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Posted: 7/27/2011 1:56:16 AM EDT
In case some might have not known gold ownership has been banned before. FDR's Executive Order 6102 from Wikipedia

$50 dollar bracket for your guess. I'm going with between $1800 and $1850. Remember, this is Obama in question.

Regardless? We are in a wild ride. Not "in for" a wild ride...IN a wild ride.
Link Posted: 7/27/2011 1:58:09 AM EDT
[Last Edit: 7/27/2011 1:59:43 AM EDT by scottedward58]
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.
Link Posted: 7/27/2011 1:58:55 AM EDT
Originally Posted By scottedward58:
2000


Au2K.
Link Posted: 7/27/2011 2:01:13 AM EDT
Tag
Link Posted: 7/27/2011 2:03:22 AM EDT
Originally Posted By Pike:
Originally Posted By scottedward58:
2000


Au2K.


Link Posted: 7/27/2011 2:08:15 AM EDT
Originally Posted By Merrell:
Originally Posted By Pike:
Originally Posted By scottedward58:
2000


Au2K.






If I am ever Site Staff [after my Powerball win]  I will perma-ban you as my first act on Y2K GP alone.

Y2K is older than death.

Get with Au2K. You only date yourself with the Y2K stuff.
Link Posted: 7/27/2011 2:09:03 AM EDT
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


I'm going with this.
Link Posted: 7/27/2011 2:09:34 AM EDT
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


If it's in American Eagles, it can't be taxed anyway.

Link Posted: 7/27/2011 2:13:43 AM EDT
[Last Edit: 7/27/2011 2:18:20 AM EDT by scottedward58]
Originally Posted By Merrell:
Originally Posted By Pike:
Originally Posted By scottedward58:
2000


Au2K.




What, you don't think that if gold makes it to 2K an ounce that the govt. won't try to outlaw it? If gold makes it to 2000 the govt. won't be able to pretend inflation doesn't exist anymore, it will put inflation on the front page. There will be news story after news story showing how ten years ago you could get this, this, and that for this much but now it won't even buy this. The govt. will have to correct their inflation numbers and that will show that we will have had a negative GDP for years, that all the stimulus, spending and bull have done nothing and that we are in a massive depression that is only hidden by UI and welfare. During the great depression it was obvious how bad off we were, people without jobs were faces in a soup line not numbers on the TV.
Link Posted: 7/27/2011 2:14:10 AM EDT
I'm thinking they won't panic unless it reaches 2200 or 2300, then they'll start making "Michael Moore" type excuses to seize gold. "They’re sitting on the money” “That’s not theirs, that’s a national resource, that’s ours"
Link Posted: 7/27/2011 2:15:34 AM EDT
Originally Posted By cosmo05:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


If it's in American Eagles, it can't be taxed anyway.



Only paying taxes on the face value is a tax dodge the IRS has been going after.
Link Posted: 7/27/2011 2:22:08 AM EDT



Originally Posted By cosmo05:



Originally Posted By scottedward58:

2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.




If it's in American Eagles, it can't be taxed anyway.





Is this true? I thought you're liable for any gains in the value to the gold when you sell.

 
Link Posted: 7/27/2011 2:25:23 AM EDT



Originally Posted By scottedward58:



Originally Posted By cosmo05:


Originally Posted By scottedward58:

2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.




If it's in American Eagles, it can't be taxed anyway.







Only paying taxes on the face value is a tax dodge the IRS has been going after.
I'm not sure that they want to pick that fight.  I get taxed on 'x' dollars a year when I know damn well that that amount is not worth what it was 10 years ago.  Adjusting for inflation is not something that is in the IRS's best interest.





 
Link Posted: 7/27/2011 2:32:16 AM EDT
[Last Edit: 7/27/2011 2:37:29 AM EDT by Pike]
I digressed.
Link Posted: 7/27/2011 2:39:10 AM EDT
Besides the AEs that say "US Dollar" on them, how could they ban gold bullion when our currency is no longer tied to it? That's like banning diamonds.
Link Posted: 7/27/2011 2:51:18 AM EDT
Originally Posted By scottedward58:
........During the great depression it was obvious how bad off we were, people without jobs were faces in a soup line not numbers on the TV.


Yeah and the folks in those lines or at home eking out a living doing odd jobs and eating lard sandwiches and beans every day because they were too proud to stand in the lines did not have a  obesity problem like the "poor" of today.

