Gold Revaluation is more than a possibility. It's a freight train! Obama Style
Submitted by SteveMT on Thu, 01/15/2009 - 00:14Stewart Thomson
Jan 14, 2009
Here's a quotation from President Obama: "There's a new book out about FDR's first 100 days and what you see in FDR that I hope my team can emulate, is not always getting it right, but projecting a sense of confidence, and a willingness to try things. And experiment in order to get people working again."
The highlight of President Roosevelt's first 100 days in office? On April 5, 1933, one month after taking office, he announced his blockbuster:
Executive Order 6102. Claiming authority from the "War Time Powers Act" of 1917, President Roosevelt put total control of the American gold market into the hands of the US Treasury. American citizens were ordered to sell their gold. All of it.
The US govt cannot "juice up" the economy without a drastic cut in the value of the US dollar. If the citizens, and perhaps global citizens, respond to that cut by hoarding gold instead of spending cash on company products, there is no restart. There is a wipeout.
A halt of the new purchase of gold is a prime purpose of a gold revaluation.
http://www.321gold.com/editorials/thomson_s/thomson_s_011409...
They were ordered to sell gold because it backed the currency
I don't think gold is in any danger.
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Yes, we really have a fiat
Yes, we really have a fiat currency. Now the prices of gold/silver are irrelevant to how much money/credit is created.
I expect if the pres. is going to "experiment", it will be along the lines of civil rights restrictions.
Just to be safe, it's probably wise to have physical gold instead of the GLD equity. GLD and DGP may be for trading, but they are not for personal security.
Mike, I think you're right! If they do try it again, it
won't work this time around, as too many sheep are awake!
hjschaapman
The Winds of Change!
No, they will just use
another method of gold confiscation. It's called poverty. Mail in your gold for cash, on tv and in the malls. They got it covered.
I seen a lot more of that lately, and in the newspapers also.
Question: Is silver better to own? Could they also confiscate silver? Should we get platinum or palladium? How far do we take this and how far will they go?
Gold could become worth a
Gold could become worth a lot more quickly tho!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
Oh how I wonder, oh how I worry
And I would dearly like to know
How all this squander of earthly plunder
will leave us anything to show