Sunday, August 18, 2013

How gold can be confiscated ?

They won’t confiscate it and not pay anything. That would be, I guess, completely against the law. But say the price today, say around $1,200-something, then what they can do is they could essentially say, “Okay. We collect all the gold and pay $800.” More likely is that they would first try to depress it to $800 and then do it, then they’ll pay $800. Once they collect all the gold, like in 1933, they reevaluate to say, $10,000.