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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Bread Upon The Water who wrote (103924)	2/11/2009 7:11:05 PM
From: Dale Baker	Read Replies (1) \| Respond to of 541991

If we can't control drugs, firearms or immigration, how could the government possibly confiscate physical gold in millions of homes? It amazes me what gets batted around on the Internet without scrutiny.

To: Bread Upon The Water who wrote (103924)	2/15/2009 7:18:46 PM
From: TimF	Respond to of 541991

I keep remembering the 70's when gold went from $200 to $800 an ounce in a relatively short time period (because inflation was rampant from fighting two wars--the war on poverty an the VN War) The equivalent today would take it from about $900 to over $3500 an ounce. I looked in to the historical price of gold, and it was surprisingly stable at $1XX for most of the 70s, despite all the inflation. It reached $201.30 on 07/28/78, $302.15 on 07/18/79, $411.20 on 11/28/79, and $850.00 on 01/21/80, so you did have a sudden increase at the very end of the 70s/beginning of the 80s. (data from usagold.com ) But if you measuring the sudden increase as starting when gold reached 200 (so it would have been about a 325% increase in about a year and a half), it had been near $200 for awhile before the start of the sudden increase. Gold now has already had a similar increase from $200 to $300 early in the decade to over $900 now. After more than tripling in recent years, I think its unlikely that it will more than triple again. It didn't do that in the late 70s to early 80s.