If you hold precious metals in your portfolio, there is a good chance you fear hyperinflation and the crash of fiat currencies.
You probably distrust governments in general and believe they are self-serving and have no interest in your economic well-being. It is likely that your holdings in gold are your lifeline – your hope to get you through these times while holding on to your wealth.
But have you ever given any thought to the possibility of having this lifeline confiscated by the authorities?
In my conversations with friends and associates, I have often raised this question. The typical responses:
“They’d never do that.”
“I’ll deal with that if and when it happens.”
“I just wouldn’t give it to them.”
I consider these “wishful thinking” responses.
It’s an interesting thought that the greatest threat to gold and silver investment might not be the possibility of losing on the speculation, but the government taking it away from you. It’s a thought that I’ve found few want to even think about, let alone discuss.
If you fall into this camp, you’re in good company. Some of the forecasters whom I respect most highly also treat it either as unlikely or at best, “something we may need to look at in the future.” To date, in conversing with top advisors worldwide, the two primary reasons they believe gold will not be confiscated are:
- “Confiscation would mean the government acknowledges the reality of the value of gold.”
Yes, this is quite so. They would be changing their official view… which, of course, they do all the time. But I submit that all that they need to do is put the proper spin on it.
- “They would meet greater resistance than they did back in ’33.”
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