Gold Confiscation or Nationalization by FDR 1933

[stormspottter]

the government didn't reimburse, when they thought they had all the gold, they increased the price per ounce devaluing the dollar

[hasaanbey1]

furthermore... you say they bought the gold and silver and the people were reimbursed at full value... well the dollar is only worth a few pennies.... so the full value crap doesn't exist... and plus in America, gold and silver is the only tender that can be used to buy... buying the peoples currency with worthless paper is fraud... The paper "dollar" has the words "ONE DOLLAR" written across its face, yet it is only worth a few pennies; HELLO... THATS CALLED FRAUD PEOPLE!!!!!!!!

[hasaanbey1]

wasn't confiscated or nationalized; it was stolen... Those people are nationals of European nations.

[flyermay]

On his explanation as for why it will never happen again: first, if they're nationalising, then there already is something wrong with the dollar, and everyone would be able to see that before the nationalization; and second, the nationalizations itself would actually boost confidence in the dollar, so people would not dump it, they would buy more dollars expecting it to rise with the nationalization of gold.

[flyermay]

Did he said they reimbursed you at full value?... Well, that's not what happend. They took all the gold from the American people (except collectable gold coins), and they paid them $20.67 per troy ounce, when the international markets were paying $35 an ounce.

[111Socrates777]

I believe in buying gold, but don't trust Mike Maloney at all.

[TeMpTeK1]

Whether you call it confiscation , nationalization or Obamacare for that matter..They govt cant compel you to sell them your gold just like they cant make you buy health insurance..Here is my take on the gold confiscation myth ..

watch?v=HuMmQX2TWoQ

[MONOPOLY35]

I'm not going to sell gold except for survival purposes.

[YouTheory]

Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism Nationalization = Communism

[YouTheory]

TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON! TREASON!

[Tinkerstien]

There was a threat of a hefty fine and jail time if you did not turn in your gold in 1933 for paper. You can call it a forced lop sided bad de4al for the public at the barrel of a gun, or threat of fines or jail time. Government is evil and dispite what some people think, government only exists for the benefit of itself not the illusion they exist for the welfare of its subjects.

[MrFoxfan67]

These guys are idiots!!!!! THe Government gave paper (which lost value) for gold which gains value! Hence the people lost not only their right to keep gold but they lost the value of the gold for worthless paper! In a word.. these guys SUCK!

[bradjbourgeois73]

I just saw a video claiming this, and for some reason the comments were disabled. I wonder why? lol.

[nathansensation5]

who the hell would actually poney up and honestly say they hold precious metals to be "reimbursed". i would doubt even 20% of precious medal holders would even tell the government they own precious medals if it came to that. You can have my gold and silver over my dead body

[rebelq1]

'Confiscation' is a euphemism for 'mugging' or 'stealing'!

[pkpapers]

"... if the economy is running smoothly ..." "...under normal circumstances..."

[mssquirrely]

IMPORTANT at 1:15 that's a big "IF" I had a feeling with all those Gold for Cash commercials/advertisements that something was brewing.

[plopnod]

@mssquirrely I feel the same way!Good call!I know you meant "cash for gold"

[alphakid42]

Even if it is unlikely, there is no law preventing gold confiscation, so we need a constitutional amendment ensuring our right to own precious metals.

Printing, borrowing, & spending money beyond reason is what got us into this mess. To safeguard our standard of living, the US dollar must be stabilized by a balanced budget amendment which limits annual spending to revenue, with clear prohibition on expanding the money supply.

[Landotter1]

He's right that's why there is "cash for gold dot com" This is how the government is buying our gold and at scrap prices.... What a great scam. Wish I had thought of it...

[Pdrum2]

@Landotter1 I agree, why the heck would you want paper dollars.

[Xsteppin]

@themos2818 read article 1 sections 8-10 of the constitution

[penguinistas]

I would have to disagree with you Mike, at least in part, regarding whether gold was confiscated or not.

When FDR took everyone's gold, they paid $20 per ounce. But just a few later they revalued the gold price from $20 per ounce to $35 per ounce resulting in an instant loss of 42% for everyone holding fiat currency.

