This past Tuesday, April 5, was the 89th anniversary of Executive Order 6102 when the U.S. government would strictly “forbid the hoarding of gold coin, gold bullion, and gold certificates within the continental United States.” While the global economy seems to be heading toward disaster and the U.S. dollar’s strength is being examined, many have questioned whether or not the U.S. government will confiscate gold again.
‘No Crisis Should Go to Waste’
Since the outbreak of the coronavirus, the global economy has seen a volatile two-year period. In September 2019, more than 18 central bank started to reduce benchmark rates in coordinated ways. This was months before the outbreak. Four months later, the World Health Organization declared the Covid-19 epidemic a pandemic. In March 2020, the World Bank joined 37 other central banks in monetary easing.
During that month in 2020, the coronavirus outbreak fueled the central banks’ negative rates and quantitative easing policies as it expanded the monetary supply like at no other time in history. The U.S. Federal Reserve was one of the leading central banks that expanded the monetary supply and handed out ‘helicopter money’ to American citizens in the form of stimulus checks. Inflation in America has been rampant since then and Americans who use the U.S. Dollar are experiencing a loss of purchasing power month after month.
The economy has been worsening since the Ukraine-Russia conflict began. Although the spread between 10-year Treasury yields (2-year) and 2-year Treasury yields (10-year Treasury yields (1-10 year) was inverted by trend forecaster Gerald Celente who said that recession odds will rise if there is war. The U.S. workforce has been affected by this. Bureaucrats even tried to force non-consenting adults into vaccinating, which caused significant disruptions. U.S. legislators targeted American businesses, and economists called for price control laws to be enforced by the government.
With all that has happened in the U.S. over the last two years, and all of president Biden’s executive orders, it is possible the government could confiscate gold again. Simply by asking this question via Google today, you can see that mgsrefining.com’s first article published a year ago. It states clearly that the government has the right to confiscate any gold. “Could gold confiscation happen again?” the article asks. According to mgsrefining.com, the author:
Yes, in short. Although no federal law specifically states that the government may call in gold for you, in extreme situations the government is able to take it either through an Executive Order of a law.
Satoshi Nakamoto’s Birthday
89 years ago, U.S. president Franklin D. Roosevelt signed an executive order on April 5, 1933, that banned American citizens from owning gold. The order started with a banking crisis, something the U.S. is never short on these days, and by March 1933, the government called it the Emergency Banking Act. Similar to the coronavirus pandemic, the main benefactors of the banking crisis were politicians and bankers. The financial depression was followed by World War II, and American bankers like JP Morgan’s ‘Money Trust’ made lots of money. It is well documented that Wall Street, Morgan, and his friends not only funded the allied forces, but also Stalin’s movement and the Nazi regime as well.
It is also well documented that American panic has led to the creation and expansion of societal corruption. Peter Schiff’s publication schiffgold.com asked the question “could it happen again” when it comes to the U.S. government confiscating gold a second time. The article published on April 6, 2022, explains while it’s possible the government could confiscate gold, schiffgold.com writers say it is unlikely. “Of course, it is theoretically possible for the government to confiscate gold,” schiffgold.com’s article notes. “It’s also theoretically possible for the government to confiscate cell phones. That doesn’t mean it will.”
Another interesting aspect about April 5, is that the date is tied to the creator of Bitcoin. Satoshi Nakamoto’s profile on p2pfoundation.ning.com features the date as the inventor’s birthday. In fact, Satoshi Nakamoto’s birthday is April 5, 1975, if we are to believe the birth date is legitimate. However, many assume that Satoshi chose April 5 in order to hint at the memory of when the U.S. government confiscated gold. Interestingly, U.S. president Gerald Ford repealed Executive Order 6102 on December 31, 1974, the day before 1975 started.
Individuals have asked the question many times over the years concerning whether or not the U.S. government can confiscate gold again. Every one of them seems to understand that it’s feasible via a crisis and executive orders that follow. There’s a chance Satoshi Nakamoto wanted to remind the world of this time in history, as it’s possible Bitcoin’s creator thought it could happen again.
How do you feel about the 89th anniversary when the U.S. government took gold from American citizens? Comment below and let us know how you feel about the subject.
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