When we ask, “Could bullion confiscation happen again?” we can look at history, the current economy and the fact that the law has not changed.
The confiscation of gold in 1933 was done during the Great Depression when the economy and banking system were on the verge of collapse. Executive Order 6102 was not issued out of malice. President Roosevelt issued the order because he thought that it was required to save the nation from financial disaster. Today we are seeing the worst economic times in nearly 80 years, since the Great Depression. The government today has been pouring dollars into stimulus packages in an effort to bring back employment, prop up the banking system, and bring the economy back to life.
When the choice is letting people starve because the government can’t fund Social Security or confiscate gold don’t be surprised which choice the government makes. When the choice is letting people die from treatable illnesses because they can’t fund Medicare or confiscating gold don’t be all surprised when the President signs another executive order copied from # 6102.
When the government decided that Prohibition was a mistake that simply fostered the growth of organized crime it passed a constitutional amendment reversing the old amendment. No one has written any law banning the confiscation of gold. The only government ruling that applies is the 1984 Treasury Department ruling clarifying the status of rare/collectible coins which will likely provide protection for certified rare coins when confiscation comes.
When we ask, “Could bullion confiscation happen again?” the answer is, sadly, yes. Take the steps necessary to preserve family wealth through the investment in certified rare coins. Call our gold experts now at 1-800-300-0715.