The Hill News

In 1933, private ownership of gold was outlawed by the U.S. government. As Yogi Berra would say, "Deja vu all over again." Americans who are privately acquiring gold, mostly in coins, might have a surprise coming.

Based upon history I will encourage you to digest this scenario: The federal government will purchase your coins, bullions, etc., possibly excluding jewelry under a certain dollar amount at the prevailing market price of gold. It will become a crime to own gold. You will sell your gold to the government in exchange for paper or electronic dollars. What then will happen to the price of gold after the deadline for private ownership has expired?

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