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Cyprus bailout = money shift to tangible assets (gold, silver, etc...)
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<p>[QUOTE="Tom B, post: 1666896, member: 11854"]The up to $100 face value exemption was a <i>huge </i> sum of money for most folks, so of course the great majority of the population could not have taken advantage of this to save this sum in gold. After all, these folks did not have $100 <i>total liquidity </i> to their name. Executive Order 6102 also required that all banks that received gold or gold certificates to forward these coins or notes to the Federal Reserve. Therefore, any gold coinage or gold certificates used in commerce and eventually deposited in banks were siphoned off the system and sent up the chain to the Federal Reserve and, eventually, Fort Knox.</p><p><br /></p><p>The fact that many gold coins and gold certificates were removed from circulation and melted or destroyed does not mean that the general public could not have saved these pieces if they wanted and could afford to do so.[/QUOTE]</p><p><br /></p>
[QUOTE="Tom B, post: 1666896, member: 11854"]The up to $100 face value exemption was a [i]huge [/i] sum of money for most folks, so of course the great majority of the population could not have taken advantage of this to save this sum in gold. After all, these folks did not have $100 [i]total liquidity [/i] to their name. Executive Order 6102 also required that all banks that received gold or gold certificates to forward these coins or notes to the Federal Reserve. Therefore, any gold coinage or gold certificates used in commerce and eventually deposited in banks were siphoned off the system and sent up the chain to the Federal Reserve and, eventually, Fort Knox. The fact that many gold coins and gold certificates were removed from circulation and melted or destroyed does not mean that the general public could not have saved these pieces if they wanted and could afford to do so.[/QUOTE]
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