its useful to look at older articles and see how their views panned out, he was honest enough to say there were many possible situations and to stay defensive.

"We still are not clear on what crisis is at hand, but I suspect there is one. The problem is that if it remains hidden then by the time you know about it, it will be too late for you to make any moves.....This is why I keep saying be in PROTECTIVE MODE. Stop chasing new yields, and new capital gains. Stay in protect mode."

I'm not sure of the confiscation risk though, although gold is a huge focus for gold investors, I would guess from a central bankers or even gov. perspective it is still viewed as a barbaous relic, and the value of gold v GDP or national debt is small so the heat they would get would be disproportinate , I would guess peoples pensions assets are more at risk from the gov. coming in to "protect" you pension fund