How the US Government Seized All Citizen’s Gold

I think it’s interesting that the Bible mentions gold over 400 times.  It also says that in the very Last Days that “your gold will not save you”.  I see advertisements from folks selling gold and claiming it’s the only asset that’s going to save you when the collapse happens.  But let’s remember one thing;  the US Government has a history of seizing all its citizen’s gold when it messes up its own financial system.  If they have done it once they can simply reinstate the executive order if they need to.

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During extreme crises, governments can also seize people’s gold. There have been some stunning examples of “gold confiscation” in the past. Most memorably, this occurred in the US in 1933 during the great depression – albeit it’s more accurate to call it a nationalisation than a confiscation, since citizens were compensated. The government of Franklin D Roosevelt seized all gold bullion and coins via Executive Order 6102, forcing citizens to sell at well below market rates. Immediately after the “confiscation”, the government set a new official rate for gold that was much higher as part of the Gold Reserve Act 1934.

 This was the era of the gold standard, which meant dollars were tradeable for an exact amount of the precious metal. Seizing the metal enabled the government to print more dollars to try to stimulate the economy, and also to buy more dollars on the international markets to shore up the exchange rate. 

Many gold owners were understandably unhappy about the gold seizure, and some fought it in the courts. Ultimately, however, the government could not be stopped, and gold ownership remained illegal in the US until the 1970s. 

This intervention was not unique, even in contemporary history. In 1959, Australia’s government put a law in place that allowed gold seizures from private citizens if “expedient to do so, for the protection of the currency or of the public credit of the Commonwealth [of Australia]”. And in 1966, to stop the decline in the pound, the UK government banned citizens from owning more than four gold or silver coins and blocked the private import of gold. This was only lifted in 1979. 

https://theconversation.com/how-the-us-government-seized-all-citizens-gold-in-1930s-138467