Odey says governments may make private gold ownership illegal

Bloomberg/Jack Farchy and Nishant Kumar/5-20-2020

photo showing stacks of Dutch 10 guilder historic gold coins“Fear of government confiscation is a common theme among some of gold’s most ardent supporters, who point for precedent to the U.S. government’s forced purchases of private bullion holdings in 1933 as part of a devaluation of the dollar.”

USAGOLD note:  We have always viewed restrictions on gold ownership as a possibility rather than a probability. This article – including comments from Crispin Odey, the well-known British hedge fund manager – does a good job of laying out the reasons why governments might make gold ownership illegal under current circumstances. Needless to say, we thought Odey’s views would be of great interest to our many clients who are concerned about this risk and have already taken steps to hedge against it. If, on the other hand, this is all new to you and you would like to learn more about uncomplicated, productive hedging strategies in this regard, we invite your call – 1-800-869-5115 x 100.

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