The government doesn’t want its citizens to own gold because their financial/ personal information can’t be easily tracked. Subjecting them to a gold confiscation edict would be like sending up a signal flare letting the public know that the government is (eventually) coming for their personal precious metals stash. FOCUS-MONEY: Ende vergangenen Jahres gaben Sie die Prognose aus, dass der Preis für die Unze Gold bis 2020 bei 5000 US-Dollar beziehungsweise 4000 Euro stehen wird. 2020.01.20. And the political will to reform entitlement programs simply does not exist in Washington at the current time. Aktueller Goldpreis & Silberpreis in Euro, US Dollar und CHF je Feinunze, Gramm und Kilo. The AntiqueSage website does not provide investment advice. ETFs are stock-like vehicles held in brokerage accounts by speculators, traders and investors. Whereas gold was special in 1933, in 2020 it is pretty much like every other good in the economy. Gold news as shocking as it is terrifying.IF YOU OWN GOLD YOU MUST SEE THIS!! America’s gold-coin, silver-coin stan… Right now, not enough people own it, so gold confiscation doesn’t come into play until it’s a much higher price,” he said. Keeping this in mind, I've constructed a list of gold confiscation targets in the probable order they would occur: Precious metals held by ETFs (Exchange Traded Funds) are the logical first step in any gold confiscation scenario. Many gold owners fear that their governments could seize their gold, pointing to the U.S. confiscating people’s gold during the Great Depression in 1933. Every currency in the world was either defined as a certain amount of physical gold or pegged to another currency that had a gold definition, usually the U.S. dollar or the British pound. Under these circumstances, it is not so far-fetched to believe that the U.S. government could once again seek to solve its financial problems via gold confiscation. Year-end countdown begins: Will gold price see a last-minute boost? A gold confiscation applied to gold mining companies could take a number of varied forms, not all of which would be obvious theft. If the government has churned through all its other options, it might resort to seizing physical precious metals held in self-directed gold IRAs. Hier finden Sie alle Informationen für den aktuellen Goldpreis in Euro und Dollar. As long as any seized gold is immediately replaced with piles of freshly printed fiat money, everything will remain copacetic. A mere trickle of gold would make its way into government coffers if a modern-day, blanket gold confiscation law was promulgated. And since gold ownership was legalized again in the early 1970s, the specter of this 80-year-old attack on wealthy "gold hoarders" still haunts investors. FDR’s Tyrannical Gold Confiscation. Analytical Charts - Jim John Adams. Eine australische Bank warnt: In den kommenden Jahren könnte Schmuck aus Gold sich im Preis mehr als verdoppeln. There is a lot of talk about student loan forgiveness. The possibility of gold confiscation is every precious metal investor's worst nightmare. The same went for cars or houses or lettuce. The executive order was made under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act in March 1933. But almost everyone buying gold ETFs is interested in paper profits, not actual physical ownership of gold. Back in the 1930’s, President Franklin Roosevelt issued Executive Order 6102 that required everyone to return their gold holdings back to the U.S. government. wachsender Spannungen im Nahen Osten, des Handelskriegs zwischen den USA und China, des Brexits und der Angst vor der … The government is creating an information base for later gold confiscation. Yet even though gold confiscation never happened here — and it was over 90 years ago — Australians seem to have this fear that the government is going to come for your gold. The aggrieved nations would have no recourse other than to lodge a token diplomatic protest. Goldpreise für 333, 585, 750 Goldchart Wechselkurs EUR But today’s situation is quite different; back then gold was convertible into physical gold. May 2020 in Precious Metals, by Steven Cochran.Citibank expects gold to average $1715 in 2020, $1,925 in 2021, and later go higher than $2,000 an ounce. Copyright © 2015-2020 AntiqueSage. These are small-to-mid-sized, privately-held companies that operate on paper-thin margins to provide everyday people reasonably-priced access to gold and silver bullion. During extreme crises, governments can also seize people’s gold. Since 1933, there have been a few notable gold confiscations around the world. This is just as well, because it is an open question as to just how much physical gold these ETFs actually hold. Being priced to perfection, the equities markets are incredibly vulnerable to a synchronized crash that would devastate Federal tax revenue. We could see those municipal debts double from today's $3 trillion to perhaps $6 by 2030. Or the government could demand that miners issue them a "golden share", which would entitle the holder to a significant ownership interest in the underlying company (perhaps 10% to 25%) along with a veto on any undesirable corporate activity (like fleeing offshore). If governments around the world are facing a depression and are casting around for a monetary response, a gold-specific policy simply is not on their radar screens. The U.S. commodity exchanges, like the COMEX, CBOT and NYMEX, all have warehoused silver, gold and platinum that they use to back futures contracts traded on their platforms. As