If that's not in your face armed robbery, then I don't know what is.

[Chaosprincess01]

He said "If the economy is running smoothly". Fail.

[thetimman00]

The government set the price and bought it at that rate, then revalued gold up, after the "confiscation" was complete. This revalued the paper currency DOWN.

[MsBonSaint]

NAZIonalization.

[thnksmarter]

The government 'compensates' everyone's gold and repays at $20 per troy oz. Then they raise the value of it to $35 in order to realize profits for the Exchange Stabilization Fund established by the Gold Reserve Act of 1934. There was a realized profit on the government's behalf, not the citizens' behalf. If that is not confiscating property or raping the public, what on earth is?

[manny298]

This guy is a Nazi because he is OK with then taking your gold away...

[seobro]

OK, the law said you got to keep $100 in gold coins. However this is what I was told by an old farmer last year. This guy is very senior. He told me he lost all his money. The banks went under and his money was gone.

Then police showed up. They took all his gold coins - he did not have very many. Sadly, cops did not give him a penny. OK so he had to auction off farm equipment to pay his taxes. He could not save all his land because he got almost nothing in the auction, but he did save some.

[MrHarry46]

the illegal 16th amendment of 1913 to the US Constitution (rammed through congress by who? you guessed it ...the rothschilds of england, bankers ,est worth 500 TRILLION, owners of the federal reserve bank of the USA) started this entire cycle cycle of death. article 1 section 8 is the origianal wording of the Founding Fathers. "ONLY" the United States Treasury "shall coin money"

READ YOUR CONSTITUTION AMERICA !! END THE FAKE FED

[MrHarry46]

1933 was a confiscation by "hoodwinking". the newly created "fed" and irs stold gold in 1933 by shelling out worthless trash paper for gold. just like the rothschilds of england "hoodwinked" americans with the illegal "federal reserve act of 1913, 20 years earlier. just as the rothschilds are now set to destroy the their fed res note by hoodwinking americans yet again. this time killing the rothschild note(its NOT a United States Dollar its a federal reserve note)

[canto896]

Buying gold is not the solution as Roosevelt's Gold Confiscation Act ( 5 April 1933) allowing the US government to confiscate all the gold privately owned by the American citizens in order to save the Nation from bankruptcy can still be used .

[Uncle5cary]

Last week someone nationalized my TV set. He relocated it from my house to his house and gave me some paper in return. It is impossible to underestimate the stupidity of the govt.

[bigbrother1994]

this just pure baised point of view. they give people piece of IOU paper and take your gold off u without choice.and this guy is defending it.

[w0tm]

true --but but but our government is as dumb as a sack of hammers. They will panic and do crazzzzzy things as the dollars absolutely craters. You said it EXACTLY when you said "we are doing things never done in history. I have silver but I should have bought other commodities that the government will NOT blame for the chaos THEY created. My silver will be buried and I'll be in jail the rest of my life or dead. The USA=3rd world nation. China will own the world.

[JRTJRTJRT]

The term "confiscation" has no bearing on whether or not compensation was issued. If the government took possession of your gold without giving you a choice in the matter, it was confiscation.

[GoldMikeMaloney]

@JRTJRTJRT Roughly 25% of the population turned in their gold, that gold was melted and moved to fort knox, about 75% of the population hoarded their gold (none were ever prosecuted). Consequently the old coins are sill around and one can very easily buy pre-1933 gold coins today.

[tmbdew19]

@GoldMikeMaloney if the dollar is going to loose its value why are people giving gold and silver for the exchange of our worthless paper?

[GoldMikeMaloney]

@tmbdew19 Because they don't understand the fundamental reasons for why it makes better sense to currently hold gold and silver than fiat currencies like the dollar, euro, pound, peso, whatever.

Search engine -> "Do Not Sell Your Gold or Gold Jewelry" and you can find an article we recently did on this very subject. All the best and thanks for the question!

