Gold Confiscation....
Jimnight
Posts: 10,846 ✭✭✭✭✭
Very good article ... if you have a strong stomach. Can it happen in our life time?
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Jimnight
Posts: 10,846 ✭✭✭✭✭
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easy peasy.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I'd say a tax on assets (which would include precious metals) would be more likely.
These conspiracy people drinking some funky kool aid...
He who knows he has enough is rich.
I hope I'm wrong ... but IMO ... I think a lot of people are going to be in for a rude awakening.
Those first two paragraphs say a lot.
if the us dollar gets in enough trouble, then it might have to go back on a gold standard, and we all know the country doesn't have enough gold in reserves to do that, so...
Will They stop selling gold coins to the public before they start stealing them back?
Haha maybe they'll resell the ones they "confiscate"!
The idea cracks me up 🤣
Liberty: Parent of Science & Industry
Unlike in 1933, I doubt that very many people would comply with a government order to turn in their gold in exchange for rapidly depreciating paper money.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Perhaps JoJo Un is going to confiscate all our papergolds?
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
At the Federal level, a wealth tax is unconstitutional - although so are a lot of things that have been enacted recently. A State government could do that - and as general fund revenues fall I could see a asset-related tax be enacted. The rate can be graduated on different classes of assets, making holding gold too expensive. Extend the tax to businesses that buy gold and exempt gold held less than 72 hours. Feds can set up a mechanism to buy gold at a fixed price and make export of gold illegal. Might not get it all - but they didn't in 1933 either
When California, New York and Illinois all demand federal bailouts, you can be sure that gov.com will decide to keyboard more money into existence rather than to increase taxes noticeably. Don't underestimate the sleazy politicians' ability to sell us all down the river into forced servitude.
I knew it would happen.
I was in Mexico on vacation years ago when the Mexican Government over night moved the decimal on the Peso 2 places. My 100 Peso was now 1 Peso. That was a interesting trip.!!!!!
100% Positive BST transactions
When they need it, they will take it.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Exactly.
which is why it won't happen
Dollar can be backed with only one ton of gold, after they reprice it (like they did after they confiscated it).
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Settle down my brother, nobody's confiscating anything.................yet lol
P.S. Back to the old creepy avitar, damn!!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Border Patrol confiscates $28K in gold bars from Chinese illegal
Somebody should probably assay them.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Since much of American's privately held gold is undoubtedly in the hands of rapidly aging baby boomers, I'm guessing that a certain forgetfulness would set it when it comes to the reporting of these holdings.
Smuggling gold and novel viruses ... pity.
Not today....tomorrow....who knows? Things are changing fast.
Relax....Nothing will happen in the immediate future. When something does happen, it will probably be unlike any current predictions....The only certainty is, SOMETHING will happen, EVENTUALLY. Cheers, RickO
Gold will not be ...confiscated.
It will be purchased
THEN it will be "revalued"
And the screwing might feel better.
Remember, the Fed can print enough "money" to be able to "afford"......any..... amount of gold.
Gold, what gold?
My YouTube Channel
The golds all gone. accidently swapped it for gutter metal.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Yep !
My YouTube Channel
The Feds will confiscate this forum history and be coming after us all.... RUN!! HIDE!!
Cheers, RickO
My boat sinks once a year, yarrrrrr.
I will use the Sgt. Schultz approach.
How would anyone know what you have? All of my bullion purchases have been cash under $10k so no one has any idea what I have to take it. Next the tin foil hat club will say they are coming for your wedding bands and necklaces.
NOW THEY KNOW !!
MIKE B.
They're definitely coming for your wedding rings and necklaces! I'm freakin' out man!
Click on this link to see my ebay listings.
They know what i had...
Must have been a real slow day at Kitco for them to dredge that article up for the upteenth time.
The golds all gone. accidently swapped it for gutter metal.
I can offer you some golden Sac dollars for you if you need a placebo.
I knew it would happen.
People comply with the face mask and social distancing orders. According to polls and studies, 79% of Americans obey the face mask and social distancing rules.
