I still think this is unlikely in Australia with our present conditions. The cash interest rate in Australia is 4.75% in Australia - if it approaches zero, then I would be worried. Rates bottomed at 3% in 2009, whereas the US it was literally 0% to 0.25%, and any federalisation/confiscation of gold is likely to happen there first. If the USA goes though, Australia may follow very quickly. While we've got interest rates higher than the US though, and until they've done it, I think we're safe. Western Australia would probably threaten secession over the issue which could be a determining factor here in any move, and the "super profits" tax on resources wasn't going to be on precious metals, and that would be a first step I think. The real question is, what (legitimate) steps can one take to preserve wealth in the face of confiscation? Unless you abscond the country with it up your duff on a flight to a country where it's still legal to own, you're now in the black market.
I'd be more worried if and when interest rates rise in the US. If they go up because no one wants the dollar after a collapse in value what are they going to want to buy stuff they need overseas. Still not a likely situation but if hyperinflation does hit there then maybe. Seems even less likely here. edit Should also add that gold was money when the US confiscation happened during the depression. The only reason that really want to confiscate your gold now is for overseas settlements when if your currency becomes worthless.
Well i dont fancy stuffin any PM up me clacker.....! " Next on Border Security,whats this man hiding?...what is the rectangular shape on the Xray machine?...Charlie the sniffer dog for some reason has singled him out,we find out after the break"
Imagine a 1000oz bar in the poop-shute... Might make things a bit uncomfortable to sit down on the flight to Rio...
"He must be a criminal for sure, and be arrested! He is trying to use his rectum silver as a competing currency to the US dollar."
"Person" is that legalese crap mentioned in the loss of property rights / sovereign man thread. So, you may not have to flee the country, just assert your god given rights as a human being. Unless the spooks go after you for domestic terrorism.
Fear mongering in the media is par for the course people. Rents through the roof anyone? http://www.smh.com.au/news/national/sydney-rents-to-soar-20/2007/01/08/1168104923393.html Vested interests control the media. Remember that.
Mate if GSR dips below 10, it is SILVER that will be confiscated NOT gold! There are more silver ounces than gold.
"confiscating gold" does that mean everyone's gold and anything made out of gold? 9ct gold jewellery? wedding rings? or just pure gold bars and coins?
