As the saying goes, "antiques in prosperous times are gold in troubled times." Gold is a traditional safe-haven asset, but the cost of owning and storing gold is too high. In particular, preserving gold in troubled times is a high-risk job. Even the government will not hesitate to pull its face down and rob you of your gold. 21before the collapse of the national government in August, 948, private possession of gold and silver was prohibited, and gold certificates were forcibly exchanged for 1663000 gold within three months (Wikipedia entry: gold certificates).
After the founding of People's Republic of China (PRC), the Interim Measures for the Administration of Gold and Silver 195 1 banned gold trading. 1956 after the completion of the socialist transformation, private gold was basically acquired and confiscated by the government, and it was not until 1983 that private holders were allowed to trade gold.
Even democratically elected countries have a black history of compulsory gold collection. 1933 during the economic crisis, President Roosevelt proposed an emergency banking bill to stop gold exchange and export in the name of saving the financial crisis and preventing the loss of American gold to Europe, which was passed in the Senate and House of Representatives on March 9. On April 5, Roosevelt further forcibly confiscated public gold at the price of $20.67 per ounce in Executive Order 6 102, and those who hid gold would be sentenced to the maximum imprisonment of 10 year and a fine of10000.
Even the gold entrusted by the Swiss bank ueber see FINANZ-kor corporation to American companies was forcibly confiscated. 65438+ 19341October 30, the United States passed the gold reserve act, and the price of gold was re-set at $3,565,438 +0 ounces, but the American people had no right to exchange gold. As soon as Americans exchanged gold for dollars, nearly half of them were looted by Roosevelt's New Deal.
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