Posted on 09/09/2009 10:41:31 AM PDT by Falcon4.0
Back in 1933, at a time of economic crisis, President Roosevelt forced U.S. Citizens to sell their gold at $20 an ounce - and then subsequently revalued the metal to $35. Could President Obama, a Roosevelt disciple, have similar plans in mind.
But, history does tell us that the US government, in the days of a fixed gold price, did intervene in a very direct manner with President F.D. Roosevelt banning the "hoarding of gold coin, gold bullion, and gold certificates" and thus forcing US citizens to sell to Federal Reserve at $20 an ounce. Subsequently the Fed raised the price of gold to $35 an ounce.
President Obama is known to be a Roosevelt disciple and he must be well aware of what was done at the time, given the parallels of the U.S economy between the present time and the 1930s. There must be a temptation to try the same tactic, and then raise the gold price dramatically in a move which would certainly support reserves within those nations which still have major gold holdings.
See Website for entire Article.
(Excerpt) Read more at mineweb.co.za ...
He is CIC without busting out any ID...why not?
Sure could!
He will have to pull the hoop earrings out of my cold, dead ears.
Nothing would surprise me.
I’ll turn mine in, 180gr at a time.
“Why yes, Mr Authority, I used to own gold coins; however, I donated them to the campaign to reelect Pelosi, Reid, Frank, Dodd, Boxer, Feinstein...(choose one). If they did not declare it as a campaign contribution, then I would like to lodge a complaint and you need to go and arrest them.”
They have to find it first.
I believe we should have a Government only Option for Health care. We should continue to spend all of the TART (Stimulus Money) and we should also pass Cap & Trade.
I believe all of these should funded by and made mandatory upon all of the people who voted for Obama (Democrat, Independent or Republican).
In addition, I believe any and all federally funded social programs or any programs funded by the federal government that is not part of their constitutional powers under Article 1 Section 8 should be funded in full by anyone who is a registered Democrat or has ties liberal lunatic fringe such as anyone is a member of Huffington Post, Daily Kos etc.
Course that’s just my opinion...
Same with the St. Christopher medal my Dad got for me in Vatican City long long ago. I never take it off.
The trick is enforcing the ban.
I forgot to add...
Right now, add up the weight of the gold you own and send a box of rocks of the same weight to one of those listed in previous post. Be sure to keep the PO receipt showing weight of the package and proof of shipping.
“See, I have proof. They received the “gold” and didn’t report it!”
Given that “gold” is being touted as a safer alternative to paper money paper “gold” (e.g., gold securities) strikes me as stupid.
Similarly, gold in safe deposit boxes is a bit stupid; ask my grandparents who had to leave theirs in Nazi-loving France.
Coins, etc, held in private safes would be much harder to locate.
If I was going to go this route, that would be my approach.
I would also think about silver, as it is probably less inflated right now.
Yes in deed! :) He’s forgotten along w/ the vast majority in DC they govern by consent. When the folks in fly over country stop consenting the music stops in DC. Some how they seem to believe we’ll just roll over again and take in the rear. Those days, I think, are coming to an abrupt close.
I believe a "box of rocks" could also send a symbolic message. ;-)
he will cuzz he wants to redistribute the wealth...
First of all, let me reassure everyone that the metals markets are already tightly controlled. This means everything from steel, gold, silver, copper, mercury, aluminum, tin, lead, the platinum group, especially palladium and rhodium.
They are controlled by people that all they do is deal in these metals, likely a particular one. And they do not want competition nor to share the wealth with novice or even professional speculators.
Second, metal is just metal. Fairly useless unless you do something with it. It has no value as legal tender, and unless professionally assayed, then put in a sealed package, there is no assurance that it is what it is alleged to be.
The assumption is often that it can be used as a currency token, because it has an inherent value. But that only works if there is another form of currency to which it can be readily translated. So is an ounce of gold worth a loaf of bread, or a brand new BMW?
Metal is also the victim of an extreme form of the Iron Rule of Currency, which is “Bad Money Pushes Out Good”. If there are two competing currencies, people will use the less valuable one, and save the more valuable one. While *usually* this benefits the good currency, in the extreme, it turns priceless into worthless.
If the price of the metal goes too high, nobody can afford it, so they have to deal in other currency. Unless metal is used as a currency, it loses value as a currency.
Gold? What gold??
All mine was stolen — along with my guns and ammo —several years ago.
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