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Home Moneta Blog Can gold be confiscated?

Can gold be confiscated?

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Gold is the enemy of central bankers; any rise in its price means paper, or fiat, currencies are decreasing in value. Our opinion on gold confiscation is simple, it can happen, just not in a way called "confiscation".

According to the latest report from currency traders FMXconnect.com, via Zerohedge:

"Our two cents are as follows. It does not pay to fight the government right now. Even though Bernanke can't print more oil it is clear that we are entering into a new phase of a centrally planned economy. To us this smacks of price controls. When you combine it with the Dodd-Frank bill prohibition of OTC gold trading, you might see that we are setting up for something worse. Tin Foil Hat Alert: All gold will trade through exchanges and while we don't think ownership will be prohibited it may be taxed to death."

For more on the arguments for and against how a possible confiscation cold work, see here:

 

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