Most people will obey an edict. Only a small minority will rebel. And a few of them will be made examples of, like Frederick Barber Campbell, Gus Farber, Morris Anolik, Dan Levin and Edward Friedman, David Baraban & Jacob Baraban, and the entire board of the Uebersee Finanz-Korporation which had $1,250,000 face value in Gold Coins confiscated from them in 1933.
For any law to work, there have to be consequences for those who disobey. There will be consequences.
they will take your gold when they cannot get it elsewhere.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
People wear masks because there is no financial loss for doing so unlike handing over their gold. Very few people will willingly hand over thousands of dollars just because of some unnamed consequences. In order to know you have the gold, they would have to do house by house searches. If history repeats, hand your gold down quietly until its legal again in the future.
The micron size of a virus is way smaller than the openings in a cloth or even N95 mask, so the mask issue is puzzling to me.
I knew it would happen.
One virus expert said that masks work about as well for keeping out viruses as a chain link fence does for keeping out mosquitoes.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
depends upon the mask
doctors do wear masks
I have found dozens of peer reviewed and published (gold) studies showing masks don't work. No one has shown me one (gold) where masks do work. Here is just one. For all the gold.
Long, Y. et al. (2020) “Effectiveness of N95 respirators versus surgical masks against influenza: A systematic review and meta-analysis,” J Evid Based Med. 2020; 1- 9.
https://onlinelibrary.wiley...
Summary:
“A total of six RCTs involving 9,171 participants were included. There were no statistically significant differences in preventing laboratory-confirmed influenza, laboratory-confirmed respiratory viral infections, laboratory-confirmed respiratory infection, and influenza-like illness using N95 respirators and surgical masks. Meta-analysis indicated a protective effect of N95 respirators against laboratory-confirmed bacterial colonization (RR = 0.58, 95% CI 0.43-0.78). The use of N95 respirators compared with surgical masks is not associated with a lower risk of laboratory-confirmed influenza.”
Lahme et al., in 2001, wrote that ‘surgical face masks worn by patients during regional anaesthesia, did not reduce the concentration of airborne bacteria over the operation field in our study. Thus they are dispensable.’
@coinnerd: the study you have referenced above does not demonstrate that masks do not work. Rather, it shows that N95 masks are not more effective than surgical masks (in the context of influenza).
(The language used in the results summary is admittedly confusing and does seem to be describing your conclusion. That is not, however, what the study was designed to show or what it does show. It is only comparing the effectiveness of two types of mask. It is not assessing the overall effectiveness of masks. This is actually clearly stated in the title of the article and in the conclusion section. The peer reviewers should have edited the language in the results section. )
Amazing that a bunch of bunker preppers have suddenly become experts in the transmission of covid virus. One expert I never heard of before said on the internet that masks don't work so it must be true. Forget about what science and the entire medical community has concluded.
As for the gooberment confiscation your gold I wouldn't hold your breath. They've got an endless supply of paper and no need for your gold bars. Regards!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
At one point in history gold and silver controlled people in power. Now people in power control gold. They will never relinquish that power ever again. Gold will serve them. They will never be submissive to gold. Taking away someone else’s gold would indicate they need gold to maintain power. They don’t. They have paper and the fed. That’s all they need.
Roosevelt's confiscation order is often cited as a reason to hold pre-1933 gold coins instead of modern post-1983 gold because pre-1933 gold coins carried some exemptions to the order. The fact is that gov.com can make any rules that they feel the need to make - on any types of gold or other commodities. They can always change their minds on pre-1933 gold.
I contend that pre-1933 US gold coinage confers no special advantage over more recent US gold coinage, which was sold, promoted (and distributed) as an alternative form of investment by the very same gov.com that once confiscated gold under quite bogus circumstances right before re-valuing it. That makes it a bit harder to justify confiscation, but never say "never" when it comes to government overreach.
The counterfeiting laws are intended to squash any competing currency, so if gov.com feels threatened by gold (or anything else) as a medium of exchange, it will be made illegal or undesirable in various ways by gov.com fiat.
