Curious what people's opinions are regarding the security of PHYS.
One of the stated benefits of PHYS is it is physical gold in Canada and therefore would not be confiscated the same way gold coins were in 1933.
However, if you have shares of PHYS with a brokerage account located in the US, what is there to stop the US government from confiscating shares in gold the same way as gold coin? It seems it would be easy to adjust the executive order from 1933 to include gold related shares in addition to bullion.
I'm not saying I believe this would happen, but this is one of the arguements on why PHYS is safer than the GLDs of the world, so I wanted to see what people's opinions are.
When enough Democrats are in the Government, they can just seize your home and cars, bank accounts, guns, cash AND gold, and if you resist, just call you a terrorist and shoot you in the head.
This is what Obama has had in mind all along -The New World Order Police State, where he and his buddies are like kings over the American sheep/slaves.
Most dimwitted Americans think that would be kewl, cos O is half black and not that old, like those Repugnicant guys.
>> When enough Democrats are in the Government, they can just seize your home and cars, bank accounts, guns, cash AND gold, and if you resist, just call you a terrorist and shoot you in the head.
All true, which makes them just like the Republicans.
>> Most dimwitted Americans think .....
that there is a difference between Republicans and Democrats.
Distinction without a difference. If a law comes into effect requiring people to turn over an asset or face a penalty, including prison, how is that not confiscation?
[kon-fuh-skeyt, kuhn-fis-keyt] Show IPA
verb,-cat·ed, -cat·ing, adjective
–verb (used with object)
to seize as forfeited to the public domain; appropriate, by way of penalty, for public use.
to seize by or as if by authority; appropriate summarily: The border guards confiscated our movie cameras.
EO 6102, according to Wiki,:
"Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of the order was punishable by fine up to $10,000 ($167,700 if adjusted for inflation as of 2010) or up to ten years in prison, or both. Most citizens who owned large amounts of gold had it transferred to countries such as Switzerland."
Sorry if I'm displaying some ignorance here, but what is the difference between an executive order to turn in your gold vs. confiscation?
If there is another executive order this time instructing brokers to turn over people's PHYS holdings (in exchange for xx dollars), aren't you still screwed?
shares are merely pieces of paper legally recognized as proof of ownership. even if your shares were taken, the trustee holding the gold would have to recognize that taking as depriving you of your title. in other words, it seems to me that Sprott themselves would have to be a part of the endeavor. additionally, the shares we hold are probably registered with Sprott in the street name of the broker we use -- something else to consider.