Confiscation

Does anyone else fear bullion confiscation? I keep thinking that if this happens offsite storage could come back to haunt.

 

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No.

Executive Order 6102 [Wikipedia]

 

No.

 

If the feds were going to confiscate our gold and silver, why the heck would they be churning it out big time at West Point?

 

Sarcastic tonight?

 

There were over four million $10 Indian Eagles minted in 1932. I haven't had a chance to look up the half and quarter eagle figures. I'm not saying you are but I think most people focus on the St. Gaudens and don't place alot of emphasis on the lower denomonations.

 

And your point is?

 

Production was halted all of the sudden. If the US were to stop making bullion coins people would assume one or both of these two things.

1. Gold is really rare now
2. Confiscation is near

 

He hasn't done his homework, just let his mind wander and is now hoping for the forum to put him on the right track of thinking... :whistle:

 

That then would sound like my time to sell and cash in on their fear. Then save to reinvest when they calm down and sell their PMs to get on with life after the confiscation fear passes. :secret:

 

But they ain't haltin' production. In real terms, they seem to be ratcheting everything up a couple of notches.....

 

No, The simple answer!

 

I've seen plenty of people afraid of it, but none have been able to answer the simple logical question of what the government's motive would be. Last time around there was the key difference that the US was on a gold standard.

 

No.

 

This. My understanding is people were hoarding gold and destabilizing the system.

 

We may experience it again,and due to hoarding,it would make sense it could create destabilization.although people wouldnt like it,it could really help our government.and keep us living in this FREE Country like we do

 

Absolutely no chance, This is a different time and a differently mentality.

 

Confiscation keeps us free?

 

Uh, if the government was going to confiscate anything, it would be oil and oil producing wells, because the dollar is essentially backed by oil now, due to many, many agreements with middle-eastern powers and OPEC that force them to sell their oil in USD instead of, say, the Euro. I'm not a conspiracy theorist, but this is a really good read on the relationship between the dollar and oil.

http://www.energybulletin.net/node/12125

 

I don't think the government will confiscate gold now for two reasons:

1. The people running The Fed, the treasury, banksters, etc. mostly are drinking their own koolaid in that PMs are irrelevant in the world of Fiat they have created.
2. The ones in power who are truely in the know about gold, also know that a direct government seizure would cause a lot of alarm and protests even from people who don't hold gold. Along with that, they probably think there are not enough people that hold gold now, to make it worth the huge trouble it would cause them.

My guess is their real target is the 401K holdings of people. They will find a way to grab all the wealth put in these accounts since they have been pushed as the replacement over traditional retirement plans over the last 25 years. Of course it will be done with the excuse they have to take steps to protect people's retirements.