Gold is the constant...

[Big Fitz]

Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins. These prohibitions were relaxed starting in 1964 – gold certificates were again allowed for private investors on April 24, 1964, although the obligation to pay the certificate holder on demand in gold specie would not be honored. By 1975 Americans could again freely own and trade gold.

Gold Reserve Act - Wikipedia, the free encyclopedia

Now this

Liberty Dollars may be subject to seizure

Liberty Dollars may be subject to seizure | CoinWorld

Let's hear it for FDR's fascism-lite. From the forcibly relocated Japanese to seizing gold like they did in 1937. The statists don't want you to be free.

 

[sjay]

Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins. These prohibitions were relaxed starting in 1964 – gold certificates were again allowed for private investors on April 24, 1964, although the obligation to pay the certificate holder on demand in gold specie would not be honored. By 1975 Americans could again freely own and trade gold.

Gold Reserve Act - Wikipedia, the free encyclopedia

why is is illegal to own gold asks sparky.

Care to respond sparky?

 

[OohPooPahDoo]

I had an epiphany today.

Having been born long after the sunset of the gold standard backing currency, in my mind I think of the dollar as being the constant and gold value increasing...but in reality, gold is the constant.

Consider golds value is always the same, but as the dollar is deminished, it takes more to buy the same amount of gold.

Now this may be common knowledge to most of you, but to me it was a completely new and unsettling perspective of the devaluation of the dollar.

But gold's value hasn't always been the same. The price of gold FELL in the early 80's. If gold's value was constant, it should have gone up with the inflation of the early 80's

So your entire premise is just wrong.

 

[B94]

Gold only has a value that we place on it. Some times people place more value on it than other times.
The more federal reserve notes printed the less they are worth compared to other things - in general.

 

[OohPooPahDoo]

The more federal reserve notes printed the less they are worth compared to other things - in general.

That depends on the velocity of the money as well. You can print as many notes as you want - if people are hoarding them - no inflation.

 

[OohPooPahDoo]

Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins. These prohibitions were relaxed starting in 1964 – gold certificates were again allowed for private investors on April 24, 1964, although the obligation to pay the certificate holder on demand in gold specie would not be honored. By 1975 Americans could again freely own and trade gold.

Gold Reserve Act - Wikipedia, the free encyclopedia

Now this

Liberty Dollars may be subject to seizure

Liberty Dollars may be subject to seizure | CoinWorld

Let's hear it for FDR's fascism-lite. From the forcibly relocated Japanese to seizing gold like they did in 1937. The statists don't want you to be free.

I've never required gold to secure my freedom.

 

[sparky]

Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins. These prohibitions were relaxed starting in 1964 – gold certificates were again allowed for private investors on April 24, 1964, although the obligation to pay the certificate holder on demand in gold specie would not be honored. By 1975 Americans could again freely own and trade gold.

Gold Reserve Act - Wikipedia, the free encyclopedia

why is is illegal to own gold asks sparky.

Care to respond sparky?

ask the Hunt family>
Silver Manipulation the

 

[sparky]

Let’s be clear about terminology here. Owning something means that you are the legal owner of that thing. It is your property and your rights as legal owner can be enforced by a court of law regardless of what misfortune might come upon the company that you bought it from or contracted to store it for you.
In contrast to owning something, you can also be owed something. For example, you may have invested in a gold bullion certificate program that “guarantees” you the right to redeem your certificates for physical bullion. In that scenario, you don’t legally own any bullion. You own certificates, and the company that sold you the certificates owes you physical bullion if you ask them to redeem those certificates.

What many investors don’t realize is that even when the company in question has all the gold they claim to have, you’re still not the legal owner of that gold until you redeem your certificates. If that company should ever go bankrupt, you will become a general creditor in bankruptcy court. If the company really had enough gold to cover all the deposits of all their customers (and by the way, many of them don’t), then you might stand a reasonably good chance of getting your gold. Some day, after a long, drawn-out bankruptcy proceeding and considerable legal costs.[/SIZE]

So you think you own Gold? Understanding the nuances of paper vs. physical and allocated vs. unallocated metal | Erik Townsend | FINANCIAL SENSE

 

[editec]

Gold is a constant only in the sense that an oz of gold today is the same as an oz of gold was yesterday.

What one can buy with it, how much people covet it, however, changes depending on circumstances of the moment.

In the Loooooooooooooooooooooooong run, however, gold has been a recognized thing of value for thousands of years.

But then too, so has a been BEER or bread.

The primary difference between food and gold is that food perishes while gold does not.

Gold has that CONSTANCY which makes it an excellent way to retain something of value in uncertain times.

 

[NGSamson]

Have Gold= Happy

You have gold and no food.

I have food and no use for a hunk of yellow metal.

You starve while I get fat.

How happy did that gold make you?

I have Gold AND food,
anytime I like,
I can go somewhere else in the world and exchange Gold for my Needs,

If you had the chance to own gold and silver are you implying you wouldn't take that opportunity?

No. I dont plan on going anywhere else in the world, and gold is heavy. I can get more value out of a box of .223 and a 10 lb sack pf beans in any shtf scenario. I also was told that the gold bubble will bust at some point.

 

[editec]

You have gold and no food.

I have food and no use for a hunk of yellow metal.

You starve while I get fat.

How happy did that gold make you?

I have Gold AND food,
anytime I like,
I can go somewhere else in the world and exchange Gold for my Needs,

If you had the chance to own gold and silver are you implying you wouldn't take that opportunity?

No. I dont plan on going anywhere else in the world, and gold is heavy. I can get more value out of a box of .223 and a 10 lb sack pf beans in any shtf scenario. I also was told that the gold bubble will bust at some point.

When the gold bubble bursts so too will the value of your END OF CIVILZATION survivalist supplies decline.

Still, I applaude your foresight to prepare for such an unlikely event.

Basically the difference between a gold bugs hoard of gold and a suvivalists supply cashe are based on two different scenarios for how society collapses.

The gold will come in handy if society collapses slowly enough that the market continues to thrive but the supply of goods diminishes greatly.

The arms and food will in handy when/if that market collapses entirely and production pretty much stops entirely.

 

[NGSamson]

I have Gold AND food,
anytime I like,
I can go somewhere else in the world and exchange Gold for my Needs,

If you had the chance to own gold and silver are you implying you wouldn't take that opportunity?

No. I dont plan on going anywhere else in the world, and gold is heavy. I can get more value out of a box of .223 and a 10 lb sack pf beans in any shtf scenario. I also was told that the gold bubble will bust at some point.

When the gold bubble bursts so too will the value of your END OF CIVILZATION survivalist supplies decline.

Still, I applaude your foresight to prepare for such an unlikely event.

Basically the difference between a gold bugs horade of gold and a suvivalists supply cashe is based on two different scenarios for how society collapses.

The gold will come in handy if society collapses slowly enough that the market continues to thrive but the supply of goods diminishes greatly

The arms and food will in handy when/if that market collapses entirely and production pretty much stops entirely.

Na, not a survivalist and I buy stuff like beans and rice in bulk. Do that with all my staples. I just dont see it as valuable to me. And when you sell it you wont get what you paid for it.

 

[sparky]

I'd rather have a sack of potatoes than be an unsecured creditor to the banksters holding all the gold notes when the economy crashes

note i said when, and i got that from a J.P. Morgan article

too big to fail has a marked penchant for suckin' investors into the malestrom, which is how it maintains it's status

google it yourselves , or just keep advocating QE 2,3, 99 to protect it all.....


~S~