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Newmont Mining Corporation Message Board

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  • salipenta salipenta Dec 7, 2002 5:45 PM Flag

    World currency

    >>In addition in the 1930's Americans who did not turn in their Gold were suddenly considered criminals. The rules change at the whim of the government. <<

    So true. What happens if they bring back the confiscation laws? Always worries me that in this technology age the govt can get records from any gold dealer (such as tulving, austin coins etc) and at least get names and addresses.

    Does it therefore make sense to stick with numismatic rare coins, which at the moment are not confiscatable? Is the heavy premium worht it? Interested in any opinions out there.

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    • <Does it therefore make sense to stick with numismatic rare coins, which at the moment are not confiscatable? Is the heavy premium worht it? Interested in any opinions out there. >

      I think in today's world, that confiscation trick will be a little tough. That just may be enough to find those tall trees and short ropes. The odds are not in the Governments favor. 300 million to what?? And we are all armed thanks to our forefathers. I don't think they have forgetten that. From what I have heard, they can not even collect taxes anylonger. Who was that lady that said-"Let them eat cake? "

    • <<Does it therefore make sense to stick with numismatic rare coins,
      which at the moment are not confiscatable?>>

      You'll go nuts trying to figure out exactly what they may try to confiscate. The short answer: whatever they want.

    • Others have provided similar opinions, but I suppose I should take a turn.
      When the government confiscated gold in early 1934, the world was on the gold standard. The government needed gold to prevent a paper currency collapse. Even with confiscation, the dollar was devalued by 41%. (Maybe everyone didn't turn in their gold.)
      Today, absent the gold standard, there is no reason for the government to confiscate gold.
      Of course, they can confiscate anything they want, but my guess is the most likely thing they would seize would be guns.

      • 3 Replies to taopraxis
      • You make an excellent point. Thank you. They seemingly no longer need gold when they can print greenbacks and back it with hot air.

      • Taopraxis. Perhaps the takeover of gold would be in the order of (1)Life,.(2)Guns and then .(3)Gold/Property by barbaric looting similar to the Mongol takeover of the Middle East in days of yore,.. or in more recent times the Commie Revolutions of Russia, China and Nazis Germany... or even more recently in the takeover of Israel in 1948 by the ZioCommieNazis,.(a second Crusade of sorts).. But if we can excape with our lives and even some loved ones we might get to take our bullion along into a new world for us... the Canadian Arctic?

        However, should we choose not the life of outcasts we might welcome the ZioNazi movement and take a position beside Lucifer and his NWDO. (New World Disorder)

        Perhaps it's not worth living anymore so we stash the gold providing treasure maps for surviving relatives that they might find it and rebuild the family legacy when civilization is finally revived..

        For those favoring a more direct approach the required action is Fix it Now!. But some say we can't fix something if it ain't broke or some see and say we understand not the technology or have not spare parts.. Can we find the magic sword Excaliber shining upon our faces should we open our eyes and if we see do we then have the resolve to clutch it into our hands and tarry boldly forth into the den of the dragon?

        HS..

      • Reasoning logically, if the Feds decided to confiscate gold, would they also take silver? Platinum? Palladium? Diamonds? Etc?
        As one can readily see, absent the gold standard, there is no advantage for the Feds to play the confiscation game. They would simply drive people into other stores of value.

        I, for one, never worry about this. You should worry more about the more mundane issues such as loss or theft.
        Paper gold is not the way to go, though, in my opinion. Paper gold is an oxymoron, as people holding U.S. Gold Bonds found out in 1934.

 
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