Should Biden order gold confiscated like FDR did?

[joko104]

First, “confiscation” implies seizure without compensation. While E.O. 6102 required much of the gold held by Americans to be surrendered to the government, it also provided for owners to be compensated. One might argue the price paid by the government was too low. Owners were paid $20.67 per troy ounce. Immediately following the surrender period, the Gold Reserve Act of 1934 raised the price of gold to $35.00 per ounce effectively declaring an immediate government profit of $14.33 for each ounce of gold collected.

Did FDR confiscate Americans’ gold in 1933? - U.S. Money Reserve

Did Franklin D. Roosevelt confiscate gold from citizens in 1933? Is that gold held in the Fort Knox gold vault? Read the article to learn the answers.

www.usmoneyreserve.com

The purpose was 2 fold. First, to allow the government to print endlessly more money with nothing backing it up and to deliberately cause inflation as inflation reduced debt and erases a large amount of the wealth of the rich - since poor people don't have money to lose value. Inflation also makes labor costs much cheaper at the same time. Thus, for example, if Biden can raise the minimum wage to$15 while over the same time frame there is 50% inflation, actually the real dollar-value of a $15 minimum wage is $7.50.

I'm sure you've all heard the constant ads urging buying gold and silver as hedges against inflation. It also is a way to hide monetary wealth and move wealth with the government knowing. (It is not like money in the bank the government tracks every penny of and can seize at any time).

Should Biden order gold (and silver?) confiscated and outlawed?

 

[bomberfox]

Wha?.... oh a joko thread.

 

[bongsaway]

When the government prints money who specifically owns that money?

What would be the purpose today to confiscate gold and silver?

 

[Evilroddy]

Wha?.... oh a joko thread.

Bomberfox:

I laughed, I cried and then ... I changed mes sous vestments!

Thank you!

Cheers, be well and stay dry!
Evilroddy.

 

[Evilroddy]

First, “confiscation” implies seizure without compensation. While E.O. 6102 required much of the gold held by Americans to be surrendered to the government, it also provided for owners to be compensated. One might argue the price paid by the government was too low. Owners were paid $20.67 per troy ounce. Immediately following the surrender period, the Gold Reserve Act of 1934 raised the price of gold to $35.00 per ounce effectively declaring an immediate government profit of $14.33 for each ounce of gold collected.

Did FDR confiscate Americans’ gold in 1933? - U.S. Money Reserve

Did Franklin D. Roosevelt confiscate gold from citizens in 1933? Is that gold held in the Fort Knox gold vault? Read the article to learn the answers.

www.usmoneyreserve.com

The purpose was 2 fold. First, to allow the government to print endlessly more money with nothing backing it up and to deliberately cause inflation as inflation reduced debt and erases a large amount of the wealth of the rich - since poor people don't have money to lose value. Inflation also makes labor costs much cheaper at the same time. Thus, for example, if Biden can raise the minimum wage to$15 while over the same time frame there is 50% inflation, actually the real dollar-value of a $15 minimum wage is $7.50.

I'm sure you've all heard the constant ads urging buying gold and silver as hedges against inflation. It also is a way to hide monetary wealth and move wealth with the government knowing. (It is not like money in the bank the government tracks every penny of and can seize at any time).

Should Biden order gold (and silver?) confiscated and outlawed?

Joko104:

Nixon took the USA off the Gold Standard so he could have the Federal Reserve print up unlimited fiat money, not FDR. FDR and the Fed of the day were still limited by the Gold Standard even though the price hike allowed them to print more money to deal with the Deptession and the shameful antics of the big banks trying to strangle the American economy by creating a lending crisis to block FDR's reforms. Remember, these bankers were the same bunch of thugs who backed the Business Plot to remove FDR from the Executive decision-making process. Read The Wizard of Oz for background information! (Just joking about Oz).

Cheers and be well.
Evilroddy.

