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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Skeeter Bug who wrote (101963)	3/6/2009 2:49:03 AM
From: benwood	Read Replies (1) of 110194

I read the earlier confiscation order. It was not at a discount -- it was at the prevailing rate of $21/ounce, and you could keep coins of numismatic value and up to three ounces of bullion. Shortly after confiscation, they raised gold to $35/ounce to allow an expansion of the money supply, in effect devaluing the dollar by 40% if I didn't leave anything out. The only point to confiscating gold would be to go back on a gold standard, and I can't see that happening when all I hear about is Keynes. They will give up fiat money (and it's easy expansion) only when it is torn from their cold, dead hands.

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