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Gold may be confiscated.


Stretch

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The gold was nationalised not confiscated.  I don't think they came around door to door to forcefully take it from you.

 

They could create a price spike like the last one and people will be running to sell their gold. 

 

You only ever hear on TV when 'it's a great time to sell gold' never when it's a good time to buy. 

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If I need to sell in the future it will be for something real....like bitcoin

At the risk of being lambasted by the bitcoin community, I sincerely hope you don't!

Cryptocurrencies send shudders down my spine. There won't be a PPI claim line to bail out this mess.

The only reason it currently functions is that those people accepting bitcoins as payment.... immediately exchange them/or determine their value, in fiat.

Whilst the principles behind its creation are well founded, it's fundamentally flawed. All the best though

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sending money anywhere in the world

 

I swore I wouldn't get into this debate. However..

You get paid in pounds...transfer pounds to bitcoins... transfer/pay in bitcoin anywhere in the world... recipient exchanges bitcoins for dollars/euro etc.

Bitcoin has merely acted as a MEDIUM of exchange. Wake me up when corporations start filing annual reports in bitcoin

Google/Facebook/Apple wallets will be the next big wave (banking licences already accepted/pending)

Whilst I despise fiat currency, I'm willing accept it'll continue to convince the masses of 'money' status for a little longer yet

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I think what stretch is talking about is a situation like Argentina happens here, or we go to war  (world war).  Then a country needs Gold. or a access to Gold.

 

As far as the former chancellor Gordon Brown,  Germany wanted their Gold back from the Bank of England, why else would he announce he was going to sell it off before he did, so he sells it cheap then buys it back, sends it to Germany.  The thing is France haven't sent all of there German Gold back neither have the U.S.A.

 

Gordon Brown isn't the only idiot chancellor we have had.  Just think of all that oil that was sold off at $10 a barrel in the 80's and no sovereign wealth fund.   

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Some wild optimists on here lol. When the government is forced to privatise the NHS and abolish the welfare state including the ponzi scheme that is the state pension. This is a world where gold will be seized by a desperate government.

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Wasn't the gold exchanged for fiat at the rate set by the government?  I can't be bothered checking.

A law where full confiscation would never pass and be allowed by the general public.  Exchange for current market rate, then yes (Like forced relocations/evictions). 

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Yes for whatever it was $35 an oz ish?

 

I thought it was bought for $20, then dollars became worth less, so it was then $35

 

We should not be lazy and google these things to make sure.. I will do that now and edit as appropriate 

 

Edit> No I was right  B)

Help thread for members new to silver/gold stacking/collecting

The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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Does anyone here think that the latest spying laws being passed could be used to snoop on e-mail and internet traffic to see who was buying Gold and Silver from HGM Atkinsons and STG et all, for a Gold and Silver raid on an individuals wealth?

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Some wild optimists on here lol. When the government is forced to privatise the NHS and abolish the welfare state including the ponzi scheme that is the state pension. This is a world where gold will be seized by a desperate government.

 

The majority of the mental health arm of the NHS has been privatized, GP practices now privatized (run there own budgets by bringing in big private companies) Palliative care in some areas now been privatized, PFI and the list goes on.  

 

Stating that I and others are wild optimists is just not true, look through some of my posts.  To dismiss Argentina as a basket case that could not happen any where else is ludicrous look around Europe, or look back at Asia 15 years ago .   Why do you think we invest in physical PM's maybe its because we see there are problems.

 

Just for the record I will state again we are not in a capitalist society!  

 

we are in a debtist society.  Where the wealth gap has risen dramatically since 1980.  

 

35 years of neoliberalism under all the main political parties in the UK has left the country in a mess with all the wealth in a few rich peoples hands. THIS IS NOT CAPITALISM.

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If you think the Govt is definitely going to claim all of your gold/silver, why bother buying it in the first place? More to the point, why buy via electronic payment (which is traceable) than cash in hand face to face to someone local if you were?

By all means worry about the Government coming and taking it all. I'm just gunna not care about it. It's out of my control anyway.

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The majority of the mental health arm of the NHS has been privatized, GP practices now privatized (run there own budgets by bringing in big private companies) Palliative care in some areas now been privatized, PFI and the list goes on.

Stating that I and others are wild optimists is just not true, look through some of my posts. To dismiss Argentina as a basket case that could not happen any where else is ludicrous look around Europe, or look back at Asia 15 years ago . Why do you think we invest in physical PM's maybe its because we see there are problems.

Just for the record I will state again we are not in a capitalist society!

we are in a debtist society. Where the wealth gap has risen dramatically since 1980.

35 years of neoliberalism under all the main political parties in the UK has left the country in a mess with all the wealth in a few rich peoples hands. THIS IS NOT CAPITALISM.

I agree Piper, we're living in a command and control economy. It can only end very badly.
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If you think the Govt is definitely going to claim all of your gold/silver, why bother buying it in the first place? More to the point, why buy via electronic payment (which is traceable) than cash in hand face to face to someone local if you were?

By all means worry about the Government coming and taking it all. I'm just gunna not care about it. It's out of my control anyway.

It's a legitimate worry. It could happen. Similar to the inflation vs deflation debate. Of course I'm still stacking but I consider all options and try not to become indoctrinated.
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I've been thinking about the confiscation question.

 

If the Government thinks about confiscating Gold, other questions must be asked first! 

 

1 All utilities must be taken back into public ownership (confiscated)?

2 Land can be confiscated from Land owners?

3 Second, third homes confiscated?

4 All commodities confiscated eg oil fields in north sea?.

 

The point I am making is why only Gold, if the Government is in a mess and needs to confiscate it could confiscate all sorts of assets, commodities.  It is true Gold is the ultimate safe storage of wealth, to go around and steal it from the masses there would be riots, the Government would have to take from the rich at the same time, unlike in the past people are more educated now and would not stand for anything less.  IMO the rich would have to give up a awful lot if it happened I mean Land and from the list above and many more things.

 

 A lot would have to happen for the UK to confiscate the establishment would not like to give up all that land.   

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At the time the dollar was on the gold standard. Now there is a complete fiat system they don't need to physically confiscate gold from the masses. The majority don't even have gold, far more profitable and easier for the US Government to do a bit of quantitative easing and add a few 0 somewhere.

It is still of course a possibility, but I think it's quite low. If you are worried there are a magnitude of places around your home you can hide a small amount of gold.

My posts are my personal opinions, they do not constitute advice or financial advice.

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With 52% of all gold in the world being jewellery, I doubt the government would only come after the 16% that is in bars and coins.

 

When gold was confiscated in the past, those percentage figures were most likely reversed, and going after billions of 9ct gold earrings tucked away in peoples jewellery boxes is just not going to happen. 

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