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    Gold and Silver Confiscation “Unlikely”

    Mac Slavo
    April 25th, 2011
    SHTFplan.com
    Comments (57)
    Read by 510 people

    Echoing the views of other well known precious metals analysts like the late Howard Katz, Jason Hommel, and Jerry Western, economist Alasdair Macleod says that while the possibility exists, confiscatory gold policies similar to those enacted by Franklin Roosevelt during the great depression are improbable because of the way gold is used today and the sheer complexity of taking such an action in today’s globally driven gold marketplace:

    …the situation today is very different from that of 78 years ago. At that time, gold was the primary currency, the dollar being tied to it at $20.67 per ounce. But today, the Fed and European central banks strongly deny that gold has any monetary role at all, and argue instead that it’s just a hangover from the past: “that barbarous relic” as Keynes called it. Its confiscation would be an embarrassing admission that gold, after all, is money.

    Nevertheless, as paper currencies continue to lose credibility, the temptation for any government to seize its citizens’ gold to enhance official holdings must be growing. Americans today, however, are unlikely to meekly accept confiscation the way they did under Roosevelt. And nowadays, you may be American, but your gold is not necessarily held at an American bank: it is just as likely to be in London, Zurich or Hong Kong.

    The wording of a compulsory order is all-important. Confiscation requires the gold itself to be surrendered, which presumably would be the objective if a government is to add to official holdings. If gold ownership is merely banned, it is a different matter. A bullion bank holding gold in an unallocated account would almost certainly be unable to deliver physical gold if required to do so by the American government, but it would be able to close out the account for cash. And there is the thorny question of derivatives, which hardly existed in the 1930s. All futures and options trading would cease, and contracts for forward delivery would be cancelled, possibly with serious financial consequences.

    The international nature of gold would probably require all G10 or even G20 members to agree to similar actions against their own citizens. It seems unlikely that all governments would agree to this, unless they all had their backs hard against the wall.

    Source: Gold Money Op-Ed via FinanceAndEconomics.org

    Mr. Macleod suggests that even if gold were to come under attack, silver is held in greater volumes and by more people, making it a less likely candidate for confiscatory actions.

    Howard Katz, well respected for his economic analysis, made a similar argument for why the government coming after your gold is not a very likely scenario:

    Quite frankly, it is unlikely that a modern government would do the same thing for the simple reason that they do not need to. We are already off the gold standard. Remember that paper money is theft. There is always a group (the paper aristocracy) who wants to steal wealth from the people by arranging things so that they are the beneficiaries of the printing of money. Now the paper money system is well established and firmly in place. There is no need for measures which will alarm the general public. At the present time, it is only the gold bugs who realize the evil of paper money and who are acting to protect themselves. But we gold bugs are only a small minority. (Notice that the one time that both prices and pro-gold sentiment were increasing sharply, 1979, the establishment turned off the money spigot and suffered through a period of tight money and credit (1979-81) in order to prevent the gold bugs from becoming more popular.)

    So you do not need to worry about the Government stealing your gold. They don’t need to. They already steal the wealth of the naive (anti-gold) majority. This majority believes their lie that the Government is robbing from the rich to give to them. They keep getting poorer and poorer, and they can’t figure out why. And they keep re-electing the politicians who victimize them.

    Jason Hommel of Silver Stock Report responded to earlier rumors that confiscation of gold would take place when the precious metals touches $2000 in a February 28, 2011 article, providing a similar take to Mr. Macleod’s, especially with regard to talk of silver confiscation:

    If the USA confiscated silver, they would only get about 1% of the people’s silver anyway, or less than $200 million, that’s how much was voluntarily turned in during the last confiscation.

    The US government can’t confiscate silver!   Why not?  Because the people are not using silver as units of account in their bank accounts!

    Confiscation makes no sense today.

    Source: Silver Stock Report

    Likewise, Jerry Western, author of Got Gold? Get Gold!, doesn’t subscribe to the idea that a specific directive will be enacted to confiscate physical holdings of precious metals:

    So, will it happen again? I’d have to say overtly, probably not. Never say never, but I believe that covertly it has already begun.

    …there’s the matter of gold and silver Exchange Traded Funds. Many of these funds, including the largest, are thought by many informed individuals, not to hold the metal they are purported to. At some point, if they don’t have the metal, they will default on their obligations to shareholders. Those shareholders who thought they owned gold will not…They will have had their gold taken from them. Confiscated.

