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In principle, we must answer this question in the affirmative. First of all, it is good to define a distinction between confiscation and 'nationalisation'. In the case of confiscation, the state confiscates the gold and does not pay any compensation in return. In the case of a 'nationalisation', the state also claims the gold, but pays compensation in return. We have also seen the latter with the ABN Amro bank, which was nationalised in 2008.
The Dutch government can confiscate gold. Pursuant to Article 26 of the Emergency Financial Transactions Act (25 May 1978), the Minister of Finance has the power to Gold bars, Gold Coins, fine gold, unwrought gold or semi-finished product from residents of the Netherlands. On the basis of the Emergency Situations Coordination Act (3 April 1996) and the declaration of a state of emergency referred to therein, this emergency law can be put into effect.
The fact that there is a theoretical possibility that the Dutch state can confiscate the gold does not mean that this chance is realistic in practice. Such an action will not be accepted by Dutch citizens without question. In addition, confiscation is difficult to carry out. There is no register of Gold Possession And gold is present in many different forms. For example, according to this law, there is no possibility for confiscating jewelry. But the fact remains that there is the possibility of confiscation.
In the Netherlands, this confiscation or nationalization of gold has never occurred. The United States is a good example where a nationalization of gold has occurred.
In 1933, President Roosevelt, under Executive Order No. 6102, requisitioned all of America's private gold reserves. It was forbidden to possess gold and citizens were forced to surrender their gold to the FED. There was a compensation of $ 20.67 per troy ounce (31.1 grams) for the gold. The reason given was to strengthen the dollar, which had been significantly weakened by the economic depression. Critics speak of a major gold heist, since the Fed set the price at $35 in 1934.
The confiscation of gold is more plausible than for silver. After all, gold has been used as a gold standard for many years, and this could be a major reason for confiscation. For this danger, silver would be a safer haven than gold.
