A History of Gold Confiscation: The Infographic

Mining.com has released an infographic detailing the history of gold confiscation.  From Roosevelt’s 1933 Executive Order, to Mussolini, to the Nazi confiscation of Czech gold, and concluding with more recent confiscations by the Australian and British governments, the infographic provides detailed information regarding all modern-era gold confiscation episodes.

Freedom Girl Now Available From the Silver Bullet Silver Shield Collection at SDBullion.com!!

Freedom Girl

 

From Mining.com

 

OPM Silver Round Promo 2 with Border

Comments

  1. Historical proof that governments will lie, cheat, and steal from their own people just to keep themselves in power.  Don’t think for a minute they won’t try it again.

    • Hey Gog,
       
      I am with you.  Too bad about your boating accident.  It was very similar to mine!  Hope they fix the problem of boats sinking. 
       
      I fully expect that, given the circumstances, the government will, in fact, declare to ownership of gold illegal.  They have had plenty of practice with the manipulation of markets.  It would seem to me they just manipulated us to buy with our money, then they will confiscate to add back to theirs.
       
       

    • Even what history remains intact after those in power have it dry-cleaned, we can easily read between the lies to see that government is like any other beast: it will do whatever is necessary to grow and survive.  Stealing, lying, cheating, and killing are all part and parcel of day to day government operations. What IS somewhat humorous is the number of people who do not recognize this fact. 
       

  2. If they confiscate it will create millions of criminals over night.  Think of the black market it would create.  Perfect.

    • Instead of a grow-op next door, sheeple will complain about the gold-op next door. There goes the neighbourhood!

  3. What Gold, I don’t Have Any Gold.

  4. This time around it doesn’t make sense for the US gov. to go after private physical holdings. When it comes to the vast majority of Americans, there are virtually no physical ounces to confiscate! It’s the ETFs and perhaps private storage relationships where we find the risk. However, the government will increase the tax on the sale of PMs and make it very hard to get around reporting. This way, the gov. need not do any door-to-door type seizures nor even deal with the legal system resistance that would follow a physical grab (law suits about what is and isn’t just compensation are easier to launch and execute; suing over the government’s right to tax, on the other hand, is a seriously weak legal argument).

    Remember, the initial draft of Obama Care included a provision about merchants of all types having to report their purchases from the public when the purchases were over $500 or $600 or whatever the dollar figure was. I forget. The bullion, numismatic, pawn shop and jewelry industries complained loud enough and this trial balloon was removed from the bill. But the fact that it was in there demonstrates some of the off-the-shelf policy options our dear leaders are considering.

    With a large “windfall profits tax,” the government gets most of the ongoing value of gold pre- and post-reset of the system, and it forces the small number of stackers out there into the black market or to simply pay-up on the tax.

    Meanwhile, when considering GLD, I wouldn’t own that thing even if someone gave me the money to buy shares. GLD likely plays a part in the mechanics of gold price suppression and it’s certainly the most attractive target for outright confiscation (forced closure with cash settlement based on the price of gold prior to a system reset is what holders need to worry about, which technically, will amount to partial, not total, confiscation)

    • @Flying Wombat
      “This time around it doesn’t make sense for the US gov. to go after private physical holdings. When it comes to the vast majority of Americans, there are virtually no physical ounces to confiscate!…”
       
      Let’s see how that presumption holds up as the price of gold begins to accelerate upward.  People will move to acquire gold at some point as it becomes truly apparent that the MSM stories panning and berating gold were all propaganda, lies, and disinformation.  There will be no incentive for the government to confiscate gold until the price rise becomes a serious threat to the US Dollar.  And, at that point, now the government will have to pull out all the stops to slow it’s ascent, while capturing as much as it can to hold to reserve against it’s debts.  Remember also, that at some point around that time, we will come to know the truth as to what the real holdings of the US are in tons of gold.  When it becomes clear that the 8133 ton number is a lie, the resulting chaos will force extraordinary measures for sure.
      Buckle Up!!!
       

    • “…law suits about what is and isn’t just compensation are easier to launch and execute; suing over the government’s right to tax, on the other hand, is a seriously weak legal argument”
       
      Worse yet, it is no argument at all since the government does not have ANY rights.  It has POWERS but no rights.
       
      Also, I would not bank my future on the government, particularly the current one, doing what is rational.  lol
       
       

  5. @Sovereign Economist:  The percentage of Americans actually holding physical and the total horde size held isn’t really the issue.  The issue:  Since gold is not the basis of the current operating currency, the government actually doesn’t need the physiscal quite as agressively as it did in the case when FDR “confiscated” and revalued (because the physical gold really was in the hands of the public, as oppposed to ETFs, etc.).  This time around, the operating currency will be devalued against gold, while the government confiscates ETF honeypots, the part of the horde Germany had yet to get back, etc.  That should be enough for the US to “back” a new currency system.  Door-to-door operations would exact too much political and blood costs.  This isn’t the same America as the 1930s.  Taxing with care spent on locking down all exits other than the black market is comparatively so easy it’s a joke.  Taxation/regulation has 50 times greater probability of being the gov.’s answer versus anything involving door-to-door operations.

