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Gold Confiscation Not A Possibility by Jim Sinclair
jsmineset. ^ | November 24, 2012, at 2:24 am | by Jim Sinclair

Posted on 11/24/2012 2:00:55 PM PST by dennisw

Gold Confiscation Not A Possibility

Hi Jim,

I know you receive tons of emails, so I will get right down to the core of my question. In a note on kingworldnews.com today Richard Russell wrote:

“At any rate, I’m personally torn between putting all my assets into bullion gold coins or leaving half in gold and half of my assets in US dollars. In their demand to making Fed notes the only legal tender money, I believe the Fed (and the government) would stoop to any trick or law or machination to ensure that Americans must accept Fed notes as the only legal tender money. The government (Congress?) could pass a law outlawing any transactions in gold or silver or any precious metal.  The government could halt the trading of gold or gold ETFs.  Or there might be a dozen tricks that the government could use that would outlaw the use of gold as legal tender. Then, there are always taxes as a barrier to even owning or trading gold. So I dunno, hold all your assets in gold bullion coins?  Frankly, I’m afraid to.  The bankers demand that I use their rotten fiat notes as money, and believe me, the bankers (the Fed) run the country.”

What is your take on this possibility Jim? Do you think we would see warning signs before TPTB does anything on that? If you have already treated this issue in a previous post, please excuse me and feel free to forget about this email. Thanks for all you do so generously for all of us sheeple.

CIGA Michel

 

 

Dear Michel,

My respect for Richard Russell could not be higher. I will speak to this generically while recognizing "Richard the Good" stands along with "Dean Harry Schultz" as the only true two icons of gold. All others are but pretenders to the golden throne for some personal profit motive. Anyone seeking to dim another’s candle that theirs might shine brighter are as sociopathic as the banksters in our crowd for what they can get.

There was much to be gained by gold confiscation in the 1930s because we were on a gold standard. Without taking you into complicated explanations, please accept the true fact that gold in the 1930s was the only instruments of QE. It is not now nor will it be again in the future. There may be more to gain by a significant price of gold in the new reserve currency. There is no reason except some sort of fear of revenge to consider confiscation of gold, gold shares or the gold ETFs now. Those that worry so much about this do not really understand what gold was under a gold standard.

Why was energy not confiscated at $145 crude? Why not confiscate Apple at $750? Confiscation is NOT going to occur, nor will the gold bullion or gold share profits be confiscated via punitive taxation. It serves no monetary purpose and just might injure the efforts for a new reserve currency that is sure to come.

Respectfully,
Jim



TOPICS: Business/Economy; Culture/Society
KEYWORDS: gold; goldconfiscation; jimsinclair
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1 posted on 11/24/2012 2:01:05 PM PST by dennisw
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To: dennisw

If they try to take your gold, just give them some lead instead.


2 posted on 11/24/2012 2:04:42 PM PST by Drill Thrawl (We have crossed the line from independence & liberty to dependency & servitude. We are doomed)
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To: dennisw

There was much to be gained by gold confiscation in the 1930s because we were on a gold standard
It will not be taken for that reason it will be stolen for thier own use.


3 posted on 11/24/2012 2:05:22 PM PST by ronnie raygun (bb)
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To: dennisw

CIGA


4 posted on 11/24/2012 2:06:26 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: dennisw

I have found this website to be a very useful source of information on the economy, gold, and silver.

http://goldismoney.info/forums/


5 posted on 11/24/2012 2:08:27 PM PST by Silver Sabre
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To: dennisw
When someone tells me that 'such and such just can't happen', I tend to grab my wallet and reach for my weapon, because here it comes.

/johnny

6 posted on 11/24/2012 2:09:46 PM PST by JRandomFreeper (Gone Galt)
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To: ronnie raygun

That’s right. The left will not be able to stand people who are not under their control when the SHTH. Imagine their horror when they realize that there are people who do not come to the food lines to beg for food, water, etc. but rather are self-sufficient because they prepared.


7 posted on 11/24/2012 2:10:30 PM PST by rcofdayton
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To: dennisw

If they had stayed on the gold standard in the 30’s, it would have soon become apparent that the FRN’s were being printed far faster than any new gold coin issues.

Thus, the FRN’s would have been in competition with gold - and the FRN’s would have become valueless compared to gold coin.

That’s why it was seized.

So they could print as many FRN’s as they wanted.

And that why the gold “window” was eventually slammed shut, because there was so much paper money out there, there wasn’t enough gold (at the government set price) at that time to back it.

Now, gold is no longer money, and the amount in private hands is a tiny, tiny, tiny fraction of the money “supply”.
There would be little for confiscation to accomplish, it would generate more ill will and anti-government sentiment than it would be worth.


8 posted on 11/24/2012 2:13:23 PM PST by djf (Conservative values help the poor. Liberal values help them STAY poor!!!)
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To: dennisw

I chose lead & brass over gold & silver.

“If you can’t protect it, you don’t own it.”


9 posted on 11/24/2012 2:15:20 PM PST by carriage_hill (America - a great idea while it lasted.)
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To: dennisw
I totally disagree.

