How did they confiscate gold? : LUSENET : TimeBomb 2000 (Y2000) : One Thread

You hear much about the 1933 government seizure of gold, but just how was this accomplished? Did the gov't goons go house to house and search (not very believable) or did they rake it in by threats of fines and jail terms for non-compliance? And how did they know who had gold stashed in the first place? Did they get most of it?

-- (, December 08, 1999


Good questions but I think it is pretty simple. They declared gold illegal to own. Seems to me that it was Nixon who changed it back to being legal. Once they say gold is an illegal item it is very difficult to use and easy for the gov't to confiscate when it shows up.

-- rod (, December 08, 1999.

As I understand it, it wasn't truly a confiscation. The government offered to buy your gold at far less than it was worth, & then simply forbade the selling of gold to anyone else at any price. IOW, if you had gold, you couldn't legally sell it to anyone besides the government. Most people did neither, & simply sat on what they had until the ban was lifted, many years later.

(There were separate rules for "numismatics," collector's coins that aren't considered bullion because their value is way beyond that of gold as a metal.)

If you want more on this, go to the Gold Eagle web site. They cover the topic very thoroughly.

-- don't (worry@be.happy), December 08, 1999.

Yeah, sorry I don't have a link, but go to and scrounge around. You should be able to find a copy of Roosevelt's 1933 executive order declaring it to be ILLEGAL for U.S. citizens to possess gold. And, in that E.O., the act of private ownership of gold was described as HOARDING!!!!!!

Things that make you go Hmmmmmm.

-- King of Spain (madrid@aol.cum), December 08, 1999.

A key element of the 1933 event was not allowing the opening of any bank safe deposit box without an IRS agent present. If there is a repeat, no one will be able to get gold in a safe deposit box. I do not recommend holding gold or currency in a bank safe deposit box at this point.

-- David Holladay (, December 08, 1999.

At the time of confiscation, the price of gold was $20.00/ oz.; the edict went forth to turn in gold, as it was needed to repair the intentionally destroyed economy, and you would be paid $20.67 for every ounce. Hoarders were the unpatriotic, of course, and were to be dealt with harshly. Very shortly after the gold came in, the official price was raised to $35.00/oz., thereby creating quite a profit for the PRIVATE stockholders of the federal reserve banking system.m Criminal? Absolutely! But done under the color of law in colusion with our leaders.

-- Patrick (, December 08, 1999.

If we ever reach the point where "bullion" becomes illegal, just go see your local jeweler, and have his goldsmith make ingots out of your metal, then roll them out into "bangles". For Hindu women, it is against their religion to remove their bangles (which are the equivalent of our wedding rings). You could state something similar, too. Hospitals here are used to encountering women and men who refuse to remove wedding rings for surgery, the preop staff simply tape them in place to keep them from falling off. So, what I am saying here is this: You can state that your bangles are like your wedding rings, and you will not remove them, and then there is nothing that the govt. thugs can do.

PS. The women of India own WAY WAY more gold than the govt. of India does. Even if quite poor, most women will at least own a pair of gold earrings, or one bangle.

-- (formerly nobody@nowhere.zzz), December 08, 1999.

Does anyone know what the value of gold was at the start of the depression? From what I understand, precious metals decline in value during a deflationary depression. Thanks

-- Rich (, December 08, 1999.

I'm sorry, let me rephrase that question...Does anyone know the price of gold just prior to the 29 crash? Thanks again.

-- Rich (, December 08, 1999.

Yes I suspect that my friends cetrifugal caster will get a real workout if they try to seize gold coins

No coins here, but look at this work of art!

-- LM (, December 08, 1999.


.....As I've stated above, $20.00/oz. That means an ounce was and still is a twenty-dollar gold piece. The $35.00 price, (which is STILL the .gov's OFFICIAL price today), was a scam on the populace. Coincidentally, that $20.00 piece back then would buy you a new suit with an extra pair of pants, today it buys the same. When you see the price of gold going up or down, it isn't the gold changing value, it's the elastic nature of your fiat currency that's being reflected. However, a caveat; today that is "somewhat" less true due to the incredible amount of market manipulation going on to keep metals artificially low, probably for psychological effect.

-- Patrick (, December 08, 1999.

Remember, we were on a gold standard back in '33. The government opted to confiscate the citizens gold (steal it) instead of revaluing the gold already in possession by them.

We are no longer on a gold standard. That sort of changes everything. Is confiscation coming? Not unless we go back on a gold standard.

Also, back in '33 the people overwhelmingly trusted the government. Not so today. Confiscation would go over like a gun ban would. You would probably see large pockets (capable of swelling) of insurrection over this.

-- OR (, December 09, 1999.


-- b (a@g.b), December 23, 1999.



-- j (a@s.b), December 23, 1999.

Moderation questions? read the FAQ