Everybody seems to be getting in on the gold bullion and silver bullion investment business today. All forms of both precious metals are being scooped up and stored away for safe keeping. Some interesting questions arise though from this current boom in gold bullion and silver bullion. Apparently the government says that they have the right to take away the right to own all gold and silver.
Can The Government Really Seize My Gold Bullion Or Silver Bullion?
The answer amazingly is, YES! The Office of Foreign Assets Control says that in fact they do have the legal right to take away your gold bullion and silver bullion in any form. You should not get too worried about this though. There are strict rules and guidelines the government must abide by to take away you precious metals. These guidelines only allow seizure of your gold and silver bullion in extreme instances of national insecurity. Bonds, stocks and other forms of money can also be taken away under these guidelines.
Under What Circumstances Can They Seize My Assets?
The organization stated above that they have the right to seize such property in times of war, national emergencies and other crisis. They make it abundantly clear that they would use that option as a last resort. Think back to times when the nation truly was in crisis, like world war 2. The government needed serious help financing and finding material so they placed restrictions on what Americans could do. Fortunately we probably won't see a crisis like this and if we do the government will not take all you assets and leave you with nothing. It is good to know however that there still are issues like this that exist. The law was enacted in 1917 and was to deter person from unlawfully supporting enemies with our capital.