Will the US government confiscate gold and silver?
I heard they did this in the past. I think it was during the gold standard. How likely is this to happen again? Will the government pay the gold holders for the gold they confiscate? How could they possibly know who has gold and who doesn’t? WIll they search every home in America?
Isn’t the 5th amendment the right not to incriminate yourself?
If the Gov’t did this, it would have to provide just compensation for the gold per the 5th Amendment under Eminent Domain laws.
And yes, this was done in 1934 under the gold standard, during which the Gov’t set the price of Gold and barred its free trade.
This will likely never happen again, as we are incredibly unlikely to ever go back to the gold standard.
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