“Roosevelt’s 1933 gold raid is well documented but it’s often forgotten that in 1966 Britons were banned from holding more than four gold coins or from buying any new ones, unless they held a licence. It’s not just gold that governments can confiscate – pension assets can be in the firing line, although usually only in emerging markets and in extreme circumstances. In recent years, private pension schemes have been nationalised in Argentina and Hungary. Could such a scenario happen today? And if they did confiscate all private holdings of gold, would it be enough?”