    The final implementation of confiscation will probably be in the form of confiscatory taxes. If taxes rise to 90% on any profit I must report, then it will be discouraging and not worth the effort to hold the metal.

    Given how our government has behaved thus far, it is much less likely that gold will be confiscated in physical form, and much more likely that “confiscation” will be covert, as has been suggested.

    Of course, as Mr. Macleod pointed out, it is possible (though a low probability event), especially if most of the G10 / G20 nations have their backs to the wall and the monetary system of the world starts falling apart. If such an event were to play out, we have no doubt that the value of gold would be astronomical compared to today’s prices and purchasing power – thus even in the worst case, you’d be sitting on extremely valuable assets.

    For those concerned with the unlikely possibility of confiscatory action by government we continue to recommend, as we have done previously, that you obtain a shovel – and dig deep. Confiscation is a purely speculative proposition at this time, and we strongly believe that gold and silver remain some of the best investment assets in today’s uncertain world.

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    Author: Mac Slavo
    Views: Read by 510 people
    Date: April 25th, 2011
    Website: www.SHTFplan.com

    Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats.

     

    57 Comments...

    Vote: Click here to vote for SHTF Plan as a Top Prepper Web Site
    1. laura m. says:

      Under a martial law style dictatorship (fascist)  they can do anything they want incl taking guns, property, etc.   No way to know exactly what they’ll take and do to those who refuse to follow the NWO agenda.  Foreign troops can be used.   PM’s probably would be outlawed eventually as everything will go to a debit system.   This info is from several experts on the NWO I’ve heard/read their info. for many years.

      Rate This Comment: Thumb up 0 Thumb down 0

    2. Pedro says:

      Comments….. Don’t worry about the fact that in “Obama Care” that the legislation gives the ” Feds” the right to CONFISCATE OUR GOLD! Komrades stock up on guns & ammo!

      Rate This Comment: Thumb up 0 Thumb down 0

    3. sittinguy says:

      Sittinguys prediction,, $5000 gold, $400 silver, in less than 5 years.
       
      Bring It!  :)

      Rate This Comment: Thumb up 0 Thumb down 0

    4. SmokinOkie says:

      All the gold,    in california,    is in a bank in the middle of beverly hills,    in somebody elses name.   You people are missing the main point: what the gov is gonna confiscate is……..SHOVELS!

      Rate This Comment: Thumb up 0 Thumb down 0

    5. Goldenfoxx says:

      Comments….. There’s no doubt in my mind that the .gov will confiscate anything and everything it can used for the good of the nation.  That includes food and ammo.  Pay cash for everything now as there is no record for them to go after you.  Don’t buy clothing at WalMart as they have embedded RFID’s (for inventory purpose) that can track you.

      Rate This Comment: Thumb up 0 Thumb down 0

    6. LocalHero says:

      Gold was confiscated because we were in bankruptcy (for the 3rd time), & the bankers demanded it as our (the US corporation) creditors. They did it once & they can do it again since we are still in bankruptcy.

      Rate This Comment: Thumb up 0 Thumb down 0

    7. TJefferson says:

      The US is already confiscating your gold with the BS 28% “collectibles tax”. How are we letting them get away with this? They don’t charge a collectibles tax on your checking account with fiat money, we shouldn’t let them tax us on our real money. REVOLUTION!!

      Rate This Comment: Thumb up 0 Thumb down 0

    8. PO'dpatriot says:

      Comments…..You all can use your shovels to bury your pm’s if you want to, mine will be used for the bodies, and if Im too tired, they’ll go in the compost pile or the hog lot.

      Rate This Comment: Thumb up 0 Thumb down 0

    9. Prepper says:

      70% of US dollars are held offshore. If the US government starts whispering that gold or silver confiscation is even being considered, it will set in motion the fastest, sharpest, and deepest decline in the dollar the world has ever seen. Why? Because confiscation can only mean one thing: it is undeniable proof extremely bad things are going to happen to foreign governments who hold dollars.  And they will get the idea all at once they better dump the trash before before everyone else does. Rumors of confiscation will bring about the exact thing the government is trying to avoid.  Even if you regard the guardians of our currency as bunch of clueless idiots, even THEY know the inevitable global reaction to an announced confiscation plan. I’m not going to claim converting FRNs to precious metal is devoid of risk, but of all the risks, the threat of confiscation is the easiest to brush aside. If you feel compelled to worry about something, there’s always hyperinflation, oppressive taxation, no food in the supermarkets, civil unrest, FEMA concentration camps, suspension of the US Constitution, the few survivors become slaves to the NWO, etc. 

