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Will Uncle Sam Confiscate Gold Again?
DAILY PRICES
Today’s
Gold Prices: USD 1125.00, EUR 1009.87 and GBP 737.94 per ounce.
Yesterday’s Gold Prices: 1130.05, EUR 1005.88 and GBP 739.63 per ounce.
(LBMA AM)
Gold
was 0.8% lower yesterday and closed at $1125.40 per ounce, down $8.20 to go
0.6% lower for the week. Silver was flat and again closed at $14.69 per ounce
but is nearly 1% higher for the week.
Will Uncle Sam Confiscate Gold Again?
Investors suffered financial losses in recent
weeks as stocks globally came under pressure in August and had their worst month in the last three years.
In one of the most volatile trading periods since the global financial crisis,
August saw a massive $5.7 trillion erased from the value of stocks worldwide.
No major stock market was left unscathed and the risk of financial and economic
contagion became evident again.
There are growing concerns internationally that
in the event of another Wall Street or global stock market crash and a new
systemic crisis – a Eurozone debt crisis or another Lehman Brothers collapse – there could be
enforced bank closures or extended bank holidays in the EU and U.S. as seen in
Greece recently.
In this
scenario, deposit boxes and vaults in U.S. banks and financial institutions
could be sealed and gold confiscated again.
There is a legal precedent for this. April 5th, 1933 – at the height of
the Great Depression – was the day when U.S. President Franklin Delano
Roosevelt instructed all American citizens to hand over all their gold coins
and bars to the Federal Government.
Read more on the GoldCore.com blog
IMPORTANT COMMENTARY
Gold retains 2-day decline ahead of U.S. jobs data – Reuters
Perth Mint’s gold, silver sales drop in August but robust – The Economic Times
UPDATE 1-Supervisors should not tell whole truth about bank health -BuBa economist – Reuters
Best Ever August for Bullion Silver Eagles – silvercoinstoday.com
Gold fever hits Poland with possible discovery of Nazi train – Yahoo News
IMPORTANT COMMENTARY
Gut is telling me that this is a bear market – Frisby – MoneyWeek.com
These Are a Few of the Stock Charts That Spook Louise Yamada – Bloomberg TV
Why Are Foreign Countries Repatriating Gold From US Federal Reserve? – Sputnik
Death Crosses Everywhere; Time to Buy Gold Yet? – Barron’s
Your savings are at risk – Tim Price – MoneyWeek.com
Read more News and Commentary
Download Essential Guide To Storing Gold Offshore
»
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Not Confiscate, an unconditional swap of worthless pieces of paper with number written on them for something that is worth something (Gold/Silver/Platinum/Palladium).
And the funny thing is, it's the Banks that have all the Worthless pieces of Paper and have to get rif of it.
molon labe
What percentage of the population even holds gold today? Jim Rickards predicts a "windfall profits tax" will be laid on those who want to sell it. Sounds to me like the most likely scenario.
Why would your Dirty Uncle Sammy even want to Bother with Confiscation if he can just Default on Social Security, Medicare, and all the other Entitlements?
The whole gold confiscation was a bluff then and now. Ny the IGNORANT turned their money (gold) into the banlsters. READ THE CONSTITUTION.
Render unto the federal reserve, the things that are the federal reserves..... As they see it.
http://www.gainesvillecoins.com/tips/26/debunking-the-gold-confiscation-...
Ah, the obligatory twice monthly Goldcore "Will the Govt. confiscate gold?" article.
Where would ZH be without this constant sales pitch?
And for the umpteith time the answer is NO. You're more likely to have your dirty underwear confiscated than your gold because it would be about as productive as fishing for sharks in your rain gutters.
That is all.
rather than confiscate i think they will simply rig a way to make people sell it. your kids are starving , surprise surprise gold is worth a lot more than it used to be, so trade it in now. and be happy
LOL! What gold?
Placing a 50% tax on sales would be WAYYYY easier than confiscation. Sounds more politically correct, too!
Tax money? Yeah right. Direct taxes must be apportioned amongng the state's. Oh, the sky is falling!
Hint: they locked you out of bank vaults. If it's in a bank it's not yours.
One could purchase those gold bezels from APMEX and mount their eagles or maples into them, then loop a cheap necklace chain through them and viola! You now have nothing more than jewelry.
My wife loves to show off her eagle to her friends...
one word - "SILVER"
According to the vault manager I deal with, not a single person was convicted of owning gold under FDR's confiscation order. It would be interesting to know what percentage of people owning gold turned theirs in. According to a previous ZH article, the penalty of $10,000 plus ten years in jail would be equivalent to a fine of $180,000 today.
Also, citizens could keep $100 worth of Gold or about 5 ounces at the time.
Tuco
FRANK-DODD Anything in bullion (gold, silver, platinum, etc.) over $250,000, there is required reporting with the exception being old coin of US and Canada (, but remember that the Fed is private, just condoned by congress like the National Football League, to run a monopoly). If it is coin it still be taken such that it is government property and then they have to buy it at 'fair market'. Get them Indian eagles[, quarters and half's] (they are so politically incorrect).
That would be unconstituional.
....and your point is?
Windfall profit taxes. If the gold price does rise lots, they will get their digs there.
