According to one hedge-fund manager, known for his “doom and gloom” economic outlooks, the federal government may soon make stashing gold away illegal for individuals. Crispen Odey believes that governments will ban the possession of gold if they lose control of inflation of their fiat currency.
Odey says that gold is a great way to protect your wealth from the inflation that central banks won’t be able to control as they continue to print money. “History is filled with examples where rulers have, in moments of crisis, resorted to debasing the coinage,” said Odey, who has raised his gold position in his flagship Odey European fund all the way up to 39.9% as of the beginning of the month from 15.9% at the end of March.
“It is no surprise that people are buying gold. But the authorities may attempt at some point to de-monetize gold, making it illegal to own as a private individual. They will only do this if they feel the need to create a stable unit of account for world trade,” he added according to a report by Market Watch.
Bloomberg News said that the fear of government confiscation of gold is often discussed among serious gold bugs. It happened in the U.S. in 1933. But with major currencies no longer linked to gold, there are no signs such a move is realistically being considered by central banks. However, Bloomberg News is a mainstream media outlet and will say what the powers-that-shouldn’t-be tell them to, so take their opinion with a grain of salt.
With far too many Americans believing the government has the right to confiscate their wealth, it wouldn’t come as a surprise if they attempted this kind of theft. Not enough Americans even question the morality of taxation, let alone confiscation of their morally acquired property.
Does anyone here give a rats ass about what is made illegal? Pretty soon if you are a government goon you won’t have much of a life expectancy.
Entities are quietly buying up every survival supply and resource they can get their hands on.
Gold has always been a store of wealth. When FDR made it a federal crime to own gold. A lot of Americans DID NOT turn in their gold, they just hoarded it. This was brought out after Mr. Nixon made owning gold legal again.
Silver can still be used as legal tender. My Mercury dimes are worth about $1.12 as of close of business last week. They are my barter tools. But, one has to be careful as with the social distancing snitches which are popping up like mushrooms on your lawn; barterers will be fingered by the have-nots, Karens, and Gimmedats.
As things become more and more sporty, COMMODITIES will rule. You cannot eat gold and silver. Make sure your stores of foodstuffs and other needful things can get you and your tribe through months of chaos. Read: THE DAY THE DOLLAR DIED. It is a blogvel on the John Galt Shenandoah blog. It will get your attention immediately. Stay safe. Keep vigilant.
I understand this problem.
But, what will happen if China get this market and keep this kind of operation?
Only currency the founding Fathers put into the Constitution.. Silver and Gold Coinage…How can you ban what the Constitution says you can do? Yes FDR did it, but things have changed since then. Back then Americans trusted the Gov… Today, No they do not..Chicom in America has not helped the Gov ratings either.
They did it before and will do it again. Gold will way underperform silver anyway. Don’t be a moron, buy silver…
I do not know of Americans that believe that the government has a right to confiscate their wealth, but I do know that many Americans believe that the government has a right to confiscate other people’s wealth.
The truth is that civil asset forfeiture has taken place and the truth is that Donald Trump specifically stated that he would like to enforce more civil asset forfeiture.
Trump had his wish granted, when his D.C. hotel was seized by a judge.
The U.S. bashing and glorification of China continues unabated, as well as the never mind the coups and wars that the journalists own countries have not only been actively
“engaged” in, but have raped enormous resources from, and are glossed over in the general context of NATO, which the U.S. does happen to be a member of, but it is always propagandized as U.S. wars and NATO involvement. The U.S. military is a mercenaries for hire racket, The propagandists appear to be actively “engaged” in removing all blame from their own countries more than anything else. Since it is a manipulated version of reality and a half truth, it is fair game to call it propaganda.
Also in this fake peace movement is the glorification of China as a peace loving nation by professors and government officials.
While China has not attacked and started wars with other countries, the truth is that China is an obedience loving nation and as long as its subjects are willing to obey any and all commands, China will remain peaceful. It strikes me as odd that there are foreign professors and former U.S. intelligence officers so Gung Ho on China. It is an extremely censorious country, and has even imprisoned its own citizens merely for tweeting criticsm of the Chinese government. Throughout the West, including in America, our rights are being trampled and seized by governments, corporations, and psychopathic thieves, and yet these highly schooled individuals are placing China on a pedestal!
Their philosophy is free speech for me, but not for thee,
The individuals also fail to overlook that the U.S. has been China’s largest trading partner, and vice versa, and that there are more U.S. manufacturing jobs in China, than there are in America, so knowing full well the way that these same corporations have heavily bribed U.S. politicians, they have in fact heavily bribed Chinese government officials. So we are speaking of the same puppet masters in both countries, with one hand washing the other in a good cop bad cop scenario. They make money on the way to war in America, and in the way to rebulid and refinance in China. It is the equivalent of someone claiming that the left side of their body is a great person, but the right side of their body is a terrible person, or vice versa.
These individuals are without a doubt fascists! No freedom loving person would ever be placing China on a pedestal!
Here is Pepe Escobar on the Belt Road Initiative, with JP Morgan, not Xi Xin Ping, demanding that the “Stans” Uzbekistan, Tajikstan, Turkmenistan, Kurdistan, and Kyrgastan involved in the new silk road SCO Shanghai Cooperation Project. Also noteworthy is the fact that JP Morgan and other big banks are also the largest financiers of nuclear weapons and wars! These U.S. coorporations, banks, and governments have been loyal to money, power, and control, and nothing else! They are undeserving of all three, and they are damn sure as hell undeserving of respect! They are diabolically evil!
The 1933 gold confiscation was accomplished by Executive Order. There was no debate and no notice. It won’t happen under a President Trump. It WILL happen under a President Biden (or God forbid, President Abrams). Refusing to surrender your gold might work if the government doesn’t know you have it. However, given the current complete lack of privacy in the 21st century, is there anything the government doesn’t know about us?
Does anybody ever bother to look at the earlier articles on this site?
Name ONE TIME any of their predictions was correct. Give a link.
That article was also written by “Marc Slavo”. This site is a complete waste of time. It’s the Onion without any humor.
Reply to Andrea.Iravani
Your statement “China has not attacked and started wars with other countries, the truth is that China is an obedience loving nation and as long as its subjects are willing to obey any and all commands, China will remain peaceful” was incorrect.
It demonstrated strongly that your view was biased, one-sided because your knowledge about China and the World’s history is limited. You should read more history books to broaden your horizon.
Chinese communist annexed Tibet by force in 1950, killing of hundred thousand of Tibetian people. The 1959 Uprising alone, Chinese Army (PLA) involved the killing of 87,000 Tibetans. Additionally, China attached India in Ladakh and across the McMahon Line (demarcation) in 1962. Furthermore, China supported the Pol Pot regime (1975-1979) to kill million Cambodian people and has invaded Vietnam for many many times. The last China-Vietnam border war was in 1979.
China has drawn the nine-dash line area which claimed by the Republic of China, later the People’s Republic of China (PRC), which covers most of the South China Sea and overlaps with the exclusive economic zone claims of Brunei, Indonesia, Malaysia, the Philippines, Taiwan, and Vietnam.
Are these Chicom peaceful? Come off-it!
“Chinese communist annexed Tibet by force in 1950..”
This is simply not true. Tibet was annexed by the Mongols when Tibet had no government and then brought it in as a province of China during the Yuan dynasty (1279-1368), started by Kublai Khan from Mongolia, after he conquered China.
Andrea.Iravani is right that China has not started any war with any country in the last 40 years or colonized any country in the past, whereas the US started 13 wars based on lies.