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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (53056)	9/7/2004 12:23:05 AM
From: Seeker of Truth	Read Replies (1) \| Respond to of 74559

Taikun, The US only banned the private possession of gold, at the same time raising their offer price from $20 to $35 in the midst of the worst depression that ever hit capitalism. Anybody that sold their gold to the government had an instant large capital gain and a chance to buy stocks that were the cheapest in the century with the money. The government economists were desperate and willing to try anything. There was severe DEFLATION going on. At the same time in Canada the depression hit even harder; yet there was no hint of anybody wanting to ban the private possession of gold, or the purchase of liquor also, for that matter. I'm anything but sure of the future of Canada in general, but keeping one's private gold surely looks safe here. There's certainly no immediate worry about runaway inflation since the federal government is not running a deficit. You can keep your gold but if you actually sell it you must pay a capital gain so under this tax system gold in our hands can't keep its value, paradoxically.