@s4ny said:
Keep in mind that every American could keep up to $100 in gold coin and additional gold coins that had numismatic value.
This was not well publicized at the time and I think it was purposeful.
$100 in gold coins was actually a decent level for many poor Americans and immigrants....like Perry says, it wasn't well publicized and got lost in the details. I had relatives turn in their gold for fear of being prosecuted or shipped back to Europe.
@dcarr said:
Nobody's. They earned the money. Do you earn a living at someone else's expense, Dan ?
Like sticking it to the Denver Public School system (and Denver tax payers) for $270 million.
What you want is a perpetual financial monarchy. I do not.
A credit-based economy moves economic growth forward in time at the expense of future production. Over time this causes the "monarchy" to gain more and more wealth and control over everyone else.
Its like student loans. As Peter Schiff pointed out, making loans readily available for college has the effect of bidding up the cost of going to college until it becomes too expensive for most people to go without borrowing (and thus, becoming a slave to debt). If student loans were eliminated, colleges would have to adjust to the realities of the market, making it cheaper to go to college, and young graduates wouldn't be starting out their adult lives deep in debt.
Why not blame the Denver Public School System ? Hundreds of others dealt with JP Morgan Chase, and they are VERY HAPPY with the results. You pick up the slack for a bunch of incompetents who didn't know what they were doing.
It's NOT like student loans. There is an argument to be made that financial aid and loans inflate tuition. That is not like credit and banks of which there are 4,000 of them which does NOT equate to a monarchy.
@dcarr said:
Nobody's. They earned the money. Do you earn a living at someone else's expense, Dan ?
Like sticking it to the Denver Public School system (and Denver tax payers) for $270 million.
What you want is a perpetual financial monarchy. I do not.
A credit-based economy moves economic growth forward in time at the expense of future production. Over time this causes the "monarchy" to gain more and more wealth and control over everyone else.
Its like student loans. As Peter Schiff pointed out, making loans readily available for college has the effect of bidding up the cost of going to college until it becomes too expensive for most people to go without borrowing (and thus, becoming a slave to debt). If student loans were eliminated, colleges would have to adjust to the realities of the market, making it cheaper to go to college, and young graduates wouldn't be starting out their adult lives deep in debt.
Why not blame the Denver Public School System ? Hundreds of others dealt with JP Morgan Chase, and they are VERY HAPPY with the results. You pick up the slack for a bunch of incompetents who didn't know what they were doing.
It's NOT like student loans. There is an argument to be made that financial aid and loans inflate tuition. That is not like credit and banks of which there are 4,000 of them which does NOT equate to a monarchy.
We have had that discussion before.
But I will summarize:
Neither the banks nor DPS board chairman Michael Bennett acted honestly in the Denver Public School interest rate swap fiasco.
@Goldminers said:
This event was 90 years ago. Seriously, why is it such a source of wasted time and argument on this forum?
We still have people who lived through it. It goes to show that you need a government that has limits.
Imagine being told that your tech stocks were illegal, but no worries -- the government would give you 2015 prices for the shares !
Government overreach is an inherent risk of every government in history, versus individual rights and freedoms, but that is a political discussion far beyond the scope of this precious metal forum.
Trivia: What happened to the 1933 confiscated gold?
It sat in a vault where it still sits. Sometimes it goes up, sometimes it goes down. 99.9% of the world doesn't have a clue and could care less. It's a non factor for the majority of the real world. Disclamer: I do own some. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
The people were duped into believing the politicians. Rather, the politicians were duped into cheating the people of their wealth for those who were representing bankers. Want to live in a crime free zone ? Own a bank.
@GoldFinger1969 said:
Derry, you split hairs over nothing and it's stuff that doesn't help anybody make any $$$.
which specific hairs?
The disposition of confiscated gold of all Americans is of interest. If not interested, move on. If you want investment advice hire a professional. Purpose of the forum is to discuss all things gold. Not all threads are created to line your pockets.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Comments
This event was 90 years ago. Seriously, why is it such a source of wasted time and argument on this forum?
My US Mint Commemorative Medal Set
$100 in gold coins was actually a decent level for many poor Americans and immigrants....like Perry says, it wasn't well publicized and got lost in the details. I had relatives turn in their gold for fear of being prosecuted or shipped back to Europe.
Why not blame the Denver Public School System ? Hundreds of others dealt with JP Morgan Chase, and they are VERY HAPPY with the results. You pick up the slack for a bunch of incompetents who didn't know what they were doing.
It's NOT like student loans. There is an argument to be made that financial aid and loans inflate tuition. That is not like credit and banks of which there are 4,000 of them which does NOT equate to a monarchy.
We have had that discussion before.
But I will summarize:
Neither the banks nor DPS board chairman Michael Bennett acted honestly in the Denver Public School interest rate swap fiasco.
We still have people who lived through it. It goes to show that you need a government that has limits.
Imagine being told that your tech stocks were illegal, but no worries -- the government would give you 2015 prices for the shares !
Government overreach is an inherent risk of every government in history, versus individual rights and freedoms, but that is a political discussion far beyond the scope of this precious metal forum.
My US Mint Commemorative Medal Set
Trivia: What happened to the 1933 confiscated gold?
It sat in a vault where it still sits. Sometimes it goes up, sometimes it goes down. 99.9% of the world doesn't have a clue and could care less. It's a non factor for the majority of the real world. Disclamer: I do own some. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
The people were duped into believing the politicians. Rather, the politicians were duped into cheating the people of their wealth for those who were representing bankers. Want to live in a crime free zone ? Own a bank.
which specific hairs?
The disposition of confiscated gold of all Americans is of interest. If not interested, move on. If you want investment advice hire a professional. Purpose of the forum is to discuss all things gold. Not all threads are created to line your pockets.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Tens of millions of gold coins -- mostly Double Eagles -- were melted down into 400 ounce bars beginning in 1937.
There was talk of saving a bag or some coins for every year or mintage but it never got past the discussion stage apparently.