CRH finds & more and gov. confiscation

[coinmojo]

CRH finds & more and gov. confiscation

A friend sent me this link.

http://www.silvermonthly.com/195/government-confiscation-gold-happened-beforecould-happen/

The Foundations of the Great Confiscation


Confiscation all dates back to the Trading with the Enemy Act of 1917. That year, President Woodrow Wilson signed the “TWEA” into law, forbidding American individuals and businesses from engaging in trade with “enemy nations.” The world’s functional gold standard, which had overseen tremendous global economic growth in the early years of the twentieth century, was effectively halted by the outbreak of World War I, and the stage was thus set for the Great Depression and World War II.

Shortly after taking office sixteen years later, Franklin Delano Roosevelt signed Executive Order 6102 into law, prohibiting the “hoarding” of gold. Under this executive order, Americans were prohibited from owning more than $100 worth of gold coins, and all “hoarders” (i.e. people who owned more than $100 worth of gold) were forced, by law, to sell their “excess” gold to the government at the prevailing price of $20.67 per ounce.

Then, once the government had all the gold, FDR revalued the dollar relative to gold so that gold was now worth $35 an ounce. By simple decree, the government had thereby robbed millions of American citizens at a rate of $14.33 per ounce of confiscated gold, which is why most historians agree that the Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States.


Mojo

 

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[ArkieBassMan]

Re: CRH finds & more and gov. confiscation

That can't be true. My high school history book never mentioned it.

 

[Diggin-N-Dumps]

Re: CRH finds & more and gov. confiscation

That can't be true. My high school history book never mentioned it.

Yea...Why would the Gov want our money?!?

 

[BullionBaron]

Re: CRH finds & more and gov. confiscation

Come and get it. They can have my lead too!

 

[cyberdan]

Re: CRH finds & more and gov. confiscation

That can't be true. My high school history book never mentioned it.

Lets ask Mrs. APUSH she would know for sure.

 

[apush]

Re: CRH finds & more and gov. confiscation

Hi All,
Yes, yes, yes, Roosevelt did. But most folks during the Great Depression were more worried about feeding their families then even thinking about gold--which they did not have to begin with--few folks in the south every viewed--let along owned a gold coin. Roosevelt had it out for the Rockefellers, Duponts--etc--those who were Hoover supporters and were very wealthy. Course FDR was wealthy, too. He was targeting big money--not folks like us (well--folks like me in the modern sense). There were lots of Roosevelt haters--especially the AFC--who also opposed the US entering the war in Europe--then most became FDR supporters with the bombing of Pearl Harbor.

I know most here on this forum hate FDR, but I do believe--yes, nail me up--he helped to save democracy. Disagree with me all you can, but that is what makes our country special--that is, I can have my opinion and remain free at the same time.

There are laws that are on the books that most Americans just ignore. Most ignored that one as well. Yes, I am pro-Roosevelt for many, many reasons. Lest us forget, he also helped to promote women to participate in a war effort more fully than any war prior or since. Course, he was not so great on civil rights. I could go on and on, but I shall stop now and focus on the task at hand: CRH.

Happy Silver Hunting,
apush

 

[jim4silver]

Re: CRH finds & more and gov. confiscation

I am not going to give my opinion on Roosevelt one way or the other. But what most people never mention when this topic comes up is WHY they did the whole gold confiscation bit.

Back then the dollar was actually backed by gold, unlike today. They wanted to expand the monetary base for various reasons, to do so they needed to have the gold back in the treasury, and also to take away the right of Americans to covert their paper currency into gold. After this "confiscation" occurred, they raised the price of gold to almost double (from approx 21 bucks per ounce to 35), thus basically doubling the money supply. Back then the price of gold was fixed unlike today where it is based on futures prices.

Nowadays, they can print and print all they want so there is no reason in the world for another gold confiscation as things are today. That could possibly change down the road, but I would personally be more worried about my 401K or IRA money than I would about my gold or silver at the current time. I am not saying they will confiscate the 401Ks or IRAs, but if they took something, I think those would be first. There have been articles by some who think the gov could force people to put some of that money into treasuries, etc. Again, I don't see that happening personally, but there is much more $$$$ in those than in gold and silver held by the citizenry here I think.

If they ever decide to confiscate your gold and silver, they will also probably be taking your land, house, guns, food and water too. I don't see that happening, but anything is possible as they say I guess.

All just my opinion.

Jim

 

[apush]

Re: CRH finds & more and gov. confiscation

I was waiting for you Jim! LOL. You are the best . . . and give the best info on the net. You are greatly appreciated and I love to read your posts.