Link Posted: 7/27/2011 2:55:50 AM EDT
Doubt it could happen in today's world....As it's been said currency is no longer tied to the gold standard.
Link Posted: 7/27/2011 2:57:49 AM EDT
[Last Edit: 7/27/2011 3:18:35 AM EDT by Pike]
Originally Posted By Mazeman:
Besides the AEs that say "US Dollar" on them, how could they ban gold bullion when our currency is no longer tied to it? That's like banning diamonds.


As far as a gold ban, our currency isn't tied to guns, cherry bombs, whiskey or m-80's either and they've all been banned.

Diamonds are carbon and are highly variable in "value". I hardly ever see them discussed in business news. I don't ever see signs trying to buy your "used diamonds". Try to sell a diamond on Ebay.

If the average American could exchange the cost of the diamond they bought their wife for the amount of gold at the market price when they bought the diamond?

The Indians have it right. Gold.
Link Posted: 7/27/2011 3:03:14 AM EDT
Originally Posted By cosmo05:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


If it's in American Eagles, it can't be taxed anyway.



Please........PLEASE people........do NOT follow this advice.
Link Posted: 7/27/2011 3:53:29 AM EDT
you people herped when you should've derped.
Raise your hand, how many here know we don't have the gold standard anymore.
Hoarding gold nowadays has no more effect on the economy than hording ammo or MRE's
If they wanna steal yo shit they don't even have to use a gun. Just print up a gajillion dollars in monopoly money and through the magic of "inflation"
they confiscate the wealth of ALL people who have to use said "monopoly" for transactions.
DOY!
Link Posted: 7/27/2011 6:30:39 AM EDT
[Last Edit: 7/27/2011 6:32:00 AM EDT by douglasmorris99]
if the Gov, Congress, with an agreeable POTUS..will once again ban the private ownership of Gold. Confiscation will follow
a mandated "window" to turn in your stores at the set price per ounce stated in FDR's EO..., it was never recinded..only countermandated.
as we are no longer on the gold standard, or silver standard, they will go after all precious metals to refill the larders of what is beleived to be the empty vaults of Ft Knox.


dont think it cant happen
dont think an oppressive GOV wont lock you up for the "good of the whole"

Wilson did it. FDR Did it. and LBJ at least thought of it...Jimmy Carter would have walked the Jews back to showers in Beirkenow in a minute..and OBAMA
and his ilk will have no problem lining up mass graves in your local Football Stadium...

CHEF
Link Posted: 7/27/2011 6:34:41 AM EDT
[Last Edit: 7/27/2011 6:54:29 AM EDT by 4v50]
$3k.  Bank holiday will be declared, freezing all assets.  If you can't withdraw money, you can't buy gold.  They then devalue your currency and limit your daily withdraw of cash from the bank. Argentina did it that way.  Read Fernando Aguirre's (Arfcom member Ferfal) book.  If you want to learn from the Argentinians, another good one to listen to is Adrian Salbuchi.

BTW, I don't think there's a need to confiscate gold.  Back in the '30s, the Federal Reserve had issued more gold certificates than they had gold on hand.  To prevent a run on the gold and devaluation of the dollar, FDR ordered the gold certificates and gold to be surrendered.  Right after they felt they had most of the nation's gold, they re-adjusted the value from $20.26 (or so cents) to $35 an ounce.  That realized a 175% mark-up.  Thus, folks who had patriotically surrendered their gold suffered a loss.  Ph*ck Wilson.  Ph*ck FDR.  Ph*ck man-child emperor.
Link Posted: 7/27/2011 6:40:46 AM EDT
It won't.

In the 1930s, gold was still very important to the government.

Today?  Even if you put aside the questions raised about our gold stash in Fort Knox being gone, all the gold we have is a tiny fraction of the amount of money outstanding.

The only way I see gold being banned again is in either a true hyperinflationary environment and/or much more of a police state where exhorbitant taxes are levied for everything and the movement of money is much more tracked.  If we get to that point, gold being banned will be the least of our worries.
Link Posted: 7/27/2011 6:48:17 AM EDT
Gold isn't money, it's a tradition. Now why would they want it?
Link Posted: 7/27/2011 6:50:59 AM EDT
Originally Posted By Mazeman:
Besides the AEs that say "US Dollar" on them, how could they ban gold bullion when our currency is no longer tied to it? That's like banning diamonds.