such, the market for gold was different from every other market. Under this scenario there would presumably be less of an international outcry as these institutions would have outlived their political usefulness. Right now, not enough people own it, so gold confiscation doesn’t come into play until it’s a much higher price,” he said. There are a lot of different directions a bankrupt government could take here that would only raise a moderate amount of dissent, making this a reasonably attractive proposition. The specific circumstances varied, but there was one common thread to all of them: they all arose out of a financial crisis. In addition, gold is 29% of Swiss exports which is very significant. Bevor wir später die Gold-Prognose 2020 betrachten, ist es wichtig, zu verstehen, was den Goldpreis eigentlich treibt. While most gold confiscation stories throughout history took place in the 1930s as a precursor to World War II and most of them ended by the 1970s, there is no a lot written in the world that cannot be changed. https://www.fff.org/2020/03/12/fdrs-tyrannical-gold-confiscation Historische Kurse, Charts und Einheitenumrechnungen von Gold in Unzen und Gramm. On the upside (from the government's perspective), there is actually real gold and silver held in these accounts, not paper contracts. The government could even outright nationalize gold miners, buying out former shareholders with rapidly depreciating fiat currency. “The methods and the means change over time but the general principal does not change. The War Against Your Wealth and How to Win It.". The feds never made any concerted effort to confiscate gold by force and nobody was ever prosecuted for holding onto their gold. Tucker, director of Metalla Royalty & Streaming and author of "Why Gold? Gold Confiscation Con | Peter’s Blog; NAVIGATION MENU. And don't even get me started on the stock market, which is currently experiencing the largest bubble in all of human history. Money they could use to retire debt and stabilize the economy. SchiffGold Friday Gold Wrap Dec. 11, 2020. Before we get to the odds of it happening in Australia, a history lesson first. Federal entitlement spending (primarily Social Security and Medicare) is perhaps the worst debt bomb of all, with an estimated unfunded liability somewhere between $47 and $210 trillion, depending on who you want to believe. This blatant gold confiscation was tantamount to outright theft. And there was only ever a single Federal prosecution under Executive Order #6102, which resulted in an acquittal (although the gentleman did lose his gold). This is known a Roosevelt's Executive Order 6102. December 11, 2020 by SchiffGold 0 0. Another potential target for gold confiscation would be foreign central bank reserves held in the New York Federal Reserve's high security underground vault in downtown Manhattan. Even back in the 1930s, there were many, many people who simply did not turn in their gold coins. Now we are beginning to really scrape the bottom of the barrel in terms of gold confiscation. The largest holders are believed to be the IMF (International Monetary Fund) at around 2,000 tonnes, followed by Germany at 1,347 tonnes, Italy at 1,000 tonnes and the Netherlands at 190 tonnes. There would be very little blowback from a public relations perspective and only a relatively small number of real industrial participants would be impacted. I do think it’s likely that gold runs into the same problem it did in the 1930s but it’s going to look different. Gold confiscation is an American fear we’ve imported. And so the grounds for a Roosevelt-style gold confiscation no longer exist. Having said that, I think there will be a specific order to any gold confiscation, if it were to occur. In other words, there are far more gold future contracts than there are gold bars to delivery into them - yet another prime example of modern day institutionalized financial fraud. Refining and storing gold in Switzerland is a strategic industry. People were given less than a month to comply with the order. Economics 2020; Economics 2018-2019; Politics; Education; Public Policy; Cultural; All News; Search. After all, relatively few households own significant quantities of gold, silver or platinum at the moment (although that might change as average people realize just how bleak our national fiscal situation is). Gold return vs S&P 500 (Jan-May 2020) Thomson Reuters/Datastream. It was the soundest monetary system in history. Wegen der drohenden geopolitischen als auch wirtschaftlichen Fragen, inkl. The outcome of a renewed nationalization of private gold holdings would be so bad that I don't think any government would be stupid enough to try it. As government coffers dwindled and reached emergency levels, politicians didn’t hesitate to grab the net worth of private citizens. 