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Politics : Technical Analysis -- Ignore unavailable to you. Want to Upgrade?


To: lorne who wrote (5738)4/6/2013 11:00:33 AM
From: Beam  Read Replies (2) | Respond to of 14245
 
James -- I think this is the first step on the road to confiscation, just like Roosevelt did in 1933. In effect, those collecting physical metals are being groomed to supply the "backing" for the next incarnation of the dollar -- sometime after a major economic crisis, perhaps very soon.

Roosevelt "compensated" those whose gold was confiscated @ $20 0z -- then quickly raised the "standard" to $35 oz. Gerald Celente mentions this on KWN: Gerald Celente

Another must-read article on this can be found here: Why U.S. Gov’t Confiscated Gold in 1933. Can it Happen Again? - GoldSeek.com which points out that Roosevelt didn't raise the price of gold, but rather devalued the currency.

There's not a single doubt in my mind that the government will have to resort to confiscation to keep the US dollar relevant in any way, shape or form -- especially when the Chinese and Russians peg their currencies to gold.

Why not let the citizens buy the gold for you, then just take it all away and print up a few more billions of sheets of paper to give them in return. Then peg the price of gold to the new currency at a much higher value than you gave your "suppliers". It worked before, it'll work again -- oh, and they'll have to throw in world war III to stimulate the economy.



To: lorne who wrote (5738)4/6/2013 11:03:53 AM
From: The1Stockman  Read Replies (1) | Respond to of 14245
 
Good read, ... here is what happened in 1933.

<"Executive Order 6102
From Wikipedia, the free encyclopedia
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Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States". The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.">

~~

They even sealed off all Safety Deposit Boxes for review.

~~

<"All such coin, bullion or other possessions of gold and silver be tendered within fourteen days to agents of the Government of the United States for compensation at the official price, in the legal tender of the Government. All safe deposit boxes in banks or financial institutions have been sealed, pending action in the due course of the law. All sales or purchases or movements of such gold and silver within the borders of the United States and its territories and all foreign exchange transactions or movements of such metals across the border are hereby prohibited.">