Europe’s debtors must pawn their gold for Eurobond Redemption …
Southern Europe’s debtor states must pledge their gold reserves and
national treasure as collateral under a !2.3 trillion stabilisation plan
gaining momentum in Germany. – UK Telegraph (5/29/12)
It’s possible that the Basel Committee agrees to banks using gold as
Tier 1 Capital, which would create substantial demand for physical
bullion … Globally, central banks cannot afford to find themselves in
competition with their banks over gold. Just as citizens’ gold remains
vulnerable to the confiscation of gold, so commercial bank holdings of
gold would be equally vulnerable. – Bullion Vault (5/4/12)
Silver Duder You make a good point regarding gold confiscation.
the governments, including ours, looking for ways to force registration of gold purchases, pursue various means of discovery as to who has gold. This might involve the soft tyranny of moral suasion, telling the people to bring their gold in because ‘it’s for the good of the country’ Turkey is trying that. Taxing transactions can provide the authorities with information as who is buying gold. India tried that. A note on the internet reported that some cities, Joplin to mention one, want to regulate, force or coerce (are they any different/) coin shops to take photos of the inventory in transactions and upload them to a ‘central’ data base. Who might that be shared with?
Since so few people own gold, managing the data base of gold owners would be relatively easy. Anyone of a suspicious nature would be wise to regard the authorities and their manipulations of public opinion about gold ownership with considerable concern. The attempt to regulate and thus open the doorway to confiscation is a very short and slippery slope. FDR’s Excutive Order forcing confiscation of gold in 1934 is likely still on the books. The nice thing about gold is that you can store 720 coins in their convenient ballistic tubes in one 50 cal ammo can. That comes to over $1,000,000 in gold.
Horny Dog – The weather gets really mean out there on that lake, doesn’t it? I lost all my precious metals and all my guns and ammo out there in the very same spot! I had to swim to shore and hitchhike a ride home. Oh well, S*** happens…
It seems confiscation of gold or silver would get quite messy. The PR could become a nightmare for the government. Unless they have found a way to extract the bullion out of homes in a very private manner, confiscation is highly unlikely.
Back in the 1930′s people were much more trusting of the government and FDR was seen as a savior. The internet of the period was the radio and FDR’s speeches were very compelling. Dissenting voices were unheard.
The people who trusted FDR on his reasoning for gold confiscation found that the FIAT they received was soon worth 40% less as FDR devalued the US dollar by creating a large price increase in gold. Gold was marked to market and the dollar plunged in value. Today the people who now own gold own it for very specific reasons, having a natural distrust of the government and its aggressive currency debasement.
People who own gold are naturally suspicious of all things government. Attached to every gold coin is a a legally required warning that ownership of the coin can be hazardous to the government’s health. Knowing that fact means you are aware of the risk of confiscation. I would make a guess that sometime in the future a president will issue another executive order saying that possession of bullion is an act of financial ter…..ism. That ammo can of gold will look better and better all the time
" Store a radio in a steel container, make sure to bubble wrap it for insulation. Stick it in the attic, garage, wherever as a spare in case of confiscation. I have an old Drake tube rig I am restoring that will be mostly EMP proof "Reply To: Ham radio
" Nice Shootin' TEX!
I am thinking avoid the ASE's (I have some) as they are prolly tracked by Big Bro... at least the bulk purchases, as I started out with. But that went down in Lake Monroe, stupid of me to take the stack with me on vacation! You are best off buying with cash, and junk is usua... "Reply To: EBAY: ASE's at 40% PREMIUM
Call it a Petit Mal, mild stroke, or just a temporary lapse of sanity, but I went against my junk coin roots last night. Earlier, I had stated my preference for junk. This remains true to this day, but last night I purchase some silver from Apmex that in no way can be considered junk:
... "Reply To: EBAY: ASE's at 40% PREMIUM
" I feel ya Mary. My average buying cost is around $30....Although as you said, I still believe in all the fundamentals, and where silver SHOULD be, its hard not to get discouraged at WHERE IT ACTUALLY IS!
"200 years from now your silver will still be valuable."
Statements like this absolutel... "Reply To: My Faith in Silver is Just About Broken
" LOL, it was a free non sanctioned test. Just wanted to see how much I already knew. Learning curve should be a piece of cake.
Things I have been wondering though are whether the gov would shut down those frequencies in a SHTF scenario. No point in heading in that direction if it's a lost ca... "Reply To: Ham radio
" The error I see stackers making is the value of their stash in fiat. Fiat that is rapidly losing any purchasing power and is losing its usefulness. Price your stack in real world goods to see how you are doing. $4 silver years ago bought 8-16 gallons of gas, $21 silver still buys 8 gallons of gas... "Reply To: My Faith in Silver is Just About Broken
" There are many ways to view this one way is insurance, you pay for policies don't you? I hope my home never get blown away in a storm but if it does I have a policy to cover it. I like insurance, it's not always cheap but I sleep better at night knowing I have it. "Reply To: My Faith in Silver is Just About Broken
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