gold confiscation it could happen here.

  1. 5,881 Posts.
    From Harry Shultz on Gold excerpt from www.financialsense.com

    U already know we should all own both gold shares & gold bullion coins & bars). U know the reason is capital gain & protection of your assets. But U must fine-tune what U buy & where U keep it. Gold will be increasing in value vs all currencies (variously) &/or in terms of purchasing power for years to come. Thus it’s prudent to ask now what govts will do about it? Most will do nothing, which is as it should be! But a few govts, who believe they are all-wise, or power mad, or simply wish to control the masses, may confiscate locally-held gold or tax it. FDR confiscated in 1933 & many govts still tax it if U bring it into their country. Why do I say talk about it now?

    Because if U don’t plan ahead it’ll be too late when it matters! Those living in nations where govt leaders are not the least bit interested in individual financial freedom (eg, US, Oz & to some extent UK, France, Germany, Belgium, Scandinavia) should plan now. Eg, if U live in the US, U should hold most of your gold bars/coins in Mexico, Canada or Europe. If U live in Europe, own it in the country next door. If live in Oz, try HK or Sgpr.

    And gold shares? US citizens shouldn’t own only US golds nor the US-based ADR’s! They should own mostly Canadian golds bought in Cda or SoAfricans bought in London/Zur or Jo’berg, not NY! The US govt is not above taxing US gold shares if gold reaches $900, as it will, IMO, within 2yrs. Gold over $1,500 would be a certainty for severe taxation. Safer still is to own non-US gold shares via non-US banks/brokers (eg, Cda, Switz, NL, UK). Consider taking certificate delivery of your US gold mines so your broker’s records don’t reflect an open position in those golds. ••Of course, wherever U live it may be OK to have a trading account in a place that’s most convenient. But your non-traded core positions should be “inconveniently located.” Once gold passes $450, cut back on locally held accounts.



 
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