Gold or Paper? Interesting site!greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
"It happened under FDR that the government allowed the bankers to steal all your parents money, gold. Our parents put their hard earned money into the banks and when the people started to take it out the bankers got the government to make it illegal to own gold. My ex father in law lived in Half Moon Bay, CA, his father was a justice of the Peace and owner of Half Moon Bay Lumber Co. One day father in law was working in the yard office and found a gold piece, Justice O' the Peace made him turn it into the bank. Didn't want to go to jail or be fined ten thousand $ for OWNING MONEY!"
Check this site out.
-- californiahilljack (email@example.com), March 08, 1999
Only in the land of the free and the brave did this happen....Bardou
-- bardou (firstname.lastname@example.org), March 08, 1999.
CHJ or Bardou or others, Can you explain briefly the government's stated rationale for outlawing ownership of gold. I'm sure it should be obvious to me, but I don't see it right off the bat. Obviously I'd love to be able to trade worthless paper for gold, but surely the government gave a better explanation than that!
-- Puddintame (email@example.com), March 08, 1999.
Your wealthy and the government is poor. The government needs $$$ to keep it's parasitic power afloat. Gold means $$$, confiscate the gold from it's citizens to keep the government afloat. If you do not turn in your gold, you will be arrested and labeled unpatriotic, after all it's for the good of the country. However, we are in a different economy and a different scenario, it is not illegal to own gold or to hold cash or firearms and ammo. You take your pick as to which one you think will hold it's value. A little of each is a good thing.
-- bardou (Bardou@baloney.com), March 08, 1999.
Does it really matter if it's metal or paper if TSHTF. "They" have allready given all financial power to a private institution, that does not pay taxes, and operates outside the constitution. Did you ever in your life own a peice of land or a vehicle? Did you own the piece of land/vehicle or a piece of paper that said you could use it, and that you had to purchase each year from your bank or gov.
-- R. Wright (firstname.lastname@example.org), March 09, 1999.
We are conditioned from infancy to consider currency as money. Currency is a political denominator for calculations and transactions.Real international gold money is both a medium of exchange and a store of value because of its own inherent nature. Our pricing of gold in dollars perpetuates a political fallacy. In Austrian economics of old,dollars were priced in gold. Market pressure in the early thirties threatened dollar depreciation. The "solution" was to confiscate the gold at $20.80 for "the good of the country" and then reprice it on behalf of the peepull at $35.00.Thus, a dollar declined from one twentieth to one thirty fifth of an ounce. Today it is one two hundred and ninetieth of an ounce of gold.All currencies are floating down towards gravity.Currency markets are simply reflecting updrafts,downdrafts,overdrafts and underdrafts. It is a very drafty market because the nonsense of our childhood prevails even amoung most economists and business people. This has been and is presently "politically correct" nonsense. Inevitably, conditions and markets will price the dollar at one, two, three or more thousandths of an ounce of gold. Argentinians and others have seen their past currencies at millionths of an ounce of gold. Their win was wipeout!
-- Watchful (email@example.com), March 09, 1999.
"Meat or Mischief!"
-- Outlander (firstname.lastname@example.org), March 09, 1999.
Watchful thanks for that insightful lesson on gold. Greenspan made no bones about TRYING to keep the price of gold moderated. I think it is evident when the Wallstreet spin team continually berates gold, as a store of value, that its luster scares them to death.
-- Ray (email@example.com), March 09, 1999.