On the other hand, gov.com will have a much harder time turning around the people's experience with gold and confidence in gold during times of upheaval over 5,000 years. In fact many corrupt governments hoard their own gold while the people are discouraged from keeping it, often by decree or simply by taxation. That alone should give you an idea of gold's value. People sense value in gold and silver - regardless of culture or geography, and there are multiple reasons for that.
I knew it would happen.
Cowling, B. et al. (2010) “Face masks to prevent transmission of influenza virus: A systematic review,” Epidemiology and Infection, 138(4), 449-456.
https://www.cambridge.org/c...
Summary:
None of the studies reviewed showed a benefit from wearing a mask, in either HCW or community members in households (H). See summary Tables 1 and 2 therein.
https://link.springer.com/a...
bin-Reza et al. (2012) “The use of masks and respirators to prevent transmission of influenza: a systematic review of the scientific evidence,” Influenza and Other Respiratory Viruses 6(4), 257–267.
https://onlinelibrary.wiley...
Summary:
“There were 17 eligible studies. … None of the studies established a conclusive relationship between mask/respirator use and protection against influenza infection.”
A review by Skinner and Sutton in 2001 concluded that ‘The evidence for discontinuing the use of surgical face masks would appear to be stronger than the evidence available to support their continued use.’
@coinnerd: thanks. This is a useful and interesting discussion. Just to make sure we are not too far off topic, let me try to bring this back to precious metals and the topic of the thread, as follows: the course of the COVID epidemic will have a significant bearing on the course of the economy. Public policy (including advice on such things as wearing masks) may have a material impact on the epidemic, and therefore the economy, and very possibly on the level of money creation and inflation. In scenarios of high money creation and high inflation, the importance of gold may rise, leading to the potential for confiscation.
With that preamble: The studies you cite above do not support what I believe you are asserting. But, to make sure I am not misinterpreting your point, let me restate it. I believe that you are essentially arguing that there is no significant evidence that wearing of masks will protect against COVID spread, and therefore, people should not bother to wear masks. You have not in fact explicitly said this (the "therefore" part), so I may have misinterpreted your point.
In any case, It is unlikely that the authors of the papers you cite above would agree with the words I may have put in your mouth! The primary conclusion of these papers was that (in 2010 and 2012) there had been very little research on the effectiveness of masks, the few studies that existed had very few participants, and some of the studies attempted were flawed in method. The various authors assert that, based on the (2010 or 2012) understanding of the mechanics of the spread of influenza, wearing masks, along with other protective measures, appears to be good practice. However, in 2010 or 2012, there was little evidence to conclusively support that recommendation.
To draw the conclusion I have described above, you would need to show that there was extensive good quality research showing that wearing masks had no material positive benefit. That is not true. There simply is not much research.
Up until COVID, there did not seem to be a lot of interest in this line of research. Studies undertaken in 2020 are beginning to reach the publication stage. They are likely to be bigger, better designed, and, of course, directly more applicable to COVID than these small, early, inconclusive influenza studies. In the meantime, it would be very wise for people who spend significant amounts of time in crowded public places to wear masks.
This advice may keep the price of gold from skyrocketing.
I'll go out on a limb and be a jerk and write that I don't believe coinnerd understands what he/she is copying and pasting.
I went and read through "Effectiveness of N95 respirators versus surgical masks against influenza: A systematic review and meta-analysis" and it clearly states that the thrust of the article is to compare usage of N95 masks vs. surgical masks. This article does not make any assertions that masks don't work rather, it states that in the limited applicability of the review it finds that N95 mask usage vs. surgical mask usage provides essentially similar levels of protection. If that article was considered "For all the gold" then that gold would be gone.
In honor of the memory of Cpl. Michael E. Thompson
Thank you, guys. I was planning a read and a rebuttal this morning as well. Couldn't improve on your precision.
Here's a warning parable for coin collectors...
one of us has the other half's job doing covid testing. they use ppe.