Learn More About Gold Bullion Bars From The Experts At Gold-Bullion.org
November 19, 2009 – Gold bullion bars and gold bullion coins were illegal for US citizens to own for almost 40 years, and our government kept trillions of dollars worth of these items in storage in Fort Knox, Kentucky from 1933 to 1971. In 1971, President Richard Nixon nixed the prohibition of bullion ownership and removed the United States from the Gold Standard. The Gold Standard was a way of backing US currency with physical gold, which has been valued by humans for over 5000 years. When Nixon eliminated the Gold Standard from the US Treasury’s equation, it was a monumental occasion for our lawmakers and US investors.
While investors began supplementing their portfolio holdings with gold bullion bars and coins, our lawmakers immediately began brainstorming ways to spend more money. Since Nixon’s actions eliminated the legal need to back printed greenbacks with gold, our government’s ability to print and spend is almost limitless.
Since 1971, our government has repeatedly set and reached our national debt limit. Instead of paying down this debt, they have repeatedly furthered their fiscal irresponsibility by increasing the amount of debt that our nation can own. This has caused problems recently, because a handful of other nations have called for the United States to shore up or eliminate the US dollar. Historically, our government backed up the weak dollar by confiscating gold bullion, so it is highly likely that such a confiscation could occur again.
Certain gold coins were not seized by our government historically, and they have been deemed non-confiscatable by Executive order 6102, Section 2-B. US coins that hold recognized value as rare and unusual coins were not confiscated historically, so investors purchase these types of coins as a long-term wealth protection vehicle. If you would like to learn more about gold bullion bars, gold bullion coins, or non-confiscatable coins, call us or contact us online to request your free copy of our award-winning gold investment tutorial.
