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Zynox · 09-17-2008, 09:40 PM

Confiscation Questions

The exact histories and details of confiscation in Germany and the United States are available online.

http://mises.org/story/3056 ((The Great Gold Robbery of 1933 - US))

"It's been 75 years since the federal government, on the spurious grounds of fighting the Great Depression, ordered the confiscation of all monetary gold from Americans, permitting trivial amounts for ornamental or industrial use."

"A key piece of legislation in this story is the Emergency Banking Act of 1933, which Congress passed on March 9 without having read it and after only the most trivial debate. House Minority Leader Bertrand H. Snell (R-NY) generously conceded that it was "entirely out of the ordinary" to pass legislation that "is not even in print at the time it is offered." Sound like the UnPatriot Act?

I am not able to predict what might transpire in this meltdown, and we are in a fiscal meltdown, globally. Stories I have read about the past 1933 US confiscation was that it was much like with taxes, the program was intended to achieve voluntary compliance through law, threat and fear. I suspect many chose to decline to comply. Each holder of sovereign wealth would need to make their own sovereign decision should they be 'requested' to turn in their metals. Not everyone pays taxes in the US now, especially major corporations, or so I have read recently.

In 1933, the government traded paper dollars at the rate of approximately $21 per gold ounce and then rewrote the government fixed price shorty after to $35 per gold ounce. Sound like a wealth transfer?

"The day after the passage of the Act, President Roosevelt fixed the weight of the Dollar at 15.715 grains of Gold "nine-tenths fine". The Dollar was thereby devalued from $20.67 to one troy ounce of Gold to $35.00 to one troy ounce of Gold - or by 69.3 percent." from:

http://www.the-privateer.com/gold2.html

Namaste!

"Gold can be used in a way that restrains the growth of tyranny, and which thus dramatically improves human well-being."

Glen Allport, from: The Meaning and Value of Gold (( http://www.strike-the-root.com/82/allport/allport2.html ))

__________________________________________________ _______________________________
Please be advised that I am not any form of a professional or paid investment adviser and each individual reading or posting questions or answers is responsible for their own investment decisions.

09-17-2008, 09:40 PM	#8
Zynox Avalon Senior Member Join Date: Sep 2008 Location: Ann Arbor, Michigan Posts: 243	Re: Gold & Silver Q & A Confiscation Questions The exact histories and details of confiscation in Germany and the United States are available online. http://mises.org/story/3056 ((The Great Gold Robbery of 1933 - US)) "It's been 75 years since the federal government, on the spurious grounds of fighting the Great Depression, ordered the confiscation of all monetary gold from Americans, permitting trivial amounts for ornamental or industrial use." "A key piece of legislation in this story is the Emergency Banking Act of 1933, which Congress passed on March 9 without having read it and after only the most trivial debate. House Minority Leader Bertrand H. Snell (R-NY) generously conceded that it was "entirely out of the ordinary" to pass legislation that "is not even in print at the time it is offered." *Sound like the UnPatriot Act?* I am not able to predict what might transpire in this meltdown, and we are in a fiscal meltdown, globally. Stories I have read about the past 1933 US confiscation was that it was much like with taxes, the program was intended to achieve voluntary compliance through law, threat and fear. I suspect many chose to decline to comply. Each holder of sovereign wealth would need to make their own sovereign decision should they be 'requested' to turn in their metals. Not everyone pays taxes in the US now, especially major corporations, or so I have read recently. In 1933, the government traded paper dollars at the rate of approximately $21 per gold ounce and then rewrote the government fixed price shorty after to $35 per gold ounce. *Sound like a wealth transfer?* "The day after the passage of the Act, President Roosevelt fixed the weight of the Dollar at 15.715 grains of Gold "nine-tenths fine". The Dollar was thereby devalued from $20.67 to one troy ounce of Gold to $35.00 to one troy ounce of Gold - or by 69.3 percent." from: http://www.the-privateer.com/gold2.html Namaste! "Gold can be used in a way that restrains the growth of tyranny, and which thus dramatically improves human well-being." Glen Allport, from: The Meaning and Value of Gold (( http://www.strike-the-root.com/82/allport/allport2.html )) __________________________________________________ _______________________________ Please be advised that I am not any form of a professional or paid investment adviser and each individual reading or posting questions or answers is responsible for their own investment decisions. Last edited by Zynox; 09-19-2008 at 06:16 AM.