 | Exactly 90 years ago today the president, Franklin D. Roosevelt, signed "Executive Order 6102" - "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States." This meant that, aside from a small handful of gold coins, bullion or jewelry you could be prosecuted with a fine of upto $10k (roughly 200k today lol inflation) or up to 10 years in prison if you were found in possession that exceeded the meager limits after May 1st 1933. The executive order was signed shortly after the recently passed "Emergency Banking Act" under the pretense that hoarding gold was "stalling economic growth and worsening the depression". Hard working people that were saving their wealth in a hard asset were made criminals overnight for refusal to hand their gold into the state. As most of you are probably aware the value of gold has recently spiked, hitting above $2k as consumers, central banks and well, just about everybody is beginning to become concerned that the USD is in the early stages of losing it's foothold and will likely continue being printed into oblivion. Value of Gold VS Global currencies What's my point? We've already seen the start of "operation chokepoint", making it as difficult as possible for consumers to purchase cryptocurrency, forcing exchanges to find alterior banking on and off ramps. We've already seen well known politicians coming out and claiming they're forming "anti-crypto" armies. Is it really so hard to believe that if shit gets really bad, the state will do whatever it deems necessary to not only trap you and force you to use their devaluing fiat currency but they will also make it a criminal act to save your wealth in other hard assets, not just gold this time but bitcoin and other cryptocurrencies too. Most people on here have been using KYC exchanges without much concern that the state will ever come after them or the dogecoin they bought on Robinhood but I imagine people thought similarly about buying gold back in the 30s. This is why I would suggest that everyone own some non-kyc crypto that is not linked to them in any tangible way as a precaution against such a dramatic authoritarian move from the government. Here's an article from bitcoinmagazine that goes into some detail about the options (bitcoin specific obviously) but consider Peer2Peer on a platform like Bisq or Robosats instead of Binance, Robinhood, coinbase etc who will almost certainly hand your file with a bow on it over to the Feds if shit hits the fan: https://bitcoinmagazine.com/culture/get-non-kyc-bitcoin-before-you-need-it [link] [comments] |
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