Then remember that even FDR, during a depression that brought 25% unemployment, never took over auto companies and banks.
So what isn't Obama capable of doing?
Posted on 08/07/2009 12:47:39 PM PDT by h20skier66
There's a lot of Internet chatter these days about the possibility of the U.S. government seizing its citizens' private gold holdings. What are the chances?
(Excerpt) Read more at commoditynewscenter.com ...
Is there now?
Sounds like the standard cheezy advertising line "Everyone's talking about [insert obscure new unknown product here]!"
Why such a brutally short excerpt from your blog?
You wouldn’t be pimping, would you?
And "Our toothpaste is guaranteed 100% wombat-free!"
I have a feeling most of these rumors are started by people trying to pump the price up or who are affiliated with companies who buy gold (ie, get you to sell it to them before it is taken away).
Well, they did it once before. What was the purpose that last time? ...and what would be the purpose this time?
Bullet confiscation should be the Govt biggest worry...
Then remember that even FDR, during a depression that brought 25% unemployment, never took over auto companies and banks.
So what isn't Obama capable of doing?
During submission my internet connection dropped sorry for the short excerpt and bad link.
There’s a lot of Internet chatter these days about the possibility of the U.S. government seizing its citizens’ private gold holdings.
What are the chances?
Well, it’s always good to bear in mind that there is no telling what the government might do. It’s already doing things that were unthinkable just a few years ago. If President Obama believes there is political hay to be made from seizing your gold - or even if he sincerely thinks such a move would be “good for the country” - we’re sure he won’t hesitate to make the grab. After all, his favorite predecessor, Franklin Roosevelt, set the precedent.
Many Americans don’t even realize that private gold ownership was forbidden for forty years, but it was. The relevant edict is Presidential Executive Order 6102 of April 5, 1933, which begins:
Forbidding the Hoarding of Gold Coin, Gold Bullion and Gold Certificates By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled
An Act to provide relief in the existing national emergency in banking, and for other purposes,
in which amendatory Act Congress declared that a serious emergency exists,
I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section to do hereby prohibit the hoarding of gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations ...
Link
http://www.commoditynewscenter.com/articles/Insight/Are_We_Being_Conned_About_Gold_Confiscation%3F
It was volunteer turn in in 1933, and one lawsuit. However if this past few months is any indication of what this Admin would do...it’s 100% chance.
Read the notice:
"UNDER EXECUTIVE ORDER OF THE PRESIDENT"
"all persons are required to deliver..."
A Reality Check. When paper money wis discovered to be totally worthless, only something substantial will work. Germany's Weimar Republic finally stopped the runaway inflation by issuing the Rentenmark, which was backed by land, and which people accepted because land couldn't be printed.
The last time e did it was so the govt could inflate. This time, I suspect that when things really fall apart financially, something like a gold-backed currency, even if the public couldn't convert it, would be the nation's salvation for the same reason.
However, politicians being the creatures they are, they won't go this route until the nation is impoverished and there is no alternative.
come and try....
“Criminal penalty of $10,000 or 10 months in prison” doesn’t sound very voluntary to me. Maybe they didn’t carry through on the threat, but that didn’t make it voluntary.
I’m wondering how they think telling us government will take all our gold away is supposed to make us want to buy more of it.
But it was effectively voluntary.
I remember my grandmother showing me what “real money” looked like - a small jar of gold coins. Other old folks also had gold coins. They had been in circulation so it was no big deal to keep them, the ones confiscated were those that passed through the banks. No cops knocked on doors and searched for hidden gold.
It might be different today with the modern paper trail.
Spooky stuff.
But hardly enforcable.
I kinda doubt it.
Remember, when it happened under FDR, Gold WAS money. So many people had gold, I mean it was one of the primary mediums of exchange.
By removing the gold from circulation as money, people were forced in to using FRN’s.
I bet there is only 5% as much gold in private hands today as there was back then. And most of that is jewelry.
It would cause way more ill will and mistrust in government than it would be worth.
Blog Pimping never ends during freepathons..
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