Will the OZ govt confiscate private Gold?

The Basel Committee is suggesting that Gold, amongst other assets such as cash, should be a Tier one asset. So no, the banking system could survive without a single ounce of gold as far as I can tell as far as the Legislation would be concerned.

It would be a different monster if Gold was the ONLY Tier One asset (A smart monster at that!).

 

Could come under the section of "Defacing Currency" or government property or whatever the hell they call it for the coin, as for casting it, maybe I should start a company producing 1/2/3 Oz Bracelet moulds en-mass

 

That is so true, it happened a lot of countries, including America and China.

 

It no doubt would be defacing currency.

Question is, with 99.99% purity, how can it be proven unless someone is caught in the act?

Or would it be another case of "if you can't prove where you got that from, it's considered illegal"

Edit: on second reading I see the distinction between defacing and recasting was made.

 

Jim Sinclairs perspective on the confication fear all about - posted most reciently.

http://www.jsmineset.com/2012/10/30/gold-confiscation-rumor-control/

 

I can see the day when a lot boats all go down at once.................................. :lol:

 

LOL...too funny there....I dare Juliar or Swann Song to get their grasping paws on my pm's...they wouldn't stand a chance.

 

Ewwww...where'd you get that ugly photo ? Nearly brought up my dinner.

 

In case you haven't noticed, the Grubmint are not above using door kicking minions in black tactical gear to do their biding.

Good Luck... if it came to that.

 

I suggest that small groups of us go on fishing trips to Christmas Island, my boat is kind of small and a bit worse for wear, just be aware that if it sinks off the northwest coast, the water there is too deep to recover our P.M.s if it sank. A fishing trip would be a great opportunity for a Silver Stackers swap meet, so do not forget to bring your stash. As patriots we would not wish to burden the system with insurance claims, we would stoically accept our loss was for " The Greater Good ".

 

Gold confiscation never happened. So many people still don't get the concept.

[youtube]http://www.youtube.com/watch?v=52BR6YIdPHI[/youtube]



Also the governemnt is never going to come to your home looking for gold. You have to understand that isn't possible. Not to say they can't steal your wealth but they won't take physical.