In case you haven't noticed, the government has criminalized the possession of any number of materials, and even classes of molecules.
Link Posted: 7/27/2011 7:10:05 AM EDT
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


This is sort of it.

No matter what threats they make, when the time comes, I hope no one here surrenders/reports their gold.
Link Posted: 7/27/2011 7:28:48 AM EDT
[Last Edit: 7/27/2011 7:46:16 AM EDT by XRAX]
Gold has no real value to the government.

Your retirement account, on the other hand, is now under review...
Link Posted: 7/27/2011 7:40:11 AM EDT
[Last Edit: 7/27/2011 7:42:34 AM EDT by TxLewis]
Originally Posted By scottedward58:
Originally Posted By cosmo05:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


If it's in American Eagles, it can't be taxed anyway.



Only paying taxes on the face value is a tax dodge the IRS has been going after.


American eagles are currency


TXL
Link Posted: 7/27/2011 7:42:25 AM EDT
[Last Edit: 7/27/2011 7:46:28 AM EDT by Lowjack545]
dollars are no longer gold backed and like Bernanke said its tradition, so there is no reason for government to confiscate gold, it is not a strategic metal
i lol so hard at Ron Paul's face at 44 sec

in 1980 gold/dow ratio was 1 to 1 and they didnt confiscate.    so over $12K?





 
Link Posted: 7/27/2011 7:44:34 AM EDT
I don't think they will do it ..................unless they raid 401k/IRAs , then anything is up for grabs.



Although I'm quite curious how they'll find my binder of gold :D
Link Posted: 7/27/2011 7:45:56 AM EDT
Originally Posted By AR4U:
Originally Posted By Mazeman:
Besides the AEs that say "US Dollar" on them, how could they ban gold bullion when our currency is no longer tied to it? That's like banning diamonds.


In case you haven't noticed, the government has criminalized the possession of any number of materials, and even classes of molecules.


I've mentioned this ins the Survival Forum before, but, during the Great Depression, it was common to hear on the radio news reports of people 'hoarding food' and demonizing people for hoarding.

Neighbors were encouraged to report people for hoarding.

"The needs of the many, outweigh the needs of the few."

TRG

Link Posted: 7/27/2011 7:48:22 AM EDT
Originally Posted By Mazeman:
Besides the AEs that say "US Dollar" on them, how could they ban gold bullion when our currency is no longer tied to it? That's like banning diamonds.


The same way that they ban some recreational drugs, or incandescent light bulbs, or toilets that use more the approved amount of water, or Skylines that aren't the exact model that was approved. If "they" decide that it is not good for us, or bad for them, they will force their rule upon the people.
Link Posted: 7/27/2011 7:51:29 AM EDT
All they need to do is have the FDA classify GOLD as a Schedule 1 controlled substance.

Problem solved
Link Posted: 7/27/2011 8:00:51 AM EDT
What is it about gold that makes people go full retard?
Link Posted: 7/27/2011 8:04:04 AM EDT



Originally Posted By Sixpack595:


What is it about gold that makes people go full retard?


$1600 a ounce ;)



 
Link Posted: 7/27/2011 8:07:12 AM EDT
Originally Posted By MIDGAPATRIOT:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


I'm going with this.


How is that any different than someone owning 1000 shares of a non-dividend paying stock?
Link Posted: 7/27/2011 8:08:17 AM EDT
[Last Edit: 7/27/2011 8:10:40 AM EDT by cosmo05]
Originally Posted By Mazeman:

Originally Posted By cosmo05:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


If it's in American Eagles, it can't be taxed anyway.


Is this true? I thought you're liable for any gains in the value to the gold when you sell.  


Only if it's American Eagles.  I have asked that question repeatedly to my broker and the answer is always the same.  No.

ETA No=not taxed.
Link Posted: 7/27/2011 8:09:15 AM EDT
Originally Posted By GeorgeInNePa:
Originally Posted By MIDGAPATRIOT:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


I'm going with this.


How is that any different than someone owning 1000 shares of a non-dividend paying stock?


Those 1000 shares wont be worth shit after the .gov confiscates it; Gold, on the other hand, will retain it's value.
Link Posted: 7/27/2011 8:09:46 AM EDT
Originally Posted By TxLewis:
Originally Posted By scottedward58:
Originally Posted By cosmo05:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


If it's in American Eagles, it can't be taxed anyway.



