Posted on 02/10/2010 11:33:15 AM PST by blam
Learning from History: The Future Possibility of Silver Confiscation
Commodities / Gold and Silver 2010
Feb 10, 2010 - 02:47 AM
By: Dr Jeff Lewis
The history of confiscation of precious metals is well documented, with literally tons of gold and silver ripped from the hands of ordinary Americans during the financially tumultuous years of the Great Depression.
However, history books and academic research rarely shine light into the confiscation of silver and rather focus on gold, even though both were made illegal for a total of 40 years.
In this article, we'll examine the history of confiscation and shed light on the possible future confiscation of silver from investors.
Once Upon 1934
Franklin D. Roosevelt penned the first law to seize precious metal assets from Americans as a way to force savings in banks, rather than allowing Americans to hold their wealth in metals.
Prior to the legislation, banks were riddled with liquidity problems, as trust in the American banking system waned and investors looked for the safest place to store their wealth.
With both the banking system in question and the stock market still volatile after its peak in 1929, investors wanted hard assets, namely gold and silver.
FDR hoped confiscation would push investors towards the banking system, as well as raise cash for a growing Federal budget. Unfortunately, it did just that – all the while ripping wealth right out of the hands of the American people.
The Confiscation of Silver
Silver bullion was also made illegal to own during the 40 year ban. However, this is often little discussed, as silver coins were still a large part of the money supply up until 1964. Almost all pre-1964 coinage was 90% silver, and the coins were not illegal to own during this time, as it was a mainstay of the monetary economy.
Silver bars, on the other hand, were illegal, as they represented wealth outside the monetary system and were systematically “purchased” from their owners at a price well below market value.
The Future of Confiscation
[snip]
Rounds, buy rounds. Ones made of silver if possible. If not the ones made of copper, brass, and lead will do.
They'll have to take my lead before they can take the silver.
You and me both my friend. I didn't spend a decade putting the stuff back to have some FedGov goon just take it away for a price they set.
L
ping
There is going to be a violent, bloody civil war before that happens.
I just wonder how they think they’d pull off some sort of massive confiscation like this without being in the crosshairs of a dozen rifles for every step of the rest of their days...
People are really pissed off at the elitist/fascists and ready for “the trigger”. The fascists would be FOOLS... well, I guess that answers the question right there.
One only needs read about the soviet confiscation of gold
and precious metals during the Ukrainian Famine to know
all that is needed about the process and the consequences.
I’ll keep my silver and my grub,thank you.
I have also read accounts of Feds taking people's gold and silver at that time.
My thought is if it can happen 80 years ago, when the FedGov was a lot more law-abiding and moral, it CERTAINLY will happen in the coming months/years, as we live under a government that has no moral qualms with harming its own citizens.
I look forward to the interesting times to come, as it presents an opportunity to set this country right for our children.
They will more likely confiscate 401(k)s...
When Americans realize that their 401(k)s are only numbers on a computer screen and there is no actual money to back them all. This is why “banks†go out of business. Because they do not have the actual cash money to cover all of the withdrawals.
There are those that say you should keep your food storage secret because the government, in an emergency, will confiscate it if they know you have it.
I’d say if it came to that, we’d have plenty of warning, because there would be a lot more other SHTF before they’d confiscate individuals’ food.
And why should a new confiscation today be any different?
Regards,
I just wonder how they think they’d pull off some sort of massive confiscation like this without being in the crosshairs of a dozen rifles for every step of the rest of their days...
In Ukraine the forced starvation made government offers
of precious metals attractive, of course when you cashed
in your gold, what happened was that the Komsomol noted
your name and address and came around later and searched
your house for the “rest of your hidden gold”. Not to
mention that the chits could only be spent in special
stores.
nothing would surprise me any more from this administration.
I guess I’ll have to break out a plastic spork to eat dinner.
The question I have, and just a question...no opinion.....If the government did this, what good would it do you to own the silver or gold if you couldn’t use it? What would you do with it? I guess it would possibly help in the long term.....maybe 10-20 years out, but short term, how would you use it.
Gold and Silver have I none
Obama took it from me and run..................
In those days, people believed their government. It would never lie to them. A true patrior would do what his government told him to without question. That is how it was then.
The proclamation stated that those people who did not turn in their gold wold have their names published. Did the government know who was holding gold? No. But people believed what their government told them, and if the government hinted that it knew who was holding gold, then obviously the government knew, and anyone who raised his hand in defiance to the government deserved whatever happened to him.
The thread of publication was also the threat of vigilantism. If the government published the names of gold holders, then the holders' own neighbors might just administer some form of vigilante justice, like hanging them.
This is how the Progressive govrnment did business in that bygone era.
Cabela’s is running a $12 per 50 sale on 9mm (Sellier & Bellot).
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