The Next Economic Crash Is Going To Be A Horrific (APRIL 2017) -- MIKE MALONEY

Baby boomers lost to Vietnamese farmers, added 20 trillion dollars to deficits, burdened their children with over a hundred trillion dollars of unfunded liabilities in the future (social security, medicare/medicaid, welfare state, pension system). But you stupid millennials are the problem. Always looking for someone else to blame... never taking responsibility for destroying america... Oh yeah and thanks for the 90% to 60% white population in America and allowing illegal immigration since the 60s and 70s over 50 years... and doing nothing about it... The baby boomer generation will not be missed

Gold Confiscation History Myths and Reality -- Mike Maloney

The Biggest Gold Heists In History...So Far -- Mike Maloney








Transcript : gold confiscation history myths and real 0:03 solutions written by Jeff Clark read by 0:07 mike maloney one concern of retail 0:09 precious metals investors is the 0:11 possibility of a gold confiscation 0:12 imagine having the forethought to buy 0:15 gold to shield your finances from an 0:17 economic or monetary crisis only to have 0:20 it taken away from you by your 0:22 government 0:23 you'd lose not just the protective 0:25 buffer you put in place but potentially 0:27 a chunk of your net worth gold 0:29 confiscation may sound preposterous to 0:31 investors used to securities a real 0:33 estate but it's happened in the past 0:35 enough times to make it a reasonable 0:37 concern for those uneasy about 0:40 unsolvable debt levels runaway 0:42 government spending and continual 0:44 central bank currency creation when a 0:47 grab is made for people savings 0:49 governments don't bother to confiscate 0:51 instruments like stocks and bonds and 0:52 savings accounts those can be wiped out 0:55 simply by devaluing the currency but 0:58 when times are really tough governments 1:00 have requested citizens turn over their 1:02 gold the one asset they have 1:04 historically been unable to control 1:06 since it's not someone elses liability 1:09 what a gold confiscation happens there 1:12 unfortunately aren't a lot of viable 1:15 solutions if your government declares it 1:17 illegal to own a meaningful amount of 1:19 boolean you'd have little choice but to 1:21 comply 1:22 either that or play the role of a 1:24 fugitive with the prospects of financial 1:26 penalties forcible confiscation of your 1:29 metal and even jail time waiting for you 1:32 many investors believe that gold won't 1:34 be confiscated today because it's not 1:36 part of the monetary system like it was 1:38 during the u.s nationalization in 1933 1:41 under Roosevelt while it's true we're 1:44 not on a gold standard today if the 1:47 crisis gets bad enough any and all 1:49 viable solutions could be on the table 1:51 debt in all developed countries is 1:54 unpayable especially when you add in 1:56 unfunded liabilities 1:58 where could the government get funds to 2:00 service at all one source could 2:02 definitely be gold the sober reality is 2:05 while lower than in the past the risk of 2:08 a gold confiscation is not zero the 2:11 world today can be an uncertain place 2:13 and what were once local issues can 2:16 rapidly escalate and have global 2:18 consequences 2:19 this does not mean however that we are 2:21 suggesting a gold confiscation is 2:23 imminent or even probable simply that it 2:26 could happen if one or a series of 2:28 events having significant worldwide 2:30 implications occurs without official 2:32 gold backing on most major currencies 2:34 today the specific motivation to 2:37 confiscate gold that existed during many 2:39 previous confiscations barely exists 2:42 today but as you'll see even that hasn't 2:45 stopped modern government's without a 2:47 gold standard from doing the same 2:48 ostensibly as a form of currency 2:51 controls to slow down market-driven 2:53 devaluation the solutions to 2:57 confiscation risk there's a lot of 2:59 speculation floating around the web 3:01 about what one might do if gold was 3:04 confiscated again unfortunately the 3:06 majority of the most common solutions 3:08 don't hold up too much scrutiny some 3:11 investors assume silver would be exempt 3:14 that's usually because past 3:16 confiscations mainly focused on gold 3:19 however what many investors