Gold may have replaced the dollar but if Obama is willing to destroy the U.S. Dollar,what’s to prevent him from banning the private possession of Gold in any form other than as jewelry?Nothing.
President Roosevelt did this already so there is a precedent.
Yep. Obama is every bit as conniving, elitist, and deluded as FDR was. The parallels in world view between the two are many, as well as their actions in economic crises. Both are utter failures.
Gold may have replaced the dollar but if Obama is willing to destroy the U.S. Dollar,what’s to prevent him from banning the private possession of Gold in any form other than as jewelry?Nothing.
To do the same today would have a microscopic effect on the economy, or the government’s ability to control it.
Also, those who hold gold today tend to be politically conservative, likely gun owners, and unlikely to obey. Maybe Obama can grab all the supposed Comex gold held by ETFs, but not the gold privately held by ordinary people.
In addition, gold confiscation happened AFTER it had appreciated substantially. If it were to happen, it wouldn’t be at $1500, it might be at $5000, at which price those who complied would receive the full price (if history repeats. The inflation that follows would hurt those dollars, but it’s a darn stretch better than not having enjoyed the gold gain to have a larger pile of deflating dollars.
The real question is: why do some freepers seem so eager to make others afraid of owing gold?
You may as well try to talk me into canceling my fire insurance, or consuming my supply of stored food, or spending all my savings. You’re wasting your breath, and we never hear from the anti-gold-bugs what vehicle they suggest for their spare savings. (Which makes it sound like the sour grapes of economic resentment).