 

[CaughtInThe]

at least Trump Republicans aren't freaking out or anything.

 

[aociswundumho]

I'm sure you've all heard the constant ads urging buying gold and silver as hedges against inflation. It also is a way to hide monetary wealth and move wealth with the government knowing. (It is not like money in the bank the government tracks every penny of and can seize at any time).

Should Biden order gold (and silver?) confiscated and outlawed?

Gold and silver are good, but there are better ways. Bitcoin, altcoins, and especially privacy coins are well established and are not going anywhere. They cannot be stopped by any government. Fiat currencies have failed over and over and over again and the dollar will be no exception. When the dollar fails, people will need an alternative, and there's a good chance crypto usage will become widespread, and when that happens it's all over.

 

[Crovax]

Joko104:

Nixon took the USA off the Gold Standard so he could have the Federal Reserve print up unlimited fiat money, not FDR. FDR and the Fed of the day were still limited by the Gold Standard even though the price hike allowed them to print more money to deal with the Deptession and the shameful antics of the big banks trying to strangle the American economy by creating a lending crisis to block FDR's reforms. Remember, these bankers were the same bunch of thugs who backed the Business Plot to remove FDR from the Executive decision-making process. Read The Wizard of Oz for background information! (Just joking about Oz).

Cheers and be well.
Evilroddy.

something that didn’t actually happen. Not a shred of evidence or corroboration has ever shown that there was a plot. And of course the narrative falls on its face when you say it out loud that a bunch of supposedly smart world controlling bankers picked a staunch capitalist and big time FDR supporter as the one to lead an overthrow of FDR and capitalism

 

[joko104]

When the government prints money who specifically owns that money?

What would be the purpose today to confiscate gold and silver?

Prevent secretly hording money for one reason. You certainly are aware how intensely the government wants to know about any possession and flow of money, aren't you? Gold and silver being horded is money taken out of circulation entirely.

 

[Luce]

I have nothing constructive to add to this traffic wreck of an OP.

 

[Alfons]

Commies stay always commies.
Today gold confiscation, tomorrow the Red Terror ( already started as Covid-1984 scamdemic, where instead of bullet the 'vaccine' applied)

 

[Evilroddy]

something that didn’t actually happen. Not a shred of evidence or corroboration has ever shown that there was a plot. And of course the narrative falls on its face when you say it out loud that a bunch of supposedly smart world controlling bankers picked a staunch capitalist and big time FDR supporter as the one to lead an overthrow of FDR and capitalism

crovax:

The McCormack-Dickstein Committee, which would go onto become the House Committee on Un-American Activities, examined the allegations, declaring that there was some evidence of a scheme by Wall Street elites, anti-communists and fascist sympathizers. Even though the findings were declared by Congress to be “alarmingly true,” no charges were ever laid against anyone involved.

“The [committee] received evidence showing that certain persons had made an attempt to establish a fascist organization in this country. There is no question that these attempts were discussed, were planned, and might have been placed in execution when and if the financial backers deemed it expedient,” Congress declared."

From: https://militaryhistorynow.com/about-mhn/

I wouldn't dismiss it so easily. The McCormack-Dickstein Committee didn't.
There is evidence that this conspiracy did happen at the behest of some of the most powerful men of the day.

Cheers and be well.
Evilroddy.

 

[Fledermaus]

First, “confiscation” implies seizure without compensation. While E.O. 6102 required much of the gold held by Americans to be surrendered to the government, it also provided for owners to be compensated. One might argue the price paid by the government was too low. Owners were paid $20.67 per troy ounce. Immediately following the surrender period, the Gold Reserve Act of 1934 raised the price of gold to $35.00 per ounce effectively declaring an immediate government profit of $14.33 for each ounce of gold collected.