don't know 3:21 is that a year after the 1933 3:24 confiscation order president roosevelt 3:26 signed executive order 6814 that 3:30 required the delivery of all silver 3:32 bullion to the United States government 3:34 for mending into coins many dealers 3:38 claim numismatic or collector coins 3:40 would be excluded since there was an 3:42 exemption made for rare coin collectors 3:45 in 1933 but as history will show during 3:49 past confiscations the onus was on the 3:51 investor to prove that they were a coin 3:53 collector and not a bullion buyer unless 3:57 you own a substantial amount of rare 3:59 coins you are automatically deemed a 4:01 boolean owner not a collector the 4:04 uncomfortable truth is no one knows 4:06 exactly what form a confiscation could 4:08 take or how new laws 4:10 be enforced and that's part of the 4:13 problem as i said in my book guide to 4:15 investing in gold and silver 4:17 confiscations all come down to this the 4:20 government makes the rules changes the 4:22 rules and enforces the rules though it 4:24 lacks the moral right it can create the 4:27 legal authority though it lacks the 4:29 constitutional empowerment it can turn a 4:31 blind eye to the Constitution the 4:33 Constitution did not stop the government 4:35 from taking the people's gold in 1933 4:38 political leaders can and will do 4:41 whatever they deem necessary at the time 4:43 in any way they see fit for as long as 4:46 they think it's needed when a gold 4:49 investor considers the number of ways 4:51 the confiscation could take place how 4:53 long it could last how easily the 4:55 government could change the rules and 4:57 how deeply it could reach all against 4:59 the backdrop of an economic or monetary 5:02 crisis it underscored the need to put a 5:04 viable strategy in place 5:07 what's really viable is a lesson best 5:09 learned by the mistakes and successes of 5:12 the past gold confiscation a 5:15 surprisingly common solution since 5:18 nineteen thirty-three there have been a 5:20 few notable gold confiscations around 5:22 the world the specific circumstances 5:25 buried but there was a common thread to 5:27 all of them they all arose out of a 5:29 financial crisis as government coffers 5:32 dwindled and reached emergency levels 5:34 politicians didn't hesitate to grab the 5:37 net worth of private citizens and in 5:39 many cases it was portrayed as patriotic 5:42 your country has threatened help save 5:44 your nation 5:46 here are some gold confiscation that 5:47 have occurred in the past 80 years 5:49 United States gold confiscation 1933 5:55 labeled executive order 6102 president 6:00 franklin roosevelt signed a law on april 6:02 fifth 1933 quote forbidding the hoarding 6:06 of gold coin gold bullion and gold 6:09 certificates within the continental 6:11 United States unquote now i want to 6:14 point out that if you save your wealth 6:15 in real money gold and silver 6:18 the government considers that hoarding 6:20 but if you heard their currency they 6:23 call that savings government's always 6:25 want you to save in their currency so 6:28 that they can confiscate your wealth 6:29 from you through inflation the executive 6:32 order basically meant that private 6:34 owners were requested to take their 6:36 coins bars and gold certificates to a 6:39 bank and exchange them for US dollars at 6:42 the prevailing rate of twenty dollars 6:44 and sixty-seven cents per ounce 6:46 why did he do this the US was on a gold 6:49 standard at the time so hoarding gold IE 6:52 real money was seen as a threat to the 6:55 stability of the country's financial 6:56 system remember how bad things got the 6:59 Great Depression was already four years 7:01 old and wasn't showing any sign of 7:04 abating banks were shut unemployment 7:06 soared bread lines formed civil unrest 7:09 grew and the government couldn't make 7:11 its debt payments Roosevelt thought he 7:13 needed to remove Gold's constraint on 7:16 the federal reserve that prevented it 7:17 from increasing the currency supply 7:19 within nine months after making gold 7:22 illegal to own the president raise the 7:24 official price to $35 4-ounce the 7:28 dollars those x gold owners received an 7:30 exchange had just been devalued by forty 7:33 percent it's actually a misconception 7:35 that FDR confiscated gold in 1933 more 7:39 