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Politics : Technical Analysis

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To: Beam who wrote (5754)	4/6/2013 2:33:21 PM
From: TriN2Learn	Read Replies (1) of 14245

@Beam: James -- If/When the US confiscates gold from everyone, they'll have to revalue it much higher than it is now, or even when it's $5,000 oz. -- in order to make it have any relevance at all in backing the currency. I'm not sure what you are implying here. There is no question that gold would have to be revalued for the reason you mention, but there is reason to believe that the revaluation would be done AFTER the confiscation, not before. In 1933 gold was confiscated by paying $20.67 per ounce. In 1934, gold was revalued to $35 per ounce. One would have to have a lot of faith in the Government to think it would pay the revalued price for the gold it confiscates. JMO, TriN

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