      Sittin Guy: I think your crystal ball is dead-on accurate. Gotta get me one of them.

      Rate This Comment: Thumb up 0 Thumb down 0

    10. OBAMA WHITE HOUSE: A DIV. OF GOLDMAN SACHS

      Rate This Comment: Thumb up 0 Thumb down 0

    11. thedude says:

      Prepper:  the US Constitution hasn’t been suspended?  Cool.  Wait.  If I think of the part above about “covert” gold confiscation and apply that to the US Constitution, then all that is left is an official announcement of such event, which has already occurred.  One less thing to worry about.

      Rate This Comment: Thumb up 0 Thumb down 0

    12. Bill says:

      They didn’t confiscate gold and/or silver, they make it illegal to own.  Big difference…….

      Rate This Comment: Thumb up 0 Thumb down 0

    13. caryn says:

      Comments…..i personally do not own nor can i afford to buy gold or silver. guess i willjust have to be like my confederate ancestors and bury the tea set and silverware some where out in the barnyard. and i guess i will have to build a secret room for my food provisions.

      Rate This Comment: Thumb up 0 Thumb down 0

    14. TnAndy says:

      “The final implementation of confiscation will probably be in the form of confiscatory taxes. If taxes rise to 90% on any profit I must report, then it will be discouraging and not worth the effort to hold the metal.”
      Or, as happens anytime govts try this, it moves underground.
       
       

      Rate This Comment: Thumb up 0 Thumb down 0

    15. BAB{BULL}LINGON} says:

      Comments…..THe more mexican and arabs they kill the less people i have to feed i am an american farmer and i will say it again and again and again

      Rate This Comment: Thumb up 0 Thumb down 0

    16. I sent Bob Chapman an email about buying silver temporarily and from the email back I don’t think he understood fully what I was asking, so I thought I’d try here.
      I finally have a few bucks for some preps but am not sure exactly how to allocate it all just yet. I have certain requirements I need to meet and I am trying to strategize this all to my best advantage and until I have made a final decision on a few things I was wondering about sinking the money into silver (physical in hand) until I get it figured out and then sell the silver back to get dollars to make purchase…can I sell back on short notice when I have made decision on what I am buying or if I see all the sudden silver diving down? And if so how do you go about doing this?
       
      Thanks guys

      Rate This Comment: Thumb up 0 Thumb down 0

    17. samnjoeysgrama says:

      I think it more likely the nice government men will take over all the IRAs and 401Ks to protect us from making “bad investments”.  These will be changed into GRAs, government retirement accounts.  Obama has actually refered to them when he addressed Congress.  Much of my gold is in my traditional IRA.  So, yes, they will confiscate gold, silver, stock, pretty much everything.  “Hey, you!  Watcha got in your pockets?  Give it here or I break your knees.”  I wonder, if it looks like Obama will loose the election, will they manufacture some huge emergency so the elections need to be “postponed” for a year, or two, or twelve?  I wouldn’t put anything past them at this point.

      Rate This Comment: Thumb up 0 Thumb down 0

    18. JANE says:

      Each country wants their citizens to buy precious metals, so other countries/foreigners can’t obtain them.  All countries are competing and buying precious metals right now as in the news.  The bankers want you to pull gold out of china and middle eastern countries.
      From its citizens, the government can confiscate any time or at the time the gold is very cheap.

      Rate This Comment: Thumb up 0 Thumb down 0

    19. JANE says:

      So that’s why people are afraid.  We’re DOOMED either way, because the dollar will loose its value fast, and you will not be allowed to keep precious metals if the new money system is based on a gold and silver standard.


      They try to convince us gold is the real money, but you are not allowed to keep it. So what good does it do you?

      Or maybe none of this will happen and we will all live happily ever after, and the bankers will make sure of it.
       

