Obama Could Confiscate Gold

Discussion in 'Politics' started by dvinman, Jun 14, 2010.

  1. dvinman
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    dvinman VIP Member

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    Speaking at the FT Silver conference in London yesterday, lead-off speaker John Levin, HSBC Bank's Managing Director, Global Metals and Trading (HSBC is one of the world's top precious metals traders and its vaults in the U.S. and Europe hold huge holdings of gold and silver bullion) recounted conversations with some of the U.S.'s top asset managers controlling massive amounts of capital asking if HSBC had the capacity in its vaults to store major gold purchases. On being told that the bank's U.S. vaults had sufficient space available he was told that they did not want their gold stored in the U.S.A. but preferably in Europe because they feared that at some stage the U.S. Administration might follow the path set by Franklin D. Roosevelt in 1933 and confiscate all U.S. gold holdings as part of the country's strategy in dealing with the nation's economic problems.
    Mineweb.com - The world's premier mining and mining investment website Weekend Top Story: U.S. asset managers worried Obama could confiscate gold - POLITICAL ECONOMY | Mineweb
     
  2. editec
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    editec Mr. Forgot-it-All

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    When the USA forced the US people to sell their gold (at a loss) to the government it did NOT confiscate the gold owned by other nations which was stored in US bank vaults.

    That WAS a black day, in my opinion, for America, BTW.

    One of the uglier aspects of FDR's administration.
     
  3. VaYank5150
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    VaYank5150 Gold Member

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    Ummm, so?
     
  4. Mini 14
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    Mini 14 Senior Member

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    <b l a n k s t a r e>
     
  5. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    I think Obama is going to confiscate everyones guns first.

    Gold is further down the list
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    VaYank is trying to get Rahm Emanuels attention by be the Broad's biggest fucking retard
     
  7. VaYank5150
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    VaYank5150 Gold Member

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    Hey....Obama COULD launch a nuclear attack against Alaska, too. Why not start a dumbass thread about that?
     
  8. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Maybe Obama is trying to walk in FDR's shoe and get unemployment back to 15, 16, 17+%?
     
  9. VaYank5150
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    VaYank5150 Gold Member

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    Still working on that thread, LiarFrank?
     
  10. The Rabbi
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    The Rabbi Diamond Member

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    And who said Obama was a total failure?
     

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