Thread: GATA Article about seizing gold

http://www.gata.org/node/8766

A longtime member of CT thought this link might fit better in the bullion section than in the Chat section.

The average person doesn't have any gold to confiscate. Do you think if confiscation were going to happen that there would still be bullion coins being minted?

What is the GATA? I see they sell a cool T-shirt. Is it a legitimate group?

Originally Posted by Fifty

The average person doesn't have any gold to confiscate. Do you think if confiscation were going to happen that there would still be bullion coins being minted?

(Short answer, - the more people working to restore the wealth of the nation individually, the less of a burden on the Nation - China seems to have that figured out).

(Long answer)
I have purchased Presidential golden dollars from the Mint. In their 1$ direct ship roll program, it is possible to purchase boxes (at $250.00 per box) of golden 1$ for the purpose of introducing the dollars into circulation (which I do, and then watch the merchant, or those in line behind me, set them aside immediately for their own collections). (Since I like to encourage the hobby, I find the golden dollars a joy to shop with - everyone loves them).

Thinking of this more modern revelence, the program is specific about not putting the rolls in a Safety Deposit box right away (not sure how that time period is defined). So here is my contention, if the Treasury is going to start dictating where to place our purchases of something as readily available as clad dollars, then I would not be surprised to discover more demands outlined for other products in the future.
REf: http://catalog.usmint.gov/webapp/wcs...dentifier=8100

Regarding the word "confiscation." The word in it's historical context is not accurate. Folks were intimated/mandated to sell their gold. The gold was not stolen in the traditional sense of the word. Do I think unimagined mandates are possible again for gold and other asset of value in our future? My answer is yes. Just my personal opinion.

Like you, I doubt a sweep being made to collect folks' coin collections or bullion stash, but I do think it is possible that our means to purchasing and saling gold bullion could change dramatically during times of great crisis and transition. (I can imagine being told that it is for our own good and safety).

I posted the link to the article because I find GATA to be reputible source on the subject. The topic of not being able to get specific operational "definitions" defined by those in the position to do so is what caught my attention.

When a big machine is operating safely, it is often because someone chose to first write a manual on safe operating practices. Assuming the procedures in the manual are good and all the pages are there, the operator's risk to using the machine is greatly reduced. So that is my example......GATA's article reminded me that we are utilizing a machine without a full and functional manual.

Just because a hole can be dug, does not mean it can be plugged.....
Just because gold can be sold, does not mean it can be held...(and you can quote Sunflower for that little line of poetry).

My intention of responding to the first poster is to clarify why I felt the article was of interest. I do not wish to start a war on the topic. The argument of gold confisication in its self does not amuse me enough. Much has already been written on the topic.

[QUOTE=sunflower;934755

Thinking of this more modern revelence, the program is specific about not putting the rolls in a Safety Deposit box right away .[/QUOTE]

The term they use is Deposit. People were buying the coins with a credit card, depositing them in the bank and paying the credit card bills with the cash. All to earn frequent flier miles and rewards basically for free. The coins never actually went into circulation. Just from one bank to another.
That is why they put the disclaimer/restriction on the website.

Originally Posted by bigjpst

The term they use is Deposit. People were buying the coins with a credit card, depositing them in the bank and paying the credit card bills with the cash. All to earn frequent flier miles and rewards basically for free. The coins never actually went into circulation. Just from one bank to another.
That is why they put the disclaimer/restriction on the website.

Thank you!, -- I was limited in my thinking. Too concrete. I interpreted the statement to not place the rolls directly into a safety deposit box (hoarding them).

I appreciate you clarifying this. So I guess it is OK to drop a few of these pretty babies into the box after all.