HSBC Tells Goldbugs To Take A Hike

This item comes courtesy of the Business Insider's Joe Wiesenthal. HSBC Bank has told its safety-deposit customers to stop using their vaults to store gold.

It's made clear in the story that this decision was on a business basis - the vault space is being earmarked for institutional gold clients - but it touches on one of the hardcore goldbugs' bugaboos. As many know, President Roosevelt confiscated U.S. citizens' gold in 1933. There are more than a few goldbugs who think that the U.S. government will do so again. For curiosity's sake, here's a guide to protecting gold holdings from possible government confiscation.

(The author of it considers such a contingency to be "unlikely," by the way.)