> General Discussions
End Time Prophecies
Dennis Vogel:
There's a lot of paper gold too: https://youtu.be/zpJLARG-GEc
indianabob:
Interesting story about gold derivatives and so forth, but over my head.
Question: is it presently legal for citizens to own and hold privately gold bullion or coins or either one?
If we have real gold buried in the back yard we have some semblance of protection from abject poverty.
Provided... we can actually spend it for food and shelter and that depends upon whether any one will accept it.
Provided also that the government doesn't find out and confiscate the metal...by court order.
Of course our U. S. government officials would never do that to a loyal citizen. Right?
::) ::)
Dennis Vogel:
--- Quote from: indianabob on July 16, 2019, 11:51:51 PM ---Interesting story about gold derivatives and so forth, but over my head.
Question: is it presently legal for citizens to own and hold privately gold bullion or coins or either one?
If we have real gold buried in the back yard we have some semblance of protection from abject poverty.
Provided... we can actually spend it for food and shelter and that depends upon whether any one will accept it.
Provided also that the government doesn't find out and confiscate the metal...by court order.
Of course our U. S. government officials would never do that to a loyal citizen. Right?
::) ::)
--- End quote ---
It is legal to own gold in any form in the US and the US government confiscating the gold is a real possibility. Those who think this is more than a possibility buy gold jewelry and coins which have historically not been confiscated.
The biggest reason to own physical gold or silver is to maintain the same purchasing power if there is serious inflation.
ZekeSr:
--- Quote from: Dennis Vogel on July 17, 2019, 09:19:01 AM ---
--- Quote from: indianabob on July 16, 2019, 11:51:51 PM ---Interesting story about gold derivatives and so forth, but over my head.
Question: is it presently legal for citizens to own and hold privately gold bullion or coins or either one?
If we have real gold buried in the back yard we have some semblance of protection from abject poverty.
Provided... we can actually spend it for food and shelter and that depends upon whether any one will accept it.
Provided also that the government doesn't find out and confiscate the metal...by court order.
Of course our U. S. government officials would never do that to a loyal citizen. Right?
::) ::)
--- End quote ---
It is legal to own gold in any form in the US and the US government confiscating the gold is a real possibility. Those who think this is more than a possibility buy gold jewelry and coins which have historically not been confiscated.
The biggest reason to own physical gold or silver is to maintain the same purchasing power if there is serious inflation.
--- End quote ---
FDR made it illegal for private citizens to own more than $100 worth of gold in 1933. That lasted until Dec 31, 1974, after which the ban was lifted. There were exceptions like Dennis mentioned. But, yes it could happen again. One of the suggestions I have heard and read numerous times is to own what is called "junk silver"... circulated coins pre 1964 (dimes, quarters, and halves) as they are legal tender, almost pure silver and worth much more than their face value. There is not much chance for confiscation and would be handy for buying/bartering.
Also, like Dennis mentioned, the biggest reason to own precious metals is to maintain purchasing power if there is serious inflation.
Even so, it is only a stop-gap. As there will come a day when nothing of value will matter.
Mike
Wanda:
Bank Run: Deutsche Bank Clients Are Pulling $1 Billion A Day.
https://www.sgtreport.com/2019/07/bank-run-deutsche-bank-clients-are-pulling-1-billion-a-day/
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