THE RIGHT TO OWN GOLD 
Are We About To Lose It Again?August 2010 Alert
Are We About To Lose It Again?August 2010 AlertDid you know that the U.S. Government still has the authority to prohibit private possession of gold and silver bullion by U.S. citizens during wartime and declared emergencies? It's true.
Some believe that the prospect of government taking away our right to own gold is a bit far-fetched but this is precisely what happened less than 80 years ago. President Franklin D. Roosevelt set the precedent for government's legal power to confiscate gold back in 1933 with Executive Order 6102.
Roosevelt used the powers of the Trading with the Enemy Act and the Emergency Banking Act to force the sale of gold bullion at $20.67/oz. He then reset the price to $35/oz., effectively robbing private owners of 75% of gold's value!
Could the Treasury again resort to confiscating gold bullion from citizens to pay public debts?
A lot has changed since the last gold confiscation in this country. The Obama Administration has grown the size of government exponentially since 2009, and it becomes more intrusive into our lives every day.
Starting in 2012, Americans face yet another major power grab by government. Buried within the massive 2,801 page "Health Care Reform Act of 2010," Section 9006 requires every U.S. business and self-employed individual to report all purchases in excess of $600 on an IRS 1099 form.
Meanwhile,The Wall Street Journal reports, "The financial-overhaul bill includes a provision limiting public access to SEC records that runs counter to the administration's policy of more government transparency."
Welcome to the new era of "change", where complete financial transparency is now demanded of all citizens, except for the ruling elite in government. It's like a one-way mirror; they can watch us but we can't watchdog them.
"Barack Obama....is undermining our constitutional traditions: The rule of law and our Anglo-Saxon concepts of private property hang in the balance," write two former Treasury Department officials in Investors.com.
The Obama Administration urgently needs new ways to finance its stratospheric government spending. One proposal under consideration is to take control of the private retirement accounts of Americans. The Treasury has indicated that they would have no problem confiscating gold again.
Is any form of gold exempt from confiscation?
"Historically, governments have banned the ownership of gold just prior to their citizens losing confidence in their fiat paper money. During the last U.S. gold confiscation the only gold holdings that could be kept without fear of confiscation were collector coins. Although the laws could be changed, numismatic coins have historically been the most reliable form of gold to own,"writes Swiss America Chairman Craig R. Smith.
Dr. Franz Pick, the noted currency expert and author of The Triumph Of Gold, feared confiscation. He said: "I am afraid that one day the government will indeed call gold in. Gold bullion will be subject to confiscation. Today there are some 49 countries which forbid ownership of gold by their citizens, but DO allow holding gold coins for numismatic purposes. For these are the only gold holdings that could be kept in your safe deposit box without any fear of confiscation."
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