Gold Confiscation Not A Possibility

Posted at 2:24 AM (CST) by & filed under General Editorial.

Hi Jim,

I know you receive tons of emails, so I will get right down to the core of my question. In a note on today Richard Russell wrote:

“At any rate, I’m personally torn between putting all my assets into bullion gold coins or leaving half in gold and half of my assets in US dollars. In their demand to making Fed notes the only legal tender money, I believe the Fed (and the government) would stoop to any trick or law or machination to ensure that Americans must accept Fed notes as the only legal tender money. The government (Congress?) could pass a law outlawing any transactions in gold or silver or any precious metal.  The government could halt the trading of gold or gold ETFs.  Or there might be a dozen tricks that the government could use that would outlaw the use of gold as legal tender. Then, there are always taxes as a barrier to even owning or trading gold. So I dunno, hold all your assets in gold bullion coins?  Frankly, I’m afraid to.  The bankers demand that I use their rotten fiat notes as money, and believe me, the bankers (the Fed) run the country.”

What is your take on this possibility Jim? Do you think we would see warning signs before TPTB does anything on that? If you have already treated this issue in a previous post, please excuse me and feel free to forget about this email. Thanks for all you do so generously for all of us sheeple.

CIGA Michel

Dear Michel,

My respect for Richard Russell could not be higher. I will speak to this generically while recognizing "Richard the Good" stands along with "Dean Harry Schultz" as the only true two icons of gold. All others are but pretenders to the golden throne for some personal profit motive. Anyone seeking to dim another’s candle that theirs might shine brighter are as sociopathic as the banksters in our crowd for what they can get.

There was much to be gained by gold confiscation in the 1930s because we were on a gold standard. Without taking you into complicated explanations, please accept the true fact that gold in the 1930s was the only instruments of QE. It is not now nor will it be again in the future. There may be more to gain by a significant price of gold in the new reserve currency. There is no reason except some sort of fear of revenge to consider confiscation of gold, gold shares or the gold ETFs now. Those that worry so much about this do not really understand what gold was under a gold standard.

Why was energy not confiscated at $145 crude? Why not confiscate Apple at $750? Confiscation is NOT going to occur, nor will the gold bullion or gold share profits be confiscated via punitive taxation. It serves no monetary purpose and just might injure the efforts for a new reserve currency that is sure to come.