Even if you can get a good price of precious metals, are you concerned that our government can confiscate your gold some day? After all, gold silver prices are one thing, but if you build up your gold and silver holdings, what’s the use if the government is just going to come in and take it from you anyway?
Currently there are thousands of new gold and silver buyers coming into the market every week. Unfortunately many of them are non sophisticated buyers and can easily get sold a bill of goods if they are not really careful, and educated, before buying precious metals.
This is a tactic from some gold and silver broker’s play book. So what’s all this I hear about the government possibly confiscating my gold and silver? Is that possible?
For the most part, I believe confiscation is simply a “fear tactic” used by some very large brokers to scare and convince customers to buy overpriced items that they believe will not be confiscated in the future.
The true answer to the question is… the government can do anything it decides it wants to do, and no one can predict its’ actions. It’s my opinion that you have a better chance of space aliens coming down and taking your metals than the government.
Gold is nowhere near as significant of a part of the monetary reserves in the US as it was in 1933 when the government asked the citizens to turn in their gold.
Plus, if you hold physical gold and silver, you either have to voluntarily turn it over to the government or they have to find it. In 1933 only about 20% of the people actually turned in their gold to the government. Nothing happened to the other 80%.
My advice; know the facts, stick to your plan and don’t allow yourself to make fear driven investment decisions.Additionally, if this still concerns you, there are a lot of options for storing your metals domestically and in various countries overseas.
Because of this fear with some people, some investors are turning to more creative ways to buy gold in an attempt to cover their tracks. Did you know that the purchase of gold and silver does not have to be reported in America? Only if you pay with cash in the amount of $10,000 or more, the cash transaction is reported, the actual purchase of the gold is not.
Some of the members in my wholesale metals buyers club are now paying by making cash deposits under ten thousand dollars at a time, and having their metals delivered to a UPS store, so there is no record of a ship to address. All of this is perfectly legal and up front. It’s just a way of acting smartly when you don’t know what the future holds.
If you don’t own a large quantity of metals, overseas storage may not be an affordable option for you. On the other hand, if you do own a lot of metals or have a significant amount of funds to invest in metals, this could be a great option for you.
Source by Doyle Shuler
Confiscation Of Gold - Can The Government Confiscate Your Gold?
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