Comment: Correct

(See in situ)


Correct. Gold was confiscated in the 1930s in order to expand the monetary base where the dollar was theoretically 'gold backed'. The monetary base was doubled between 1933 and 1938. But I imagine they might want to create a new dollar after total devaluation and back it by something like gold or federal land holdings (ie Weimar Germany).

If they want to confiscate gold, what they'll do is slap a MASSIVE tax on its sale, then "offer" to buy it from the public, tax free. The herd will go for this.

I am very, very worried about government taking over 401ks and IRAs under the guise of "pension security", then forcing investment in Treasuries at 3% to prevent a Treasury collapse. Socialist Theresa Ghialarducci has Obama's ear on this one.