Posted on 07/18/2014 6:35:46 PM PDT by SkyPilot
Didn’t we sell off the German gold too?
You got it!
Let’s see the audit report from Fort Knox.
They said the same thing in the wake of the Nixon Presidency - King Richard has stolen all the gold! It was there. I helped move it in support of the audit in ‘77, and knew others who did the same in ‘76, ‘78 and ‘79.
Sadly, my boat, my gold, my guns and my ammo are all at the bottom of the lake...it was an accident, I swear!
(And I DO and I WILL continue to trust in God.)
>>Obama will most likely make ownership of gold and weapons illegal in the same Executive Order.<<
I hate to laugh, but what comes to mind is:
Powder
Keg
Spark
>I contend that Gold has very little economic value.
I agree. Even if we still have 100 million ounces, it would only be worth $130 billion, which is nothing in the economy. Gold became useless as a medium of exchange with fractional reserve banking which creates private fiat currency whose volume and value cannot be controlled by a single commodity, which was demonstrated by the bank failures of the Depression.
>Our Dollars value is based on OIL or energy production.
Our dollars are backed by plutonium warheads without which they would not buy oil or anything else.
Gold-plated tungsten.
” If what he says was true, the price of gold would skyrocket to $3000 almost immediately and it would keep going up.” -K5
I disagree, a bit. If the physical gold custody was fraudulent, there would be a huge difference in price between physical/tangible gold and paper/trust gold.
AFAIK - There is no real difference right now.
The paper/trust gold price would drop compared to the physical gold market (which may or may not rise in price.)
The may be in Ft Knox - but how many parties own the same bar? (or lay claim to it?)
That is the question. ad just a few people could pull that off.
Just look at Jon Corzine and MF Global. The money (value) flowed out of there in to democrat re-election coffers. Customer accounts that were supposed to be backed with commodities and cash balances were actually worthless.
Don’t confuse a lock on the front door with security. All it takes is a sharp pencil to steal. (take social security for another example)
Here's the rub.
For many people, this will have zero impact because they earn so little that they don't pay taxes now. They likely don't have 401k's or IRA's.
So next you will have the super-rich, like the Trumps, Limbaughs, Soros and Kochs. Do they have their wealth in 401k's and IRA's? Probably not. There's is probably in other assets. Does that mean that they won't have their retirement funds confiscated?
Next we have the political class. Not quite super-rich, but still multi-millionaires. How will they protect their own money while still confiscating the savings of everyone else?
And then there are the institutional investors, people who have their 401K's in company stocks. How will those be seized and swapped for treasury bonds? Will this type of seizure really be a back-door nationalization of the companies whose stocks were just seized?
Does the government become the stockholder of these stolen shares, or does the government sell off the stocks at spot sale prices? Who will be the buyers of these stolen stocks? And what does the corporation itself have to say about the sudden garage sale of the stocks that they rely on to finance their businesses?
-PJ
Fixed.
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