Loading ...Don’t Dismiss The Possibility Of Gold Confiscation
If you hold precious metals in your portfolio, there is a good chance you fear hyperinflation and the crash of fiat currencies.
You probably distrust governments in general and believe they are self-serving and have no interest in your economic well-being. It is likely that your holdings in gold are your lifeline – your hope to get you through these times while holding on to your wealth.
But have you ever given any thought to the possibility of having this lifeline confiscated by the authorities?
https://www.zerohedge.com/personal-finance/dont-dismiss-possibility-gold-confiscation
If you do not physically hold it yourself, you do not own or control it.
Third party Storage in any western jurisdiction is high risk for confiscation.
You are correct Leo. The only gold that can be confiscated in any case is the gold the government knows about. That which it does not know about cannot be taken as gold owners are notoriously secretive and protective. The entire exercise would be without merit or purpose. As it stands, metals markets are already so regulated that the government already knows who has what amounts and therefore it is moot regarding physical confiscation. Since you cannot move it acrosss borders anymore without lots of paperwork then the domestic supply is more or less ensured. But national supplies is not really an issue when the world wants to be borderless and governance take place from higher authorities like the UN. So that leaves only the black market to be contended with and that market is a speck of dust where metals are concerned. I don’t see confiscation as a real objective of anyone in authority since its effectively pointless.
If you bought some time ago or dealt strictly in cash you should be OK. It is nearly impossible to find a dealer who would be willing to deal that way any more. There was a time when I thought it might be wise to have a stash to travel with if I were ever to relocate out of US but now where you gonna go?