    • Actually, FW, the large part of US gold holdings in the 1930s was in the banks.  They were playing their usual boom and bust cycle game, using first inflation and then deflation to cause all manner of financial chaos from which they could profit.  By withholding gold from the public, the banks were able to cause a deflationary depression in the US.  Roosevelt’s move on gold was much more aimed at the banks who held this gold than it was at individuals and their few coins each.
       
      The bottom line for me, however, is the devaluation of US currency that goes hand in hand with gold grabs.  As soon as this gold was “called in” and exchanged for fiat paper, the official gold price was adjusted from $20.67 per oz. to $35 an oz.  Where less than $21 were needed to buy an oz. of gold, suddenly $35 were now needed to buy that same oz.  That sounds a whole lot like currency devaluation to me, although it is rarely stated as such in the history books.  When one is planning to make gold worth a lot more money, one always steals as much of it as one can before the fact.  If the Ft. Knox and NY Fed vaults really are empty of US gold, they will be needing all of it they can get to build the highest tech parts of their spy satellites and drones.

    • @Ed_B:  By starting off with “actually” it kind of sounds like you’re suggesting a counter point to something I mentioned.  But if not and you’re just adding on to what I said, yes, of course, you’re correct.  The majority of the gold that was confiscated was already within the banking system.  Heck, the estimates of the percentage of gold actually turned in by the people are not in full agreement, but they universally suggest that a huge portion of the American people didn’t comply.  In addition, many rich people were moving their gold to Europe in anticipation of the confiscation and this flow started in 1929.  Interesting trivia:  that flow became the primary source for high grade numismatic coins that would eventually return as collector coins.

      Anyway, the point I was making was that there was gold widely distributed in the hands of the American people given that gold was part of the operating currency of the day.  Neither of those two points are true today, which is one of a handful of reasons why it simply doesn’t make much sense for the gov. to execute a door-to-door confiscation targeting average citizens.

    • Well, actually, in this case, I was adding my own point of view to yours on this matter to emphasize that while gold was indeed money, many Americans were not wealthy enough to have much of it.  My Grand parents are always my example in such things as they lived through those times as young adults.  Their money tended to be pennies, nickles, dimes, quarters, and halves… maybe an occasional silver dollar but very rarely ever a quarter or half eagle gold coin.  This was probably common in the countryside where they lived, although it could easily have been different in the cities where wages and salaries were likely higher.
       
      “Heck, the estimates of the percentage of gold actually turned in by the people are not in full agreement, but they universally suggest that a huge portion of the American people didn’t comply.”

       
      That would not surprise me a bit.  Many people back in those days did not trust paper money and wanted coin money instead.  If they could bury it and only take out a little at a time, then that is likely what they did.  As long as their stash was not found and they never had more than $100 face in gold at any time, they would be relatively safe from the Draconian punishments listed in EO 6102.
       
      “ In addition, many rich people were moving their gold to Europe in anticipation of the confiscation and this flow started in 1929.”
       
      Indeed. This gold grab was telegraphed about a month in advance.  This gave many wealthy people the chance to move their gold to Europe, Canada, or even Mexico or someplace in the Caribbean.  I have read news stories about workers finding bags of US gold coins hidden and then forgotten in attics and walls in Europe.  Imagine demolishing a wall with a hammer only to have the wall suddenly gush out gold coins!  WOW!  JACKPOT!!  lol
       
      “Anyway, the point I was making was that there was gold widely distributed in the hands of the American people given that gold was part of the operating currency of the day.”
       
      Point made and taken.  My points were that the banks were withholding a lot of the gold from the economy that should have been circulating but wasn’t and that many other Americans did not have much gold because they were too poor to own it.  Silver was their money.

    • Ed_B:  Great insights.  Thanks.

  6. This brings up an old subject. Where do you put it?
    My favorite spot(and i`ve made $100 bets with close family members they couldn`t find it, and they couldn`t) Drill out the top of a hollow core door on the lowest level of your house. Attatch a screw to the top of the door. Suspend your phyzz in small containers (I use perscription bottles) from tie wire. Wrap end of wire around screw mentioned earlier. It`s all accomplised much easier by removing the door before work begins.

  7. Good idea Silver Dollar.  I like the ammo can approach.  A 50 cal surplus can will hold 720 gold coin plus room for a 9mm and 4 full mags.  Bury it. 
    “A central government that’s rich enough to give you what you want is powerful enough to take it from you”
    AGXIIK.
    Molon Labe bitchez

    • Ammo can makes a great container, alright… especially if it is wrapped carefully in plastic bags before burial.  Beware Alzheimer’s, though.

      Another great burial container for coins and rounds is a short length of PVC pipe with glued-on end caps. Keep the length to 18″ or less so you can split up your stash in various places. 2″ pipe should be about ideal for silver or 1.5″ for gold.

  8. Copy that Ed. PCV won’t rust and can be totally waterproofed. For larger projects Monotubes are good means of concealment. thanks for the tip

  9. It would be better to confiscate diamonds then it would be to confiscate metal.  Instead of transporting truckloads of gold between countries to settle accounts it would only take a few brief cases of 5 carat diamonds.  

  10. About the 1933 gold confiscation in the USA, the Federal Reserve also devalued the US dollar by turning the “20$ per ounce of gold” into “35$ per ounce” if people ever want to redeem the US dollar. So, citizens holding paper dollars by selling their gold have seen a massive inflation overnight and people holding physical gold had their purchasing power the same as before.

Speak Your Mind