Financial Repression Tracker

Rules that steer savings into government debt or hold returns below inflation, country by country.

Rewrite · Extraordinary measures

Compulsory surrender (confiscation) of private gold

What it is
Orders requiring residents to deliver gold coin, bullion and gold certificates to the central bank at a fixed price, with hoarding made a criminal offence.
Why it counts
Savers lose their inflation and devaluation hedge just before or as the currency is devalued against gold, transferring the revaluation gain to the state.

When it was in force

  • United States: 1933, historical
  • United States: 1933, historical; its end is not documented
  • Australia: 1959 → 1976, historical; the rule may be older than the cited document

3 examples

  1. United States

    1933Historical

    As cited: 5 April - 28 August 1933 (revoked and replaced by EO 6260)

    Required all persons to deliver gold coin, bullion and gold certificates to the Federal Reserve banks or member banks by 1 May 1933.

    Executive Order 6102 of 5 April 1933 (under s.5(b) Trading with the Enemy Act as amended by the Emergency Banking Act)Primary source
    “All persons are hereby required to deliver on or before May 1, 1933, to a Federal”

    fraser.stlouisfed.org (opens in a new tab)Checked: quote matched on the page by script

    United States today: index 42.9

  2. United States

    1933Historical

    Its end is not documented

    Replaced the April orders with a duty for every holder of gold to file a sworn return with the Treasury, tightening control of gold hoarding and exports.

    Executive Order 6260 of 28 August 1933Primary source
    “every person in pos- session of and every person owning gold coin, gold bullion, or gold certificates shall make under”

    fraser.stlouisfed.org (opens in a new tab)Checked: quote matched on the page by script

    United States today: index 42.9

  3. Australia

    1959 → 1976Historical

    The rule may be older than the cited document · As cited: 1959-1976 under the cited Act

    Owners generally had to deliver non-exempt gold to the Reserve Bank, with compensation under the Act.

    Banking Act 1959, Part IV, sections 42-44Primary source
    “shall deliver the gold to the Reserve Bank, or as prescribed, within one month”

    legislation.gov.au (opens in a new tab)Checked: quote matched on the page by script

    Australia today: index 16.9

Examples and their dates reviewed .