Only paying taxes on the face value is a tax dodge the IRS has been going after.


American eagles are currency


TXL


Yea, that's the bottom line.
Link Posted: 7/27/2011 8:13:11 AM EDT
[Last Edit: 7/27/2011 8:13:24 AM EDT by Lowjack545]





Originally Posted By Sixpack595:



What is it about gold that makes people go full retard?



well women have always liked gold because its pretty, doesn't tarnish, doesn't break down and is scarce





paper on the other hand:





deteriorates


can be used for lighting fires


can be used for toiletries


can be used for writing on





paper will return to its mean value


gold has a consistent value over history





 
Link Posted: 7/27/2011 8:14:44 AM EDT
[Last Edit: 7/27/2011 8:14:56 AM EDT by callgood]
Originally Posted By Sixpack595:
What is it about gold that makes people go full retard?

It's the stuff that dreams are made of.

Link Posted: 7/27/2011 8:15:19 AM EDT
Originally Posted By cosmo05:
Originally Posted By TxLewis:
Originally Posted By scottedward58:
Originally Posted By cosmo05:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


If it's in American Eagles, it can't be taxed anyway.



Only paying taxes on the face value is a tax dodge the IRS has been going after.


American eagles are currency


TXL


Yea, that's the bottom line.


Concur.  Remember that fellow in Las Vegas who paid his employees in gold?  He reported the face value on their 1099 forms and they dutifully reported the same on their income taxes.   The IRS tried a slapdown, citing tax evasion by not claiming the market value of the gold when paid.  However, the court held that $20 gold is still $20 in currency.  Woo hoo!  That case decision has far reaching consequences.
Link Posted: 7/27/2011 8:24:05 AM EDT
Originally Posted By Sixpack595:
What is it about gold that makes people go full retard?


Its a store of value that is not changed by some bank system that prints money to show they are not bankrupt.

TXL
Link Posted: 7/27/2011 8:32:51 AM EDT
Originally Posted By Shockergd:
I don't think they will do it ..................unless they raid 401k/IRAs , then anything is up for grabs.

Although I'm quite curious how they'll find my binder of gold :D


Unless some miracle happens, the govt will sieze 401(k)/IRAs. Been saying it for years now.

Remember, the govt will do whatever it has to in order to protect itself. Self-interest trumps "tomorrow" or re-election any day of the week.

They wil commit any sin....just to make it through the day.
Link Posted: 7/27/2011 8:33:29 AM EDT
Originally Posted By caexpat:
It won't.

In the 1930s, gold was still very important to the government.

Today?  Even if you put aside the questions raised about our gold stash in Fort Knox being gone, all the gold we have is a tiny fraction of the amount of money outstanding.

The only way I see gold being banned again is in either a true hyperinflationary environment and/or much more of a police state where exhorbitant taxes are levied for everything and the movement of money is much more tracked.  If we get to that point, gold being banned will be the least of our worries.


I gotta go with this.  Considering the size of the US economy, confiscating gold would be like relying on the lost pennies and dimes under the sofa to pay your mortgage.  You can try it, but at that point you're so fucked you may as well not waste your time.


Link Posted: 7/27/2011 8:43:51 AM EDT
Originally Posted By Veracity:
Originally Posted By Shockergd:
I don't think they will do it ..................unless they raid 401k/IRAs , then anything is up for grabs.

Although I'm quite curious how they'll find my binder of gold :D


Unless some miracle happens, the govt will sieze 401(k)/IRAs. Been saying it for years now.

Remember, the govt will do whatever it has to in order to protect itself. Self-interest trumps "tomorrow" or re-election any day of the week.

They wil commit any sin....just to make it through the day.


They have already tested the waters on the issue.

I think that is a 'nuclear option' for the Feds that neither party is willing to attempt until absolute power rests in one party.  

To do it now would be political suicide.

TRG
Link Posted: 7/27/2011 8:47:04 AM EDT
Originally Posted By TheRedGoat:
Originally Posted By Veracity:
Originally Posted By Shockergd:
I don't think they will do it ..................unless they raid 401k/IRAs , then anything is up for grabs.

Although I'm quite curious how they'll find my binder of gold :D


Unless some miracle happens, the govt will sieze 401(k)/IRAs. Been saying it for years now.

