519 sats \ 1 reply \ @DiedOnTitan 4 Jun \ on: Gold confiscation in Shanghai, 1948 history
There are a few other notable examples:
- United States (1933) EO 6102 - we all know this story
- Australia Banking act of 1959 Gold may only be sold to the Central Bank.
- Nazi Germany 1938-1945 - Gold, Art, and other valuable assets were forcibly seized from Jewish people and other groups. Among other things, all gold dental work was removed from the mouths of holocaust victims.
- India 1963 and 1991: In 1963, the Gold Control Act banned citizens from holding pure gold bars and coins. In 1991, amid an economic crisis, India was forced to pledge its gold reserves as collateral for a loan from the International Monetary Fund.
- United Kingdom (1966-1971): Gold import restrictions and Citizens were required to declare and sell gold holdings to the Bank of England.
Thanks for the reference to the Australia Banking act of 1959. I had heard of it before, and actually went so far as to try to research, in contemporary newspapers, the public reaction to it. I didn't get very far, though, couldn't find old newspaper archives from that time period.
Any Aussies who could dig into this? Curious minds would like to know.
These topics show up in literature as well. For instance in the (amazing) novels of Nevil Shute, the topics of capital controls and hiding assets frequently come up. A couple that spring to mind right away are The Far Country and Trustee From the Toolroom. I highly recommend both of them, though Trustee from the Toolroom is quite a bit more popular.
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