For some reason, this historical event has been buzzing around in my brain for quite some time now. With Crypto, and more specifically Bitcoin becoming more and more likely to reach a market cap equal to, if not more than, gold. Furthermore, shortly after the gold war was confiscated by the government they raised the price from $20.67 per troy ounce (which they paid each person) to $35 per ounce. 1 troy ounce = 1.09714 ounces.
If you refused to turn in your gold, well: " 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. "
Currently, Under current federal law, gold bullion can be confiscated by the federal government in times of national crisis
The reasoning behind the confiscation of gold during the time of war was "due to rationale. The stated reason for the order was that hard times had caused "hoarding" of gold, stalling economic growth and worsened the depression as the US was the using the gold standard for its currency."
With BTC being the best performing, and most successful, what do you guys think about something like this? Physically, the government can find your gold if they chose to do home searches. Would the technology even be available to the government to track things like wallet balances, etc?
more info: Government Confiscation of Gold: Understanding the Facts
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