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Could Tax Evaders Ruin Gold & Silver for Everyone?

A recent Fox News story about a Romanian couple who have as much as $2.7 million in gold and silver coins hidden on their Washington state property has provoked some investors to ponder whether the federal government has any recourse to freeze gold and silver markets if claims of widespread money laundering and/or tax evasion are made.

The Romanian couple sold oil to the Romanian government but billed the product as a lower-grade type oil to pay fewer taxes on the transaction. The couple allegedly bilked the Romanian government out of over $68 million before fleeing to the United States where they built a survival bunker, bought guns and supplies, and buried physical gold and silver around their property.

Many Americans have bunkers, guns and bullion legally, but there is legal precedent for the U.S. government to outlaw a product or service if it is deemed that the product or service in question puts national security at risk. Gold was outlawed in many ways from 1933 to 1973 because of the threat it posed to the U.S. dollar. Could it happen again?

Many investors buy gold and silver coins that have been certified by PCGS or NGC because coins with a third-party certification and verifiable rarity value were exempt under the historic gold confiscation under Section 2-B of Executive Order 3012. Might it be a wise idea to allocate at least a portion of one’s portfolio to a healthy mixture of bullion and certified coins?

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