Will there always be privately owned GOLD???

What do YOU think the possibilities of history repeating its self, and the Treasury Dept. restricting the private ownership of gold, as they did in 1934.
If any… what restrictions mite they impose?

 

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Thier will ALWAYS be privately held gold. Its just the nature of Americans to do so.

 

Have you read why the restrictions were imposed, and also why they were lifted? Do you realize that when they were imposed, people just socked their gold away, it was not taken from them unless they were stupid.

 

So does that mean, yes there is a chance? Or no possible chance.

 

One of the many reasons they want to take away guns from the people

 

Initially most of the people turned in their gold because they felt it was thier patriotic duty to do so. (Kind of like after the income tax was passed in 1913 some people actually overreported their incomes so they had to pay the tax so they could brag that they had done their part to help support the country.)

Later it was turned in under the fear of getting in trouble if they were discovered to still be holding gold. In some cases it would be hidden inside of rolls of other coins such as a half eagle in a roll of nickels, or put in vending machines, or thrown in wishing wells. Anything to try and keep them from being traced back to them so they wouldn't get in trouble.

 

They won't take away ownership because it isn't tied to the value of the dollar the way it was in '33 . Then people were getting gold on the cheap and sending it overseas , now the gold going overseas is helping , though a tiny bit , to pay our growing dept . Plus the gov. is making not losing money on its sale .
rzage

 

In 1964 you could buy a loaf of bread for a dime, 40+ years later with that dime you still can.
[FONT=&quot]In 1965 you could buy a loaf of bread for a dime, 40+ years later that dime buys almost nothing[/FONT]

 

The confiscation of gold was related to the American currency being on the gold standard. We are no longer on the gold standard and thus there is no reason for the government to seize gold.

 

And those pre 1964 dimes would come in handy because we would still have bread LINES.
Gold will never be seized because it is no longer tied to Money. It will never be tied to money because that limits the Feds options to expand the economy by printing more of it.

 

Well the 1964 dime was silver. So it would be worth around $2.80 melt, you can still buy a good loaf of bread for that.

 

What if the dollar was really taking a hit, worse than it is now, and the government decided the only way to pull the dollar back up was to back the dollar to a percentage of gold? I realize it would have to be a small percentage, but who knows? Anything can happen!

 

Yes as long as there are doomsdayers.

 

In my honest opinion, If that were to happen people would be melting the coins and getting the gold out of them. It would be a huge waste of money and a huge waste of time. So in effect the U.S. government would be losing money by the masses.

 

Never will happen in my lifetime . I'm 57 .
Rusty

 

Oh, I dont think it would happen either, but when/if a country gets desperate, anything can happen depending on who is in charge........

 

That's not necessarily true. When hyperinflation hits, people will start looking for alternatives and demand payment in the alternative of their choice which doesn't depreciate by 50% the following day. Precious metals are the absolutely best form of money known to man, so they will be the first alternative people choose. Other alternatives might be other fiat currencies that aren't hyperinflating yet. The U.S. Dollar was that alternative in many of the South American hyperinflations. But by rejecting the hyperinflating currency -- in this hypothetical case it's the U.S. Dollar -- then that currency loses value even faster. Therefore, it is in the government's interest to force people to ONLY use the official currency. Politicians will deride the "evil speculators" as being the cause of the currency's collapse and therefore pass a law that holding other forms of money, including precious metals, is illegal and that they must be exchanged immediately for dollars at a fixed rate. Those who don't will be deemed not only a criminal, but unpatriotic or a traitor. There will also be foreign exchange controls to ensure precious metals and other better currencies don't exit the country en masse. This will also prevent foreigners from redeeming their dollars for something of value before it's too late.

To help mitigate the effects of these likelihoods, I recommend the following two actions... 1) keep physical silver in your personal possession in a bolt-down safe that is hidden and hard to find, and 2) open up an account with a foreign bullion bank and store gold allocated in your name (not a pool account), that you can retrieve later if you need to flee the country (e.g. because of martial law or social unrest). You want to do these things now while you still can, not wait until the crisis actually hits. It's cheap insurance which will help you sleep at night.

 

So hypothetically if we were to back today’s dime with some percentage of silver or gold, we could null out some or all of the past 40+ years of inflation that made that 1965 dime almost worthless today.
As simple as it sounds, it does at least works on paper….

 

If all that happens , people won't be able to flee the country , and the rest of the world will probably be worse off than us .
rzage

 

That's a defeatist attitude, equivalent to continuing to sing and dance on the Titanic instead of finding a lifeboat or something else which floats. I don't intend to make my grave at the bottom of the sea, so I'm preparing as best as possible. Many people will inevitably share your attitude and perish. The survivors are making preparations now.