{"id":10966,"date":"2020-05-25T04:13:06","date_gmt":"2020-05-25T04:13:06","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=10966"},"modified":"2020-05-26T04:43:06","modified_gmt":"2020-05-26T04:43:06","slug":"news-commentary-1068-governments-could-ban-gold-ownership-again","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=10966","title":{"rendered":"News Commentary #1,068 – Governments Could Ban Gold Ownership – Again"},"content":{"rendered":"\n

The Gold Investor\u2019s Worst Nightmare.<\/strong><\/p>\n\n\n\n

Nearly 90 years ago, the US Government seized privately-held gold and forced people to accept paper money in its place.\u00a0 Many present day gold investors fear this could happen again — in spite of the fact that the US is in the business of selling gold and silver coins that investors typically hold in hopes that their values will appreciate with time.\u00a0 In a very thought-provoking article that recently appeared in Bitcoin dot com<\/em>, Kevin Helms points out that the possibility of government confiscation of gold happening again is not entirely out of the question.\u00a0 If this is of interest to you, and maybe scares you a little, you might want to take a look at the article by Helms.\u00a0 I\u2019ve reprinted it below.\u00a0<\/p>\n\n\n\n

Illegal to Own Gold? Hedge Fund Manager Warns Governments May Ban Gold Ownership<\/strong><\/p>

A well-known hedge fund manager has warned that governments may ban private gold ownership. He explained that central banks may attempt to demonetize gold, making it illegal for private individuals to own, as the authorities lose control of inflation amid the coronavirus-led economic crisis.<\/p>

Is Gold Safe? Governments May Make Owning Gold Illegal for Private Individuals<\/p>

Central banks might outlaw private gold ownership if they lose control of inflation amid the coronavirus crisis, London-based hedge fund manager Crispin Odey warned clients in a letter seen by Bloomberg on Wednesday. He was quoted by the news outlet as saying:<\/p>

It is no surprise that people are buying gold. But the authorities may attempt at some point to demonetise gold, making it illegal to own as a private individual.<\/em><\/strong><\/p>

U.K.-based hedge fund manager Crispin Odey has warned that governments may ban personal gold ownership for private individuals if they lose control of inflation.<\/p>

The hedge fund manager added that the governments \u201cwill only do this if they feel the need to create a stable unit of account for world trade.\u201d He has compared the current coronavirus crisis to the Great Depression of the 1930s, arguing that central banks would fail to contain inflation as the economy eventually recovers from the impact of global lockdowns.<\/p>

Odey, a high-profile hedge fund manager known for his apocalyptic predictions, has repeatedly criticized central banks\u2019 policies. He launched his company, Odey Asset Management, in 1991. Citing inflation forecasts of 5% to 15% within 15 months, he predicted that high inflation would hurt long-dated bonds and growth stocks, betting that gold will benefit as high inflation follows the coronavirus crisis. His flagship investment fund, the Odey European Inc., gained 21% in March but was down 9.5% in April, his letter to clients discloses. He increased his fund\u2019s gold position during April and holdings of June gold futures represented 39.9% of the fund\u2019s net asset value at the end of the month, up from 15.9% at the end of March.<\/p>

Possibility of Governments Seizing Gold During Crisis<\/p>

Many gold owners fear that their governments could seize their gold, pointing to the U.S. confiscating people\u2019s gold during the Great Depression in 1933. The government of then-president Franklin D. Roosevelt seized all gold bullion and coins via Executive Order 1602, forcing citizens to sell their gold at well below market rates. A new official rate for gold was subsequently set that was much higher as part of the Gold Reserve Act 1934. In his letter to clients, Odey warned:<\/p>

History is filled with examples where rulers have, in moments of crisis, resorted to debasing the coinage \u2026 I very much expect that the authorities will fight these prevailing trends for every inch of the way, but I also expect them to lose the fight.<\/em><\/strong><\/p><\/blockquote>\n\n\n

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The Gold Investor\u2019s Worst Nightmare. Nearly 90 years ago, the US Government seized privately-held gold and forced people to accept paper money in its place.\u00a0 Many present day gold investors fear this could happen again … News Commentary #1,068 – Governments Could Ban Gold Ownership – Again<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":9422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[4210,4070,4227,4222,4226,4223,4038,4224,4225],"class_list":["post-10966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information","tag-crypto-gold","tag-gold","tag-gold-and-btc","tag-gold-confiscation","tag-gold-investing","tag-gold-investment","tag-gold-vs-bitcoin","tag-gold-vs-silver","tag-hyips-gold","exalt-entry"],"yoast_head":"\nNews Commentary #1,068 - Governments Could Ban Gold Ownership - Again - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=10966\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News Commentary #1,068 - Governments Could Ban Gold Ownership - Again - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"The Gold Investor\u2019s Worst Nightmare. 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