accurately he nationalized it citizens 7:42 were compensated for what they turned 7:43 over in a true confiscation your assets 7:46 are essentially seized with no 7:48 compensation in a severe national crisis 7:51 it's certainly possible the government 7:53 wouldn't be able to afford to pay 7:55 investors to full value of their boolean 7:57 and the US government is serious about 7:59 you not hoarding gold as wikipedia 8:02 reports under the trading with the enemy 8:04 Act of 1917 as later amended by the 8:08 emergency Banking Act of march nine 1933 8:11 violation of the order was punishable by 8:14 fine up to ten thousand dollars and up 8:17 to 10 years in prison or both 8:20 numerous individuals and companies were 8:22 prosecuted worse the ban on the private 8:25 ownership of gold in America the home of 8:28 the free lasted over four decades 8:31 not until january first 1975 could u.s. 8:34 citizens on more than one hundred 8:36 dollars in gold again Australia gold 8:40 confiscation 1959 the Australian 8:44 Government similarly nationalized gold 8:46 the law part of the banking act in 1959 8:50 allowed gold Caesars of private citizens 8:53 if the government determined it was 8:55 expedient to do so for the protection of 8:58 the currency or the public credit of the 9:00 Commonwealth in other words they made it 9:03 legal to see is gold from private 9:04 citizens in exchange for paper currency 9:07 the country's treasurer stated in a 9:09 press release that followed all gold 9:12 other than rock gold and coins to a 9:14 limited extent had to be delivered to 9:16 the reserve bank of australia within one 9:18 month of its coming into a person's 9:20 possession 9:21 the law also said you weren't allowed to 9:23 sell gold except to the reserve bank of 9:26 australia their central bank 9:28 nor could you export any gold send it 9:31 outside the country without the bank's 9:33 permission 9:34 well it is unclear whether or not the 9:36 country moved ahead with active seizures 9:38 or just how many citizens complied the 9:42 law still destroyed the local private 9:44 gold market overnight like the usband 9:47 this rule wasn't short-lived either 9:49 reports indicate that the state on the 9:51 books until nineteen seventy-six a full 9:54 17 years before being suspended 9:57 great britain's gold band 1966 ever 10:02 since great britain went off the gold 10:04 standard in 1931 their currency had been 10:07 falling as the decline stretch from 10:09 years in two decades many investors 10:11 began to store gold overseas worried 10:14 their country might never recover 10:16 who could blame them their standard of 10:18 living with threatened 10:19 to stem the decline in the pound 10:21 sterling in 1966 the government banned 10:24 private citizens from owning more than 10:26 four precious metal coins it also 10:29 blocked imports of gold coins a common 10:31 move to keep currency from being 10:33 exported similar to modern-day tariffs 10:36 on gold imports in places like India the 10:38 only exemption to owning more than four 10:40 coins with to prove you are a collector 10:43 you are required to apply for a license 10:45 and then an officer from the bank of 10:47 england would determine if you were a 10:49 true collector or not if not we'll take 10:52 your boolean thank you very much 10:54 the important distinction about this 10:56 gold man is that it occurred when great 10:59 britain was not on a gold standard in 11:01 other words we have historical 11:03 precedence that gold was confiscated 11:05 without it being part of the monetary 11:07 system gold is not part of the monetary 11:10 system today either 11:12 like most confiscations this law lasted 11:15 a long time until nineteen seventy-nine 11:18 a full 13 years see any patterns here 11:21 these three gold confiscations have some 11:25 things in common they all won were 11:28 imposed by Western governments these 11:30 were advanced societies among the 11:31 richest countries on the planet and yet 11:34 they all confiscated gold to a rose out 11:38 of economic crisis each government had 11:40 abused its financial system so badly 11:42 that eventually nationalized 11:45 privately-held gold from citizens three 11:47 lasted for a long time of these 11:50 confiscations from advanced economies 11:52 the shortest was 13 years and four 