Just waiting for Obama to go full blown FDR on this.
RE: Just waiting for Obama to go full blown FDR on this.
He can’t do this without roiling the financial markets.
Too many people own the metal whether on paper or physical, and many of those who own the physical stuff do not keep it physically in the USA.
Besides, how’s he going to enforce it? Is he going to hire agents to go house to house to see if you’re hoarding gold or silver?
70% of all dollars are held outside of the US.
Any attempt to confiscate Gold would be like yelling “Dollars are worthless!!!” All the foreign holders of USD would rush for the exits.
Also: very little gold would actually get confiscated.