Gold Confiscation or Nationalization by FDR 1933

Gold confiscation is wrong! The #1 best selling author on Gold and Silver, Mike Maloney, explains why the US Government did not confiscate gold. Visit http://goldsilver.com/home/ref/992/ to find out more.

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[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!

[19TEC85]

Nationalization is evil enough.

[GoldMikeMaloney]

@19TEC85 you got that right ;-)

[Ganbareg]

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

[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.

[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.

[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.