Justin Spittler – If you’re buying gold right now…the government could be tracking you.
If you’re buying gold, you’re likely not doing it to make money. You’re buying it to make sure you don’t wake up poor one day.
Gold has been used as money for thousands of years because it is easily divisible, easily transportable, has intrinsic value, is durable, and has consistent form around the world. And, as Doug Casey reminds us, it’s a good form of money because governments can’t print it on a whim. You can’t “Bernanke your way” to wealth with gold.
When today’s dramatic central banking experiment blows up, gold will hold its value…unlike paper currencies such as the dollar.
That’s exactly why the government will try to take it from you.
The last time the government confiscated gold was during the Great Depression. In 1933, President Roosevelt outlawed owning most forms of gold. He claimed that people “hoarding” gold were making the Great Depression worse. The penalty for not turning your gold in to the government was a $10,000 fine and 10 years in jail.
Of course, Roosevelt gave his closest supporters notice before issuing the ban. They had time to move their gold to another country. Most folks weren’t that lucky.
This time around, the confiscation will be digital.