      Rate This Comment: Thumb up 0 Thumb down 0

    20. BAB}BULL}LINGON} says:

      Comments…..what you are not listening i own the land that feeds you i worry that there are no earthworrms left in the soil you worry about silver and gold better start worrying about food dumb fu%ks

      Rate This Comment: Thumb up 1 Thumb down 0

    21. JANE says:

       
       1.    George Soros also said gold will be a bubble.
      2.   We can see the pattern from the past.  With the prices of gold and silver increasing at such a rapid rate, it appears there will soon be a burst of the bubble.  Just like others such as:
      -         the precious metals (1980) 
      -         the dot com bubble (2000)  
      -         the housing market bubble, etc…..
      3.   The government can track down people for not turning gold & silver in (if it’s confiscated) under the new tax law effective Jan 01, 2012.  This law requires you to fill out a personal information form if you sell precious metals for $600 or more.
      4.   In the past people could move overseas with their gold, now you can’t, because of the TSA and other rulings.
      5.   Buying precious metals stock is even worse, because you don’t know if the mine has gold or not or if it is just doing expletory mining.  Or perhaps the big investors are the ones getting the metals and you end up with the useless dollars again or even less than what you paid.
      6.   Some specialists say since we are currently not on the gold standard, it’s more beneficial for the Fed to print and print whatever they want, why should they want to go back on the gold standard???  That’s a very naïve argument.  The gold confiscation was under FDR, but the currency was later on taken off the gold standard.   
      can the people stop the Fed’s actions? – NO b.      can the people stop the Fed from printing money like crazy? –  NO
      c.  can the people stop it, if the Fed decides to go back to the fiat standard? – NO

      Rate This Comment: Thumb up 0 Thumb down 0

    22. BAB{BULL}LINGON} says:

      Comments…..All your wantabes try and eat shit because that is what you will be fighting for I am the powers that be i own the land I am the farmer

      Rate This Comment: Thumb up 0 Thumb down 0

    23. RafterManFMJ says:

      We really cannot know what the “government” which really is nothing more than the sum of us all, including the posters and readers of this fine blog, will do.
      You buy beans and rice, bullets and bongs and try to hide like mice. You know what the government will never, ever bust down your door for? Sweet, crisp, new $10 bills. You can store them in a safety deposit box, or bury them in your yard. Or in your own safe! In times of peril you can exchange them for goods and services, anywhere on Earth!
      Think of that…they are the international language and are accepted almost anywhere. Our host likes to post crazy talk of confiscation of some metals – fact is, owning these metals brands one as a dangerous, wrong-thinking lunatic. You wouldn’t want your neighbor owning a 55 gallon drum of mercury, or a couple of spent fuel rods, would you? The government, IE the people, merely want you to stop with your crazy actions that do no more than spread discontent, fear, and in fact impoverish the children. Money spent on gold and silver cannot buy food and goods for the children – so it is abuse.
      You should put your excess cash into US Federal Reserve Notes, generally in the form of crisp, new, uncirculated $10 bills.
      The government is of, by and for the people and serves your needs. All this talk of inflation, hyper-inflation and buying barbaric metals like gold and silver is simply crazy-talk and borderline sedition.
      Crisp, un-circulated $10 bills are your statement of faith in your government, which means in your nation’s people, which means in yourself and family. Do you not believe in yourself? If you do, the choice is as many stacks of $10 bills are you can accumulate. My stack grows larger, and it will insulate me against all reversals of fortune.
      Gold and silver will not be confiscated, as they are worthless, barbaric metals. Trust the Federal Reserve, which is a Federal Agency absolutely stuffed with a massive reserve of pallets of $10 bills. I’m looking at a stack of almost 8 crisp, new, un-circulated $10 bills right now, and they give me security and peace, while your blatherings about gold give you nothing but fear and heartache.
      Do I need to start my own blog extolling the pleasure and security of a large pile of scented, crisp, new, un-circulated $10 bills?
      I appeal to all of those who post, and those who lurk here, to tell us of your happy adventures with $10 FRNs and how your pile, your own reserve keeps you happy and un-fearful of the Fed. Post with your own stories!

      Rate This Comment: Thumb up 0 Thumb down 1

    24. BAB{BULL}LINGON} says:

      Comments…..I aqm the powers that be and we are putting our foot down no mor efree ride on food pay up you lowlife  muthrfu@rs we have been shit on for to mqany years now its our turn to take over the USA we are the land owners we will be a lot better than the aqssholes that think they own you now bow down to the american farmer servere us well we will take care of you

      Rate This Comment: Thumb up 0 Thumb down 1

    25. Airborne71 says:

      The feds don’t have to take anything , all they have to do is make any transactionn using gold or silver an illegal act . If you can’t buy or pay debts with it , whyn have it ?