Did FDR confiscate Americans’ gold in 1933? - U.S. Money Reserve

Did Franklin D. Roosevelt confiscate gold from citizens in 1933? Is that gold held in the Fort Knox gold vault? Read the article to learn the answers.

www.usmoneyreserve.com

The purpose was 2 fold. First, to allow the government to print endlessly more money with nothing backing it up and to deliberately cause inflation as inflation reduced debt and erases a large amount of the wealth of the rich - since poor people don't have money to lose value. Inflation also makes labor costs much cheaper at the same time. Thus, for example, if Biden can raise the minimum wage to$15 while over the same time frame there is 50% inflation, actually the real dollar-value of a $15 minimum wage is $7.50.

I'm sure you've all heard the constant ads urging buying gold and silver as hedges against inflation. It also is a way to hide monetary wealth and move wealth with the government knowing. (It is not like money in the bank the government tracks every penny of and can seize at any time).

Should Biden order gold (and silver?) confiscated and outlawed?

Why?

 

[Fledermaus]

Joko104:

Nixon took the USA off the Gold Standard so he could have the Federal Reserve print up unlimited fiat money, not FDR. FDR and the Fed of the day were still limited by the Gold Standard even though the price hike allowed them to print more money to deal with the Deptession and the shameful antics of the big banks trying to strangle the American economy by creating a lending crisis to block FDR's reforms. Remember, these bankers were the same bunch of thugs who backed the Business Plot to remove FDR from the Executive decision-making process. Read The Wizard of Oz for background information! (Just joking about Oz).

Cheers and be well.
Evilroddy.

The book Wizard of Oz is an allegory for the Gold vs. Silver standard of the day.

 

[Crovax]

crovax:



From: https://militaryhistorynow.com/about-mhn/

I wouldn't dismiss it so easily. The McCormack-Dickstein Committee didn't.
There is evidence that this conspiracy did happen at the behest of some of the most powerful men of the day.

Cheers and be well.
Evilroddy.

did you even bother to read it? Beyond Butlers testimony there was no other evidence or corroboration. As I pointed out simple logic will show just how silly the narrative is.

 

[Evilroddy]

did you even bother to read it? Beyond Butlers testimony there was no other evidence or corroboration. As I pointed out simple logic will show just how silly the narrative is.

Crovax:

Yes I bothered to read the article I cited and your posts. The Congressional Committee concluded the apprehended coup was real. In my books their conclusions carry more weight than yours, unless you back up your claim with evidence or authority.

Cheers and be well.
Evilroddy.

 

[Crovax]

Crovax:

Yes I bothered to read the article I cited and your posts. The Congressional Committee concluded the apprehended coup was real. In my books their conclusions carry more weight than yours, unless you back up your claim with evidence or authority.

Cheers and be well.
Evilroddy.

the congressional commission also concluded that the allegations had no merit to even call the accused as witnesses. The committee was in the awkward position of taking testimony from a war hero that was completely 100% unverifiable

 

[Evilroddy]

the congressional commission also concluded that the allegations had no merit to even call the accused as witnesses. The committee was in the awkward position of taking testimony from a war hero that was completely 100% unverifiable

Crovax:

No that's not true. Butler realised that he was in dangerous waters and pursuaded a newspaper reporter and former Marine he knew to pose as an angry veteran in order to confirm what key plotters had told Butler. The Committee heard that testimony from the reporter too as well as a damning letter by a congressional investigator. The problem was that the accused were just too powerful to try, so the Committee's findings were sealed and unavailable for public scrutiny until a clerical mistake accidentally released them in the early 1970's IIRC.

Cheers and be well.
Evilroddy

 

[Helix]

Ooh, another absurd OP. I want to participate in the absurdity.

Yes. In fact, he should also confiscate all metal and use it to build himself a yacht based on the G.I. Joe USS Flagg. It should be roughly the size of Rhode Island, and should be given four electoral votes. As for the gold, he can use that for electrical purposes and for his own private vault, which he can dive into daily like Scrooge McDuck at the beginning of Duck Tales.

This flailing around stuff is ridiculous. Biden won. His platform did not include gold confiscation.

