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COULD OBAMA BAN/CONFISCATE GOLD?

 
TheGasMan
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COULD OBAMA BAN/CONFISCATE GOLD?
Could President Obama ban U.S citizens from holding gold?

Back in 1933, at a time of economic crisis, President Roosevelt forced U.S. Citizens to sell their gold at $20 an ounce - and then subsequently revalued the metal to $35. Could President Obama, a Roosevelt disciple, have similar plans in mind.

Author: Lawrence Williams
Posted: Wednesday , 20 May 2009

LONDON -

Whether one believes in the GATA premise that the gold price is being held down by a gigantic conspiracy between the World's Central Banks, Governments and some major banking institutions or not, there is little doubt that governmental-initiated currency manipulation does occur, and if one looks at gold as money then it is logical that some degree of manipulation here also takes place at Central Bank level. Whether one can call this a global conspiracy, or part of the general process of stabilising currencies and exchange rates, depends perhaps on which side of the fence you are sitting. In a way this is similar to the terrorist/freedom fighter debate!

But, history does tell us that the US government, in the days of a fixed gold price, did intervene in a very direct manner with President F.D. Roosevelt banning the "hoarding of gold coin, gold bullion, and gold certificates" and thus forcing US citizens to sell to Federal Reserve at $20 an ounce. Subsequently the Fed raised the price of gold to $35 an ounce.



[link to www.mineweb.co.za]

Last Edited by Account Deleted by User on 12/22/2011 09:57 PM
Anonymous Coward
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05/22/2009 08:54 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Well, the people with gold are mostly the same people with all the guns. I don't see confiscation happening.
von doom
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05/22/2009 08:57 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
I think people who believe gold will be used for commerce in lieu of a viable currency are mistaken
Anonymous Coward
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05/22/2009 08:58 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
I think people who believe gold will be used for commerce in lieu of a viable currency are mistaken
 Quoting: von doom 679212


they're just trying to preserve buying power.
Anonymous Coward
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05/22/2009 09:00 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Nobody is going to confiscate Gold...and if they tried they would have to dig up half the state.
von doom
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05/22/2009 09:01 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
I think people who believe gold will be used for commerce in lieu of a viable currency are mistaken


they're just trying to preserve buying power.
 Quoting: Anonymous Coward 493498


How?

How can anyone guess what conversion from PMs to currency will be after the SHTF?

That's how they'll do it, which is just as good as confiscating it.
Anonymous Coward
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05/22/2009 09:04 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
I think people who believe gold will be used for commerce in lieu of a viable currency are mistaken


they're just trying to preserve buying power.


How?

How can anyone guess what conversion from PMs to currency will be after the SHTF?

That's how they'll do it, which is just as good as confiscating it.
 Quoting: von doom 679212


Whatever it is, I am betting you that it will be more than the conversion of your failed US dollars to the Amero / NAU bucks or what have you.
smoelike
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05/22/2009 09:07 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
He could, precedent has been set: but will he? Let's check with his Masters.
von doom
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05/22/2009 09:09 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
I think people who believe gold will be used for commerce in lieu of a viable currency are mistaken


they're just trying to preserve buying power.


How?

How can anyone guess what conversion from PMs to currency will be after the SHTF?

That's how they'll do it, which is just as good as confiscating it.


Whatever it is, I am betting you that it will be more than the conversion of your failed US dollars to the Amero / NAU bucks or what have you.
 Quoting: Anonymous Coward 493498


I wouldn't be so sure of that.

A devalued dollar is relative to an inflated ounce of gold.
TheGasMan  (OP)

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05/22/2009 09:11 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
He could, precedent has been set: but will he? Let's check with his Masters.
 Quoting: smoelike 662447

As spoken by a member of another forum...

"Ultimately these marching orders would be coming down from Chateau Rothschild. There was a reason why they gave up their two hundred year seat on the London Fix a couple of years ago. No doubt they have been buying cheap gold hand over fist ever since, with no conflict of interest issues. Time to spring the trap now? "
asiriusfriend

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05/22/2009 09:25 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
gold has gone totally international, how do you prevent
trading in something that other countries have based part of their economy on? china and the saudis would freak!
Anonymous Coward
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05/22/2009 09:28 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
"Confiscation" would be impractical, the treasury can keep printing unbacked dollars for domestic use. But legislation that would disallow individuals to buy sell and trade in gold, with the exception of bank exchange for currency at a set government rate seems within the possibilities of someone
who would offer Chrysler investors 20 cents on the dollar for their stock.
The Commentator

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05/22/2009 09:30 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
obamalamadingdong could try, don't think he would get very far. Real Americans are nothing like the addle brained half wits he is used to hanging around. I suspect he would have a helluva fight on his hands.

Of course I could be wrong.
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Anonymous Coward
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05/22/2009 09:39 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
theyll confiscate ira's & 401k's before gold. easier targets.
Anonymous Coward
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05/22/2009 09:41 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
gold has gone totally international, how do you prevent
trading in something that other countries have based part of their economy on? china and the saudis would freak!
 Quoting: asiriusfriend

No it isn't. China, Saudi Arabia, and other countries DO NOT base their economy or currency on gold.

Foreign currencies are valued based on the U.S. Dollar (as it is the world reserve currency). The dollar used to be backed by gold, thus all currencies were ultimately backed by gold as they could exchange their currency for dollars which was then exchangeable for gold.

However, America left the gold standard and went to a full fiat currency; the U.S. dollar is backed by absolutely nothing! All foreign currencies are based on the dollar (which is based on nothing), so they are in fact worthless fiat currency also. That is why the world tanks when America goes into recession/depression.

