Back in 1933, at a time of economic crisis, President Roosevelt forced U.S. Citizens to sell their gold at $20 an ounce - and then subsequently revalued the metal to $35. Could President Obama, a Roosevelt disciple, have similar plans in mind.

http://www.mineweb.co.za/mineweb/vie...

the bogeyman of gold confiscation is raised from time to time. and what happens in one country could happen in others, as japan prohibited the ownership of gold during world war 2. but i doubt this would happen today, because not only would it be more trouble than it would be worth, it would accomplish next to nothing.

in 1933, america was on a gold standard, and roosevelt couldn't simply print as many dollars as he wished to build his public works projects. by buying up the nation's gold at $20 and then revaluing it at $35, he used the windfall to produce more currency to fund his federal budget.

today, as we have already seen, there are no constraints on money creation. a trillion here, a trillion there, what difference does it make? the market for gold is miniscule in comparison, and even if president obama confiscated every ounce in the country, it wouldn't amount to anything compared to his budget deficit.

also, there are ways around confiscation. coins that sell at substantial premiums to their intrinsic gold content (proof coins, numismatic rarities) will probably be exempt, just as they were in 1933. even a fascist government would not melt a one-ounce coin that is worth $5,000 to coin collectors.