Gold confiscated

[GoldenPhil]

More on gold confiscation. I am looking to hallmarked products like jewelry and forum bars more and more.

https://news.bitcoin.com/illegal-own-gold-governments-ban/

 

 

[RoughDog]

 

🤪😁 Pimp that pamp

[Prophecy]

I wouldn't be surprised if the government, who is passively promoting private ownership of gold through sanctioning legal tender pure bullion coin and no CGT/VAT to have national gold reserves by proxy. Then change the law in an emergency and repatriate all hoarded gold it can, at least the stuff that has a paper trail in exchange for some form of fiat based contracts. 

Does anyone know any estimates on UK private gold bullion ownership in tons?

[GoldenPhil]

3 hours ago, Prophecy said:

I wouldn't be surprised if the government, who is passively promoting private ownership of gold through sanctioning legal tender pure bullion coin and no CGT/VAT to have national gold reserves by proxy. Then change the law in an emergency and repatriate all hoarded gold it can, at least the stuff that has a paper trail in exchange for some form of fiat based contracts. 

Does anyone know any estimates on UK private gold bullion ownership in tons?

China have really been encouraging their population to buy PM over the last decade so a very good chance of gold being "exchanged" with government at some point. 

[MancunianStacker]

[GoldenPhil]

Will there be any pensions left with much value in a world where government's are seizing gold? 

[MancunianStacker]

2 hours ago, GoldenPhil said:

Will there be any pensions left with much value in a world where government's are seizing gold? 

Good point, After the bail outs the bail ins begin. Why chase gold house to house when they know where all your digits are and can seize them much easier. Pensions, investments and savings can be taken much easier I’d imagine. 

[OriginalS]

Everyone has pensions, investments and savings, any government that even suggested that in a free country wouldn't be in power for very long.

 

We might complain a lot in the UK about how s****** we've got it but live in one of the most economically free countries in the world, it would be political suicide for any party to suggest seizing pensions

[MancunianStacker]

9 hours ago, OriginalS said:

Everyone has pensions, investments and savings, any government that even suggested that in a free country wouldn't be in power for very long.

 

We might complain a lot in the UK about how s****** we've got it but live in one of the most economically free countries in the world, it would be political suicide for any party to suggest seizing pensions

Any party who does this wouldn’t be popular I agree! However, Hungary seized all private pensions a few Christmases ago. I can’t remember the year, Greece/Cyprus did it Post financial crisis too and these are EU countries. Not far from the UK and the EU allowed it. The leaders will get a “bonus” for doing so, they’ll be fine in power or not. 

It’s not impossible for it to happen. So long as the FSCS compensation scheme in the UK guarantees £80k or so in fiat £ the UK Govt could print a cash equivalent value, increase minimum pension age and let you wait until you’re 90 before allowing you to get your worthless benefits. They are already increasing minimum pension age it from 55 to 57. They can change the rules on pensions at any time. Who knows what it will be in 10 years time. £80k, post printing, may be worth 1p in the current £, so a massive wealth grab is possible. If your pension is more than £80k in one instruction then you may have already lost the rest??? 

A Govt doing this wouldn’t have to be in power for long either.  They could do it all within a year, even months. They may never get back in again but where crashing the economy is concerned we’ve already seen they are willing to do it and risk not being re-elected again with the opposition during Covid-19 agreed on their stance. In Hindsight (5-10 years from today), lockdown could be the worst political decision ever. 

Any cash deposited in a UK bank is already signed off to the Bank. It is no longer is yours. If you can get it out or transferred out, well done. 

Desperate times call for desperate measures etc. If every country did this “wealth grab” at a similar time, the people would just be washed along like a Tsunami. They’d have no choice.

Even property, which I love, is on the books and already (post Covid-19) rent deferment has been Govt mandated and evictions prevented. That asset is now locked 🔒 If you have a good tenant who still pays you’re lucky. You can’t sell it at present either. 

Gold is an off the books and hidden dynastic wealth solution. It can’t be means tested either. There would always be a black market demand for it too. When this sh1tshow starts you can keep you stack close and “disappear it”.

On pandemics, this has shown the Govts around the world how people will react in the future should another pandemic arise. Just imagine one that’s really bad.

[GoldenPhil]

Some wise words @MancunianStacker

[MancunianStacker]

4 minutes ago, GoldenPhil said:

Some wise words @MancunianStacker

The jewelry idea is good my friend, on the right track.

Thailand does bullion price jewelry very close to spot price at 23k purity. Can be worn but not advised long term. They know!!!! 😉 

Worth a trip next year maybe once this Covid 💩 is over???? 
 

Their China town in Bangkok has two very good long standing stores. Hard to beat their prices. 

[Prophecy]

@MancunianStacker What you say is interesting. The UK financial and political system is held in MUCH higher regard internationally than Cyprus, Greece (συγνώμη!) or Hungary (sajnálom!) so any acts that cause that standing to diminish would be avoided.

However, should this situation actually need to happen then that standing would have already been diminished somewhat

OR

they might action such things to maintain said standing if done by proxy or other plausibly deniable stealth tax.

I'm getting caught in knots here.

