Confiscation? Again? - why another gold and silver confiscation is unlikely

n 1933, in the midst of the great depression, President Franklin D. Roosevelt issued executive order no. 6102, prohibiting the "hoarding" of gold bullion and confiscating it from the hands of American citizens. All and all, 2665 metric tonnes of gold were confiscated and taken the national bullion depository at Fort Knox. Soon after, the US dollar was devalued compared to gold, from $20.67 to $35 per ounce. This was done in an effort to fight the deflationary spiral which gripped the nation.
It took more than 40 years for the ownership of gold bullion to be legalized again in the US. No wonder then that gold and silver investors are concerned that history will repeat itself. In this episode of "The Silver Hermit Podcast", I discuss with my friend Brian from the ‪Mountain Bullion‬ YouTube channel the likelihood of another gold & silver confiscation. As you will see, we make the case that such a move is unlikely, due to the different economic and social circumstances we have today.

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Music: Michael Kobrin - The Introvert
https://youtu.be/UufcCic_lQQ?si=Wn_c13yBG-WpJBmA

#gold #silver #confiscation #finance #economics #investment