[mrmeach1967]

@tmbdew19 Excellent question. The answer (I think): People buying your gold with paper dollars need that paper to buy everything else. Gold used to be money before 1933, but following the confiscation (excuse me... "nationalization") it ceased to be so.  Since then, if you want to buy gas or groceries or anything else for that matter, you needed to (and still need to) use paper dollars.

[canto896]

@JRTJRTJRT

The name was "confiscation Act" . Of course Mike Maloney's interest is that people should buy his book about gold and silver. Buying gold is not the solution as Roosevelt's Gold Confiscation Act ( 5 April 1933) allowing the US government to confiscate all the gold privately owned by the American citizens in order to save the Nation from bankruptcy can still be used .

[Ibesambo]

@JRTJRTJRT

I knew an old man who had his gold teeth confiscated ... it left him speechless

[Gitanu07]

two bad i don't have the money to buy it

[publicanimal]

When he says people were reimbursed at FULL VALUE in 1933, that's not entirely true. FDR fixed the price of gold to lower than market value, thus people were getting LESS THAN full value for their gold.

[harrybath]

@publicanimal yes true but that can't happen again, China and India will be in a race to become the new global currency, if they value gold at its true value in Yuan for example than people around the world will rush in to the Yuan. They are already planning this by making gold and silver bullion available to their citizens at the banks

[19TEC85]

Nationalization is evil enough.

[GoldMikeMaloney]

@19TEC85 you got that right ;-)

[Bill1405]

@19TEC85 Nationalization is another word for socializing. Socialisem is liberalisem which means the democrates want our money for themselves and will take from the people what they want, when they want, and how they want to take it.

[polygamous1]

@19TEC85 T Jefferson maybe the Greatest statesman of all times: a government big enough to provide u with all u need is big enough to take everything u got: when the government is afraid of the ppl u have Liberty n freedom when the ppl are afraid of the government u have Tyrany n slavery this happening in this great man's country? he also said Only by aducating the public can we guarantee our future freedoms how america n the world NEEDS him so bad now

[tigranvartanovitch]

He left something out. After they "nationalised" the gold, they doubled the gold price. As for the "compensation". I should think they got most or all of that back in the form of taxation. Sounds like confiscation to me.

[monkeyman1140]

And did FDR give the gold back?

[GoldMikeMaloney]

Did the citizens give back the $20.67 they were given per nationalized ounce?

[thnksmarter]

@monkeyman1140 Not a damn oz. It is supposedly locked away in a vault, but since there has been no financial audits of anything the central banks own since 1913, there is no way to tell. What numbers they give us is what we get.

[Estate17]

Can anyone answer a question of mine? he says that the nationalization cannot happen today because the US dollar is used overseas but the most likely scenario is that the governments overseas will dump the dollar before the average American would. So at that point it wouldn't make a difference to outlaw the ownership of gold in a last ditch effort to maintain the dollar. If fact it would probably make the dollar last longer.

[rickrocker]

"It can't happen if the economy is running smoothly" This video was uploaded in 2009, the economy hasn't run "smoothly" since the 90's.

Famous last words.

[stealthbeast]

lol! Trying to reimburse gold with cash is pointless... the reason why people buy gold is because they DON'T WANT cash!

If the government confiscated my gold (if I had gold =[ ) and "reimbursed" me, I'd go right on over and buy platinum.

[ArcyTheFurryArcanine]

Confiscation and nationalization are both theft. What if the government said they wanted by gold? I will give them lead in their empty heads

[bettyloutumor]

just as i thought. you're a fucking pussy LOL! :) loser :)

[ArcyTheFurryArcanine]

@bettyloutumor

LOL. Wow. Looks like I have a stalker who loves me so much they just can't leave me alone. Thanks for being my fan

[bettyloutumor]

don't flatter yourself, loser LOL :) you're just a little worthless pussy :) hehe :)

[inkey2]

to onemindonespirit: I am trying to learn something......during the 1933 gold coin nationalization (confiscation).....did they confiscate gold coins dated/minted before 1933?

[inkey2]

well thats the key phrase "the government won't nationalize gold AS LONG AS THE ECONOMY IS RUNNING SMOOTHLY"

[Drastam]

It was legal theft.