So does this guy:

The economic collapse of America will trigger the confiscation of Gold and maybe silver. The US government is borrowing more than what they can produce economically and they are out of cash and have to borrow more money they do not have from China or other countries to support the war on terror, healthcare, and etc. The value of the dollar is dropping, but the only reason why the basic fundamentals of the dollar is not taking place is the economic chaos in Euro which is causing all the investors go to another safe haven with is the US treasury. What China and Russia and other East continents are doing is trading on another currency besides the dollar. China and Russia is trading oil with Gold and silver because China does not like the fact the value of the dollar is going down. China also wants to move away from the Dollar and is telling other countries like IMF, Global Banks, and other developing nations to get out of the dollar. The IMF already has a currency called the Special Drawing Right. This is the currency that other nations, especially China, are being pushed for a global currency. The currency for now is being pushed to be backed by a pool of world currencies such as Euro, Yen, Sterling, and dollar. But once the economic collapse of America called the dollar is no longer trusted they are going to try to back the SDR with Gold and Silver. Once this event takes a place a scenario of what will happen is that all the gold will be confiscated at a high gold price around a wide range of $2000 ~ 3000 per ounce. That will be a good enough reason for the government to confiscate it. The words that will be used by Obama is to help build America together, sharing the pain together, or we are all in this together motto. Once the gold has been confiscated the price of gold will shot up x5 to x10 fold because if the supply is reduced the demand (price) will go up. The gold will go to the Federal Reserve and they will back the new currency, probably SDR or something else before SDR) with the price of gold multiplied by x5 or x10. The American people will be trading their gold for an old currency, the dollar, and then after they give that worthless paper out the Feds will print the new currency with the backing of gold.

The fact that we are not on the gold standard, and the fact that gold, silver, and commodities will be the few assets with tangible, real value when the global currencies collapse (and they will) make gold confiscation an almost certainty.

If you have gold in a safe deposit box at a bank, the banks will simply refuse you access and then hand them over the government (who will gladly pay you pennies on ounce of the soon to be useless dollar).

The confiscation does not even have to be law! It simply has to be an "Executive Order" ordered by bath house Barry. FDR did the exact same thing, and he did so without Congress.


10 posted on 11/24/2012 2:16:23 PM PST by SkyPilot
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To: rcofdayton
There are freepers with that attitude.

/johnny

11 posted on 11/24/2012 2:16:40 PM PST by JRandomFreeper (Gone Galt)
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To: dennisw

A government that can force you to purchase insurance is also a government that can confiscate gold.


12 posted on 11/24/2012 2:19:11 PM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: dennisw
Hmmphh ... stupid people are flocking to voluntarily trade it in for some shit called 'cash'.

Happened in the '70's, too.

Kiosks everywhere .. We Buy Gold, Silver, School Rings ... etc.

13 posted on 11/24/2012 2:19:19 PM PST by knarf (I say things that are true ... I have no proof ... but they're true)
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To: dennisw
Oh, and if you don't own physical gold, but own Exchange Traded Funds (ETFs), then you are also screwed.

Hint: if you don't own real gold, but own a piece of paper that says you are owed gold based on volume demand, then at the end of the day you will be left with a piece of paper.

14 posted on 11/24/2012 2:20:39 PM PST by SkyPilot
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To: dennisw

If someone says, “It’ll never happen”, and it’s in the world of human control or manipulation, you can pretty much bank on the fact that IT WILL HAPPEN.

If only because humans by nature are contrary creatures, and some are very greedy and grasping at what others have


15 posted on 11/24/2012 2:20:45 PM PST by The Working Man
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To: dennisw

A man who has gold, silver and lead and the means to make best use of all three can deal with the threat of confiscation. A million fellows similarly situated can achieve a great deal more.


16 posted on 11/24/2012 2:22:50 PM PST by muir_redwoods (Don't fire until you see the blue of their helmets)
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To: SkyPilot

It’s still amazing to me that men like my father obeyed such a decree. Today my only response would not be printable on a site like this one.


17 posted on 11/24/2012 2:26:34 PM PST by muir_redwoods (Don't fire until you see the blue of their helmets)
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To: dennisw

Jim,

Respectfully, it isn’t about revenue, it’s about control.

In much the same way they continue to raise taxes even though they full well know that on this side of the Laffer curve each increase in tax rates results in a drop in revenue and a net decrease in overall wealth, they will confiscate your gold knowing full well it will hurt you and injure the efforts for any new reserve currency that might reduce their power.


18 posted on 11/24/2012 2:28:41 PM PST by null and void (America - Abducted by Aliens...)
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To: Hoodat
A government that can force you to purchase insurance is also a government that can confiscate gold.

They can gin up any law they want. Enforcing it is another matter.

19 posted on 11/24/2012 2:30:11 PM PST by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: dennisw
Jim uses poor analogies to make his point.

Technically the government didn't confiscate gold, they forced citizens to sell it to 'em at $20, waited a few years, changed the value by fiat, and sold to dealers at $35, then no longer enforced the legal prohibition and taxed the dealers on the markup income when the dealers resold the gold.

As gold is no longer a US currency standard, that can't be done now, it's just like any other private property, fair compensation must be paid and the government does not set the value of gold.

20 posted on 11/24/2012 2:31:23 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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