Published 2009 February 18 by G. Edward Griffin.
Updated 2009 March 12
WILL THE GOVERNMENT CONFISCATE PRIVATELY HELD GOLD? The following notice, which was placed in post offices in 1933, is a bitter reminder that it could happen again. If you click on the image, you can read an enlarged copy and see for yourself that, the last time America faced a financial crisis, the President declared a national emergency and ordered all citizens to turn in their gold coins, gold bullion, and gold certificates (paper notes backed by gold). The only exceptions were coins that were perceived to have significant collector's value. Many coin dealers today point to this fact as a reason to purchase numismatic coins instead of what they call bullion coins. This is a reasonable precaution but it comes with a significant price tag, because one must pay for collectors' value in addition to gold value and, if they are ever needed as barter for necessities, it is doubtful that the common man would appreciate their collector's value. In times of crisis, gold weight is what matters most. Also, there is the possibility that gold coins will not be confiscated at all, inasmuch as so few of them are in private hands today compared to 1933. At that time gold, literally, was money, and a significant proportion of the population held them. We mention this, not because we think we are smart enough to know what will happen or to make a recommendation one way or the other, but because we feel that members of Freedom Force should have as much knowledge about these issues as possible so they can make informed decisions for themselves.
WHAT ABOUT GOLD CONFISCATION IN AUSTRALIA?
from Bron Suchecki, 2009 Mar 12
I was directed to your website by a comment on my blog. Further to your analysis on gold confiscation [in the U.S.], you may find my commentary on the issue in an Australian context of interest. (Click here for commentary.) Note that I will be constantly editing the text in the link above as new information comes to hand, so that it becomes the definitive discussion on confiscation in Australia.