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Gold made illegal

gdavis70gdavis70 Posts: 256 ✭✭✭
in Precious Metals

On this day in history, Gold is illegal to own

I can't imagine the populace standing for this today...
AntiqueBanknotes • National Currency

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    One of the dates of infamy in US history as we started down the road to pure fiat.

    In the comments to your linked article I found this interesting concerning the Social Security (FICA) Program.
    These are some of the things that the bill originally had:

    1.) That participation in the FICA Program would be
    Completely voluntary,

    2.) That the participants would only have to pay
    1% of the first $1,400 of their annual
    Incomes into the Program,

    3.) That the money the participants elected to put
    into the Program would be deductible from
    their income for tax purposes each year,

    4.) That the money the participants put into the
    independent 'Trust Fund' rather than into the
    general operating fund, and therefore, would
    only be used to fund the Social Security
    Retirement Program, and no other
    Government program

    5.) That the annuity payments to the retirees would never be taxed as income.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • jmski52jmski52 Posts: 22,824 ✭✭✭✭✭
    All it takes is a well-executed publicity campaign to make "gold speculators" the root cause of our economic problems...............I see that as less likely for various reasons, but if the politicians & bankers want a scapegoat for the problems they cause, gold might one day make it onto the list of possibilities.

    Central bankers and politicians would be held much more accountable than they currently are - if gold holds sway, so there are lots of reasons why gold could be targeted.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • gdavis70gdavis70 Posts: 256 ✭✭✭

    Five meaningful promises broken...
    AntiqueBanknotes • National Currency
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>Five meaningful promises broken... >>



    Exactly! This is why I get upset when folks "Lump" SS with Welfare!image
    Avid collector of GSA's.
  • CaptMorganCaptMorgan Posts: 145
    Whats funny, I could totally see the population being ok with this.

    All it would take is a few key talking heads, and the masses will stand behind the government.

    The masses equal a consumer block in the population in America today, nothing more, nothing less.

    If the masses were ever to unite and stand against blatant tyranny, it would have already happened.
  • ProofCollectionProofCollection Posts: 6,117 ✭✭✭✭✭
    They can try to villanize gold speculators just like they have with oil speculators, but what is the end result? Nothing will happen, nothing will change.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>They can try to villanize gold speculators just like they have with oil speculators, but what is the end result? Nothing will happen, nothing will change. >>



    Yeah, but when they burnt suspected witches to death in old Salem didn't everyone feel better for a while knowing that the cause of their problems was gone?
    But as you said, it wasn't long after that when they realized nothing really had changed while the same problems still existed.

    Gold bugs and oil corporations have been villified since Nixon took us off the gold standard. I guess it comes with the territory. Fiat will never be the villain because
    it is so loved by the masses. Even hanging the Hunt brothers out to dry in 1980 did nothing to quell the 40 yr commodity run that was brewing. Just delayed it a bit.
    The Hunts are gone but silver is right back where it left off.

    They can villainize gold bugs all they want....but just lay off the windfall profit taxes!

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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