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Gold Confiscation: How You Can Protect Your Wealth From It

Summary

Difference between expropriation and confiscation.

How would gold confiscation be like today?

Impact of a confiscation event on bullion, jewellery, mining stocks and numismatics.

Options you have to protect your wealth from confiscation.

Bron Suchecki, a returning SBTV guest, speaks with us at The Safe House about the topic of gold confiscation (like when FDR issued Executive Order 6102 in 1933), how likely it is to happen again and how precious metals owners can minimize this risk. Bron Suchecki discusses the possible impact of the occurrence of a gold confiscation event on different assets: bullion, jewellery, mining stocks and numismatics.

Discussed in this interview:

  • 00:43 Difference between expropriation and confiscation.
  • 05:03 How would gold confiscation be like today?
  • 09:55 Defense against a gold confiscation event.
  • 11:35 Offshore storage as a delaying mechanism.
  • 14:02 Considering the jurisdiction for offshore storage.
  • 19:23 Impact of confiscation on mining stocks.
  • 21:54 Industrial uses of gold are usually exempted.
  • 23:07 Confiscation of jewellery.
  • 26:17 Australia's Part IV of the Banking Act 1959.
  • 31:29 Why the RBA only suspended Part IV, not repealed.
  • 37:14 Impact of confiscation on numismatics.
  • 39:14 Would silver be confiscated?
  • 41:46 Prospect of recalling legal tender coins.
  • 43:51 Holding legal tender coins vs bars.
  • 44:46 Mindset of a safe haven gold buyer.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.