      Rate This Comment: Thumb up 0 Thumb down 0

    26. Noel Falconer says:

      Comments…..’It seems unlikely that all governments would agree to this, unless they all had their backs hard against the wall.’   So confiscation will happen only in the exact situation they are blundering us into!
      Governments – ALL governments, yours and mine most surely included – are power elites hellbent on retaining power.   Stealing whatever resources their citizens have managed to keep out of their clutches is a means to this end.
      Worry!

      Rate This Comment: Thumb up 0 Thumb down 0

    27. Anonymous says:

      BJ: Check out http://www.silverstackers.com
      There is always someone in there willing to buy or sell you silver at short notice. I posted that I wanted to sell something and got answers in a few minutes. It’s a good place to ask experienced silver stackers anything you like about silver, and its a fairly friendly atmosphere too. :)

      Rate This Comment: Thumb up 0 Thumb down 0

    28. Suzy says:

      BJ: Check out http://www.silverstackers.com
      There is always someone in there willing to buy or sell you silver at short notice. I posted that I wanted to sell something and got answers in a few minutes. It’s a good place to ask experienced silver stackers anything you like about silver, and its a fairly friendly atmosphere too. :)

      Rate This Comment: Thumb up 0 Thumb down 0

    29. PO'd patriot says:

      Comments….. HEY BABS THE FARMER! Your brakes on your left tractor tire is apparently locked up and you’re disking in circles causing your dizzines.
      Get out of the turnrows, and pay attention to your gps, dumbass!

      Rate This Comment: Thumb up 0 Thumb down 0

    30. thanks Suzy, I appreciate the link  :-)

      Rate This Comment: Thumb up 0 Thumb down 0

    31. rachel says:

      the majority of americans seem to forget one thing. that 97% of all the monies is in digital form.

      they didn’t have comuters that instantly transferred monies between accounts back then. yes, there was fractional banking but it was nowhere’s the mess we got now.

      about 20+ years ago I had this wierd dream. In the dream I was standing in the local town hall. people were bringing in bucket loads of coins.

      when I asked one lady why she was bringing in a bucket load of coins to be wieghed she told me she got more for the mony that way. I couldn’t understand her logic. How could she get more for the wieght of the coins then for the face value?

      with precious metals all going up the copper and nickel in those coins will be worth more as well.

      just imaigine a cyber attack that wiped out most of the digital currency. only 3% of currency was avaible. actual silver and gold would make you an instant millionare. We would be back to bartering.

      Rate This Comment: Thumb up 0 Thumb down 0

    32. Anonymous says:

      Thanks PO’d Patriot.  You beat me to it.

      Rate This Comment: Thumb up 0 Thumb down 0

    33. Man Up says:

      With all the ETF’s and investment vehicles and the fact that we are now in a WORLD ECONOMY it would be nearly impossible for the government to confiscate gold.

      What will happen instead is a HUGE capital gain tax on all precious metal sales. That will be the roundabout way the government will confiscate your store of wealth. No difference than inflation confiscating your savings!    
       

      Rate This Comment: Thumb up 0 Thumb down 0

    34. kevin says:

      Comments….. I was taught at public school fdr was our greatest president, in 50 years they will be teaching the little ones childrens children that oboma is our greatest president! God bless Andrew Jackson, God help usa!

      Rate This Comment: Thumb up 0 Thumb down 0

    35. Suzy says:

      I agree. I have an Andrew Jackson silver round, and I’m an Australian.

      Rate This Comment: Thumb up 0 Thumb down 0

    36. AZ Ready says:

      @RafterManFMJ… Thank you thank you thank you!!! You were right! I took your advice and bought a stack of crisp, uncirculated $10 bills and I feel great! OMG I should have done this sooner. Warm fuzzies. I may even become a liberal over this. And it’s great to know that the Fed feels the same way that they will print as many as needed so my friends can do the same. What a country!

      Come on guys, give it a try. You won’t regret it, just ask the Fed!

      Rate This Comment: Thumb up 0 Thumb down 0

    37. sanityjones says:

      “They” will confiscate your gold/silver; When the rug gets pulled out from under the PM market everyone who put all of their eggs in this particular basket will have effectively been robbed of their wealth. FRN’s make the world go around, no one (politically) is interested in confiscating your physical gold.

