Sunday, May 1, 2011

Will The Government Confiscate Your Gold?

With gold closing at an all-time high, silver hitting new 31 year highs this week and the US dollar continuing its plunge, the Godfather of newsletter writers, Richard Russell had this to say in his latest commentary, “One of the questions that I'm most frequently asked is this: ‘Russell, do you think the US government will call in all the privately-held gold, just as Roosevelt did in 1933?’

I've thought about this at length, and I've arrived at what I believe to be the correct answer. The answer is -- No, the government will definitely not call in the gold. The simple reason is that a tremendous amount of gold is held in very powerful hands. Gold (GLD) and gold bullion is held by pension funds, university endowment funds, large powerful hedge funds, corporate reserves, and state treasuries. Note the two paragraphs below.”

Russell continues:

“AUSTIN — ‘Fearing unstable international financial markets and the possibility of high inflation, Texas' higher education investment managers have bought more than $500 million in gold. "The gold purchases represent only 3 percent of the University of Texas Investment Management Co.'s $22.3 billion in investment funds, but it indicates how deeply the fund managers are concerned about the global financial future."
More Here..


Metals: Silver demand in China and India is set to rise 30 percent in 2011

26 comments:

  1. They will not confiscate any gold. As written, the more "powerful" owners will challenge the idea in courts and would delay the confiscation efforts.

    Common people who own gold will simply spray the guys, knocking on door with lead! Problem solved.

    ReplyDelete
  2. Boy it sure aint gonna get any better than a this. This is gold country. I say we go knock on some wood with gold and after that we go and spray some rocks with gold paint. When they come for the guns we can always ride off with some donkeys and challenge the bottom of the grand canyon.

    God bless America.

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  3. I think shouldn't have to be told to give up our gold. Real patriots would do so voluntarily.

    ReplyDelete
  4. If they try to confiscate gold there's going to be a lot of gunfights in the streets for sure. I think the people are not going to fall for it this time.

    What people have to remember about this country is that this isn't a small country like Iraq and Afghanistan and just look how much trouble are troops are getting there and so can you imagine here ? There are people in this country with deep military training and they will use it.

    I think the US govt better go play in the sand box some more lest they create a million or two rambos hell bent on cutting political throats silently in the night.... This issue of confiscation is something that goes at the heart of American property rights and it will create an instant response from the people.

    I think the best move is not to play this dangerous game or they will surely draw back a stump.

    ReplyDelete
  5. they could, and replace with tbills or ? for the funds to hold instead, with guarantee's and the whole kaboodle. what's any gunna do? supreme court will rule for the gov, saying something like..it's for stability, and therefore for peace, and safety, for national security and stuff. with 1 ruling all lawsuits will end.
    watch an interview today and telling as to how the collective thinks. some senator saying targeted bombing/assassinating ghadfi isn't against the "law" as he's not a ruler, the UN said so, and so did we and euro leaders. they decided and so it is. not that I'm for ghadfi at all but the idea that now "the group" does whatever it decides, changing any rules or laws to fit(even while ignoring same actions in their own or "friendly" countries) to this scale shows we've entered a new stage. like france said-we have a new mandate/way/policy/ability to..do as we like, basically. so saying they can't take gold because of rule of law and lawsuits is...outdated. welcome to the NWO.
    there's actually some prophecy's stating gold and silver will become useless one day and many will weep and howl over it, whether it's confiscated(mentions people weeping and casting it into the streets-still having it so no confiscation yet worthless as a currency/hedge) or simply all "currency" becomes one, and digital. guess there's no true hedge or "safe" thing in this world and in the long run the survival rate is zero, maybe think again about life, and after, as what's happening and coming is very real. consider PM's a useful tool and nothing more, won't "save" anyone.
    read above-500million in gold, and that's a huge holding? 3% of total, rest is joined to gov paper/gov decisions. who has more-the world's central banks or ? world gov's or ? so if world gov's decide/settle on a new form of currency, and they hold so much PM's, I'm sure they'll make provisions for themselves to replace that value with "other"...and if they decide so it will be huh, just like now.

    ReplyDelete
  6. Fiat money sucks,
    Rothschild Inc should be shot @dawn or earlier,
    I have 500oz silver ,

    Hunker down folks, the sheeple have to find out soon that the money et al is toast,(if they can be diverted from sports, beer, food)

    Going to be messy when the tv's & takeaways evaporate.

    ReplyDelete
  7. People know how unconstitutional our government is these days. They are smarter and do not trust any government decisions. Besides, the currency is no longer backed by gold and our government is not about to create a redeemable currency without a revolution first. After that, the government will be a constitutional one and it will not confiscate anything.

