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Your gold could be confiscated, warns E.B. Tucker, here’s how

Kitco News

Back in the 1930’s, President Franklin Roosevelt issued Executive Order 6102 that required everyone to return their gold holdings back to the U.S. government.

Although the limitation on gold ownership has since been repealed, the risk still remains that governments could do this again today, albeit only if gold prices were much higher, said E.B. Tucker, director of Metalla Royalty & Streaming and author of "Why Gold? Why Now? The War Against Your Wealth and How to Win It."

Tucker said that it is “highly likely” that confiscation could happen today.

“The methods and the means change over time but the general principal does not change. I do think it’s likely that gold runs into the same problem it did in the 1930s but it’s going to look different. Today, for instance, you could have a campaign against gold, but at a much higher price. Right now, not enough people own it, so gold confiscation doesn’t come into play until it’s a much higher price,” he said.

Governments have an incentive to eliminate currencies that can’t easily be tracked, and also exercise control on the population, Tucker noted.

“Gold is an anonymous currency, and at some point it will be a target for the powers that be, and it’s a very logical course that it’s on, but at much higher prices. That doesn’t happen at $2,000,” he said.

Importantly, when gold was confiscated in the 1930s, the gold standard was still in place.

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