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<p>[QUOTE=&quot;Cloudsweeper99, post: 61072, member: 3011&quot;]GDJMSP,</p><p><br /></p><p>I guess you are correct this this line of discussion can get heated, and I apologize in advance for any hard feelings this post may cause.&nbsp; But I have to warn people that your response is incorrect in my opinion, and at least encourage people to look beyond your opinion, and my opinion, and decide for themselves.&nbsp; The confiscation of gold did nothing to save the nation in the 1930s.&nbsp; It only prolonged the Great Depression.&nbsp; I&#039;m afraid you are reading the version of history written by those who took the gold (i.e., central bank supporters and apologists for their economic mismanagement).&nbsp; What else could they say?&nbsp; That it was a mistake?&nbsp; The Depression that began in 1929 was little different from the one that began after the end of World War I.&nbsp; The primary difference was the government response.&nbsp; After World War I, the government revived the economy by cutting taxes and staying out of the way.&nbsp; The economic contraction was short-lived since hard money standards are self-correcting systems unlike the fiat currency system that requires regulation and active management to exist.&nbsp; After 1929, all sorts of government &quot;assistance&quot; was provided including a 25% contraction of the money supply, tariffs, bank closings, government welfare programs, and, yes, the confiscation of gold.&nbsp; Not surprisingly, the Depression lingered.&nbsp; If the gold hadn&#039;t been confiscated, a number of banks would have failed, as happened many times before, (gold) money would have flowed into the soundly managed banks, and the economy would have revived after a short but sharp contraction.&nbsp; This wasn&#039;t the first recession/depression/panic but turned out to be the worst because of the way it was handled.&nbsp; If you restrict yourself to blindly accepting history as written by the &quot;victors&quot; you will rarely understand what was really going on.&nbsp; So beware of the apologists for big government.</p><p><br /></p><p>That said (I feel better for having tried to set the record straight and maybe saving a couple of minds out there <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> ) there is little chance of gold being confiscated again in my opinion.&nbsp; For one thing, it isn&#039;t used as money and isn&#039;t used as settlement in international trade, so there is less point to it.&nbsp; Second, there just isn&#039;t that much of it in the hands of the public compared to the past since the vast majority of it was previously confiscated and given to the banks to bail them out.&nbsp; The gold was never returned to private ownership except for the relatively small number of gold eagles and commemorative coins that have been minted, and thousand of tons of it still sits in central bank vaults around the world.&nbsp; Even Roosevelt exempted numismatic coins from confiscation, and in the unlikely event confication happens again, the hobby will most likely be safe.&nbsp; So if you feel a bit paranoid, buy gold with some sort of numismatic value instead of plain bullion coins.[/QUOTE]</p><p><br /></p>

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