Great minds think alike, but think about this - In your scenario, gold hits “$3k-$5k”. Couple questions. What’s oil doing? Wheat? Corn? Coffee?
How about the dollar itself against other currencies?
Next, FDR paid depositors $20 for every $20 in gold. THEN, he revalued gold (eventually) at $35 - so he could “print” more money. There isn’t any gold standard today, nobody has any gold today to speak of, so how does your modern 2.0 confiscation work?
There isn’t a standard fixed value to re-value against, so what’s the point?
If you figure they truly just want to outright steal it with no compensation, then your premise is we wrong - we are on a Lead standard, or will be very shortly.
And they already _have_ Fort Knox, some 8,000 tons. I gotta turn over my fillings now?
Your premise, "Nobody has any gold to speak of" is flawed. Listen to talk radio any day, or watch any news channel (especially Fox News). Notice all the advertisers selling gold? Someone is buying the stuff or they wouldn't be paying to advertise it.
Freedom4US wrote:
nobody has any gold today to speak of, so how does your modern 2.0 confiscation work?
They're even selling the stuff in vending machines at high end malls.
Confiscation will be more difficult in todays times. I doubt many people will voluntarily give it up. And smart buyers are buying at least part of their Gold reserves with smaller (on coin at a time) cash purchases. I've heard that one of the recent laws places new reporting requirements on bullion purchases. I can't remember if it was the Stimulus, Obamacare or the Financial Regulation law, but one of those (and the rules and regulations adopted under that law) requires a 20+ page reporting form for every bullion purchase after a certain time.
The other softs will also be soaring because of worldwide shortages. IMO, there will be no safe haven. We are doomed to live like a 3rd world country, like the socialists have been dreaming for decades. If you think about it, if we go down, so does everyone else, because we have been propping them up since WWII. When a loaf of bread is a days wage, then the Bible will have been fulfilled. The only question is are we working for a dollar a day or $10000 a day?
In a scenario where we get to keep our gold, how long do you think you could go to the market and pay for something in gold and still live to get home? Someone will see and follow and take. If we still have "banking", would you put your life savings into a bank and trust that the decimal place won;t get messed up? IMO, you will never see your gold again.
As far as Fort Knox goes, I'm glad to see someone finally knows how much is there cause I've never been able to find out for sure. Are you sure? Ron Paul wants to find out and he can't. Is that gold promised to the "GLD" ETF? Is there enough gold to cover the GLD ETF? I don't think so. there is already rumblings about a shortage to fill the commodity if you take delivery. When you buy a wheat future, you believe that if all else fails, you could take delivery, not so with gold.
As far as the lead standard, IMO, it will come just as it has many times before. I have some old DVD's showing Hitler and others on Krystal Nacht. Why would human behavior be different now? Christ would have us reach out to help our neighbor, but alas, we are fallen and have been since the Garden. We are incapable of behaving any other way. Even if you began as a Christian with charity to all, that would last until you saw your family suffer, then all bets are off. Be sure you will lose your fillings soon enough.
It may be possible to pull off a recovery and kick the can down the road once again, but at $20 trillion in debt when Obama leaves office, the can looks more like a 55 gallon drum. I don't think we will kick it very far. We still owe $100 trillion in promises coming due soon.