3 weeks left in 2020, Gold scores moderate gains as panel recommends emergency use of a vaccine. And this fear is solidly based in historic fact. After the Constitution called the federal government into existence, gold coins and silver coins were issued by the U.S. government. Consequently, it would be fairly simple to decree a gold confiscation edict focused on the commodity exchanges. Wyckoff, Where Are the Stops - Jim It's also possible that this form of gold confiscation could actually happen before gold IRAs were seized, depending on geopolitical circumstances. At home, Mr. Lares told his father-in-law, also a fisherman. The U.S. dollar was basically a receipt that could be exchanged for physical gold, the real money.Today, central bankers can devalue their own currency by a simple press on a bu… In practice, very little silver bullion was seized under Executive Order #6814. The only realistic exemptions were for gold coins with numismatic value or non-numismatic coins in amounts not exceeding $100 face value (about 4.8 troy ounces). State and local debt, although smaller in absolute terms, is still precariously inflated. This is fortuitous in a perverse way because the physical precious metal holdings stored in the commodity exchange warehouses represent a miniscule percentage of the outstanding paper contracts at any given point in time. Once the government has raided precious metal ETFs, commodity exchange warehouses and mining companies, it becomes much harder to get more gold without looking like an insatiable, thieving monster. In addition, only a tiny fraction of futures contracts are physically settled; up to 98% of contracts settle with cash instead. The fact that we may indeed be on the verge of another recession heading into 2020 means more and more investors will turn to gold as viable solutions for protecting their wealth. In essence the government made $14.33 profit on every ounce of gold it seized. Other minor holders are thought to be Sweden, Finland, Greece, Lebanon, Afghanistan, Ghana, the BIS (Bank for International Settlements) and the European Central Bank. If an even more heavy-handed gesture were implemented - like Federal agents being sent door-to-door to seize gold - open revolt would undoubtedly spread throughout large swathes of the country. All commentary on this site is an expression of opinion only and is in no way a recommendation to buy, sell or trade any stock, bond, commodity, collectible, antique, art work or any other financial instrument. If governments around the world are facing a depression and are casting around for a monetary response, a gold-specific policy simply is not on their radar screens. And things would turn ugly in a hurry if the government pressed the issue. Why Now? Having said that, if the U.S. government was desperate enough, they might consider seizing gold held in custody for one or more smaller countries. These would be the holdings of retail-facing companies like KITCO (yes, I know they're Canadian, but some of their gold is stored in the U.S.), APMEX, Provident Metals and JM bullion. Gold held outside the US was not confiscated. SchiffGold Friday Gold Wrap Dec. 11, 2020. Whereas gold was special in 1933, in 2020 it is pretty much like every other good in the economy. Consult the Triangle of Security. He thought that devaluing the dollar would solve the problem. Tucker said that it is “highly likely” that confiscation could happen today. The idea is wildly popular and it would relieve a huge burden crushing millions of Americans. And as … The surrender of private gold holdings by ordinary citizens is the Big Kahuna - the gold confiscation that precious metal investors everywhere dread the most. When the demand to hold copper increased, for instance, all that happened was that the price of copper rose. Gold confiscation has been a hot topic at various times, and amid the coronavirus crisis, some are worried that it could happen again. Gold Confiscation: A Surprisingly Common Solution. 6) Foreign Central Bank Reserves Held in Custody. Gold confiscation in Switzerland is very unlikely. “Gold is an anonymous currency, and at some point it will be a target for the powers that be, and it’s a very logical course that it’s on, but at much higher prices. Gold return vs S&P 500 (Jan-May 2020) Thomson Reuters/Datastream. Governments have an incentive to eliminate currencies that can’t easily be tracked, and also exercise control on the population, Tucker noted. Von Greyerz: US Gold Confiscation Would Be Folly Tyler Durden Fri, 05/29/2020 - 06:00 Authored by Egon von Greyerz via GoldSwitzerland.com, Will gold be confiscated? Read more thought-provoking Antique Sage editorial articles here. All the gold currently in private hands would simply disappear into basements, closets and safe deposit boxes. I would like to preface this by saying that I believe the seizure of gold mining companies to be rather unlikely. This is the type of confiscation that occurred during the 1930s. Unlike with ETFs and commodity exchanges, we know for a fact that gold miners actually possess sizable quantities of physical gold, albeit locked in the ground. And the United State's steadily deteriorating fiscal condition certainly suggests it could be a possibility sometime before the end of the 2020s. Nevertheless, a further possibility is the inventories of private bullion dealers. Log in / Sign up. That's one reason why some precious metal investors still buy pre-1933 semi-numismatic U.S. gold coins. A gold confiscation applied to gold mining companies could take a number of varied forms, not all of which would be obvious theft. By forsaking paper money and issuing sound, credible gold coins and silver coins, the U.S. government was precluded from plundering and looting people through inflation and monetary debasement for more than a century. Now things get downright ugly. The government would be outright robbing small investors who are trying to save for their retirement. While most gold confiscation stories throughout history took place in the 1930s as a precursor to World War II and most of them ended by the 1970s, there is no a lot written in the world that cannot be changed. A large portion of their purported precious metal holdings may simply be paper