0 votes

Questions for you gold bugs from a guy who's new to this

Say I own an ounce of gold in a storage account with a large gold dealer. 1. What are the chances of gov't confiscation? 2. What's the benefit of holding the metal in my hands--do you expect it will be accepted for trade when the collapse comes? Wouldn't we need balances and purity tests for that type of trade?

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

if you can't touch it you

if you can't touch it you don't own it!

"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson

I am more concerned about the return of my money than the return on my money. --Mark Twain

Right now you own a receipt. That's why you should hold it

If it's a large gold dealer, do you think they'll start ripping people off with you? Not to be mean or anything, I'm just saying, if you trust that your reciept represents real gold, you should trust they're going to send you real gold.

Confiscation now would make no sense because gold no longer means anything to the money system.

Of course it will be accepted as trade, just like it is now. Probably even more so.

Personally, I like silver better than gold right now because there has to be an adjustment in the ratio and the way I see it, either silver goes way up, or gold goes way down.

i dont own gold

but history shows that our govt has confiscated gold on more than one occasion. im not saying to pull out, but just to pay close attention. im sure ron paul will let us know if they are going to confiscate again.

"The state is the great myth where everyone tries to live at the expense of everyone else." - Frederic Bastiat

Physical confiscation?

I really doubt that would happen. Remember, in the 1930's gold was being used as money by the gov't. Today it's not.

If the gov is going to

If the gov is going to completely collapse, my guess is that they would try to take everything that they can get their hands on...



but people are buying gold in many forms, like jewelry and special, non-circulating coins (Krugerrands, Pandas, etc.). Would the gubment confiscate these if they knew that people were using them as money (e.g. if/when their fiat currency collapses)? My guess is yes.