[GoldenPhil]

I kind of thought pensions are a scam. They always seem to disappear when companies are in trouble 

[Prophecy]

10 minutes ago, GoldenPhil said:

I kind of thought pensions are a scam. They always seem to disappear when companies are in trouble 

Less of a scam, more of a giant amount of money lying in the middle of the road waiting for company bosses to peck at it or government to run it over.

[OriginalS]

I've stopped contributions to my pension while on furlough, what's the point in investing in an over priced stock market that's going to crash in a few months anyway, it's quite funny been on furlough I'm actually making more money than I would be working so I don't really care about paying £20 more income tax for the month

[Prophecy]

6 minutes ago, OriginalS said:

I've stopped contributions to my pension while on furlough, what's the point in investing in an over priced stock market that's going to crash in a few months anyway, it's quite funny been on furlough I'm actually making more money than I would be working so I don't really care about paying £20 more income tax for the month

I suggest you look into setting up another pension that is based on gold... just like any other pension, your contributions will have the tax refunded to them.

[silenceissilver]

12 hours ago, OriginalS said:

Everyone has pensions, investments and savings, any government that even suggested that in a free country wouldn't be in power for very long.

 

We might complain a lot in the UK about how s****** we've got it but live in one of the most economically free countries in the world, it would be political suicide for any party to suggest seizing pensions

You must be kidding. The UK is a socialist country, even before the lockdown and now it's even much worse. Economically free? You can't even open your physical business without the police arresting you. It could hardly be further away from free. Yes, it's not just the UK but to put the empahsis on the relative freedom compared to other countries is a joke when you compare it to different times, let's say the early US.

[Prophecy]

1 minute ago, silenceissilver said:

You must be kidding. The UK is a socialist country, even before the lockdown and now it's even much worse. Economically free? You can't even open your physical business without the police arresting you. It could hardly be further away from free. Yes, it's not just the UK but to put the empahsis on the relative freedom compared to other countries is a joke when you compare it to different times, let's say the early US.

I think both of you are being a little extreme on both ends of the spectrum

[onlyroadtoheaven]

53 minutes ago, OriginalS said:

I've stopped contributions to my pension while on furlough, what's the point in investing in an over priced stock market that's going to crash in a few months anyway, it's quite funny been on furlough I'm actually making more money than I would be working so I don't really care about paying £20 more income tax for the month

Just change the funds that it is invested in assuming that you are not in a local authority one. Quite a lot of mine is in Blackrock gold and general. Pensions should be actively managed from an early age of you have any knowledge on investing .... IMO. 

[silenceissilver]

10 minutes ago, Prophecy said:

I think both of you are being a little extreme on both ends of the spectrum

No, not really. We have a central bank and progressive income tax - both demands in the Communist Manifesto.

We have a taxation ratio that is officially over 40%. Even in communist Poland it was only about 70% if I remember the figure correctly, even in Moaist China it was only 80% because they couldn't stop the free market completely. Plus we have so many regulations that new businesses are suffocated before they even start, half of the work is done just to satisfy the bureaucracy. We have huge entry burdens in several sectors (e.g. banks, insurances and many others) that we don't have competition in these sectors, at all. Plus, we have a socialistic mindset of the masses. "The government must make sure, I'm well off".

And this was the case before the current dictatorship. Now, it's even the police on your neck, simply for opening your business.

[Prophecy]

4 minutes ago, silenceissilver said:

No, not really. We have a central bank and progressive income tax - both demands in the Communist Manifesto.

We have a taxation ratio that is officially over 40%. Even in communist Poland it was only about 70% if I remember the figure correctly, even in Moaist China it was only 80% because they couldn't stop the free market completely. Plus we have so many regulations that new businesses are suffocated before they even start, half of the work is done just to satisfy the bureaucracy. We have huge entry burdens in several sectors (e.g. banks, insurances and many others) that we don't have competition in these sectors, at all. Plus, we have a socialistic mindset of the masses. "The government must make sure, I'm well off".

And this was the case before the current dictatorship. Now, it's even the police on your neck, simply for opening your business.

Where are you?

[OriginalS]

5 minutes ago, Prophecy said:

Where are you?

Not in the UK by the sounds of it, or maybe some dystopian future UK, we have an attitude their that everyone thinks we're hard done for when we  aren't compared to the rest of the world, we really need to wake up and smell the coffee

[Prophecy]

The bottom line is, you are manipulatable/manipulated if you reactively think about things in a black and white idealistic way. By your family, peers, bosses, government, media, advertising etc. Know this, then you are on your first steps to being independent minded. But it takes constant vigilance, acceptance, calmness and calibration.

[GoldenPhil]

27 minutes ago, Prophecy said:

The bottom line is, you are manipulatable/manipulated if you reactively think about things in a black and white idealistic way. By your family, peers, bosses, government, media, advertising etc. Know this, then you are on your first steps to being independent minded. But it takes constant vigilance, acceptance, calmness and calibration.

I have to respectfully disagree with this. When people stop thinking in black and white it creates grey where great atrocities can take place like under far right nazism for example 

[Prophecy]

4 minutes ago, GoldenPhil said:

I have to respectfully disagree with this. When people stop thinking in black and white it creates grey where great atrocities can take place like under far right nazism for example 

I have to respectfully disagree with your respectful disagreement. Nazism was the epitome of black and white thinking. And how WW2 has been presented to us after the fact has been watered down to naive black and white (good vs bad) narrative.