11:56 completely forbid any type of hoarding 11:58 of volume only true collectors were 12:01 exempt and only those pieces that were 12:03 truly classified as rare and you had to 12:07 prove it 12:08 interestingly gold jewelry was not part 12:10 of any of these confiscations 12:12 unfortunately there are some nastier 12:15 gold confiscation from history these 12:17 involved the Brutes the bullies and the 12:20 dictators it won't surprise you that in 12:23 nations ruled by an oppressive regime 12:25 gold with a natural target to grab for 12:28 funds for the government 12:30 Italy's gold donation benito mussolini 12:35 Italy's Prime Minister turns dictator 12:38 tried to fight a nasty recession by 12:40 introducing the gold for the fatherland 12:42 initiative in 1935 he encouraged the 12:47 public to voluntarily donate their gold 12:50 rings necklaces and other forms of gold 12:52 to the government in exchange citizens 12:56 receive a steel wristband that board the 12:59 proud words translated gold for the 13:01 fatherland it said that even his wife 13:04 Rachel donated her own wedding ring in a 13:06 show of solidarity the gold was melted 13:09 down and made into bars then distributed 13:11 to the country's banks the government 13:14 netted 35 tons 1.23 million ounces from 13:19 citizen donations Germany confiscation 13:23 of check gold Hitler's Nazi Party pulled 13:27 a tricky scheme in 1939 after the 13:30 invasion of czechoslovakia the year 13:31 before the Bank of International 13:33 Settlements chaired by the bank of 13:35 england director auto niemeyer a German 13:38 no less instructed the bank of england 13:40 to transfer 5.6 million pounds sterling 13:43 of gold from the Czech national bank to 13:46 the German rice bank 13:48 even though the gold belong to the 13:50 checklist of akhiyan government and even 13:53 though English authorities had been 13:54 warned of the possible transfer it went 13:57 through without a hitch to mask the 13:59 theft Germany central bank understated 14:02 it's official reserves later that year 14:05 Saddam and Fidel the madman of Iraq and 14:09 the Communist oppressor of Cuba both 14:11 confiscated gold art and jewelry these 14:15 brutal dictators took whatever they 14:16 wanted at the point of a sword or a gun 14:19 as you might surmise citizens were not 14:22 compensated when their holdings received 14:24 unless you count remaining alive as 14:27 compensation Russia based on interviews 14:30 are conducted with two large gold 14:32 bullion dealers in Russia the old Soviet 14:35 Union had historically viewed gold and 14:38 silver as a matter of national security 14:41 therefore private ownership of gold in 14:43 any form except jewelry and numismatic 14:46 coins was strictly forbidden people went 14:49 to jail for owning gold bars and in 14:51 spite of the russian central bank being 14:53 one of the biggest buyers of gold since 14:55 2008 those old laws are still on the 14:58 books it's illegal to buy or sell 15:01 bullion bars except at a bank that has a 15:03 precious metals license and very few 15:06 have them it's a criminal offence to buy 15:08 or sell a gold bar from a friend or 15:10 relative transporting bars has strict 15:14 rules and can send you to prison if you 15:16 break them 15:17 it is illegal to take bullion bars out 15:19 of the country and buying and selling 15:20 foreign-made bars is also illegal these 15:25 laws are not strictly enforced today but 15:27 they remain on the books and thus could 15:29 easily be activated again 15:32 the difference in gold confiscation 15:34 between the plunderers versus those from 15:36 advanced economies is that the 15:38 plunderers were more oppressive about 15:40 the confiscation typically took more 15:43 than just gold and of course were more 15:45 brutal in carrying it out there's 15:48 another crucial distinction except 15:50 during times of active persecution there 15:53 is no historical precedence for gold 15:55 jewelry being confiscated if a nation 15:58 operated under the rule of law seizing 16:00 jewelry wasn't part of the government's 16:02 strategy 16:04 the reality is that in a crisis we could 16:06 potentially face a lethal combination a 16:09 desperate government with your assets 16:11 ready for the taking the point of all 16:13 this isn't predict there will be a gold 16:15 