RE: Will The Looming Worldwide Financial Crisis Take Crypto Down With It?

[theycallmedan]

In places like the USA sure, what about the underbanked countries that have no access to gold? Even if they did their governments would confiscate it.

Comments

[direwolf]

Gold confiscation has happened in the USA as well.

The United States Gold Reserve Act of January 30, 1934 required that all gold and gold certificates held by the Federal Reserve be surrendered and vested in the sole title of the United States Department of the Treasury.[1][2]

The Gold Reserve Act outlawed most private possession of gold, forcing individuals to sell it to the Treasury, after which it was stored in United States Bullion Depository at Fort Knox and other locations