Gold panic inside the oval office (Germans pulling their gold out of USA)

goldseek.com ^ | 6/3/09 | bix weir

[RC one]

that’s when you hand them your lead instead.

[ForeignDude]

All the gold trading issues apart, there is one good reason foreigners might want to repatriate their gold —

If they believe the U.S. is headed for a social collapse (e.g., Argentina circa 2001) that will compromise the physical security of those gold deposits.

[Daisyjane69]

I read these two items the last few days:

http://www.jrdeputyaccountant.com/2009/06/gold-manipulation-or-mass-central-bank.html

http://www.jrdeputyaccountant.com/2009/06/imf-gold-manipulation-scheme.html

FWIW

[wafflehouse]

as i understand it, gold is loaned to 'bullion banks' at almost no interest. The interest rate insures they can just roll over these loans. bullion banks lease this gold on the market (COMEX) to control the supply, also controlling the price. In addition, the vast majority of these COMEX futures contracts never end up being delivered. This enables some financial institutions to sell more contracts than they have actual physical gold, further manipulating the supply.

In this scenario you have people wanting to know how much gold is actually being held (Such as Ron Paul asking about Ft. Knox). Where is all the gold? Do we actually have all the gold we say we do?

The interesting part is that with the current global uncertainty, the demand for gold has increased greatly and more people are actually taking delivery of their gold rather than just trading contracts. Thus you get articles like this one: Hitmen Contracts to Bust COMEX

[wafflehouse]

in 1933, Gold was actual money.. FDR seized the gold and then devalued the currency. He wouldnt have been able to do that with gold still in private hands.

Today, gold is not money, it is a commodity. While it holds a constant value, it doesnt effect the value of money except in situations where large swings in price drive investors in and out of currencies.

thus the price fixing schemes. there is no necessity of seizing gold at this point, or at least not the same necessity that FDR had in 1933

[RC one]

true enough. perhaps the invasion of America is pending and they want their gold out beforehand?

[ground_fog]

You can buy gold from the Perth Mint in Australia and they store it there. You can buy through Peter Schiff’s firm:

Http://www.europac.net

[RC one]

I’d just assume store it in my safe...with the Uzi and such. When the SHTF, I think it will be more convenient that way. ;-]

[ClancyJ]

Then sell it quick and go bury the cash in a field somewhere. But the dollar will be worthless - so just decide if you want gold, or worthless dollars.

Maybe it is time to invest in offshore accounts. Or in technology that hides funds. Money laundering? Can we learn about money laundering?

[ClancyJ]

You need to keep a little gold in case you ever have to pay for passage out of the country (which gets more and more likely daily).

Friends are investigating emergency countries to emigrate to.

Remember, all the refugees fleeing wars, they lost all but had some gold to pay their way onto fishing boats.

Nobody will ever turn down gold.

[ClancyJ]

Right. Do you think Obama would not confiscate Ft. Knox? He has two car companies, a few banks, just watch him start eyeing Ft. Knox.

I sure would not trust my country’s gold in a country run by an Obama who sees himself as above all. Who would have thought we would be considering leaving the country and finding alternate countries to live in? Who would have thought a president would be stealing purchased franchises and inventory from people all over America?

How would you like your livelihood, inventory, your lifeblood work just taken because one man wanted to confiscate a corporation and will never allow a crisis to be wasted.

[Nateman]

I've bought gold coins and did not have to leave any record. I read that because the gold eagle is legal currency it currently is not taxed.

Since the supply of gold actually goes up due to mining it would go down in value if the rest of the economy did not also expand.

Valuable and easily hidden it's a form of wealth that the looters in Washington hate when you own it. It makes it difficult for them to rob you. The smart guys have already bought some. Right now It's anybodies guess where the price goes. I wish I had more cash on hand when it got near 200$ an ounce. I knew that was a low point.

[eyedigress]

I will heed that advice. (i just got reviled on another thread for thinking prez did well). ;*^)

[Royal Wulff]

I dunno what to do. I’ve been investing in Canadian base metal and oil sands plays. I think the loonie will gain value against the dollar.

[SatinDoll]

Sew diamonds into the seams of your clothing. Airports have metal detectors, you know.

[Daisyjane69]

http://current.com/items/90152981_northwestern-mutual-makes-first-gold-buy-in-152-years.htm

Northwestern Mutual makes first gold buy in 152 years

[Vet_6780]

The world's reserves are not in gold, nor in dollars.

They are in oil.

[The Duke]

Friends are investigating emergency countries to emigrate to.

And what countries are they considering? (The great majority are a far worse alternative than the US in virtually any scenario).

[catfish1957]

"The world's reserves are not in gold, nor in dollars. They are in oil."

So true, and reason why Oil Company Stocks have held up so well.

[catfish1957]

Bought a couple of 1 oz. Krugerands last week (cash deal), gave my name as John Doe at 123 Main Street. Reason?....Asked the dealer if the government would consider this a numismatic transaction, and he said no.