I don't think confiscation is in the cards.
They like doing things with 0s and 1s
Sovereigns will demand physical in repatriation scenarios. If they come for it, that will be the reason...
;-D
Hey BBC News, do you know what dog poop looks like? It looks like the crap article you wrote soft pedaling the wannabe Cankle in Chief [or on a bad day, we will call her the Crankle in Chief]. Screw U BBC!!!
http://www.bbc.co.uk/news/world-us-canada-34156479#sa-ns_mchannel=rss&ns...
My property, my cash, my gold, my life. They have no limits.
"Will Uncle Sam Confiscate Gold Again?"
The quick answer depends on considering whether bears shit in the woods or not.
The more detailed answer is: The DC US government acts as the colonial governors for the Zion colonized American country. That is, Zion is systematically exploiting and plundering the American country backed by the violence of their DC US governors.
Does then one expect Zion, the plunderers of plunderers, to leave billions in gold in the hands of their now destitute American farm animals?
Zion is a scheme, not an ethnicity..
On another note if the dickheads think taking jewelry is a good idea guess again. The females will send their men out to kill anyone that thinks taking her jewelry is ok. We are talking no pussy until the threat to her stack is dead.
Assasians will prolly take payment in gold. That right there is one big problem for those that think confiscating gold is a good idea. Its one thing to have a plan. Making that plan a reality is another thing.
First person that gets taken away for not turning in gold everyone is going to be looking for a good return. Not saying its right just saying. The gold would be in the black market in nano seconds. Call it free range gold.
People that were clever would turn it into jewelry pretty fast too.
ASS Asians? You mean Japanese male prostitutes?
They tried to take people's guns after the Sandy Hook hoax, and look at the response they got. Millions of Americans disobeyed and bought even more guns. Don't think they will have much luck with gold either.
Why would they need to, CB's fixed everything, there will never be a need to do so. It's all rainbows from where I sit.
It is all rainbows because they are pushing the homo agenda.
Do you know why they do that?
So you will think that ass fucking is normal, because that what they want to do to everyone.
population control through buggery, and don't forget the homosexual lifestyle CHOICE that leads to an early death at a median age of 42....
That and they just don't have many offspring...
Funny how that breeding works.. lying bastards
That EO only applied in the District of Columbia and it’s Territories, NOT at states of the Union. Read the dam law and you will know this to be true! More fear mongering, disinfo, and amateur reporting.
Why do you think those MRAPs are everywhere?
They won't try to seize it. People simply wont comply and they (the government) are marginally smart enough to know it.
This time around they will simply try to tax the shit out of PM sales, ala capital gains, and if the tax is heavy enough- in the 35% and above range- the sheep will do what they always do.
They won't have to be smart. Just ask the NSA to hand over every online transaction you've done in the last 10 years and they will know everything you have(less buying at a coin show or your LCS).
why do they need to confiscate when they already control the price?
Because the Saudi King is here right now, asking for his gold, and he's not in the mood for promissory notes,,,
;-D
tell him we spent his gold fixing WTC
Perception vs. reality. What's behind the curtain? A little slight of hand! They control the paper price, an illusion, but not the physical price, and the spread is widening as the con becomes apparent and the urgency accelerates to exchange fiat for PM metal. There are a number of active markets.
Today the US is on a debt standard, and they will come for your funds and accounts (bail-ins). That may include some gold (mostly paper claims on gold or gold derivatives). The actual confiscation is the current pull-back and ongoing raids on the ETFs holdings (mainly GLD and re-re-re... hypothicated or leased out customer gold in the CONeX-LBMA system and the FED).
What gold ?
Gold fanatics are MUCH worse in their delusions that the equity droids.
USA is NOT going to collapse.
Treasuries and USD are not going to be worthless.
Gold is not going to save you from any calamity.
AND
Hillary will confiscate anything and everything that gives her power over you.
And YOU motherfucker, are a stain on society....fuck off...and your punishment is to eat Hillary's asshole.
If you aren't a gold bug, you are a paper bug. Bzzzzzzz
I'm betting Anal Prober is a stockroach.....or just a typical socialist tick or leech.
Huffpo is looking for it's missing lapdog.
[Huffpo is looking for it's missing lapdog.]
Hey lunatic,
We've changed that, now it's Puffho, stands for Puffington Host,,,
;-D
I'm quite fond of Muffington Boast
I don't even read the HuffPo coercive-collective socialist propaganda, much less work for those vermin parasites.
I also do not invest emotionally, eg gold fanatics' scenario = hate the USA regime, therefore it MUST crash hard, therefore USD & treasuries must become obsolete and therefore gold must be the only salvation = pure lunatic fantasy and idiocy.
Yes, the USA regime sucks stinky bilge water, BUT
hatred for the regime is NOT the basis for a good investment strategy
the USA, USD & treasuries will NOT "end" in any catastrophic outcomes.
The USD WILL just simply decline in usage, influence, power, relative value
BUT
over many, many, many years - the USD will decline, decay and rot - not collapse.
There will NEVER be a gold-backed fiat currency and especially NOT any fiat currency REDEEMABLE in gold.
All you gold fanatics will just be waiting for Godot - and LOSING money.