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Re: Confiscation of Gold in the Last Depression
ej's written about this. the 40% haircut was aimed at the elites that owned 99% of the gold, not the joe (not sixpack) who had an oz or two. by 1934 the elites had already pocketed all the assets. elect mccain and it'll happen again. elect obama and its fdr in 1930.Originally posted by blazespinnaker View Post -
Re: Confiscation of Gold in the Last Depression
I believe there were 2 exceptions to the executive order: gold held outside of the US and numismatic/semi-numismatic coins. From what I have read, arguments were made that gold coin collections were considered property and the taking thereof would require "just compensation" under the Constitution as in an eminent domain taking. For this reason, the feds backed off.
All the bullion that didn't fall into these categories ended up in Fort Knox.
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Re: Confiscation of Gold in the Last Depression
are they really going to enforce one tiny clause of the constitution this time when they've violated most of the others already in just the first two years of this crisis?Comment
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Re: Confiscation of Gold in the Last Depression
IMHO there will be no gold confiscation.
the intelligensia has spent the last 80 years claiming Gold is insanity.
worthless insanity.
worthless, greedy, stupid insanity that does not pay a dividend.
Heck, even Terry Pratchett was singing the praises of non-gold money in his "Making Money". His worst book ever, IMHO, for that reason alone. As good as "feet of Clay" was (it was brilliant and awesome - nobel prize material), "Making Money" more than made up for it on the downside.
The level of cognitive dissonance required for the non-proles to re-confiscate Gold would make their collective heads explode (watch Cronenberg's "Scanners" for a good visual on this)Last edited by Spartacus; October 24, 2008, 02:42 AM.Comment
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Re: Confiscation of Gold in the Last Depression
Molon labe!Comment
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