Gold Confiscation - Will It Happen Again?

Most people have heard about gold confiscation happening is 1933. The argument that it could happen again is that of an all-nighter.

Executive Order 6102 was an Executive Order signed on April 5, 1933 by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Bullion, and Certificates" by U.S. citizens.

There are a lot of myths about this move by the sitting president. One in particular is that all gold was seized by the government.

This myth has been discounted. The order was only to prevent hoarding of over five ounces. Since gold was the official money in those days, a time when people were poor due to inflation and joblessness, it's highly unlikely that the majority had any to hoard.

Regardless whether they did or not, the government never aggressively acted on the order anyway.

Could it happen again?

If you look at the present trend of the printing of money like there's no tomorrow, inflation on the horizon, disregard for the constitution, and protectionism being a top belief of this government, yes it is possible.

On the other hand, with the information age upon us, where the public has a platform to rally upon, it is highly unlikely. In the modern day, it seems there would be more of a fight before anyone would give it up.

What ever side of the argument you represent, the mid-term elections of 2010 may have squashed any plans for it to happen any time soon.

The best advice about gold confiscation, don't lose any sleep over it!

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Jeff Sneeringer

Jeff Sneeringer

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