      Rate This Comment: Thumb up 0 Thumb down 0

    38. James Woroble Jr says:

      With today’s technologically sophisticated bureaucracy the scumbag(Z) need not be so obvious and assure the wrath of the public utilizing such Bronze Age tactics and nomenclature as ‘confiscation’.
      They will use the ‘Orwellian’ language model and accomplish their aims through a ‘back door’ as they have with horrendous taxation via inflation. They will confiscate through taxation, legislating a 90% tax on precious metals gains. They done it before;
       
      ‘In 1932 the top marginal tax rate was increased to 63% during the Great Depression and steadily increased, reaching 94% (on all income over $200,000) in 1945. During World War II, Congress introduced payroll withholding and quarterly tax payments.
      Top marginal tax rates stayed near or above 90% until 1964 when the top marginal tax rate was lowered to 70%. The top marginal tax rate was lowered to 50% in 1982 and eventually to 28% in 1988. It slowly increased to 39.6% in 2000, then was reduced to 35% for the period 2003 through 2010.’
      SOURCE: Taxation history of the United States
      http://en.wikipedia.org/wiki/Taxation_history_of_the_United_States
       
      They’ll do it again!
       
      —-
       
      Can you feel the cold, lubricated, sparking tip of the IRS cattle prod?
       
      SNEAKY POLITICIANS NOW TRACKING $600 SALES OF PRECIOUS METALS
      http://www.godlikeproductions.com/forum1/message1365815/pg1
       

      Rate This Comment: Thumb up 0 Thumb down 0

    39. Prepper says:

      Rachel, you said: 
      Just imagine a cyber attack that wiped out most of the digital currency. Only 3% of currency was available. and actual silver and gold would make you an instant millionare. We would be back to bartering.

      Rachel, this is extremely wise and insightful advice. In addition to a cyber attack, I can envision a day when the dollar loses its status as the reserve currency of the world, OPEC refuses to accept dollars in exchange for oil, and the major holders of US treasury debt trade FRNs for mountains of precious metal because it’s the only true store of value.

      In that scenario no cyber attack is necessary, but the resulting precipitous loss of the value of dollar is the same, and the wisdom of moving wealth into PMs is the same. I know people who have sold everything, and bought PM which now comprises close to 100% of their net worth. I’m not that extreme. 10% of my total net worth is in PM, 50% is in home equity, and the remaining 40% is in stock or various financial instruments. So if electronic cash instantly vaporizes it will hurt but I will be in less trouble than anyone in the neighborhood. If you spend a few hundred $ on bulk dried food you’re greatly adding to your chance of survival if TSHTF.  Rachel, my goal is not to be a millionaire but I do like your thinking.

      Will this work? If TSHTF, and PM is suddenly the most sought after thing, I go to the nearby dairy preserve and buy a 1000 pound cow for PM, bring it to the local butcher and make a deal. I give you this animal in exchange for vouchers good for half it’s weight in meat, say 500 pounds. Every few days I get enough meat for the family and some friends. I also trade meat vouchers to the local gas station in exchange for several hundred gallons of gas. I then go to the Community Supported Agriculture farm and trade gas vouchers for produce, so the CSA can run their machinery and make local deliveries of produce. When everything runs out I go back to the dairy preserve and start the whole cycle over again.

      OMG, I think I have become a banker! How did THAT happen??

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    40. James Woroble Jr says:

      Keep it in perspective, nouveau ‘millionaires’…
       
      $400.00 silver means a $40.00 loaf of bread and $100.00 for a gallon of gas!
       
      ( your mileage may vary due to genuine supply and demand issues ) :-)
       

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    41. Anonymous says:

      U r write Prepper, it’s called petro dollars.  Most don’t understand it.

      Black market James, stay calm.

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    42. Anonymous says:

      o’bamma took anti-business.

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    43. Anonymous says:

      BAB Cling On, go plant an olive tree and wait for an olive.

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    44. NOYB says:

      The solution is simple.  Pick up a pail full of wheel weights at the tire shop.  Melt and pour into bars.  Paint them gold.  Turn them in during the Patriotic Gold Exchange Days (hurry, before the grace period expires!)
      When the .gov doofus tells you they’re lead bars, pitch a fit and scream about how the a-hole on Craigslist screwed you.
       
       

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    45. Jonny V says:

      J Woroble Jr., Of course, when the tax rates for the rich and ultra-rich were that high, the USA was the worlds biggest CREDITOR.  Now, since the tax rates on the rich and ultra-rich have been reduced much further than your comment (the richest now pay less than 17%), the USA is the worlds biggest DEBTOR.  This has all happened since 1980.  Kind of makes you wish for the Carter years again, you know, back when we “lived within our means” and so on.  NOT that Carter was a good president, it’s just that everything went to shit after he left………  

      This crisis brought to your courtesy of the Republican and Democratic political parties……..

