Alasdair Macleod: Will governments confiscate gold and silver?


12:06p ET Sunday, April 24, 2011

Dear Friend of GATA and Gold (and Silver):

Writing for GoldMoney, economist and former banker Alasdair Macleod reflects on the possibility of confiscation by Western governments of privately held gold. Macleod concludes that confiscation would serve mainly to enrich Asians while impoverishing the few Americans who own gold, without gaining much for the U.S. government. The rationale for the gold confiscation in the United States in 1933, Macleod notes, no longer applies, since gold long ago ceased being part of the country's circulating money stock. Macleod's commentary is headlined "Will Governments Confiscate Gold?" and you can find it at GoldMoney's research section here:

Six years ago, after much prodding through a member of Congress, GATA managed to engage the U.S. Treasury Department in extensive correspondence about the department's attitude toward confiscation of privately held precious metals. The Treasury Department replied that, under certain circumstances, it indeed claims the power to confiscate privately held gold and silver -- as well as the power to confiscate every other financial asset held by citizens of the land of the free and the home of the brave. That correspondence is headlined "Treasury Claims Power to Seize Gold and Silver -- and Everything Else" and you can find it in the GATA archive here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


The Gold Standard Now: It Can Work

Today a dollar is worth 80 percent less than it was 40 years ago, and less than 5 percent of its value a hundred years ago. We deserve a dollar that is as good as gold, a dollar that will hold its value from year to year so we can be financially secure and our economy can generate more and better jobs.

For most of America's history, our dollar was literally as good as gold. But on August 15, 1971, our politicians destroyed the link between gold and the dollar. They destroyed the foundations of our economic system.

A new Internet site,, provides news and cutting-edge analysis about this most important issue and explains how the gold standard worked in the past and how it can work in the future. Visit us today:

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Canuc Resources Pursues Ecuador and Nova Scotia Gold Projects

Canuc Resources Corp. (TSX: CDA) has confirmed high-grade gold and the potential for large-tonnage, low-grade copper and gold mineralization at its primary asset, property in the historic Nambija gold mining district in southeastern Ecuador.

Last November Canuc took an option on the Mill Village gold property in southwestern Nova Scotia, which includes two past-producing mines. Canuc plans to begin surface and underground exploration at Mill Village in the next several weeks, financed by $2 million recently raised through a private placement.

To generate immediate income, Canuc is acquiring MidTex Oil and Gas Co., owner of a producing gas well and a lease on 320 acres in Stephens County, Texas.

Canuc's CEO, Gary Lohman, has more than 30 years of experience in the mining industry, primarily as a geologist, and the company's officers include similarly experienced people.

For more information about Canuc, please visit