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IMHO gold will hold value longer than their ability to enforce the ban.

The question is, will you live long enough to see the end of the ban. If you have children it may very well be worth it.

And there is precedent to this, see Executive Order 6102: https://en.wikipedia.org/wiki/Executive_Order_6102

There is a universe of alternative currencies. If people truly start trading gold its not going to stop until they barter in peas or clams

A "ban" on gold would only achieve multiplying the spot price by ten overnight. It would be the final signal that fiat currencies should be avoided at all costs.

... and incentivize people to smuggle their gold out of the country.

International trade is far too large these days to stop gold-smuggling.

Look at the great job we're doing with drug smuggling. Most cocaine enters the US hidden in shipping containers.