Remember, the govt will do whatever it has to in order to protect itself. Self-interest trumps "tomorrow" or re-election any day of the week.

They wil commit any sin....just to make it through the day.


They have already tested the waters on the issue.

I think that is a 'nuclear option' for the Feds that neither party is willing to attempt until absolute power rests in one party.  

To do it now would be political suicide.

TRG



Right you are, sir.

And remember, they will not steal them, they will be "protecting" them.
Link Posted: 7/27/2011 8:50:01 AM EDT
Originally Posted By Veracity:
Originally Posted By TheRedGoat:
Originally Posted By Veracity:
Originally Posted By Shockergd:
I don't think they will do it ..................unless they raid 401k/IRAs , then anything is up for grabs.

Although I'm quite curious how they'll find my binder of gold :D


Unless some miracle happens, the govt will sieze 401(k)/IRAs. Been saying it for years now.

Remember, the govt will do whatever it has to in order to protect itself. Self-interest trumps "tomorrow" or re-election any day of the week.

They wil commit any sin....just to make it through the day.


They have already tested the waters on the issue.

I think that is a 'nuclear option' for the Feds that neither party is willing to attempt until absolute power rests in one party.  

To do it now would be political suicide.

TRG



Right you are, sir.

And remember, they will not steal them, they will be "protecting" them.


come on, if they don't steal it by taxes, they will at least issues you some "Backed by the full faith and credit" of the .gov retirement certificate.....

TXL
Link Posted: 7/27/2011 9:20:38 AM EDT
[Last Edit: 7/27/2011 9:23:08 AM EDT by GeorgeInNePa]
Originally Posted By Renegade13B:
Originally Posted By GeorgeInNePa:
Originally Posted By MIDGAPATRIOT:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


I'm going with this.


How is that any different than someone owning 1000 shares of a non-dividend paying stock?


Those 1000 shares wont be worth shit after the .gov confiscates it; Gold, on the other hand, will retain it's value.


You don't think they can confiscate gold too?
Link Posted: 7/27/2011 9:24:26 AM EDT
Originally Posted By TxLewis:
Originally Posted By Veracity:
Originally Posted By TheRedGoat:
Originally Posted By Veracity:
Originally Posted By Shockergd:
I don't think they will do it ..................unless they raid 401k/IRAs , then anything is up for grabs.

Although I'm quite curious how they'll find my binder of gold :D


Unless some miracle happens, the govt will sieze 401(k)/IRAs. Been saying it for years now.

Remember, the govt will do whatever it has to in order to protect itself. Self-interest trumps "tomorrow" or re-election any day of the week.

They wil commit any sin....just to make it through the day.


They have already tested the waters on the issue.

I think that is a 'nuclear option' for the Feds that neither party is willing to attempt until absolute power rests in one party.  

To do it now would be political suicide.

TRG



Right you are, sir.

And remember, they will not steal them, they will be "protecting" them.


come on, if they don't steal it by taxes, they will at least issues you some "Backed by the full faith and credit" of the .gov retirement certificate.....

TXL


Uh... well, they have already proposed a couple of ideas that are almost exactly as you described.  

If the stock market tanks again, I expect the will try again to confiscate, I mean 'convert' your stock positions, IRAs, etc to a government SS check.

I think the backdoor lending of 16 TRILLION is what caused the market to keep going up and up and UP in spite of the negative economic news that we keep seeing.

It is a self-licking ice cream cone.

TRG
Link Posted: 7/27/2011 9:26:00 AM EDT
Originally Posted By GeorgeInNePa:
Originally Posted By Renegade13B:
Originally Posted By GeorgeInNePa:
Originally Posted By MIDGAPATRIOT:
Originally Posted By scottedward58:
2000 Once it breaks 2000 the govt. will see how much money is tied up that they can't tax until it's sold.


I'm going with this.


How is that any different than someone owning 1000 shares of a non-dividend paying stock?


Those 1000 shares wont be worth shit after the .gov confiscates it; Gold, on the other hand, will retain it's value.


You don't think they can confiscate gold too?


'They' ...?

You mean 'establish hotlines with rewards offered for Tips on Citizens Hoarding Resources', right?

Because that has been done before.

Most people forget that during WWII, that the Greatest Generation had NO problem with ration cards and turning in hoarders.

TRG
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