[Ferretlover]

“The longer-term outlook for the dollar is unquestionably more bleak than at any time since it assumed its role as the world’s reserve currency.”
— John Embry, Investor’s Digest, March 4, 2005
For the first time, Warren Buffett is betting against the U.S. dollar. Given the worsening trend, it is necessary to diversify out of the dollar or, as Buffett puts it, “to build an ark.” Paul Volcker, the former head of the Federal Reserve Board, says that unless America changes course there is a “75 percent” chance of an economic crisis in the next five years. Steven Roach, Chief Economist at Morgan Stanley, predicts that America has no better than a 10 percent chance of avoiding “economic Armageddon.” …
The problem is that the very circumstances that could make your gold so valuable could also result in its being taken from you. In 1933, in order to stabilize the monetary system, President Franklin D. Roosevelt, under Executive Order No. 6102, confiscated all privately owned gold in the United States. …

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PRESS RELEASE: Treasury Department Claims Power to Seize
Gold, Silver -- and Everything Else, GATA Says
The U.S. Government has the authority to prohibit the private possession of gold and silver coin and bullion by U.S. citizens during wartime, and, during wartime and declared emergencies, to freeze their ownership of shares of mining companies, the Treasury Department has told the Gold Anti-Trust Action Committee.
But gold and silver owners aren't alone in such jeopardy. For the U.S. Government claims the authority in declared emergencies to seize or freeze just about everything else that might be considered a financial instrument. …

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[TorrKing]

Outright theft such is. I don't doubt it will happen, if it does happen here too I sure will be pissed off!

Bury it is my advice.

[Heineken]

Well, of course the government can try to do anything it decides to try to do. That's why freedom is an illusion in America.
However, the practicalities of confiscating gold would IMO prove overwhelming. Yes, it could seal all safety deposit boxes (thereby in one stroke destroying much of the banking industry and all public confidence in it, BTW), but the shrewder gold owners don't keep their metal in banks. So how would the government go after all the private gold that's out there, buried in tree holes and a million other places?

How much would such a search cost? Would it even be worth it?
Also, gold prices would soar if the US govt. tried to "confiscate" it. Just as booze prices did during Prohibition and drugs have done during the insane "War on Drugs." There'd be a huge black market in gold, and gold would probably assume even more prominence.

[mattduke]

Gold offers the opportunity for privacy. Take it. Pay cash. Own it in your physical possession. If you are going to trust someone you don't know to hold it for you, it may as well be offshore.

[roccman]

Exactly Heineken.
The elite will throw a lot at us.
However, they will not have:
1) the energy to implement
2) the cronies to implement
3) nor the time to implement as they will be consumed by avoiding the herds of angry sheeple.
Now there will be a small percentage that will gladly give up their gold because Hitlery will sell it as ones civic duty...
Buy gold and silver now while it is cheap.

[Byron100]

I agree with the above opinions....they sure as heck ain't taking my gold away from me The people that turned in their gold "for the sake of the country" in the 1930's were blubbering fools, and I really, really hope people aren't that dumb this time around, should they attempt to try something like that.

As for everything else they'll try to make illegal to privately own - alcohol (the kind that can be used as an energy source), guns, privately grown veggies, meat, scrap metal, etc, etc, that's a real big clue of what trade to engage in, as it'll just make these things that much more valuable. And for putting "violators" in jail...will someone PLEASE tell me how in the world they'll do that when the jails and prisons are already bursting at the seams. Yeah, yeah, I know about the camps too, but they can't even keep order in the loony house here in Atlanta...the idea of keeping millions of totally pissed off Americans in camps is ludicrous to say the least.

As for HITlery, I'm praying to every God, deity and spirit that exists (or not) for her not to win, as she's exactly the type of person that would attempt to do the things I mentioned above...

[Twilight]

I doubt the mass confiscation of anything physical is feasible these days, far easier to control the terms of use / transactions, and with time these may change to be not in your favour.
The dangers I see with owning physical gold are that in the very crisis against which it is intended as a hedge:
1. You may find yourself trading at a loss or unable to trade at all.
2. It could get you killed.
So personally I am not going to bother.

[Heineken]

Twilight, after economic collapse, precious metals and other physical assets like land, ammunition, and Jack Daniels will be the last things left standing. You can choose to be naked at that moment or not. Take your pick. No one here is arguing that it will be a safe environment, but at least you'll have something to barter for your life.

[Twilight]

On the other things, I agree. On gold, no. Because listening to these discussions, I see a problem. Too many people thinking it's so great. Out there, many more who think the same. I will leave it to others to find out how that works out. As you point out, there are other things which will hold value.

[vision-master]

Better off to have a bunch of good Cannabis than Gold.

[Offshore]

$this->bbcode_second_pass_quote('mattduke', 'I')f you are going to trust someone you don't know to hold it for you, it may as well be offshore.

[Offshore]

$this->bbcode_second_pass_quote('vision-master', 'B')etter off to have a bunch of good Cannabis than Gold.

[lateralus]

$this->bbcode_second_pass_quote('Offshore', '')$this->bbcode_second_pass_quote('vision-master', 'B')etter off to have a bunch of good Cannabis than Gold.

[dukey]

gold confiscation happened before
it could happen again but i wouldn't bet on it

[jboogy]

The point is: in 1933, while the rest of the world was already off the gold standard or moving away from it, it was easy for Roosevelt to enforce his domsetic US gold-trading ban. Back then, virtually all Americans owned gold or held gold coins as currency. Today, virtually no American holds gold, and there is no gold currency in circulation worth mentioning. The amounts that the governing "Amerika" could get from such a move would be minuscule, so why bother? Even if successful, such a move would not in the least improve the dollar-forces' position internationally - and that is what really counts in today's currency environment.

Alex Wallenwein , www.silverbearcafe.com

[vision-master]

$this->bbcode_second_pass_quote('ferrelgiraffe', 'L')ike in Europe in WWII
they question you, if you have anythihg, if they liked it, they shot you in the head and took it.
My grandpa had the largest farm house in the town, nice, his uncle was the sherriff and had rights to the forests (they paid him for logging) and he was royalty. Because of his connections he was allowed to live if he just walked away. One of my second uncles actually is governer in eastern country, and will remain so, it is nt a matter of voting there, (black sheep) he wasnt' a nice guy to get that position.
They know who runs things in europe and in the world, they know, and it hasn't changed. but most are not evil enough to play by the rules. What is left of our family came over as peasants, what a change. They had connections to come as refuges. The rest they shot or killed. Great grandmother got a gun butt to the head to save bullets, the kids were not allowed to bury her, they kept walking.

Nothing will protect you from what is coming, you will walk, there will be no driving cars in a few years. Live in an area knowing that. You must be reasonably self dependant.
They will come to your door and take your guns and your gold and anything else they like, maybe your house if it is too nice. They will take your wife and your daughter, whatever they want. And you must smile when they do so.
count on it.

[Heineken]

$this->bbcode_second_pass_quote('jboogy', 'T')he point is: in 1933, while the rest of the world was already off the gold standard or moving away from it, it was easy for Roosevelt to enforce his domsetic US gold-trading ban. Back then, virtually all Americans owned gold or held gold coins as currency. Today, virtually no American holds gold, and there is no gold currency in circulation worth mentioning. The amounts that the governing "Amerika" could get from such a move would be minuscule, so why bother? Even if successful, such a move would not in the least improve the dollar-forces' position internationally - and that is what really counts in today's currency environment.
Alex Wallenwein , www.silverbearcafe.com