confiscation the idea is be aware of the 16:19 risks and have a viable plan in place to 16:21 combat one if it occurs but is there 16:24 really such a strategy on the surface it 16:27 would seem that short of renouncing your 16:29 citizenship and moving out of the 16:30 country there are precious few options 16:32 to protect against such a draconian act 16:35 that there are a couple of strategies 16:37 that have been historically effective in 16:39 combating gold confiscation proven 16:43 solutions out of jurisdiction starting 16:47 gold and silver where government is less 16:48 likely to be able to reach it quickly 16:50 and easily is a smart buffer to put in 16:52 place first as many of noted before 16:55 keeping it outside the banking system is 16:58 a good step many references site how 17:00 banks have been known to hypothecated 17:02 gold-ie lend it out to someone other 17:05 than its rightful owner 17:06 putting it at systemic risk just as 17:09 importantly during the modern balans 17:11 we've seen in debts tricking countries 17:13 thanks for often working hand-in-hand 17:15 with governments to seize assets long 17:18 before citizens found out what was 17:19 happening the threat of being cut off 17:22 from central bank liquidity is an 17:23 existential threat to banks and thus 17:26 they are not known for going to bat for 17:28 consumers in court to block over each 17:30 like an independent vault provider 17:32 hopefully would another step further 17:34 removed is storing overseas also 17:38 involved outside the banking system it 17:40 puts your assets one step further out of 17:42 reach less low-hanging fruit 17:45 as they would say without the ability to 17:47 take quick possession you have more time 17:50 and distance to fight such an order but 17:52 even this is not bulletproof a desperate 17:55 government could just as well declare 17:56 all personal gold holdings be 17:58 repatriated regardless of where they are 18:01 stored it be a spin-off of the old tax 18:04 joke how much gold do you on okay give 18:07 it to us if the company holding your 18:10 metal is a domestic entity they might be 18:12 forced to comply anyway at least in 18:15 reporting your holdings so they can be 18:17 taxed in lieu of surrender 18:19 some suggest you should instead do 18:21 business with a foreign company but that 18:23 adds a different risk and one that comes 18:25 with a dubious level of added protection 18:27 first you give up access to the local 18:30 rule of law if a vault in singapore 18:33 swears your gold is there what will you 18:35 do if it ends up not being the case when 18:38 dealing with a domestic company at least 18:40 you can turn to the court system second 18:43 a foreign company can be compelled to 18:45 cooperate with a big enough foreign 18:46 government like the US as investors 18:49 using private banking services in 18:51 Switzerland discovered in recent years 18:53 the threat of being cut off from banking 18:56 with the US will quickly convince a 18:58 company or its host government to comply 19:01 with the confiscation order at least by 19:03 reporting holdings even if it does not 19:05 relent to the pressure from abroad the 19:08 foreign entity would almost certainly 19:09 refuse to deliver buy or sell precious 19:13 metals in a jurisdiction where 19:14 authorities have issued a confiscation 19:16 order leaving you only with the option 19:19 to relocate elsewhere hardly better and 19:22 often much worse than using a domestic 19:24 provider you have real recourse against 19:27 bottom line while not risk-free private 19:30 for involved holdings whose 19:32 affordability surprises many precious 19:34 metals investors stewarded by a company 19:36 based in the nation with a historically 19:38 strong rule of law can be one of your 19:41 best lines of defense if confiscation is 19:43 a concern 19:44 the Elizabeth Taylor solution you 19:49 probably know that the queen of the 19:50 silver screen loved jewelry her 19:53 collection fetched over 150 six million 19:56 dollars after her death she even wrote a 19:59 book about her jewelry 20:01 indeed it's hard to find a picture of 20:03 her without gold diamonds or pearls 20:05 draped over her neck wrists 20:08 you may also know that Elizabeth Taylor 20:10 traveled a lot at various points in her 20:13 life she had homes