Could the Government Confiscate Gold — Again?
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It’s true that there is no ceiling on gold’s price, but reaching for this ceiling only happens when currency collapse is present or imminent. Then you get 1933 where private gold is confiscated and a new gold standard regime is announced. Governments will not see their countries devolve into moneyless chaos if they have the power to prevent it.
Stealing your gold for cheap prices, then revaluing it at 100X or 1000X or whatever it takes to replace the amount of fiat money whose value collapsed, would be a no-brainer. When it comes to money, monetary systems, and fiat vs gold money, governments will take any major upside if there is a systemic event like currency collapse.
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This is a wonderful report. I am so lucky websites still has good articles and other content.
“But to understand how gold really did during late 2008′s devastating stock panic, you really need to consider all these currencies concurrently. The takeaway is gold’s panic performance ranged from excellent to spectacular in 7/10ths of these currencies which include the very important euro and British pound. Only the US, Japan, and China saw local-currency gold charts that looked weaker than investors hoped during the panic episode.”
In much of the world, gold not only held all of its value, it hit all time highs at the end of 2008.
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