Who are these fools listening to - - -
Coulport
Posts: 1,087 ✭✭✭
that advocate investing in pre 1933 gold because the Government can't confiscate it?
The most money I made are on coins I haven't sold.
Got quoins?
Got quoins?
0
Comments
jjroll
I wasn't aware of any year type cut-off and I don't believe there was one.
FDR got away with it by silencing his critics and I do mean silencing, You could look it up, it's a very interesting period in our history. Also a clear example of the Federal government ignoring the Constitution when it get's in their way.
Today, it would be much more difficult, if not impossible to achieve. In fact some, if not many, would chose to exchange their lead first.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
They would also establish their power and ability to run roughshod over the people in violation of the US Constitution as they have been doing in more subtle ways for a long time, FDR just raised the bar.
No one was suggesting guns being confiscated. You sound just like the perfect example of the kind of citizen that politicians and tyrants worldwide absolutely adore.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>The Govenment would gain a great deal by confiscation. They would add many millions to their coffers and strengthren the treasury.
They would also establish their power and ability to run roughshod over the people in violation of the US Constitution as they have been doing in more subtle ways for a long time, FDR just raised the bar.
No one was suggesting guns being confiscated. You sound just like the perfect example of the kind of citizen that politicians and tyrants worldwide absolutely adore. >>
An educated non-paronoid citizen? The last time gold was made illegal to own (1933?) the government gave you cash for your gold. They didn't just steal it. I suppose they only thing you'd spend your gold on was a visit to Area 51.
<< <i>The Govenment would gain a great deal by confiscation. They would add many millions to their coffers and strengthren the treasury.
They would also establish their power and ability to run roughshod over the people in violation of the US Constitution as they have been doing in more subtle ways for a long time, FDR just raised the bar.
No one was suggesting guns being confiscated. You sound just like the perfect example of the kind of citizen that politicians and tyrants worldwide absolutely adore. >>
Yes, and if you do not wear a tin foil hat when you are using your computer the government can monitor your brain waves through your modem!
<< <i>
<< <i>The Govenment would gain a great deal by confiscation. They would add many millions to their coffers and strengthren the treasury.
They would also establish their power and ability to run roughshod over the people in violation of the US Constitution as they have been doing in more subtle ways for a long time, FDR just raised the bar.
No one was suggesting guns being confiscated. You sound just like the perfect example of the kind of citizen that politicians and tyrants worldwide absolutely adore. >>
Yes, and if you do not wear a tin foil hat when you are using your computer the government can monitor your brain waves through your modem! >>
Deadhorse, In the original gold order gold coins that were rare or having unusual value to collectors were exempted but no specific date range wa mentioned. In a later revised version of the order rare coins were defined as any and all gold coins struck before April 5th 1933 with the exception of quarter eagles of which possession was limited to not more than four coins of any one date and mintmark.
Your insults fail to reach me as I've dealt with far more ingrained people/sheep than you'll find on this board. Tinfoil hats, Area 51. Lord, I love a rational discourse.
Since you seem to be uninformed I'll explain it to you. Gold was devalued by FDR prior to confiscation, the people were paid a pittance. As soon as the Feds had the gold it was revalued at a much higher amount.
The government/treasury was all of a sudden in much better shape and FDR was able to tell the sheep what a good job he had done by increasing the Federal vaults. That was the famous Fort Knox hoard, which no longer exists, BTW.
Are you aware of Title 31, United States Code, Section 5117?
Under subsection (a), it provides that all federal reserve banks must turn over any gold held by them to the US Treasury Department. This entitles them under subsection (b) to "gold certificates" from the Treasury, which in turn entitle the Fed to exactly $42.222 per ounce of gold so transferred.
Please be a "good citizen" and turn over any and all gold in your posession at the Federal rate of $42.22 immediatly. I'm sure after you've done that you will feel much more secure and smug in your efforts to ridicule.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Suppose gold rises to 8 to 9 hundred dollars an ounce in 2005. For those of you who don't follow things, that is exactly what the oil producing Nations along with Red China are hoping to achieve.
Confiscation is such a nasty word and implies such terrible things.
Here's an idea, a simple tax of, oh say $300 an ounce on any transaction. Price goes up, tax goes up accordingly such that American citizens can never realize their hard earned hedge against inflation.
Take it out of the country?? Depriving the nation of such critical resources is treason at worst, sedition at best. For that you do deserve confiscation and 20 years in the Federal pen.
The hope that I and others in my position have is that bullion rises accordingly to: one, meet it's real world value and two, does so in a smooth rather than dramatic fashion. If the Government sees people getting rich overnight, they ARE going to step in and take a large piece of the action, it's just their nature.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff