@candidwolf throughout history, when governments felt their power slipping they often reached for the people’s wealth. And gold has been a prime target. In 1933, through executive order 1602, American citizens were required to turn in their #gold for devalued dollars, with severe prison penalties hanging over those who didn’t comply. But that’s the catch: enforcement was based on fear, not resources. Something that is a lot easier today. Tracking individuals would have been too costly. So it was the shilling effect that did that job. Banks and institutions had no choice but to comply, which was enough to break liquidity in the gold market and render private holdings practically useless.
Compare that to today: governments like Israel are considering restricting precious metal ownership under the banner of f’inancial crime prevention’. Typical Israel right? History repeats itself but this time the strongest money man ever created today is in what the state can’t touch, unlike gold.
@lynalden is right. This isn’t just about confiscation anymore. The bigger threat could be selective heavy taxation or hidden barriers that undermine financial #freedom. Bitcoin yet remains our hope.
Here is a graph about the topic. I had posted on Twitter before getting suspended. I updated yesterday. I hope you find it insightful.👇🏽
https://m.primal.net/LfqZ.png
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