I believe ,if Im correct there was another gold "return request"(=confiscation) by the gov in the usa in the late '80's...and I believe that law in Aus is still on the table...this was discussed here before on the forum...
Good question. Be interested to see. Definitely happened in the times when silver was money but typically it was stolen by the king from the nobles to fund their latest war/castle/palace/etc (in exchange they got to keep their "privileges" in the original sense). Peasants were too poor to bother with, forced to use grossly debased currency or were fodder for the wars while the merchants were on the giving end of the "spoils of war".
silver was also discussed before and if Im correct(again) a member mentioned that the gov can take back all the silver with face value...this was not confirmed but mentioned...
Just shows how precious it is...and has always been. If they come after mine...I'm outta the country.
You will find most countries have a clause in their currency laws that they can recall/cancel their currency (eg the issue a new banknote because the old one has been compromised by forgers). That mechanism could be used to recall legal tender bullion coins if the govt got really desperate.
you will leave you gold behind.. how can you pass the check point without being detected ? one way or another you have to hand over your gold.
If the aust government did end up confiscating gold and silver, hypothetically, if they sad tomorrow hand it over for the current market rate (or any rate above which it was purchased at) would you then be forced to pay capital gains tax on your profits if it was compulsory aquired?
I think if they tried it there would be a massive battle in the high court because then any asset I.e. shares, investment property could be compulsory aquired to create CGT events to screw investors out of their money. But does anyone know the current CGT laws regarding compulsory acquisition?
if they did confiscate they would change the CGT laws to suit their purpose first. I would. I think they'll tax it to the max instead. Since nobody owns it, people will go for that. Who needs gold anyways, that stuff is for rich people... blablabla
would anybody hand there real (not paper) gold over just because the government demands you to . Its yours they didn't buy it. if you didn't want to sell at the time why would you give it to them ?
^ I don't know what I'd do :/ Just like the gun buyback. You are classed as a criminal and will stripped of your freedom for decades after the fact.
why would you assume someone who was intending to illegally remove their property would chose a legal avenue of escape? you're totally entrapped by the system son.
Its a bit different to the sticks that go bang buy back . you cant throw lead at them with a lump of gold. Unless your Goldfinger .
