by Nick Giambruno

Argentina, Lebanon, Venezuela, Iceland, Greece, Cyprus, Turkey, Russia, Ukraine, China, India, South Korea, and governments in countless other countries have recently imposed capital.

The lesson from these examples is capital controls can happen anywhere and anytime.

Although it seems unthinkable to most, there is an excellent chance capital controls are coming to the US—they've happened before and could happen again soon.

Remember, in 1933, through Executive Order 6102, President Roosevelt forced Americans to exchange their gold for US dollars under penalty of 10 years in prison and a $10,000 fine (or more than $242,000 in today's debased confetti).

Of course, the official government gold exchange rate was unfavorable. It amounted to around a 41% confiscation of purchasing power.

The US government continued prohibiting private ownership of gold bullion for 41 years until they reluctantly allowed the plebs to own it again in 1974.