Odey Says Governments May Make Private Gold Ownership Illegal

[SilverApe]

Article here through the waybackmachine https://web.archive.org/web/20200521182927/https://www.bloomberg.com/news/articles/2020-05-20/odey-says-governments-may-make-private-gold-ownership-illegal

What do you think?

[Guest]

If I’m reading that article correctly, and I think I am, he is a bit of a hypocrite for increasing the amount of gold his company holds in April and then come out with this...

how exactly would they enforce this, if it were true? This Odey person appears to me to like stirring things up; I could be wrong.

[SilverApe]

10 minutes ago, C60 said:

If I’m reading that article correctly, and I think I am, he is a bit of a hypocrite for increasing the amount of gold his company holds in April and then come out with this...

how exactly would they enforce this, if it were true? This Odey person appears to me to like stirring things up; I could be wrong.

That's correct, he holds a postion in Barrick and increased a physical gold allotment too, so I suppose the assumption might be a suspension of gold trading. I'm not quite sure what to make of this news either.

 

edit:grammar

[Zhorro]

We periodically see stories about the possibility of Governments confiscating gold. 

The problem with taking it away from individuals is that so few people own much gold these days, and so it would probably not be worthwhile. 

As to the high volume "gold" that is traded, much of this is just paper, so confiscating it would merely help alleviate the toilet roll shortage!

[DBCooper]

 Not very likely at all IMHO. But Before any Government can take any gold you may or may not ? first they are going to have to.

1 know you have it .

2 find it .

Buying gold does leave an audit-able trail  these day if you don't pay for your shiny stuff with cold hard cash in the first place and purchase online. But finding any Gold you have purchased and might still have ?  after its in your grubby hands is quite another thing to achieve !

 A wise purchaser that might have left a trail purchasing said shiny stuff. Will most probably be able to answer any questions put to them by a Government official asking where their gold went. That unfortunately they have rather expensive hobby's  often including high stakes gambling,  a heavy duty coke habit, or a liking for fine young ladies that work at night. and unfortunately they have spent any gold that they had in the past on said hobby's. Unfortunate boating accidents also tend to occur with frightening regularity in conversations about any Gold someone might have purchased in the past.  

Gold has got to be the most hard to trace highly portable asset know to man. That's the whole point of buying it in the first place IMHO 

If your Government ever does make it illegal to own and you are unable to sell it in your location. Break out the gas torch melt it down, shove it in your pockets or anywhere else suitable. Up sticks and move it to somewhere else and sell it if you need to !

Oh and one more thing  I personally have no knowledge of ever buying anything gold or silver ! 

Regards 

DB

 

 

[Metalisreal]

Methinks that the cost of trying to enforce a ban would exceed the worth of the gold itself.

[KevjustKev]

1 hour ago, Metalisreal said:

Methinks that the cost of trying to enforce a ban would exceed the worth of the gold itself.

Plus the gov will have to have people willing to go and get it in the first place.

[cravethatcoin]

I can't see this happening in this day and age. Although if it did they couldn't ban it forever so I suspect most would hold it until that day comes.