 

[EMNofSeattle]

Joko104:

Nixon took the USA off the Gold Standard so he could have the Federal Reserve print up unlimited fiat money, not FDR. FDR and the Fed of the day were still limited by the Gold Standard even though the price hike allowed them to print more money to deal with the Deptession and the shameful antics of the big banks trying to strangle the American economy by creating a lending crisis to block FDR's reforms. Remember, these bankers were the same bunch of thugs who backed the Business Plot to remove FDR from the Executive decision-making process. Read The Wizard of Oz for background information! (Just joking about Oz).

Cheers and be well.
Evilroddy.

The wizard of Oz was about the coinage or silver in the era of William Jennings Bryan.

 

[Evilroddy]

The wizard of Oz was about the coinage or silver in the era of William Jennings Bryan.

EMNofSeattle:

Populism vs. elite-controlled statism. The populist WJ Bryan defended bimetalism as a form of low-cost money which benefited small business and workers while McKinley "crucified" much of labour and the West of the USA "on a cross of gold", said WJ Bryan. McKinley was protecting the interests of the monied American elites, mostly on the East Coast.

Cheers and be well.
Evilroddy.

 

[Jason Warfield]

First, “confiscation” implies seizure without compensation. While E.O. 6102 required much of the gold held by Americans to be surrendered to the government, it also provided for owners to be compensated. One might argue the price paid by the government was too low. Owners were paid $20.67 per troy ounce. Immediately following the surrender period, the Gold Reserve Act of 1934 raised the price of gold to $35.00 per ounce effectively declaring an immediate government profit of $14.33 for each ounce of gold collected.

Did FDR confiscate Americans’ gold in 1933? - U.S. Money Reserve

Did Franklin D. Roosevelt confiscate gold from citizens in 1933? Is that gold held in the Fort Knox gold vault? Read the article to learn the answers.

www.usmoneyreserve.com

The purpose was 2 fold. First, to allow the government to print endlessly more money with nothing backing it up and to deliberately cause inflation as inflation reduced debt and erases a large amount of the wealth of the rich - since poor people don't have money to lose value. Inflation also makes labor costs much cheaper at the same time. Thus, for example, if Biden can raise the minimum wage to$15 while over the same time frame there is 50% inflation, actually the real dollar-value of a $15 minimum wage is $7.50.

I'm sure you've all heard the constant ads urging buying gold and silver as hedges against inflation. It also is a way to hide monetary wealth and move wealth with the government knowing. (It is not like money in the bank the government tracks every penny of and can seize at any time).

Should Biden order gold (and silver?) confiscated and outlawed?

Given that the gold standard ended in 1973, an order to confiscate gold and/or silver would not do much of anything good or bad for the economy as the US dollar is fiat currency right now. The only way that confiscation of gold would do anything good or bad is if we went back to the gold standard. Which the corporations of today don't want to do..

In terms of ease of moving wealth...if you were a millionaire/billionaire....I would argue that it would be impossible to hide or move that wealth. Reason: cashing out gold and silver follows a process that is monitored, not by value, but by weight. Unless you have someone that can convert gold into cash quickly undetected, then this is pure fantasy.

Don't get me wrong, if you had small amounts or a few bars, then yeah...you probably could. But the more wealth you convert to gold the harder it will be to revert, and the value may not be the same (higher or lower) as what you put in. And also you have to consider that in order to cash large amounts of gold to cash, you would have to pay to smuggle it out of the country, pay the premium of whatever nation you ask to cash it, possibly pay some type of tax on it in that country (or not, it depends) then convert the cash into US dollars to bring back to the US and explain it somehow.

What you are suggesting is fantasy. It just isn't a realistic thing to do. I think that you are coming up with these polls for no other reason than to "prove" why Biden would be a bad president. Or trying to trick people into thinking that Biden would try something so outlandish.

I mean, seriously, this is just silly.

