but long term bitcoin and silver. gold is in my opinion useless: after all they can confiscate it like Roosvelt did.
Government could do anything in theory but the history of that is not all gold was taken. Just your average person kept most gold as jewellery I think and this was allowed.
The richer types with actual bullion made sure to keep their gold outside the borders of USA.
The government could take property besides gold and some might point out various cases where they are already trying to do this. Some of the Bundy land case aspects are not unique where the government seeks to confiscate, it can be done purely on suspicion of law breaking.
On mass I think default is more likely then confiscation. The biggest thing now is that government backs most housing debt, they hold the deeds so I wonder if under pressure the modern equal to gold would be to use property or the mortgage terms gainfully.
Still I dont see that working, they didnt take jewellery in the 30's and its really outlandish to think the government would use all that housing debt against people to pay their bills. Default is most likely imo and printing
If all the gold from Fort Knox was to be used to back up the $$$ in circuation it should be somewhere in the region of $75,000 per ounce.
I dont see this happening either. Theres not enough gold in the world to back the amount of dollars now. People say this is why the price will rise (then theres enough) but they are handing out power to which ever countries hold gold (produce or generally export).
So this could only be done by those in power globally, Washington wont force these terms on themselves. They'd empty fort knox trying to back dollars, I think Nixon's administration foresaw that
They'll keep on with QE till it fails and then it'll be a default on the terms of the debt. A haircut they call it, the creditors lose out (a large section of which are USA federal welfare funds, pension, etc)
