Q&A With The Doc: If Ron Paul is Not Elected, Will We See PM Confiscation?

Mark writes: Hi Doc, I'm new to your site and VERY impressed with your content, but sad your financial support seems low. Perhaps I can help some later. I am a pm investor who has been reluctantly contemplating the PROBABILITY of confiscation. Like for firearms, I can't help but believe the door-to-door searches will begin, some day. We have MANY new prison camps gearing up, and history shows how the Jews were robbed of anything of value as they were incarcerated. I realize I am repeating the programming of scare tactics, which is why I don't want to bring this up in open forums. But I am pretty worried about history repeating itself. I support Ron Paul, and hope he is actually able to do something IF he is allowed to win the election. I realize that those who do not convert fiat will lose value, without question. Is there any other encouragement for hope left (in addition to Faith), besides Dr Paul? I believe your readers would like to hear any you could offer. Mark, We share your concerns for our ounce great nation, and also fear the consequences of another term by a Republocrat president.  It remains to be seen whether enough sheople can be awakened in time to elect Paul in 2012.  Personally, I feel that if Ron Paul is not elected in 2012, his son Rand has an excellent chance in 2016- provided we make it that long. As far as your concerns regarding a door-to-door confiscation, I wouldn't put anything past our current fascist government, but I personally think it unlikely. The main reason is that Average Joe Six-Pack does not have any gold or silver for the g-man to confiscate.  PM investment is still less than 1% of total investment funds, and THIS INCLUDES MINING SHARES!  Meaning if we're talking about physical bullion, the true percentage is probably closer to 0.25% of investment funds.  The Average Joe simply does not have any bullion to confiscate.  Now, this could change in another 3-5 years if/when gold and silver finally reach the bubble stage of their bull markets and the public finally becomes aware of gold and silver and starts buying.  For now, that hasn't happened yet.  Don't get me wrong, I fully expect the gov't to confiscate, I just don't see it occurring door-to-door.  Even when President Roosevelt made the ownership of gold illegal (over 5oz) in the 1930's, there was no door-to-door confiscation, and the population actually owned physical gold at that time.   I look for the confiscation of IRA's/ pensions/ 401k's, by quietly mandating a percentage of holdings in T-bonds.  Retirement benefits are the biggest hanging fruit that the gov't can pluck with the least amount of effort.  Gold and silver confiscation could be seen in nationalizations of gold and silver mines (another reason to lean towards phyzz in your own possession) which would confiscate vast hoards of gold and silver with a simple declaration and no threat of violence that would be certain should a door-to-door confiscation be implemented.  GLD/SLV, and allocated/unallocated accounts at Brink's, The Delaware Depository, HSBC, JP Morgan, and Scotia Mocatta (COMEX eligible vaults) are the other physical gold and silver inventory that are at high risk for confiscation.  MF Global clients who held their own physical in Brink's vaults have already experienced this.  Finally, if the holding of gold and silver are made illegal in the future, personal bullion stored in safety deposit boxes are at high risk of confiscation in my opinion, and this is one of the reasons I recommend never storing your precious metals in a safety deposit box. As far as hope and encouragement, outside of Ron and Rand Paul, I believe our greatest hope is in the ability of the alternative media and sites such as this to continue to awaken the sheople.  This is a war that can be won with the keyboard and information-provided that right is not taken away.  I believe we are near a great turning point in this regard.  Perhaps one day Zerohedge will have more readers than American Idol & America's Got Talent will have viewers.  The war can be won with information, and you can do your part in this regard daily. Take courage Mark, you are not alone. -Doc