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Paul C
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9 months ago
in As Dollar Falls, Washington Fails to Defend It on The Washington Independent
You will make money on gold. What I would be afraid of in the long term is wether you will be allowed to keep it.
FDR made gold ownership illegal in the 1930s when the United States was in deflationary depression. They may have to 're-boot' the economy from scratch.
On March 13th 2008, there was a closed door meeting of The United States House Of Representatives in Washington. In the history of The United States, this is only the fourth time a closed door meeting meeting was held by the House.
What you are seeing now and in the next days and weeks was discussed in these meetings. Look it up on you search engine of choice.
What is happening is nothing more that an controlled failure, rather than decending into anarchy.
FDR made gold ownership illegal in the 1930s when the United States was in deflationary depression. They may have to 're-boot' the economy from scratch.
On March 13th 2008, there was a closed door meeting of The United States House Of Representatives in Washington. In the history of The United States, this is only the fourth time a closed door meeting meeting was held by the House.
What you are seeing now and in the next days and weeks was discussed in these meetings. Look it up on you search engine of choice.
What is happening is nothing more that an controlled failure, rather than decending into anarchy.
2 replies
Talos
I bought mine in the form of coins. I do not believe that seizure of gold applies to coin(?). I have avoided raw bullion for that very reason...and I'll be damned if I will give up my coins unless I get a REAL fair market value (not some fake value set by a Bush or a Paulson, etc).
Talos
If "controlled failure" means redistributing wealth from the bottom to the top, then I prefer anarchy (and would work to bring it on). So far from what I'm seeing, UNLIKE FDR's New Deal which redistributed the horribly skewed wealth from the top back to the bottom, the current Raw Deal from Paulson/Bush IS redistribution from the bottom to the top.
Given that, I'll take anarchy because then the playing field is truly leveled and the top 1% will not be able to hold onto their ill-gotten gains.
Given that, I'll take anarchy because then the playing field is truly leveled and the top 1% will not be able to hold onto their ill-gotten gains.
9 months ago
in As Dollar Falls, Washington Fails to Defend It on The Washington Independent
The next few days will see some worrying times for the dollar.
*Oil and Gold will rocket.
*A new Oil record before friday 26th close.
*Oil and Gold will rocket.
*A new Oil record before friday 26th close.
1 reply
Talos
Hope you're right about gold. I bought my first round about a month ago, just before it plunged down in the $700/oz range. I then bought some a week ago just before it started its current modest climb. Hopefully the climb will continue to make all that at least break-even or slightly better.
