So I just ran into this video today on youtube by a man whom I just learned about James Richards whom advocates for a Gold standrd return. http://www.youtube.com/watch?v=nxaYh68jZ0A . In this video, he claims Europes Gold is in the united states and that the president can just pass an executive order confiscating Europes Gold much like how FDR did to American citizens. The statement blew me away. I wonder if the mises community knows anything about this? I was never aware that were in possession of Europes gold. The IMF, I believe also has Gold stored in vaults. What would be the immediate political and economic consequences if the U.S were to just confiscate American, European and IMF gold? that is already about 70% of all the worlds Gold as Rickards says.