U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-02-2009, 06:04 AM
 
Location: Raleigh, NC
20,017 posts, read 15,729,614 times
Reputation: 3745

Advertisements

Usually, when gold rises too quickly or when hyperinflation is expected, the government takes steps to make it difficult to impossible for gold to be exchanged for goods or paper money. At what point do you think gold will be made illegal to own (again)? Will the provision be inserted as a rider into a larger bill (i.e. cap & trade) or will the government have the balls to make a fresh law front and center?
Reply With Quote Quick reply to this message

 
Old 12-02-2009, 06:16 AM
 
Location: Tennessee
34,691 posts, read 33,700,331 times
Reputation: 51914
Quote:
Originally Posted by summers73 View Post
Usually, when gold rises too quickly or when hyperinflation is expected, the government takes steps to make it difficult to impossible for gold to be exchanged for goods or paper money. At what point do you think gold will be made illegal to own (again)? Will the provision be inserted as a rider into a larger bill (i.e. cap & trade) or will the government have the balls to make a fresh law front and center?
Tell us about it in the past. I'm clueless on this issue, maybe because I never had any.
Reply With Quote Quick reply to this message
 
Old 12-02-2009, 06:17 AM
 
Location: Raleigh, NC
20,017 posts, read 15,729,614 times
Reputation: 3745
Executive Order 6102 - Wikipedia, the free encyclopedia

"forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates" by U.S. citizens. It was not supremely enforced but there can be no denying the executive branch had an interest and reigning in inflation through brute force.
Reply With Quote Quick reply to this message
 
Old 12-02-2009, 06:19 AM
 
Location: By the sea, by the sea, by the beautiful sea
58,187 posts, read 41,002,133 times
Reputation: 29918
uhhhhhhhhhh.......................



NEVER!
Reply With Quote Quick reply to this message
 
Old 12-02-2009, 06:21 AM
 
Location: Raleigh, NC
20,017 posts, read 15,729,614 times
Reputation: 3745
Quote:
Originally Posted by burdell View Post
uhhhhhhhhhh.......................



NEVER!
Why not? It was done before.
Reply With Quote Quick reply to this message
 
Old 12-02-2009, 06:45 AM
 
Location: Tennessee
34,691 posts, read 33,700,331 times
Reputation: 51914
Quote:
Originally Posted by summers73 View Post
Executive Order 6102 - Wikipedia, the free encyclopedia

"forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates" by U.S. citizens. It was not supremely enforced but there can be no denying the executive branch had an interest and reigning in inflation through brute force.
Thanks. That was an interesting reference. The Treasury Department takes custody of safety deposit boxes when banks fail and you have to go to Treasury to claim them? Yikes.
Reply With Quote Quick reply to this message
 
Old 12-02-2009, 06:55 AM
 
Location: Londonderry, NH
41,492 posts, read 51,385,768 times
Reputation: 24613
At least somebody is taking care of the boxes instead of allowing them to be scavenged by some enterprising looter. I do not think the government confiscates the contents but just secures them for the legitimate owner.

Owning gold is a non issue for me because outside of a small amount of jewelry and the caps on a few teeth I don’t and do not plan on owning a significant amount.
Reply With Quote Quick reply to this message
 
Old 12-09-2009, 05:09 PM
 
Location: Raleigh, NC
20,017 posts, read 15,729,614 times
Reputation: 3745
Gold investors may want to read this.

Because of recent inquiries to GATA about the possibility of an attempt by the US Government to confiscate privately held gold and silver bullion, coins and shares of companies mining the precious metals, GATA is republishing the correspondence between GATA and the US Treasury Department on the subject.

The Treasury Department was surprisingly candid in that correspondence, asserting the US Government's authority, in declared emergencies, to confiscate precious metals and to restrict ownership of mining shares. Given that the recent arrogance and imperiousness of the US government has far exceeded even the paranoia of precious metals investors, perhaps precious metals investors have good reason to feel paranoid.

Certainly capital controls may be imposed in the United States in a currency crisis and it's not far from capital controls to even more brutal interventions in the economy.

The reply from the Treasury Department's Sean M. Thornton to GATA on the subject of confiscation is excerpted here: "The U.S. Government has the authority to prohibit the private possession of gold and silver coin and bullion by U.S. citizens during wartime and declared emergencies and to prohibit their ownership of shares of mining companies."


CHRIS POWELL
Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Reply With Quote Quick reply to this message
 
Old 12-09-2009, 05:11 PM
 
4,570 posts, read 6,546,454 times
Reputation: 2538
This will not go down quickly.
Reply With Quote Quick reply to this message
 
Old 12-09-2009, 05:13 PM
 
Location: Raleigh, NC
20,017 posts, read 15,729,614 times
Reputation: 3745
If the government were to be so bold, they may be met with a nasty surprise if they go door to door. I ain't kidding about that. Since gold is no longer backing the US currency, there is no Constitutional authority for confiscation of either mining shares nor private bounties.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top