futures contracts or other incorporeal gold derivatives. However, mining companies would be the next rational target for a resource-starved government contemplating gold confiscation. And so the grounds for a Roosevelt-style gold confiscation no longer exist. During the depths of the Great Depression, President FDR issued Executive Order #6102 on April 5, 1933. Last Updated: August 18, 2020 / Anthony Anderson Until gold investors truly understand the historical and current laws concerning gold, the idea of “gold confiscation” will always remain an alarmist myth; a conspiracy theory. But in practice, this did not lead to gold confiscation. The small amount of gold that was actually turned in to the government was voluntarily surrendered by people as an act of patriotism and the government gave fair market value in exchange. Eventually the Gold Reserve Act of 1934 set the price of gold at $35 per ounce. But most importantly, the optics of a precious metal nationalization involving gold IRAs would be abysmal. The ostensible purpose of these commodities marketplaces is to allow miners, recyclers and industrial consumers to hedge their precious metal exposure in a convenient paper contract. Today's average citizen trusts the government far less than the everyman of the 1930s. In his April letter, which was reviewed by ValueWalk, Crispin Odey suggests there’s a small chance the government could confiscate gold again in an extreme situation. Crispin Odey, one of Europe’s highest-profile hedge fund managers, said that governments may ban private gold ownership if they lose control of inflation in the wake of the coronavirus crisis. Heute gibt es viele Faktoren, die den Goldkurs in die Höhe puschen. President Franklin Delano Roosevelt issued Executive Order 6102 in 1933 (reprinted below). Most people who own these ETFs won't complain, provided they realize a paper profit. Gold in bank safe deposit boxes was taken but many Americans hid their gold at home. Gold is rapidly becoming the target of confiscation in Europe following the Berlin Christmas attack. Apr 19, 2019; 5 min read; Will the Australian Gestapo Come For Your Gold? SchiffGold Friday Gold Wrap Dec. 11, 2020 December 11, 2020 by SchiffGold 0 0 There is a lot of talk about student loan forgiveness. Although the limitation on gold ownership has since been repealed, the risk still remains that governments could do this again today, albeit only if gold prices were much higher, said E.B. Switzerland refines 70% of the gold bars in the world. The Gold Confiscation Of April 5, 1933. But it is an open question just how much physical gold the government could derive from this move. It would be utterly impossible to spin this public relations disaster in any kind of a positive way, so I think it would definitely be a last resort. Read in-depth Antique Sage investment guides here. These are not massive, unethical corporations or unsympathetic, day-trading speculators. Whereas gold was special in 1933, in 2020 it is pretty much like every other good in the economy. Another possibility is the confiscation of IMF and BIS gold holdings if the international trade/monetary system were to utterly implode during a future financial crisis. Forgive Me Uncle Sam! The order also allowed any person to own up to $100 in gold coins (a face value equivalent to 5 troy ounces (160 g) of gold. And the United State's steadily deteriorating fiscal condition certainly suggests it could be a … Yes, of course, it could be. To appease the public, U.S. citizens were allowed to keep a small amount of gold for “customary use in industry, profession or art”. This means that meaningful change will only realistically come via a financial crisis of some description. Germans, like Indians and Chinese, love their gold - although their reasons for buying and keeping bullion are somewhat different. Sometimes people say, "I guess we'll just have to have a major economic or monetary crisis to wake people up and cause them to want a sound monetary system." Sometimes people say, “I guess we’ll just have to have a major economic or monetary crisis to wake people up and cause them to want a sound monetary system.”. Gold confiscation is an American fear we’ve imported. Executive Order 6102 was signed by President Franklin D Roosevelt in April 1933, demanding citizens exchange their personal gold holdings for … But FDR decided that the US holders of gold should not get the benefit of a revaluation. But in reality, the futures market is a cesspool of speculators, gamblers and manipulators, with very few legitimate users. For one thing, I don't think it would be remotely enforceable. Home / Friday Gold Wrap / Forgive Me Uncle Sam! About | Privacy Policy | Terms & Conditions, Click to share on Pinterest (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Tumblr (Opens in new window), The Cultural Advantage Enjoyed by British Antique Investors, Blockchain 3.0 and the Problem with Bitcoin, The Best Places for Hiding Valuables? They understand that some forms of precious metal seizure will play better in the public arena than other types. A Roth IRA is the most practical way to protect yourself from the most likely form of future gold confiscation—a windfall-profits tax. Today, for instance, you could have a campaign against gold, but at a much higher price. It makes you a hard target. Thus gold was confiscated and then revalued from $20.67 per ounce to $35. Be replaced elsewhere can also seize people ’ s gold of copper rose left! 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