Gold Confiscation – Straws in the Wind
by David Galland of Casey’s Report
In the emails that our readers at Casey Research send our way, questions and concerns about the possibility of gold confiscation rank high.
My somewhat standard response is that, yes, it’s possible, but that we should see straws in the wind well before it happened… allowing us to take measures to protect ourselves.
While I don’t want to make too big a deal about it, there have been clear signs of late that the U.S. government is taking an unhealthy interest in your gold.
My recent article “I Smell a VAT” touched on one such straw. The relevant point being that, thanks to a regulation slipped into the healthcare legislation, coin dealers – and all businesses, for that matter – will have to begin reporting any purchases of $600 or more from anyone, including clients selling back their gold.
While I think the overriding intent is to pave the road for the implementation of a value-added tax (VAT), there’s no question that the legislation simultaneously paints a target on the back of the free trade of precious metals.
Then, a couple weeks ago a friend sent me a copy of Mother Jones, an a unapologetically “progressive” mouthpiece with a cover story titled “Glenn Beck’s Golden Fleece.”
And friend and correspondent Lowell sent along an article with an embedded video link to an lengthy ABC News “investigation” by Clintonista George Stephanopoulos that picks up on the Mother Jones story.
Now that you’ve watched the video – and if you don’t, some of what follows won’t make any sense – I’d like to share some observations based on personal experience.