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Gov't to CONFISCATE Gold... again? - Page 2

post #21 of 25
Quote:
Originally Posted by StockJock-e View Post
Keep in mind this was not confiscation by armed police coming into your house. The US was coming off the gold standard and they were reevaluation gold at $35/oz from the $20/oz it was at, so you were making money by getting rid of your gold.

You were required by law to give up your gold for paper money, that is the scary part, or face a fine.

It will never happen again because we now know that if people were permitted to keep some savings in gold, that depression would not have been so bad.

You certainly didn't "make money" by giving up your gold to FDR and the Fed.

Consider - You have $20 in a 1oz gold coin. You turn in that 1oz gold coin in exchange for $20 Federal Reserve Notes (FRN).

They finish confiscating all the gold.

Now they revalue the dollar at $35 per oz of gold. So the $20 you have in your pocket now buys only .57 of an oz of gold. So they devalued the dollar by 43%!

Not a good deal.
post #22 of 25
Quote:
Originally Posted by StockJock-e View Post
It will never happen. The global financial system has grown to be far too complex and intertwined. The logistics of such a plan are preposterous.
I have to agree,its all global now and doesn't just involve the U.S. Although in the 30's it was a global issue to but we as a country was more concerned about our financial issues first and not the rest of the worlds screw ups.
post #23 of 25
I still have to say that the most valuable metal will soon be lead........
post #24 of 25
Quote:
Originally Posted by QuestSolver View Post
I still have to say that the most valuable metal will soon be lead........


post #25 of 25
But just in case:

Dig a hole in the ground, put your gold and silver savings in a plastic box, seal it well, put it in the ground and cover it. Or just sell gold!

Optional: Plant a tree above as a diversion and decoration.
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