Never say never...
No, I don't think the US government will demand all gold, since our money is just silly little pieces of paper these days. But I do think desperate times will call for desperate measures. Just what those will be, I'm not sure. But I'm sure we'll see.
And even if the government doesn't seize your wealth by taking your gold, they are going to seize your wealth (further) by taking your money. Or at least the value of it.
It's called monetary inflation. It's called printing money. And like a thief in the night, they'll have stolen your wealth before you even know what hit you.
Here's FDR in '33. Enjoy:
Executive Order 6102 - Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government
By virtue Of the authority vested in me by Section 5 (b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled "An Act to provide relief in the existing national emergency in banking, and for other purposes," in which amendatory Act Congress declared that a serious emergency exists, I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section do hereby prohibit the hoarding of gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations and hereby prescribe the following regulations for carrying out the purposes of this order:
Section 1. For the purposes of this regulation, the term "hoarding" means the withdrawal and withholding of gold coin, gold bullion or gold certificates from the recognized and customary channels of trade. The term "person" means any individual, partnership, association or corporation.
Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve Bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them or coming into their ownership on or before April 28, 1933
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23 comments:
That's right, Keith. Let's not forget that throughout history the government has rarely had the interests of the people at heart. Government is always co-opted and taken over by the ruthless, the corrupt and the elite financial interests.
That's the very reason American Revolution happened. But now a fat and ignorant American public think the government is their friend and are fooled by empty rhetoric and glitz and glamor.
The Americano is an overfed, obese and stupid hog that is just sitting and waiting to be skewered and devoured alive by the jackals and hyenas that have taken Washington.
Have you seen those commercials for sending in your gold jewelry etc., and they send you a check? If I were a conspiracist, I would say the government was behind it, and it was one more way to get all the circulating gold off the streets. There are at least two, and they've been running at least the past few days. Probably because gold will go up, but still, makes you wonder...
I think a reference to "snapping green turtles on a bamboo skewer" is needed - where is that guy when we need him?
They won't stop at confiscating gold.
In fact, the Dallas Federal Reserve, in a paper written circa 2003, stated that the Federal Reserve should impose a tax on PRINCIPAL in savings accounts if the sheeple aren't spending enough to satisfy the government's goals.
That's right, a tax on principal.
The bottom line is this: The Fed and feds will command you to spend to keep this Ponzi economy alive.
What did they do to you if you didn't turn in your gold?
Jersey Girl
You want my gold? (oh, I have quite a bit too)
Here it is.
http://tinyurl.com/autv5r
Hint: It's not in the blue area.
Good luck.
Only 1 (one) person was convicted of hoarding gold under that communist bastard FDR's confiscation act of 1933.
The government is making some good profit with the 2009 Ultra High Relieft Double Eagles. Nice coin. Nice price.
Dude, you're just encouraging the goldbugs. Hey, I love gold as much as the next speculator - my gdx is up like 60% in the couple months that I've owned it.
But there is a certain paranoid streak among goldbugs that is nourished and grows stronger by these kinds of comparisons.
The us dollar (and all other currencies) in 1933 was tied to gold so confiscation made sense at the time. It doesn't make sense anymore.
Could it happen? Sure, anything can happen. But we are at least a couple years away from that. Don't panic. Yet.
I don't think the govt. will do this. It is a different world today and there would be an incredible outcry from the public. Back in 1933 there was a much less sophisticated public and no means of communication other than newspapers.
It just won't work.
all my gold coins were used to pay off a bookie in Las Vegas.
Get it from him!
It was either that or get my legs broken.
The government are a bunch of incompitent bafoons they F**K up everything they touch,
and now they want my gold?
I bought it and suffered through the years with it.
And now that it may be doing something they want it?
They can come get it!
They might as well take my lead while their here because it will be close to the gold!
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At what point will Amerika say enough of this Bullshit!
What is worth fighting and Dying for?
The government 'IS' the Problem here boys and girls!
And somehow....their Not to blame?
Just ask them.
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Why do we keep forgetting they work for US!
Come take people's Gold?
It will be just like in the children’s story, “Billy Goat Gruff,” when the mean ugly troll came to gobble up Big Billy Goat Gruff.
He said, “Just you try!”
My sentiments exactly.
-Mammoth
Could someone explain how it was Constitutional for the gold to be taken given that the Constitution requires all states to pay debts in gold and silver, therefore, people must be able to receive gold in order to get paid for a state debt?
Doubt it.
There are too many new and innovative ways for the government to screw us for the archaic act of confiscating gold to happen.
Calm down, freakazoids. It didn't work back then, and it won't work right now. Who in hell would you trust to confiscate the gold, anyway? The guys you sent out to take it would just pocket it. It's unworkable. And what would they do with it once they have it? Melt it down and give it to the Saudis in exchange for a few more months of heating oil?
Gold has value only insofar as there are still many nouveau riche dimwits out there, one generation removed from burying their wealth in socks under the fireplace in their hut.
If we devolve all the way back to where gold is the only acceptable standard of wealth transfer, a far, far more valuable item will be arable land and diverse food stocks. You know - the things you can either eat, or use to grow things that you can eat.
At that point, just remember that the American Buffalo, when put in raw open Western fields, gains 15 pounds a month eating weeds & ground cover, while the European cows & steers LOSE that same amount of weight, because they are evolved (there's that naughty word again) to survive eating the vegetation native to the Loire & Rhine Valley ecosystems.
You can't really plan for an eventuality like that - well, you can, but it renders you pretty much ineffective if the roof doesn't cave in. Kinda like the millennials who buried themselves in foxholes in rural Wyoming on Dec. 31, 1999, and then emerged the next day, blinking in the unexpected sunshine, wondering why the archangel hadn't blown his trumpet, and they weren't floating up into the sky & sprouting big white wings.
they are coming for your 401k accounts next. all 401k accounts will be confiscated and used to fund a new and improved social security program.
Could someone explain how it was Constitutional for the gold to be taken given that the Constitution requires all states to pay debts in gold and silver, therefore, people must be able to receive gold in order to get paid for a state debt?
Constitutional?? What does that have to do with anything?? Think Social Security and these bail outs are legal?? Hell no, but the Gubbermint has bigger guns. They do what they want until it doesn't work and we do away with them. We're not there yet.
I agree Anon 7:35 - don't know by what means or when but I consider the money in my 401K to be a sitting duck, which is why I do exactly the oppositie of the "experts" and 1) suspend payments into it, and 2) withdraw money outta it despite the penalties. Maybe I'm sentencing myself in my later years to a diet of dog food but what the hey - ya only go around once.
Soros has an interesting idea, how about creating a "new bank" or "good bank" and leave all the bad assets with the current banks along with their capital to wallow in their freakish misery.
that way you leave the old bad management with the mess they created. they would get to keep their newly decorated offices.
Could someone explain how it was Constitutional for the gold to be taken given that the Constitution requires all states to pay debts in gold and silver, therefore, people must be able to receive gold in order to get paid for a state debt?
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the constitution can be suspended whenever they feel there is an important enough reason to do so.
blinking in the unexpected sunshine, wondering why the archangel hadn't blown his trumpet, and they weren't floating up into the sky & sprouting big white wings.
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and leaving their clothes in a pile on the ground.
Having the gov't confiscate gold would be the true wet dream for all goldbugs.... instantly the price of gold will skyrocket. The formal market will collapse but there will be underground markets where buyers and sellers get together.
I'm sure all gold bugs pray for a gov't confiscation order.
Seems impractical. Not gonna happen.
-Mike H.
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