Odey suggests government could confiscate gold if this happens

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Michelle deBoer-Jones
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Gold confiscation has been a hot topic at various times, and amid the coronavirus crisis, some are worried that it could happen again. In his April letter, which was reviewed by ValueWalk, Crispin Odey suggests there’s a small chance the government could confiscate gold again in an extreme situation. Despite that, a sizable chunk of his fund is in gold and gold-backed assets. Odey Asset Management was down 9.9% in April following an impressive 23.6% return in March amid the steep selloff. Conjectures In his April letter, Odey quoted Catherine the Great, who said running Russia was like dealing with…

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Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.