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<p>[QUOTE=&quot;dcarr, post: 25539071, member: 4781&quot;]We had some friends who owned 3 acres in the middle of a big area that was being developed as a high-end shopping mall area. Although the developer and the city/county did not just come and take the land, the city/county essentially conspired with the developer to leave a narrow 1-foot wide &quot;spite&quot; strip of land that barred access to our friend&#039;s property. There was no other reason in the plat for that strip, other than to severely diminish the value of, and access to, our friend&#039;s property. The developer wanted to buy it cheap, and eventually they did because there was nothing our friends could do with the land other than sell it at a relatively cheap price to the developer.</p><p><br /></p><p>Regarding the 1933 gold confiscation ...</p><p><br /></p><p>The &quot;Gold Standard&quot; was massively cheated upon during the 1920s. That led to enormous gold obligations that weighed upon corporations, the Federal Reserve, and the US Treasury. They all were obligated to deliver gold on demand (or upon maturity of bonds), but they didn&#039;t have it. The solution was to negate all those gold obligations. In 1933 the US Treasury and Federal Reserve held only enough gold to cover about 10% of the gold-demand currency notes in circulation. Government obligations were in gold and those obligations couldn&#039;t be met. So the obligations were reneged and gold was confiscated.</p><p><br /></p><p>Today, government obligations are not gold, but rather &quot;entitlements&quot;. There would be no reason to confiscate gold. If anything is going to be &quot;confiscated&quot; it is entitlements (pensions, Social Security, Medicare, etc.). The mechanism by which that has already been occurring is &quot;inflation&quot;. The government can continue to print money at will to cover all obligations. But as they do that, the total cost (in dollars) of those entitlements continues to go up. At some point the entitlements will be curtailed and/or more taxes will be levied.[/QUOTE]</p><p><br /></p>

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