What is to stop the govt from confiscating gold and silver?Submitted by billybernardo on Thu, 06/20/2013 - 11:18
People post all the time about buying gold and silver.
Some buy as an investment, it seems...that gold and silver can't help but continue to go up in the longterm as the FED comes up with more and more money all the time. With inflation, the only way to hold onto your wealth is to hold onto something that retains value.
Others look at from the survivalist viewpoint. They possibly foresee a time when the national or global economy may collapse and you will need something to buy when the dollar is worthless. What better than silver and gold, which have ALWAYS had value for the history of mankind?
Whatever the reason, gold and silver (physical) is being bought all the time. That said, what is to stop a govt confiscation of the gold and silver down the road? I mean, we have already had it...and that was not during wartime, but during an economic depression. The ones who had been smart and put away the gold were punished for it and the govt took it away. (I still think that the Japanese concentration camps and the confiscation of gold are two HUGE pieces of history which ought to necessarily put FDR in the range of "worst presidents of all time.) If the govt did it then, why couldn't they do it now? We know that on top of it, they are "Spying" on us...they could easily pull past records of gold and silver transactions to see many of those who bought or sold it.
Then where would we be?