This page has been archived and commenting is disabled.
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
»
- GoldCore's blog
- 112839 reads
- Printer-friendly version
- Send to friend
- advertisements -
The troll is strong with this one.
More likely will be naitonalization of Gold Mining Companies. They "may" confiscate "bullion" again but will likely leave numismatic gold alone as they did in 1933. In 1934 the feds confiscated silver bars as well. Most people don't realize that. "Everything" is on the table with these tyrants.
Buy the three precious metals: Gold, Silver and LEAD!
Tuco
Ha, ha. Jeez, you crack me up. The jig is up with these Elite Scum Fucks & more than enough of us that hold Phizz know if anyone tries to "Physically" attempt to confiscate they'll going to end up getting a face full of 00 Buck.
This isn't the 30's anymore.
Don't forget to gas up the woodchipper....
I hope you are correct Chup, but I do know that talk is cheap.
Tuco
True, Americans are not even close to being as civil as we were in the 30's
Hell, "Americans" are not even close to being as American as were in the 30's.
Forget about gold, invest in pb and cu instead.
I gots about 800# of copper.
Lead and copper can be mined in North America. Tin cannot.
Who mentioned tin?
The little girl on the yellow looking road. Gold? Don't know.
Gold is already "confiscated" via collectibles gain tax @28%.
Correct answer..........no need to confiscate when there are all the vatious taxes in place. Damned if you do...damned if you don't
Reggie and I are getting married. We need all your gold for wedding gifts.
Please send it to 1600 PA Ave.
Reggie was in the WH for Manshelle, not Barak. Barak has been boinking Ben Finkenbinder for over 9 years now. Get with the program.
http://fellowshipoftheminds.com/2012/10/03/obamas-golfing-buddies/
As I am not a "Player", to which "Program" do you refer?
Will the governement confiscate gold again? That's silly. The government will confiscate everything.
The government sells gold coins. Now they are going to make gold illegal? That is really a long shot. Look at the trillions of dollars the gov is in debt. Compare the debt to the relatively small amount of gold in private hands. Confiscating all the private gold would do nothing towards solving the US fiscal problems.
Who is upvoting this garbage? ZH is being overrun with trolls and mindless drones who don't understand the difference between the manipulated price in worthless paper and actual value.
Let me spell it out to you Ajax and your fanboys. Gold in dollar terms is manipulated because the price is set by paper contracts for gold that is not yet in hand (or even out of the ground). If we were to go back to a gold standard then gold would have to be valued based on the number of dollars versus gold in hand. If memory serves, this would mean a real ounce of gold would be repriced to $50,000 or something. At that point, a hamburger would cost you roughly 50x what it costs now, in dollar terms. You would still be able to buy the same hamburger with the same amount of gold regardless of the dollar price.
Value versus price.
You can't have it both ways. If the price is manipulated lower, then there will be some gain in purchasing power after the manipulation ends. So, yes, a hamburger will cost a lot more than it does today (priced in dollars) -- but you will still be able to buy more hamburgers with your gold too.
Thanks for your input. "mindless drone" Hey - don't EVER call me a drone!
The people upvoting can do math. There is zero chance the US will go on the gold standard.
Frankie, the math is easy, Just insert zeros and move the decimal point a few spaces to the right.
Tuco
There is zero chance the present gummint actors will return to the gold standard. Fixed!
Amricans . . . .
a people who know the price of everything,
and the value of nothing.
When you say that confiscating gold will do nothing, it tells me that you don't understand that gold IS money.
Wil lthe local 7Eleven accept your 1/10 oz gold goin to fill your tank and a big gulp? Didnt think so.
Today's 7-11? You wanna bet?
That's why they make silver coins.
If the Lebanese or Chaldean store owner is on the premises, I would say YES.
Point taken. Thank you.
Only an idiot wouldn't take $110 worth of gold for a $35 dollar fill-up and a Big Gulp, but this is Obamas America, so I see your point.
Well, we drive superduty diesels down here in TX. Costs a bit more than $35.
...and you guys didn't mention the value of junk silver. It's role is to be useful for small purchases.
Whup, there it is,
;-D
The government sells gold to the public.
The government knows who to and how much.
Game over (boating accidents aside).
Diversify. Buy Palladium.
Use a front.
only thing worth less than fiat fed reserve notes is the cheesy insipid insulting gold core ad
Is it time to buy gold yet? Hahahahahahahaha are you kidding??? LOLOLOLOLOLOLOL
Good luck with that. Three coin shops areound my area are cleaned out and there are weeks for delivery. Back orders are piling up everywhere.
Is it time to buy gold yet? Hahahahahahahahahahaha
Despite your hysteria, I presume you mean physical gold is scarce?
Provident has stock.
where do you live - what town?
Americans don't own gold bullion so this is a ridiculous proposal.
Not all phys gold is in buillion and yes many Americans own various forms of gold they hold. But in the scheme of things per capita it is a small niumber. Much less than own equities or have money in some vehicle for retirement which will also be confiscated.
Of course they would confiscate G&S if they felt it necessary ? Do you think they willlet your gold filings go by the wayside ? I seriously doubt it? They will have a squad of goonsd to remove them. Ponder that weird shit ! And is it posiibl;e ? bet your ass it is !
I don't own gold bullion, but I am waiting on Mr. UPS man to bring me another 35 pound package of Tungsten today.....I use it for casting projects and such, being an artiste an all, verbal and otherwise.
Krylon will make you a millionaire....
Then get some.
I just had a horrible thought. When gold finds its price, do you think ghouls will dig up corpses for the gold teeth?
Why not? It isn't like the corpses need the gold.
sad but true, and i cant for the life of me get some people to understand that Federal Reserve notes are legal tender currency paper notes and not money-commonly referred to as cash-. In fact, Private businesses are free to develop their own policies on whether or not to accept 'cash' unless there is a State law which says otherwise.
speaking of businesses being free to devolpe their own policies, this is only true unless the supreme court rules you must obey even if it's against your moral Conscious . Double stansdards abound.