Happy Silver Hunting,
apush

 

[jim4silver]

Re: CRH finds & more and gov. confiscation

I was waiting for you Jim! LOL. You are the best . . . and give the best info on the net. You are greatly appreciated and I love to read your posts.

Happy Silver Hunting,
apush

Thanks Apush!

Jim

 

[JD-GA]

Re: CRH finds & more and gov. confiscation

I am not going to give my opinion on Roosevelt one way or the other. But what most people never mention when this topic comes up is WHY they did the whole gold confiscation bit.

Back then the dollar was actually backed by gold, unlike today. They wanted to expand the monetary base for various reasons, to do so they needed to have the gold back in the treasury, and also to take away the right of Americans to covert their paper currency into gold. After this "confiscation" occurred, they raised the price of gold to almost double (from approx 21 bucks per ounce to 35), thus basically doubling the money supply. Back then the price of gold was fixed unlike today where it is based on futures prices.

Nowadays, they can print and print all they want so there is no reason in the world for another gold confiscation as things are today. That could possibly change down the road, but I would personally be more worried about my 401K or IRA money than I would about my gold or silver at the current time. I am not saying they will confiscate the 401Ks or IRAs, but if they took something, I think those would be first. There have been articles by some who think the gov could force people to put some of that money into treasuries, etc. Again, I don't see that happening personally, but there is much more $$$$ in those than in gold and silver held by the citizenry here I think.

If they ever decide to confiscate your gold and silver, they will also probably be taking your land, house, guns, food and water too. I don't see that happening, but anything is possible as they say I guess.

All just my opinion.

Jim

If they just print and print and print dollars as you mention those dollars become devalued and eventually valueless. At that point the hoarded gold and silver IS what the government would want. Why do you think so many of us americans are putting all of our green money into gold and silver now? Because our green money is going down while our jingling money is going up. Last year i took my 401k, put half of it in silver in February at $17 an ounce, it just hit $37 an ounce minutes ago barely a year later and my dollar has dropped more in that time. Im not meaning to contradict you here but I have no doubt a government that wants to confiscate more tax dollars from a struggling economy would have no trouble trying to confiscate silver and gold if those tax dollars become devalued. I mean wasnt there talk during the Clinton administration about confiscating 401ks and putting them into treasury bonds for the sake of the people?

 

[clovis97]

Re: CRH finds & more and gov. confiscation

I am not going to give my opinion on Roosevelt one way or the other. But what most people never mention when this topic comes up is WHY they did the whole gold confiscation bit.

Back then the dollar was actually backed by gold, unlike today. They wanted to expand the monetary base for various reasons, to do so they needed to have the gold back in the treasury, and also to take away the right of Americans to covert their paper currency into gold. After this "confiscation" occurred, they raised the price of gold to almost double (from approx 21 bucks per ounce to 35), thus basically doubling the money supply. Back then the price of gold was fixed unlike today where it is based on futures prices.

Nowadays, they can print and print all they want so there is no reason in the world for another gold confiscation as things are today. That could possibly change down the road, but I would personally be more worried about my 401K or IRA money than I would about my gold or silver at the current time. I am not saying they will confiscate the 401Ks or IRAs, but if they took something, I think those would be first. There have been articles by some who think the gov could force people to put some of that money into treasuries, etc. Again, I don't see that happening personally, but there is much more $$$$ in those than in gold and silver held by the citizenry here I think.

Jim-

Thank you for sharing that!!! You said it better than I could have!!!!

One side note is that the FDR administration was also trying to build faith into our US currency, and partly the reason for calling all the gold in. Those were desperate days, and when you really study the Great Depression, no one really knew how to fix the economy, so they implemented many ideas.

 

[Rich Hartford]

Re: CRH finds & more and gov. confiscation

Hi All,
Yes, yes, yes, Roosevelt did. But most folks during the Great Depression were more worried about feeding their families then even thinking about gold--which they did not have to begin with--few folks in the south every viewed--let along owned a gold coin. Roosevelt had it out for the Rockefellers, Duponts--etc--those who were Hoover supporters and were very wealthy. Course FDR was wealthy, too. He was targeting big money--not folks like us (well--folks like me in the modern sense). There were lots of Roosevelt haters--especially the AFC--who also opposed the US entering the war in Europe--then most became FDR supporters with the bombing of Pearl Harbor.

I know most here on this forum hate FDR, but I do believe--yes, nail me up--he helped to save democracy. Disagree with me all you can, but that is what makes our country special--that is, I can have my opinion and remain free at the same time.

