Welcome to my survival blog! Look around and please comment on anything you like. While you are here, if you like my site, please take a minute to click our link to follow us through Google, Twitter or our Feedburner feed. Thanks and check out our library of free info! Please, don't forget to click the follow button and stay updated and Prepare To Survive!

Oct 20, 2010

Could the government confiscate your gold and silver?

Could the Government confiscate your gold?  However unlikely it may be, yes!  With the increasing economic downturn and the ever increasing lack of trust in the Government combined with the fact that Government maintains that it could confiscate gold if the conditions warrant it, what!  

   At the time of the Great Depression, in 1933, hyperinflation caused FDR to issue an Executive order to forbid the hoarding of all gold coin, bullion and certificates.  By doing this, it forces citizens to do business with their devalued money and kept them from setting up any sort of other payment system that the Government couldn't control.

  This sound familiar these days and I wouldn't doubt the Government would or already is planning for this scenario.
A recent report in the Houston Chronicle about federal agents, at the George Bush Intercontinental Airport, seized cash and gold from individuals in May of this year. The agents seized over a quarter million in cash and 160,000 in gold during 14 separate seizures.

  This is because of a largely unenforced and outdated requirement that says anyone transporting more than $2,500 must fill out an export declaration form correctly. Any incorrect information is punishable by a $10,000 fine and/or prison time.

  So, what to do.  Hide it!  You can bury it, but anyone with a metal detector could find it. Best chance is to spread it out, some at work or any place you think it would be safe.  Also if you are traveling I would try to keep it to less than $2500 worth to avoid seizure, cause I wouldn't want to fill out the form telling them exactly what you have so they know when they start confiscating. Good luck, this all goes for silver as well!

1 comment:

  1. The government calls it an asset, they should take responsibility for their own crashing dollar. If in fact their dollar fails , don't turn to the public's precious metal, Andrew Jackson , JFK, Abe Lincoln are all probably turning in their graves knowing what the supposed leaders have let happen to this country,letting the big banks takeover !!! what a shame. Damm!! what is freedom?