Gold Surges To New All Time Record

Market regulators forcing short squeezes? Check. Central banks using mob-style gimmicks to push the price of "assets" around? Check. Market confidence back to 100%? We'll have to get back to you on that. Gold spot just touched on a fresh new intraday all time high of just under $1,579... and is going much, much higher.

After all, the most important question - Everyone is broke? Check.

RE: Just waiting for Obama to go full blown FDR on this.

He can’t do this without roiling the financial markets.
Too many people own the metal whether on paper or physical, and many of those who own the physical stuff do not keep it physically in the USA.

Besides, how’s he going to enforce it? Is he going to hire agents to go house to house to see if you’re hoarding gold or silver?

70% of all dollars are held outside of the US.

Any attempt to confiscate Gold would be like yelling “Dollars are worthless!!!” All the foreign holders of USD would rush for the exits.

Also: very little gold would actually get confiscated.

“Besides, how’s he going to enforce it? Is he going to hire agents to go house to house to see if you’re hoarding gold or silver?”

Yes, at least as far as gold goes. Silver is too common. And it’s easier than you think.

First, they go to the licensed gold dealers and demand their records. That will get a whole bunch of people. Then they go to the credit card companies for a list of everyone who has dealt with those dealers.

“Either give us your gold, or show us your sales receipt.”

As far as newer technology, they will use data mining to locate anyone who peruses gold boards or discusses it on forums. They go on the watch list, unless they have stated that they have gold holdings, and they get a knock on the door.

It’s all very authoritarian. And believe me, they know how to do authoritarian. FDR didn’t just do it with gold, he did it with food. Just one of his agencies, the Federal Surplus Relief Corporation, went from farm to farm, with armed escorts, confiscated pigs, and slaughtered and buried them. Six million pigs. And the farmers got nothing in return. And that was just the start.

Even gold nuggets, which were legally exempt, weren’t. It was well known to the gold miners at the Homestake, that if they spotted a nugget while mining ore, they would pocket it, then put it in a coffee can in a shed in back of their house. Supplementing their retirement.

Then every now and then, federals would show up and take all their coffee cans, with no receipt or thank you, and leave. How they knew this, nobody knew.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.