Hedge fund warning. Owning gold could be banned?
The manager of a gold hedge fund has warned that governments have banned owning gold in the past and could do it again if a rush for “the oldest currency in the world” undermines efforts to resurrect the financial system.
...
He said: “The worst thing for any kind of central banking crisis is everyone buying the oldest currency in the world. Buying gold is a clear sign that investors don’t have confidence in the financial system."
He said that the problem at the moment was that too many people had too much debt and that central banks hoping to address this could devalue everything else in the system.
The fear for anyone who is in credit is that the financial system could become geared towards negating debt which, in turn, would destroy the value of their assets. One way of bypassing this threat is to buy gold.
However a general shift to gold would undermine the power of central banks and their influence on the economy.
http://www.investegate.co.uk/invarticle.aspx?id=58539
Get ready to start hiding your nugget's
Actually I just faxed that article
to Jim Sinclair and asked him his opinion of the likelyhood of an event like that. It will be interesting to see if he answers.
That way they can 'legislate' confidence.
Nothing says "we're stable" like banning private ownership of gold!
Hey everybody! Turn in all your gold here.. at my house. I'll make sure it gets to the proper authorities.
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
A shift to gold would undermine the power of the central banks..
sounds good to me, let's go buy some more.
YES!
Let's keep buying Gold and Silver.
Let's crank up the price of Gold to $1200+/ounce.
That way we hold our purchasing power, while the financial and investment markets get sorted out.
I'm surprised that Gold is lower now than it was at the beginning of the year, with all the turmoil going on.
I read it could go to 2000.
~Mikael / Peace, love, Light and unity ~
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Stop the NWO....It's just illumi..Naughty !
If gold becomes an
If gold becomes an acceptable currency, er "money" again, then people would have no need for banks. They could save and then invest in businesses without the middlemen.
grant
Link goes to "Service Error"
any other links?
PyraBang for Liberty
PyraBang for Liberty
Look under latest news in the middle.
The link works fine for me.
But try here.
http://www.kitco.com/
He's wrong.
Gold is not currency, it is money. Currency is a derivative of money--it is the paper representation of money.
At this point, I kind of hope that they try to come to take my gold.
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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seriously, no you don't
Really, today was the day. If that was not enough to bring the American people screaming into the streets, we need to settle all this "r3volution" talk down. They WILL come take your gold, right after they take YOU for being home-grown and radical.
At least we get to keep our guns for hunting, we will need them.
Truth exists, and it deserves to be cherished.
I'm seeing this on other sites too ?
~Mikael / Peace, love, Light and unity ~
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Stop the NWO....It's just illumi..Naughty !