    ReplyDelete
  8. After the total collapse of the economy and the fiat currency behind it, we will have no choice but to return the gold/silver standard, something that should have never been abandoned.

    If I survive the collapse, the time will come to start over and it would be the right thing to do, to "sell" our metals to the new Constitutional Republic of the United States of America.

    There will never again be a (un)Federal Reserve.

    Hey, consider this, I hear that Ft. Knox has not been audited since the 1950's and many have suggested all of our gold that was stored there is GONE! Stolen away. If that vault at Ft. Knox is empty, how else will we return to the gold/silver backed money supply?

    Until that day comes my lead will be more abundant than my PM's. And speaking of lead, inflation has arrived. Ammo prices are going up, so you better buy as much as you can now.

    In the last month or so, I have seen milk prices rise by 40 cents. I recently bought 4, one liter packs of Pepsi for $3.90 and that same 4 pack is $4.60. I won't buy it any longer. You can't stockpile milk, but you can and should stockpile ammo. Even if you don't own a gun, you should still invest in ammo.

    One thing I have always thought is Obozo may try to take our guns (it will never happen) but that ass, could tax ammo to the point where a 50 round box of 9mm, .40 or .45 caliber could cost $200.00 each. Well stored ammo can sit on a shelf for 50 years with no problems.

    ReplyDelete
  9. I just bought used copies of RAMBO and ESCAPE
    FROM NEW YORK. A couple of my fave's, and I
    need to get my 'apocalyptic' on!

    Don't waste ammo! Don't 'spray and pray',
    instead, 'aim and claim'!

    As Charleton Heston once said, 'From my WARM,
    dead hands!!! OOOOORAH!

    ReplyDelete
  10. YEAH BUDDY!! I just got done cleaning my M16 with grenade launcher and changed the oil on my M2 Bradley. If anyone steps in my way I am turning my whole neighborhood into a GULAG. Death to anyone in my way and RIP to those in my rear view mirror. It's kill or be killed this time around, baby. My WHOLE YARD is wired with mines and so many other ways it's not even funny.

    ReplyDelete
  11. "What people have to remember about this country is that this isn't a small country like Iraq and Afghanistan and just look how much trouble are troops are getting there and so can you imagine here ? There are people in this country with deep military training and they will use it."

    What deep military training are you talking about!? Most veterans in this country have absolutely no combat training in any way at all. The only ones who receive actual combat training are young men in the marines or army, and many in the army don't experience any action.

    I heard someone similar to 1:19's remark, and lack of analysis, say that there were 40 million vets to protect from martial law. Okay smart people... that means about 20 million are over 60, another 10 million were just in the navy, air force, or national guard = worthless. The 10 million who may have had combat training still won't be of any use since they won't have access to the high tech gadgets which is the reason why the militaries succeed over the civilians in the first place. (tanks, choppers, artillery, x-ray, radar, jets, bombs, tear gas, body gear, machine guns, etc.)

    I can see that now. We'll have to go get (veteran) grandpa out of his wheelchair to help fight against the marines that just parachuted down. Also, we'll get old Davy, who just retired from the navy.

    (According to this police state argument, you'll have about 40 million old, fat, or half baked vets trying to find about 500 thousand Iraq and Afghan war vets in a crowd of 250+ million people.)

    Use your heads people.

    Any individual who knows how to shoot a gun will be just as capable as any soldier to defend themselves. If you're talking about squads, then no, the soldiers know how to mobilize and function as a unit. But again - if they aren't given their special weapons and information they won't do anywhere near as well.

    My point here is that I'd rather have a sharpshooter, somebody that can shoot plates in mid air or anything like that, than some police officer or soldier who couldn't shoot a cow from a few feet away.

    Answer me why cops get killed in higher portions than ordinary people when it comes to violent conflicts? Cops are destined for errors since they are taught rigid ways to deal with situations, that's why.

    As far as confiscation goes, the government would easily take the metals away from people. They've taken away our intelligence, discipline, morality, family values, community, and individuality through schools, radio, and TV, so why would they be unable to grab our gold and silver?

    ReplyDelete
  12. @1:45 I wonder what alphabet agency you work for because most of what you said comes from the propaganda manual that says that Americans don't stand a chance at defending themselves against this tyrannical govt, but I say that is total bs and you will see what happens when people are united for a cause. That is exactly why you see our sh#t for brains politicians doing everything in their power to keep us separated in thought and resolve. that is what keeps your bosses.at the agency and TPTB elites scared to death. if we all wake up and unite then they are screwed and dead.

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