in Beverly Hills 20:15 London and Switzerland among other 20:17 places she even traveled to around a few 20:20 years before the Iran hostage crisis and 20:23 here's an interesting fact about her 20:25 travels 20:26 she always took some jewelry with her 20:28 and walked right through customs with it 20:30 no messing with customs forms and no 20:32 requirement to declare a financial asset 20:34 this circumstance remains true today 20:37 you likely know that when crossing 20:39 borders travelers are often required to 20:42 complete customs paperwork and declare 20:44 large amount of currency and any other 20:46 financial instruments they are carrying 20:48 anything over ten thousand dollars to or 20:51 from the US for example the new rules 20:55 specifically mentioned gold and also 20:57 that the price of the gold determines if 20:59 you were at the reporting limit 21:00 not the face value on a coin that means 21:04 that seven ounces of gold would be the 21:05 maximum you can carry at 1,300 dollar 21:08 gold you'd be at risk with five coins 21:12 when goals reaches $2,000 since gold 21:15 jewelry is not considered a financial 21:17 asset under US law reporting it is not 21:20 required nor have we discovered any 21:22 country where it is handled differently 21:24 they'll always be sure to check the laws 21:27 along your itinerary you and your loved 21:29 ones can employ your own Elizabeth 21:31 Taylor solution consider the advantages 21:33 you possess if you wanted to transport 21:35 some gold outside the country it would 21:38 be a lot easier to hop on a plane 21:40 wearing a few necklaces or bracelets 21:41 been carrying a stack of gold coins or 21:44 bars consider the hassle you could avoid 21:47 passing through customs as well as a 21:49 threat of your gold bullion coins being 21:51 questioned or seized 21:53 but what about confiscation as history 21:56 has shown in the developed world gold 21:59 confiscations have targeted monetary 22:01 metals like coins and bars jewelry was 22:04 spared only in oppressive nations ruled 22:07 by dictators was a target in other words 22:10 the resident of a developed nation that 22:13 owns gold jewelry has an asset that is 22:15 far off the radar of appealing assets to 22:18 grab which is why we believe that 22:20 investment grade bully and jewelry is 22:22 one of the most unique and important 22:24 asset classes to own if confiscation is 22:27 a concern gold without borders gold 22:31 Silver's investment-grade boolean 22:33 jewelry 22:34 the problem with most gold jewelry sold 22:37 in the West is dilution it's often made 22:40 with cheaper hours that contain only a 22:42 fraction of gold and is very expensive 22:44 relative to the actual precious metals 22:47 content markups are easily two and three 22:50 times the gold value and it's not hard 22:53 to find it four or even five times 22:55 higher that takes school of jewelry far 22:58 from its roots when it was a form of 23:00 wearable wealth meant to keep assets 23:02 close at hand 23:04 traditionally in Europe and Asia gold 23:06 jewelry was a more portable alternative 23:08 to art heirloom furniture and land as an 23:11 outside of the bank assets that held its 23:14 value and was easily passed between 23:16 generations today in india china 23:19 thailand and elsewhere the tradition 23:21 remains the thai currency the bots for 23:24 example is even named after a common 23:27 jewelry style that predates it and 23:29 that's exactly what we've recreated with 23:31 our exclusive gold without borders 23:33 jewelry line these investment-grade 22 23:36 and 24 karat pieces that's 91.3 percent 23:40 gold the same as an american eagle coin 23:43 and 99.999 percent pure gold 23:46 respectively are an affordable 23:48 alternative to the mostly costume 23:50 jewelry you find in today's stores 23:52 classic designs that provide much more 23:55 bullion for your money and of course 23:57 they're beautiful 23:59 boolean jewelry is a real asset that is 24:01 both portable and practical 24:03 you can wear it transport it and a 24:05 confiscation order is likely to bypass 24:08 it discreet wearable wealth check out 24:11 the numerous pieces gold silver offers 24:13 in their new gold without borders line 24:16 of investment-grade jewelry it may just 24:18 offered the solution you've been looking 24:20 for