 

[Surrealistik]

First, “confiscation” implies seizure without compensation. While E.O. 6102 required much of the gold held by Americans to be surrendered to the government, it also provided for owners to be compensated. One might argue the price paid by the government was too low. Owners were paid $20.67 per troy ounce. Immediately following the surrender period, the Gold Reserve Act of 1934 raised the price of gold to $35.00 per ounce effectively declaring an immediate government profit of $14.33 for each ounce of gold collected.

Did FDR confiscate Americans’ gold in 1933? - U.S. Money Reserve

Did Franklin D. Roosevelt confiscate gold from citizens in 1933? Is that gold held in the Fort Knox gold vault? Read the article to learn the answers.

www.usmoneyreserve.com

The purpose was 2 fold. First, to allow the government to print endlessly more money with nothing backing it up and to deliberately cause inflation as inflation reduced debt and erases a large amount of the wealth of the rich - since poor people don't have money to lose value. Inflation also makes labor costs much cheaper at the same time. Thus, for example, if Biden can raise the minimum wage to$15 while over the same time frame there is 50% inflation, actually the real dollar-value of a $15 minimum wage is $7.50.

I'm sure you've all heard the constant ads urging buying gold and silver as hedges against inflation. It also is a way to hide monetary wealth and move wealth with the government knowing. (It is not like money in the bank the government tracks every penny of and can seize at any time).

Should Biden order gold (and silver?) confiscated and outlawed?

Your extremely basic math is completely wrong.

At 50% inflation in prices, not that a $15 minimum wage would ever cause such a ridiculously huge increment, the real purchasing power of $15 is in fact $10 dollars after adjustment, as you divide the hourly wage by 1, our baseline (representing 100%), plus the percentile of inflation (50% = 0.5 so 1 + 0.5 = 1.5). Putting it all together: $15 / (1 + 0.5) = $15 / 1.5 = $10

A doubling of prices, or 100% inflation, would in fact lead to a halving of purchasing power as should be intuitive, not 50% inflation: $15 / (2) = $7.5

Also your thread, poll and questions are all utterly ridiculous.

 

[bongsaway]

Prevent secretly hording money for one reason. You certainly are aware how intensely the government wants to know about any possession and flow of money, aren't you? Gold and silver being horded is money taken out of circulation entirely.

You didn't answer the first part, who owns the money and as for the second part, silver and gold is silver and gold not money. Can you pay for gasoline with a gold necklace?

 

[The Mark]

First, “confiscation” implies seizure without compensation. While E.O. 6102 required much of the gold held by Americans to be surrendered to the government, it also provided for owners to be compensated. One might argue the price paid by the government was too low. Owners were paid $20.67 per troy ounce. Immediately following the surrender period, the Gold Reserve Act of 1934 raised the price of gold to $35.00 per ounce effectively declaring an immediate government profit of $14.33 for each ounce of gold collected.

Did FDR confiscate Americans’ gold in 1933? - U.S. Money Reserve

Did Franklin D. Roosevelt confiscate gold from citizens in 1933? Is that gold held in the Fort Knox gold vault? Read the article to learn the answers.

www.usmoneyreserve.com

The purpose was 2 fold. First, to allow the government to print endlessly more money with nothing backing it up and to deliberately cause inflation as inflation reduced debt and erases a large amount of the wealth of the rich - since poor people don't have money to lose value. Inflation also makes labor costs much cheaper at the same time. Thus, for example, if Biden can raise the minimum wage to$15 while over the same time frame there is 50% inflation, actually the real dollar-value of a $15 minimum wage is $7.50.

I'm sure you've all heard the constant ads urging buying gold and silver as hedges against inflation. It also is a way to hide monetary wealth and move wealth with the government knowing. (It is not like money in the bank the government tracks every penny of and can seize at any time).

Should Biden order gold (and silver?) confiscated and outlawed?

What purpose would Biden doing this serve?