I have written about this confiscation topic several times
I wish I had saved them somewhere in a list
too bad my organization skills are not as good as Jay Chen's
some highlevel comments...
USGovt has 45% debt ownership by foreigners, therefore they cannot act boldly like in 1930
if they ban gold, then the USDollar will fall 30-35% overnight and cause catastrophe
why isnt this plain?
the USGovt now acts like an arrogant indebted fool who swaggers, throws weight, but must beg for dinner
USGovt will eventually be major purchasers of gold on the world market in order to refill its depleted treasury collateral
its debts total $6,200,000,000,000
keep that in mind
their gold has been 70-75% drained stupidly, moronically, criminally
if you drained your collateral, the bank would seize your assets
expect something similar with our govt
the USGovt might purchase several large mine companies
this would satisfy their immediate need to resupply gold in their vaults
something much larger in concept must be kept in mind
as the USGovt replenishes its gold (either by confiscation or open purchase or mine purchase), the maneuver will ignite an absolutely enormous and staggering buy signal to gold
I expect such a signal to take gold to at least $2000/oz in price
if the USGovt were not in such deep debt
if they were not managing a hemorrhaging economy with massive escalating trade debt
if they were using sane economic policy
........ I would be concerned
but they are about as stupid, inept, bankrupt, and desperate as you will ever witness in your lifetime
relax, buy gold, wait
the USGovt will join you soon, when the dollar accelerates in its collapse
the collapse has been written, and now only must be acted out
the forces are there
the criminality of our govt will not bypass the rush into gold
the extreme and immediate efficiency of interstate, international, and intercontinental transactions cannot be interrupted by our govt officials
they can barely monitor terrorists who attack us with premeditated boasting
they can barely interdict drug shipments
they can barely apprehend illegal aliens crossing borders
WE HAVE A MONUMENTALLY INEPT GOVT
eventually they will thank all the gold investors, once the USGovt is onboard and increasing their gold holdings, publicly reiterating their commitment to gold backed currencies
to safeguard, perhaps continue to buy Canadian and other foreign miner stocks
I might soon demand conversion of my account into shares on certificates
protect yourself
THIS IS NOT 1930, DONT BE FRIGHTENED
the parallels are there economically, in fact they are much much worse
but the USA had a surplus in trade back then
the private sector owned very little gold back then
EVERYTHING HAS CHANGED
now, China and the rest of Asia have begun to threaten the USA with their gradual accumulation of gold, using it to fortify their central banking and commerce
OUR LONG NIGHT HAS BEGUN IN THE WEST
OUR FINANCIAL DECLINE HAS BEGUN IN THE WEST
NOTHING CAN STALL IT, ABSOLUTELY NOTHING
we are about to witness a magnificent failure of Keynesian Monetarists
as John Mauldin said in mid-December...
"the transmission has slipped, the car is not moving"
I believe the car sector will usher in a massive recession
if not, then a serious patch of slippery ground from which no traction will be possible for years
when I put my head down to sleep, the thought of govt'al confiscation of gold amuses me and puts a smile on my face
gold owners will be running the economy in 10-15 years
just like stock shorters in 1930 have been running it in our lifetime
e.g. Kennedys, Morgans, et al
THE USGOVT THREATS ARE LIKE A CHIHUAHUA DOG DRESSED UP AS A DOBERMAN
IT HAS A RECORDED BARK, BUT NO GUTS
INSTEAD OF MEATY NECK AND JAW MUSCLES, IT HAS VACANT MUSCULATURE AND NO REALITY
ALL IT HAS ITS DEBTS, DEBTS, DEBTS, DEBTS, DEBTS, DEBTS
SOON ITS CREDITORS WILL BE SELLING THAT DEBT AT DISCOUNT
AND THAT IS WHEN THE PAIN BEGINS !!!
/ jim |
