(CT-GATA) Treasury Department Claims Power to Seize Gold, Silver--and Everything Else, GATA Says Business Editors MANCHESTER, Conn.--(BUSINESS WIRE)--Aug. 22, 2005--
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The U.S. Government has the authority to prohibit the private possession of gold and silver coin and bullion by U.S. citizens during wartime, and, during wartime and declared emergencies, to freeze their ownership of shares of mining companies, the Treasury Department has told the Gold Anti-Trust Action Committee.
But gold and silver owners aren't alone in such jeopardy. For the U.S. Government claims the authority in declared emergencies to seize or freeze just about everything else that might be considered a financial instrument.
The Treasury Department's assertions came in a letter to GATA dated August 12 and written by Sean M. Thornton, chief counsel
CONTACT: Gold Anti-Trust Action Committee Chris Powell, 860-646-0500 KEYWORD: CONNECTICUT INDUSTRY KEYWORD: GOVERNMENT ENVIRONMENT MINING/METALS SOURCE: Gold Anti-Trust Action Committee Copyright Business Wire 2005 Kathryn Lindsey, Editor Business Wire Dallas
As a matter of fact they have had that power since 1917. Only FDR exercised it in 1933 and Gerald Ford recinded it in 1974. Exceptions were made for industries such as jewelers and dentists and there wa an exemption for coin collectors. Curiously *ANY* private ownership of gold certificates was outlawed during that time but many have survived. I was able to put a complete set ($10 - $20 - $50 - $100 - $500 and $1000) for much less than you would expect. I guess not all our parents were chumps.