The decree forced Americans to sell their gold to the government at an artificially low "official price." If they refused, they faced harsh penalties: a $10,000 fine (over $200,000 in today's debased dollars) and/or up to 10 years in prison.

It was blatant theft—a sweeping confiscation of wealth from the American people.

Today, many fear the US government could resort to gold confiscation again if it becomes desperate enough. And honestly, those fears aren't misplaced. The government's financial situation is rapidly deteriorating.

But would it really attempt another 1933-style gold grab?

I don't think so.

What's More Likely Than Outright Confiscation
Here's the reality: only a tiny fraction of Americans own gold today.

I'd wager most have never even seen a gold coin, let alone understand its value.

Back in 1933, things were different. The US was still operating under a version of the gold standard, and gold was much more widely held. Today, a repeat of that playbook just isn't worth the effort.

If the government wants to steal wealth, it doesn't need to knock on your door. It can do it quietly and continuously—by printing money and debasing the currency. It's the stealthy way to confiscate from savers.

But gold owners shouldn't feel too comfortable.

I believe the next threat will come in a new form—not outright confiscation, but through a punitive windfall-profits tax on gold. And that could be even more dangerous.

The Coming "Fair Share" Gold Tax
There's precedent for this. In 1980, Congress passed the Crude Oil Windfall Profit Tax Act, which levied up to 70% on so-called "windfall profits" from domestic oil producers.

And what exactly is a "windfall profit"?

As far as I can tell, it's whatever politicians say it is. There's no real definition—just a politically convenient excuse for legalized plunder.