Dont buy anything from this charlatan.

[teller121]

Also, don't forget just how petty people can be, at all levels. They'll take gold just to have the last word.They know we are out there enjoying gld and slv ownership and they hate you for it.They'll take it just to show you who is in charge. Don't comply? OK, you'll never know if, on a black market, you're dealing with a fed or fed stooge.If you don't turn it in, you'll be like those people with coins after '33; they were "criminals" and had no use of it till '74, by Pres Ford's order.

[teller121]

I like this guy and have his book, but I can't figure out why his site always shows his metal on back order.

I think he is wrong about nationalization/confisc. because the "G" will do it for 3 reasons:

1) the G (us and world) will need $ and gld is worth a trillion now (just that owned by Gs) and more later;

2) the kind of people who deal in gld and slv will need to be subdued; they don't like G and have guns; statists hate us (check CNBC sometime and listen to gold comments sometime).

[MrGreatLakesBuffalo]

10% rule. I always take 10% of my money and buy silver and gold. Do that for a lifetime and be consistent, you will be fine and your kids will thank you. Just ask all the stupid fucks who lost money to Bernie Madoff. They were so sucked in by greed. They loved the big returns. Well, gold and silve pay no dividend or interest. But you will never lose. Have failth in Gods money!

[Estate17]

@MrGreatLakesBuffalo Couldn't put it better myself. I'm a college student and I've been putting 50% of my income into gold and silver only because at this point I can afford to but once I grad. college I'll be putting 10% into silver and gold. I can't hurt thats for sure.

[Raycheetah]

During the hyperinflation in Weimar Germany in the '20s, those who did best were those who owned farms, and those who owned silver and gold. They didn't sell for paper; they preserved their wealth. Besides, as a US citizen, I don't care at all for the government telling me I can't legally own lawful money as defined by the US Constitution. The penalty prescribed in that document for the crime of debasing the currency is DEATH. Bernanke is guilty. ='[.]'=

[Ganbareg]

We have been mugged by our goverments since day 1 people, wake up.

[akiraguy]

buy slver!!! and buy it fast.

gold can be confiscated. silver cannot. at least not yet.

[chapthe]

They did not "put it in one place, onwed by the government". All Gold was given to the privately owned FED of the bankster cartel, or not? Btw: the Dollar is on the way to hyperinflation. No doubt about that. So prepare for the worst, gold bugs. Buy Silver!

[superchink28]

Nonsense! First of all in 1933 they didn't pay the full amount. The money they offered to people is much less than the spot price.

Secondly, they take your gold and give you paper. And that's the biggest problem!

[kensho3]

Yeah, and what about the gold that people are holding to pass REAL wealth onto their children? Paper just doesn't seem quite the same, does it? ;-)

[onemindonespirit]

Absolutely agree. I think he's more referring to those coin dealers who try to sell people pre-1933 coins because they may way more money when people buy those. They claim that those coins are can't be confiscated (which is not true), but those are not a good investment.

[StevenM818]

superchink28 people were paid the full value of their gold in 1933 ($20 oz). However, in 1935 the U.S. dollar was devalued, which drove the price of gold up to 35 dollars.

[inkey2]

to stevenM818: just curious.....what did you mean when you said the US Dollar was devalued in 1935. Was there literally an announcment as such or did it "just happen" by other means?

[StevenM818]

See:

Executive Order 6102

The Gold Reserve Act of 1934

After the 1933 "confiscation", the dollar was revalued (devalued) for international transactions in gold from $20.67 to $35 an oz.

[acortot]

Yes, but if they nationalize GOLD, they will be buying it with paper..

and if you have hyperinflation, the government would be screwed anyway so they'd grab all the gold and leave all the worthless paper to the people.

[frontier1701]

100%.... now that's what I call conviction!!!

[dmgoddard]

Mike, your rational point of view is much appreciated. Your channel and Peter Schiff's are my faves on YouTube

[cosmolito]

Keep up the great work Mike - thanks for being a voice for positive change :)

[MrLinkJuice]

Mike you're the best - I love that you're 100% invested in gold and silver!