There are laws that are on the books that most Americans just ignore. Most ignored that one as well. Yes, I am pro-Roosevelt for many, many reasons. Lest us forget, he also helped to promote women to participate in a war effort more fully than any war prior or since. Course, he was not so great on civil rights. I could go on and on, but I shall stop now and focus on the task at hand: CRH.

Happy Silver Hunting,
apush

Apush,
It wasn't just in the South that people didn't have gold coins. I was lucky to have grandparents that lived well into their 90's, and I asked them about the use of gold coins. They both said that they only saw them used in pendants, usually worn by young girls. Had nothing to do with being rich or poor, gold coins simply did not circulate like paper money or silver coins,at least not up here in Hartford.
As far as FDR goes, I'll bet he is sharing a bottle of vodka with his buddies, Lenin,Trotsky,and Stalin, some place real warm
HH
Rich

 

[SFBayArea]

Re: CRH finds & more and gov. confiscation

Hi All,
Yes, yes, yes, Roosevelt did. But most folks during the Great Depression were more worried about feeding their families then even thinking about gold--which they did not have to begin with--few folks in the south every viewed--let along owned a gold coin. Roosevelt had it out for the Rockefellers, Duponts--etc--those who were Hoover supporters and were very wealthy. Course FDR was wealthy, too. He was targeting big money--not folks like us (well--folks like me in the modern sense). There were lots of Roosevelt haters--especially the AFC--who also opposed the US entering the war in Europe--then most became FDR supporters with the bombing of Pearl Harbor.

I know most here on this forum hate FDR, but I do believe--yes, nail me up--he helped to save democracy. Disagree with me all you can, but that is what makes our country special--that is, I can have my opinion and remain free at the same time.

There are laws that are on the books that most Americans just ignore. Most ignored that one as well. Yes, I am pro-Roosevelt for many, many reasons. Lest us forget, he also helped to promote women to participate in a war effort more fully than any war prior or since. Course, he was not so great on civil rights. I could go on and on, but I shall stop now and focus on the task at hand: CRH.

Happy Silver Hunting,
apush

I have no problem with FDR.. after all he is on the Roosevelt dime. If he was such a bad president like Bush Jr., he never would've ended up on a U.S. coin. All the FDR haters should just send their Roosie keepers back into the wild. He got elected 3 times folks.

I'm not a history buff but my learning is that he was the one who started the big government programs to get people out of the great depression. There's no way private companies would care to lead the country out of the great depression.

Since when do any private companies come out and say, "we need to do something about unemployment now!" ? They would be more or less saying stuff like "we need to replace workers with robots that work 24 hrs a day or find workers in Somolia that work for $.10/hr so that we can raise profits and thus our company stock values which were given to us when we took up position on the board of directors, go upp upp up like ENRON!"

In a sense, FDR started the shift for the Democratic party from right to left. Which years later lead the Republican party from left to right.

 

[jim4silver]

Re: CRH finds & more and gov. confiscation

I am not going to give my opinion on Roosevelt one way or the other. But what most people never mention when this topic comes up is WHY they did the whole gold confiscation bit.

Back then the dollar was actually backed by gold, unlike today. They wanted to expand the monetary base for various reasons, to do so they needed to have the gold back in the treasury, and also to take away the right of Americans to covert their paper currency into gold. After this "confiscation" occurred, they raised the price of gold to almost double (from approx 21 bucks per ounce to 35), thus basically doubling the money supply. Back then the price of gold was fixed unlike today where it is based on futures prices.

Nowadays, they can print and print all they want so there is no reason in the world for another gold confiscation as things are today. That could possibly change down the road, but I would personally be more worried about my 401K or IRA money than I would about my gold or silver at the current time. I am not saying they will confiscate the 401Ks or IRAs, but if they took something, I think those would be first. There have been articles by some who think the gov could force people to put some of that money into treasuries, etc. Again, I don't see that happening personally, but there is much more $$$$ in those than in gold and silver held by the citizenry here I think.

If they ever decide to confiscate your gold and silver, they will also probably be taking your land, house, guns, food and water too. I don't see that happening, but anything is possible as they say I guess.

All just my opinion.

Jim

If they just print and print and print dollars as you mention those dollars become devalued and eventually valueless. At that point the hoarded gold and silver IS what the government would want. Why do you think so many of us americans are putting all of our green money into gold and silver now? Because our green money is going down while our jingling money is going up. Last year i took my 401k, put half of it in silver in February at $17 an ounce, it just hit $37 an ounce minutes ago barely a year later and my dollar has dropped more in that time. Im not meaning to contradict you here but I have no doubt a government that wants to confiscate more tax dollars from a struggling economy would have no trouble trying to confiscate silver and gold if those tax dollars become devalued. I mean wasnt there talk during the Clinton administration about confiscating 401ks and putting them into treasury bonds for the sake of the people?