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    46. James Woroble Jr says:

      NOYB

      ” The solution is simple.  Pick up a pail full of wheel weights at the tire shop.  Melt and pour into bars.  Paint them gold.  Turn them in during the Patriotic Gold Exchange Days (hurry, before the grace period expires!)

      When the .gov doofus tells you they’re lead bars, pitch a fit and scream about how the a-hole on Craigslist screwed you.”
       

       
      Although requiring a few ‘tweaks’ in implementation, an excellent concept!
       

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    47. REB says:

      Got many pounds of wheel weights…think Ill keep it and have it ready to give to the govt dufuss a few hundred grains at a time at high velocity! Just sayin”

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    48. Anonymous says:

      Silver fundamentals: 1-Vital for all forms of Solar Energy in an era of Global Warming, 2-Wide range of industrial uses (no substitutes for most of them), 3-Poor Man’s Gold, 4-USGS predicts extreme scarcity by 2020, 5-Carbon tax will limit mine supply, 6-Peak Oil will limit mine supply, 7-Much less of it above ground than gold, so it’s a tiny market that can go ballistic.

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    49. SmokinOkie says:

      Just take those gold bars and melt them and pour into the shape of wheel weights. Paint ‘em gray and you’ll be safe from the confiscators. Problem solved. No need to thank me, I do this as a public service.

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    50. Anonymous says:

      I like the way you think…..  

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    51. What I don’t understand is, if you are holding on to your precious metals yourself, keeping them in a safe place nobody else knows about (except someone you trust in case something happens to you), how are they going to get them? In the ’30′s people were so hopelessly naive that they did what their government told them to (that is one reason why the country is such a mess today) and when they were told their gold was being “borrowed” and they would get it back, they turned it over. Today people will not. SmokinOkie has a good idea, but many own a few tens of thousands of dollars worth of gold and silver which is not enough for wheel weights, but also not enough to have a problem hiding. So, how are the thieves going to get it?

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    52. The dollar is breathing its last. The Federal Reserve is purchasing some 83% of all U.S. Treasury Bills right now. China quit buying them and Japan is offloading them. It’s only a matter of time before that hits the money supply along with all the other digital and physical money printing. The money is losing its value steadily and the real inflation rate is already up over 10%.

      If your money is “in paper”, as in a pension fund or 401K invested in the stock market, you will lose it… period. This could happen as early as this fall. If you take your money out of the stock market and put it in the bank, you will preserve the number of dollars but not the value. The only way to preserve the value of your money is to buy precious metals. After the SHTF and the dust has settled, you can take the metals to your dealer and trade them in for the coin of the realm at whatever rate it is at that point, and then you can go shopping.

      Personally, I just don’t see how the govt could possibly think of trying to hunt people down and confiscate their metals. Too much trouble for too little metal. Easier to nationalize the mines.

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    53. Bill says:

      Hey BJ!  Come up north to Traverse and I’ll help you out with the silver.

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    54. RogerT says:

      Comments…..Er, JonnyV, I hate to burst your Libtard bubble, but statistics show that the upper 5% of earners in this country pay 54
      % of all Federal taxes.  27% of lowest-level American workers don’t even file a tax return.  That’s according to the IRS figures.  Go back to the rest home and wait until next outside privilege day.

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    55. The People’s Bank of China (PBOC), the central bank, announced today that it will issue more gold and silver commemorative coins featuring the giant pandas to meet soaring demands for precious metals!

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    56. The Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States!

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    57. There is an organization run by a man in Dallas and his buddy in Connecticut, who have done great work first in gold, later silver. So why is it they BLACKBALLED “The Silver Stealers?” http://www.silverstealers.net and http://www.nosilvernationalization.org Don’t buy the line “it’s too long,” it’s shorter than the New Testament ministers don’t say “we don’t recommend the NT because it’s too long,” NO it’s a personality clash against me, the “Cinderella,” who works 50 times harder to get 1% as much notice and these limelight hogs are all over each other with flower bouquets. I’m the ONLY one proving exactly who is back of this threat to metals ownership. It isn’t the Government—its “The Pilgrims Society,” a British Crown organization. There WON’T be a nationalization if enough people get word of their existence and their history!

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