That’s how Mike Maloney begins his new video, a discussion with Jeff Berwick of Dollar Vigilante, on the possibility of gold confiscation.
While Mike says confiscation “probably won’t happen, you’re screwed if all you own is coins and bars.” In other words, the risk isn’t zero.
As many investors know, gold was illegal to own in the US for 50 years. Is there a way for an investor to hedge against such an event? Gold Bullion Jewelry might be a solution.
As Mike says, “gold bullion jewelry is meant to give mobility and safety, and is the least likely form of precious metals to be nationalized.” It’s ideal for travel, because, as Mike points out, “it doesn’t have to be declared on a landing card.”
Customs forms specifically ask about currency and cash equivalents—but jewelry is not classified as a financial instrument. As a result, he owns some gold jewelry as a tail risk.
- Source, Gold Silver
