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View Full Version : Another Question about Gold Confiscation


aurel57
10-16-2011, 06:22 AM
First one thing I have been wondering ...how do we know that the confiscation of gold is not going on quietly as we speak? With all the buying of gold on just about every corner in town and thru the mail....just where does all this gold end up? If more keeps coming into the coffers of the government than out going out thru the mint why not keep it up trading dollars for gold with out calling it a confiscation...yet? Not trying to sound like a big conspiracy here but are there any numbers on just how much gold has been turned in thru the cash for gold and where it all ends up?

Also wonder about in the 30's when the US DID confiscate gold what happen to silver? Did the price of silver change when the price of gold was changed up. So was silver a safer choice to hold? I have a nice mix of both but never hear much about silver confiscation?

Fusion
10-16-2011, 08:30 AM
Silver was confiscated when it was taken out of circulation in the US in 1964. Slowly and quietly and peacefully. No SDB raid or jail time, just not printed anymore unless it was on a $1 face value ASE. Hmmm:confused:

Gold Standard
10-16-2011, 09:43 AM
Perhaps it is all a vast government conspiracy. If so it it the first confiscation conducted at market price.

Soon they will need to expand Fort Knox to hold all this new gold.

The gold bug at your local coin shop or "we buy gold" storefront owner may actually be government agents. :eek:

coyotepm
10-16-2011, 09:50 AM
Perhaps it is all a vast government conspiracy. If so it it the first confiscation conducted at market price.

Soon they will need to expand Fort Knox to hold all this new gold.

The gold bug at your local coin shop or "we buy gold" storefront owner may actually be government agents. :eek:

Thanks for the genuine chuckle that you just gave me on this fine Sunday morning... doesn't happen often. :)

aurel57
10-16-2011, 10:53 AM
Perhaps it is all a vast government conspiracy. If so it it the first confiscation conducted at market price.

Soon they will need to expand Fort Knox to hold all this new gold.

The gold bug at your local coin shop or "we buy gold" storefront owner may actually be government agents. :eek:

Not so sure it would be the first time at market price? The way I understand it the government paid the market price back in the 30's and was not till later they raise the price after most sold what gold and gold certificates they had?

I am not saying the storefronts have anything to do with the government, but I am sure other than LCS most don't hold on to any of the gold they are purchasing and I assume they are selling to refiners then they sell to whom? Not even saying its a conspiracy, but it would be a way to get the gold out of a lot of peoples hands... and when I tell people that they should be buying and holding some PM most answers are the same. They are not interested as they think PM have had their run up and cost to much and will not got higher.

SilverBullSpirit
10-16-2011, 12:07 PM
Also wonder about in the 30's when the US DID confiscate gold what happen to silver? Did the price of silver change when the price of gold was changed up. So was silver a safer choice to hold? I have a nice mix of both but never hear much about silver confiscation?

Your silver's safe. Silver was still money in 1933. The price of silver did not rise above face value until three decades later when it was then removed from coinage. The government is so huge today that all our privately held PMs would only keep it going for a few weeks anyway.

HighInBC
10-16-2011, 12:20 PM
Someone offering you money for your gold is not confiscation even if it is the government.

goldhunting
10-16-2011, 09:58 PM
Freedom in America is something that is ...if all is well. If things aren't well, your freedom doesn't mean anything ...we'll draft you and send you to war against your wishes ...yes, and even something like take your gold if need be.

Hey, this isn't the 1930s, this is 2011 ...we can take your gold without confiscation. We know how much you love to eat and bring your new girlfriend to the movies. We can make you so poor you'll go dig up your stash in the yard and sell it. Then like houses after a real estate crash, motion to own them.

Those people in the 1930s were tougher ...starve them, still they weren't going to sell ......You would have to scare them with with ideas of prison, where prison isn't sitting around all day playing spades watching tv like today. You'd be out all day making big rocks into little rocks. That, and that Americans then were much more pro-American.

Imagine this scenario ....President Obama soon gives a speech telling Americans Fort Knox is empty ...that we need everyone's help by turning in their gold. Haha, hardly anyone has any, and if they did, Peanuts4Gold already got it last week and it's already at a Chinese refinery.

We don't have enough gold to fill Fort Knox back up today ...in fact, that whole Fort knox thing really baffles me, because as I know it, there's only about two Olympic size poolfuls of gold that has every been mined in mankind's history. How did such a large portion of it end up in Fort Knox by telling Americans to empty their safe deposit boxes one time in the 1930s?

Mustangmanbob
10-16-2011, 11:31 PM
Watching a refinery in operation in Dallas, this is what I saw (where does the gold go?)

I sold some scrap, and they melted it in front of me, and assayed it. It came out within 1/2 gram (the smallest my scale would go) of my estimates, and they paid 98% of spot at that moment.

There was a continuous stream of old jewelry, etc. coming in and being melted. When it was done, there were all sorts of little metal blobs, smears, tiny bars, etc, all of which had their own assay sheet, as 10K to 24K was being melted down in the same crucibles.

There was also a group buying these gold blobs at 2% (I believe) over spot, based on AGW. They were mostly jewelry makers, starting the cycle all over again.

torpedoman
10-17-2011, 12:14 AM
Someone offering you money for your gold is not confiscation even if it is the government.

don't use logic ,that's not fair ,and destroys the myth of gold confiscation.

cubrock
10-17-2011, 08:59 AM
Someone offering you money for your gold is not confiscation even if it is the government.


It is when you are forced by law to take the money rather than keep the gold. By my reading of the 1933 order, it was confiscation, despite the fact the Federal Reserve paid for it in cash.

http://www.the-privateer.com/1933-gold-confiscation.html