It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by silent thunder
Wonder what would happen in that scenario if you managed to evade the "gold cops" and then tried to sell your hunk o' metal two or three years later. Would there be a thriving black market in the stuff, or would people be leery about buying it because illegal posession would be considered too dangerous? Perhaps a mixture of both attitudes, as with the narcotics market.
The final act of confiscation will require the long rumored proverbial bank holiday. The financial authorities, under the Department of Homeland Security and Internal Revenue Service, would have the ability during such a holiday to conduct on site audits of safety deposit boxes for contraband, precious metals, and other financial materials of interest. This audit could be completed within a thirty to ninety day period, while re-opening the institutions but locking down all access to safety deposit boxes from customers and holding the bank management criminally liable if that policy is violated. As a bank’s audit is completed, the authorities would notify the owners of the event, probably begin an initial tax evasion case inquiry for intimidation purposes, and then determine fair value for all bullion or non-numismatic coinage that is seized. The process would be messy and by designed to browbeat the owner thus creating a level on mistrust beyond anything since the Wilsonian police state actions of World War I. Sadly, such an event would be coordinated with European authorities to insure that no American assets were hidden in their banks and to allow them a chance to seize assets for “inspection” or government confiscation to block capital flight from their nations.
A clue as to when this event will begin has been dropped by the world monetary authorities in the last seven days, yet few souls have noticed it. The G20 and Europeans have investigated the idea of boosting the IMF’s Special Depository Receipts (SDRs) to the point of a becoming a viable global currency to provide a stable alternative to the dollar reserve system currently in place. This action was discussed to provide an alternative to the European Central Bank problems and to stifle the currency war initiated by the U.S. Federal Reserve. Until action occurs to remove the dollar as the world reserve currency occurs, there is no reason to confiscate assets to provide a base of value for the United States to create a new monetary regime. The circus that will occur in other nations will be mirrored by our own and the door opened at that moment to seize assets, possibly including real estate, to insure a backing for our ability to service the debt and participate in a new currency regime within a global central bank.