You have the entire world's currency (and thus economies) based on completely worthless pieces of paper; just as the banking elite planned many years ago.
TheGasMan  (OP)

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05/22/2009 09:53 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Well, the people with gold are mostly the same people with all the guns. I don't see confiscation happening.
 Quoting: Anonymous Coward 493498

People already turn in guns for money or food. What do you think will happen when things really hit the fan and people are desperate?

Not to mention, a lot of gun owners are law abiding citizens. So, if they make it law that you have to turn it in, they will.
TheGasMan  (OP)

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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Nobody is going to confiscate Gold...and if they tried they would have to dig up half the state.
 Quoting: Anonymous Coward 683007

They did back in 1933. Now of course, not everyone turned theirs in. Why do you think that the 1933 double eagle is one of the most valuable coins on Earth? And all of those pre 1933 eagles and half eagles...well they obviously weren't turned in either. There are some that debate if owning a gold coin dated 1933 or earlier is even legal.
KEVAN

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05/22/2009 11:12 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
................from God ? drevil
"That's all I have to say about that" - Forrest Gump
Clio

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05/22/2009 11:14 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Confiscate Gold? Heck yeah! It's the logical next step.

damned

bike
Anonymous Coward
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05/22/2009 11:20 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
they cant confiscate my goldspring shares
Anonymous Coward
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05/23/2009 12:53 AM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Nobody is going to confiscate Gold...and if they tried they would have to dig up half the state.

They did back in 1933. Now of course, not everyone turned theirs in. Why do you think that the 1933 double eagle is one of the most valuable coins on Earth? And all of those pre 1933 eagles and half eagles...well they obviously weren't turned in either. There are some that debate if owning a gold coin dated 1933 or earlier is even legal.
 Quoting: TheGasMan


We have learned from this have we not?
Anonymous Coward
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05/23/2009 12:58 AM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
They're doing it now, havn't you seen all those commercials? Cash4gold, etc. "Sell us your gold, just mail it in and we'll send you a check."

My g/f mentioned that this is how they are getting all the gold back, and I thought about it, and I think she's right. Where's all that gold go?

And what a better way to get all the gold back than to buy it back. And judging by the number of commercials and advertising I've seen, I think its working.
asiriusfriend

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05/23/2009 01:18 AM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
gold has gone totally international, how do you prevent
trading in something that other countries have based part of their economy on? china and the saudis would freak!

No it isn't. China, Saudi Arabia, and other countries DO NOT base their economy or currency on gold.

Foreign currencies are valued based on the U.S. Dollar (as it is the world reserve currency). The dollar used to be backed by gold, thus all currencies were ultimately backed by gold as they could exchange their currency for dollars which was then exchangeable for gold.

However, America left the gold standard and went to a full fiat currency; the U.S. dollar is backed by absolutely nothing! All foreign currencies are based on the dollar (which is based on nothing), so they are in fact worthless fiat currency also. That is why the world tanks when America goes into recession/depression.

You have the entire world's currency (and thus economies) based on completely worthless pieces of paper; just as the banking elite planned many years ago.
 Quoting: Anonymous Coward 670060

their currencies are not based on gold, they have however invested heavily on speculation. and they are both pillars of support to the U.S. Americans in any case would simple create a black
market and cross the boarders.
snarkModerator
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05/23/2009 01:29 AM

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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Re: all the "gold buying" ads...when someone is pounding on you to sell them something, DO NOT SELL! If someone is going to steal it from you (confiscation) then it's time to get the shovel out.
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05/23/2009 01:30 AM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Well it happened before and if it could happen once it could happen again.
TheGasMan  (OP)

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05/23/2009 01:33 AM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Nobody is going to confiscate Gold...and if they tried they would have to dig up half the state.

They did back in 1933. Now of course, not everyone turned theirs in. Why do you think that the 1933 double eagle is one of the most valuable coins on Earth? And all of those pre 1933 eagles and half eagles...well they obviously weren't turned in either. There are some that debate if owning a gold coin dated 1933 or earlier is even legal.


We have learned from this have we not?
 Quoting: Anonymous Coward 646621

I am sure some have....but time will tell.
Anonymous Coward
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05/23/2009 01:33 AM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Idol1

Interesting premise, but there is no way even all the gold in the world would be able to get us all out of the fix we are in.

It will have to be something totally radical. Something that will cut down on all thew huge deficits, and the ability of crooks to steal the governments money.

The only answer, is a universal virtual credit currency unit that is traceable for each and every transaction carried out.

No more theft, as every valuable item either bought or sold would have a unique id number that traces to the unique id number of the parties involved in the transaction.

This is a completely new system of commerce, and tracking. A brotherhood of the world. It will completely change the way we live, and at first it will seem to be the salvation of the world, but soon it will be revealed for what it is, the system that will herald the end of this present world.

Idol1
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05/23/2009 01:34 AM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
All the folks who think their buried gold is safe are not thinking clearly. All one needs to find it is a metal detector. Im sure the gov has much more advanced technology than metal detectors...
TheGasMan  (OP)

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05/23/2009 01:37 AM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Re: all the "gold buying" ads...when someone is pounding on you to sell them something, DO NOT SELL! If someone is going to steal it from you (confiscation) then it's time to get the shovel out.
 Quoting: snark

Well, I don't think it will be outright confiscation...but I do think they might create a law that says, "You are required by law to forfeit any gold that you have and we will give $x dollars for it. Just like they did in the 30's.
von doom
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05/23/2009 02:32 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
Excellent thread
Anonymous Coward
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05/23/2009 02:50 PM
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Re: COULD OBAMA BAN/CONFISCATE GOLD?
There's a simple solution to this...

Put all of your money into baseball cards, comic books and action figures.
Hopefully they shouldn't confiscate it. tounge



Food, booze and cigs would be the ideal investment alternative though.





GLP