Will The Government Begin To Confiscate Precious Metals?
There is a plan to use the IMF (AKA US Treasury and Wall Street) to be the front man for the new world order and one currency.We also got disturbing news yesterday from an impeccable source that when gold touches $2,000 it’s confiscated in the USAfor about $200. Then it’s to be reissued by the Treasury for $10,000 per ounce to back the new IMF world currency using SDRS in 2011. Large physical gold is being moved to Canada. (Editor's note: There are strong indications that Warren Buffet has already begun to move his PM's to Canada, where he owns two gold mines and obviously has the secure storage available)
So, will it happen again? I’d have to say overtly, probably not. Never say never, but I believe that covertly it has already begun ...
…there’s the matter of gold and silver Exchange Traded Funds. Many of these funds, including the largest, are thought by many informed individuals, not to hold the metal they are purported to. At some point, if they don’t have the metal, they will default on their obligations to shareholders. Those shareholders who thought they owned gold will not…They will have had their gold taken from them. Confiscated.
The final implementation of confiscation will probably be in the form of confiscatory taxes. If taxes rise to 90% on any profit I must report, then it will be discouraging and not worth the effort to hold the metal.Qualifying all of this is of course necessary and I must say that it may not happen at all UNLESS the US decides to go back to a gold backed currency standard. That is exactly when FDR in 1933 moved to confiscate and ban gold ownership until 1973 when we transitioned to fiat currency.
One last bit of paranoia is this fact:
My conclusion is to advise you to keep an eye on what is happening in Washington via sources like this one, make your buys in small quantities (under 600 per transaction) and above all find a place to store those physical metals you are holding in a place that can't be found if someone comes looking!