Marketwatch

[rsk1963]

grab your rally caps we've hit mainstream.

http://www.marketwatch.com/story/how-to-make-sense-of-the-gold-to-silver-ratio-2011-07-19

[mtalbot_ca]

Do you believe that gold could actually be confiscated?

[rsk1963]

That is an interesting sidenote to the story.

Long and the short, it's happened before, is it out of the question that it could happen again?

That being said, I think that while it is unlikely, for the short term (at least), it is not out of the realms of possiblity down the line.

Who's to say that there could be a silver confiscation for that matter? again unlikely, but not out of the realms of possibilty.

The fed's do what they want (right or wrong), and we have little directional say (as it stands) as to where we go. You can plead with the crew on a ship all you want about going this way or that, they don't have to listen though.

[NHsorter]

Besides the safe deposit box thing, what else did the govt do to confiscate the gold. Can anyone enlighten us on this subject? Could this really happen again?

[shinnosuke]

Do you believe that gold could actually be confiscated?

Webster's Dictionary
inch: one hundred times the distance you should trust government to do the right thing

[rsk1963]

Webster's Dictionary
inch: one hundred times the distance you should trust government to do the right thing

to make life easier...

http://en.wikipedia.org/wiki/Executive_Order_6102

Yes, its wiki, but its fair enough for discussion purposes.

[mtalbot_ca]

Aside from gold confiscation to reform the banking system and re-establish some sort of order in the house, what are the other choices. From the link given, I had the sense that it was to counteract the sluggish effet that hoarding gold (and not spending it) had on the economy. On the other hand I suppose that a balancing act between new taxes, cutting into the governement programs and subsidies could be attempted but it would have for immediate effect of slowing the economy.

One of my old teacher once told me, that the best way for a governmenr to eliminate debt is inflation. If that is the weapon (double-edge-one) chosen, then the best remedy is gold. You thoughts?

[rsk1963]

The same could be said for the gov to eat up all the billionares in the US to elimnate debt.

It's a cop-out.

Rather than getting down to business and reforming the system, they choose to take an easier approach to things and slaughter the cows and chickens that provide milk/cheese/eggs. And still operate with a defunct system.

Rather than confiscating precious metals, which (at least thoretically) are not money, according to Ben. Make the hard adjustments, to how the current fiat system works that are necessary i.e. balanced budgets through cutting pork and other frivelous spending programs, raising taxes.

Yes, it sucks.

But when you become unemployeed don't you suck it up and do what is necessary to survive (not through theft, lets be clear that's what it is that'll just put you in jail) but by taking a lower income job/spending cuts i.e. cable t.v. down grade car or cell phone plan, you make the same hard choices necessary to make it, why shouldnt the Gov be held to the same standards?

[neilgin1]

Do you believe that gold could actually be confiscated?

yes. Silver as well. \

and not so much confiscated, but laws put on the books that make and frame private ownership illegal...and frame this desire to privately own PM's as something unpatriotic, and "hurting the nation".

remember now, that the vast majority of our countrymen regard PM ownership as something "tin foil hat guys" do, its something "weird", that they cant understand the mindset of such, dont understand the diff between hard and soft money, thus artfully guided by TPTB to regard hard money advocates as "part of the problem".

think about it, most people carry plastic cards, very few FRN's and feel secure. It's insane.

you know it, i know it and we know it, but the vast majority of Americans would regard posts on this very forum, and the dealings of folks on this forum as "insane".

if history has shown us anything, its that they love to kill mavericks, and if you are a hard money devotee, you are way ahead of the curve, and you are a maverick.

so here's what i say: i dont own any silver, and anybody sez otherwise is a damn liar. i just like to TALK about owning silver, or copper or nickel. its just talk.

[Mossy]

They got away with outlawing gold once, but, according to what I've read, they did not actually seize any gold, just ordered the banks to take it out of circulation whenever it came into the bank.

They may well try some sort of repeat with gold and silver. Ben hurt his case if the fedgov tries, by saying that "gold is not money". What other metals could they outlaw? Lead, cadmium, and other poisoness metals, perhaps, on the basis of public health, but what basis for gold and silver?

[Kurr]

Just wait till they say that for what ever reason it seems that the drug cartels are trading drugs/guns for gold instead of cash to make smuggling illegal funds easier and to assist in funding "terrorism" and BOOM, they have a reason to outlaw pm's based on non economic data.

It's for the children, ya know. And our freedoms. They hate us for our freedom to do as we're told.

[Mossy]

Just wait till they say that for what ever reason it seems that the drug cartels are trading drugs/guns for gold instead of cash to make smuggling illegal funds easier and to assist in funding "terrorism" and BOOM, they have a reason to outlaw pm's based on non economic data.

Point.

[cuag]

Maybe I am in fantasy land, but I think the gubmint is not going to be interested in confiscating gold and silver when they are making a killing selling numismatic versions of AGEs, AGEs, silver proof sets, silver commemorative dollars, and 3" silver hockey pucks. Of course, the more pessimatic minded and conspiracy leaning folk could view this as the ultimate "gotcha" by the gubmint, steal our FRNs by selling us numis, then steal it back for bullion. I think when the economy gets to that point I am going to have alot more to worry about than PM confiscation, like am I going to have to trade toilet paper and bullets for eggs and steak? For our country or any other to go back to a PM backed currency, it is going to take a Matrix style "reset" of our financial system, all electronic debts and assets go to $0.