It’s Friday, which means it’s time for Feedback Fridays, when you bring the discussion to us. Have we mentioned that we want to hear from you? Send your comments, queries, conundrums, and complaints to tdv@dollarvigilante.com, comment on a post, or get on the forums.
On to the feedback…
Dear TDV,
For those of us stuck in the USSA, how likely does TDV think it is that the government will seize precious metals assets in private depositories such as the goldsilvervault.com in Idaho? I am primarily concerned with silver.
Thank you,
Ron
Vin Maru’s Response:
Dear Ron,
The topic of gold confiscation is something we cover regularly in TDV blogs posts, however we provide solutions to protect your precious metals in our paid newsletters and in our special report “Getting Your Gold Out Of Dodge”. Everyone seems to have a different opinionsabout the confiscation of precious metals and there is no way one person can know what plans the sociopaths and criminal economic planners have in store for us. The USSA already confiscated gold back in 1933 when Roosevelt issued executive order 6102 and confiscated privately held gold. He did, however, have a few exceptions to the greatest gold heist in history (so far) and they were as follows:
Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following:
(a) Such amount of gold as may be required for legitimate and customary use in industry, profession or art within a reasonable time, including gold prior to refining and stocks of gold in reasonable amounts for the usual trade requirements of owners mining and refining such gold.
(b) Gold coin and gold certificates in an amount not exceeding in the aggregate $100.00 belonging to any one person; and gold coins having recognized special value to collectors of rare and unusual coins.
(c) Gold coin and bullion earmarked or held in trust for a recognized foreign government or foreign central bank or the Bank for International Settlements.
(d) Gold coin and bullion licensed for the other proper transactions (not involving hoarding) including gold coin and gold bullion imported for the re-export or held pending action on applications for export license.
Short answer is, the government and central banksters can and will do anything they want. They are in survival mode and they reek of desperation. The recent take down in the gold price is a good example of what they are capable of doing. They are manipulating and controlling almost all aspects of our lives, especially the financial markets. So eventually if everyone rushes into gold during a currency collapse, they may make it illegal to buy precious metals at that time and then retroactively charge you a windfall profit tax if you currently own it. Alternatively, the insider financial elite could be buying and hording the metals for themselves knowing full well that gold will be re-evaluated multiple times higher during a re-set of the currently failing monetary system. With the recent take down in price, I suspect they could be covering their short position and acquiring all the physical metals they can while continually trying to talk down the price via their paid media outlets. There are dozens of possible scenarios of how this financial collapse will all play out. Gold is just another asset class they will try to steal from you when and if it happens.
So when you ask how likely is it that they will confiscate gold, my answer is “I really don’t know”. But for now, it’s not illegal to own gold so having some in your hands is the best way of owning it, just don’t tell anyone except beneficiaries that you own it. If you have a significant amount of precious metals and you need to vault them, then look for a private vault outside of the financial system and build a good relationship with them. You may also want to consider buying and storing some of your precious metals outside of the country you currently reside in. We can show you how here. Buying precious metals as a store of value comes down to your personal risk tolerances in wanting to protect your assets. Where to store them is a matter of convenience and preference.
If the US confiscates gold (again), they will be the first Western nation to do so in recent history and it really will show how desperate they have become. Criminal doesn’t even start to describe what Western financial planners have become. We only have to look at holders of bank deposits in Cyprus as a prime example of what they have in store for anyone with significant amounts of wealth. Of course the planners and thieves will exempt themselves from the very same confiscation they have planned for everyone else. Most western governments are enacting laws that will allow for “bail-in” during any future banking crisis. This means all Western citizens with money held in banks in excess of the insured deposit amounts will become “Cyprused” and you will lose it. What most people don’t know is that your money on deposit held with banks is no longer your money. Essentially you have loaned them that money and are now a creditor to the bank. In case of a bank failure, good luck in trying to collect any money over the insured amount. You are at the bottom of the totem pole and there will be nothing left over for you.
The East on the other hand is still acquiring gold and there seems to be no talk of confiscation there. The culture in India has an affinity to gold and they will always buy now and in the future without fear of theft from the gov’t, just possibly higher taxes. China has made purchasing gold easy and actually encourages citizens in precious metals ownership. The same goes for most of Asia and the Middle East. They have become net buyers and that trend won’t change because of price drops or fears of confiscation from Western planners.
It really shows you the two opposing views to owning gold there are in the world. While the East embraces precious metals as store of value and protection from inflation and gov’t theft, the West considers PM as barbaric relic only to be held by central planners hidden in vaults never to be seen or accounted for. So the question about holding gold comes down to where you want to hold your gold without risk and fear of confiscation. For that reason look we suggest you look towards the East for safe harbor; the West will only bring you misery and fear of possible theft and/or taxes. If you are interested in learning more about precious metals and resource investing, you may want to subscribe to my news letter at TDVGoldenTrader.
Hi Jeff and Gary,
So inspired by all you do at TDV. Its the education I wished I would of received many years ago. My question is on passports. Living in the US I have an opportunity to acquire my citizenship through birthright in Italy. Given the volatility in Europe would I be better off with a passport/citizenship through one of the countries TDV has indicated and then go from there? Planning on leaving within the next 12 months…
Sincerely,
Tommy
Jeff’s Response:
I'm almost tempted to say that any non-US passport is a good passport. But I myself was a Canadian citizen and Canada really essentially is the US-lite. They're a smilier version of the fasco-communist US with a full blown nationalized medical care system to make the world think that their version of fasco-communism is more caring of its inmates.
I would go so far as to say that citizenship in any Western country is a liability. The US is the worst. They're the ones that will tax your income around the world. The US is the one looking to create a full police surveillance state and prepping for war againsts its citizens. But while the US is saddled with its sick, murderous imperial baggage, the rest of the West is collapsing under the burden of the welfare/taxation/inflation state.
That's why we here at TDV offer citizenships in the countries we do. These are tiny Caribbean or Latin American nations — and one Southeast Asian nation — that simply don't have the desire or reach to mess with their citizens' lives and money that the Western nations north of Mexico and in Europe do. As far as Western nations go, we suppose Italy is a step up from the US. Italy won't try to steal the money you earn around the globe or record every electronic communication you make.
And just because you hold an Italian citizenship and passport doesn't mean you have to live in Italy or even anywhere in Europe for that matter. You could adopt the Permanent Traveler/Prior Taxpayer lifestyle with your Italian passport, too. If it's straightforward enough for you to get due to your heritage, then it may well be worth it. If you do get that Italian passport, just remember that what happened in Cyprus could just as easily happen in any Western nation, especially the blatant economic basketcases. Use your Italian passport as a bridge away from the US. Do not think of Italy as a place to do business or store your wealth.
For those without the heritage option TDV offers the most economical and sensible options. Even if you start with a European nation for your second passport because your heritage makes it relatively easy to do so, we still recommend taking a look at our Caribbean and Latin American options we make avaiable. (Do so by clicking here.)
Gary's Response:
I was born a citizen of a tiny Caribbean country and just never bothered getting my US citizenship. Long before I became the anti-state loudmouth that I am, I had a feeling that the US would eventually become the kind of place that the smart money would be fleeing. So my first passport is the kind of thing that the smart money is trying to acquire as their second passport. While this spares me a bit of the urgency I'd feel if all I had was a US citizenship and passport, I still really like the passport options TDV offers and am thinking of one in particular that would be a much better travel document than my own.
If all I had was a US citizenship, however, I'd be getting very nervous by now, especially if I hadn't alread pulled the trigger on one of TDV's citizenship and passport programs last year.