JD,

Where do you get the figure of "so many Americans"? Do you mean us here on treasurenet? There are actually very few of us Americans (on a percentage basis) that have any money in gold and silver coins/bullion. Maybe your family/friends are different, but hardly any of mine have any (not counting jewelry, etc), even after me bugging them for the past few years to buy some AND them seeing how right I was in my view that gold/silver would appreciate in value. They still don't buy, now they say it is "too expensive".

I have read that even most of the large hedge funds and other large investment groups still avoid gold/silver, except for some maybe a small 5 to 10% position as "insurance". From my viewpoint the mainstream financial commentators are still finding ways to desparage gold/silver every chance they get even though it keeps going up. As long as you are seeing thousands of "we buy gold" signs up instead of "we sell gold" signs, it means that the population is more unloading their stashes than buying it.

I say this because a gold/silver confiscation would yield very little even if everyone complied with it as things stand right now because there is not much in the population to take. Further, the amount of gov debt, money in circulation, etc, is in the mega trillions. I have read that the entire amount of gold above ground would only be a couple of trillion if even that (no real way to know what exists for sure), so it is like a drop in the bucket. With the huge foreign demand in some countries that understand gold/silver values, there would always be a market to sell to even if a confiscation took place. Even in FDR's days, many sold their stashes to Europe. That is why every now and then a stash of BU double eagles will get found in a bank vault over there and come to market. Doesn't happen as much today as it did in past years, but still does occur.

As I said in my post, if things got so bad they did try to take your gold and silver, they would probably be taking everything you own as well. I am pointing this out because some use the confiscation issue to try and scare people from owning gold/silver, which would be a bad idea because many will miss the run up and chance to cash out later at a large profit (before any possible confiscation would take place). As long as the dollar still exists and is the world reserve currency, you can forget about confiscation. Even if the dollar loses its status as reserve currency, all other fiats will be losing value along with ours. Maybe at some point they will come out with a new currency with some metal backing to it, and you will be offered the chance (nice words for confiscation ) to trade your gold/silver for it. Perhaps that might be a good time to sell and would be the end of the bull market in PMs anyway. Just all my speculation and opinion of course.


Jim

 

[clovis97]

Re: CRH finds & more and gov. confiscation

Hi All,
Yes, yes, yes, Roosevelt did. But most folks during the Great Depression were more worried about feeding their families then even thinking about gold--which they did not have to begin with--few folks in the south every viewed--let along owned a gold coin. Roosevelt had it out for the Rockefellers, Duponts--etc--those who were Hoover supporters and were very wealthy. Course FDR was wealthy, too. He was targeting big money--not folks like us (well--folks like me in the modern sense). There were lots of Roosevelt haters--especially the AFC--who also opposed the US entering the war in Europe--then most became FDR supporters with the bombing of Pearl Harbor.

I know most here on this forum hate FDR, but I do believe--yes, nail me up--he helped to save democracy. Disagree with me all you can, but that is what makes our country special--that is, I can have my opinion and remain free at the same time.

There are laws that are on the books that most Americans just ignore. Most ignored that one as well. Yes, I am pro-Roosevelt for many, many reasons. Lest us forget, he also helped to promote women to participate in a war effort more fully than any war prior or since. Course, he was not so great on civil rights. I could go on and on, but I shall stop now and focus on the task at hand: CRH.

Happy Silver Hunting,
apush

Apush,
It wasn't just in the South that people didn't have gold coins. I was lucky to have grandparents that lived well into their 90's, and I asked them about the use of gold coins. They both said that they only saw them used in pendants, usually worn by young girls. Had nothing to do with being rich or poor, gold coins simply did not circulate like paper money or silver coins,at least not up here in Hartford.
Rich

My grandparents lived through the depression. My grandfather was one of the best story tellers ever to live, and he loved talking about the 'old days'.

One of his favorite stories to tell was about the calling in of the gold, and how it was such big news on the radio and in the papers.

He and my grandmother would laugh at the end of that story, because no one they knew even owned any gold, either in jewelry or in coin.

 

[clovis97]

Re: CRH finds & more and gov. confiscation

I have no problem with FDR.. after all he is on the Roosevelt dime. If he was such a bad president like Bush Jr., he never would've ended up on a U.S. coin. All the FDR haters should just send their Roosie keepers back into the wild. He got elected 3 times folks.

He actually was elected 4 times...'32, '36, '40 and '44.

He served 3 full terms, and died during his fourth. He died in April of 1945, right?

At any rate, it is hard to imagine that if FDR had lived for the full four terms, he would have been president from 1932 to 1948!