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Is Gold The Biggest Fraud In History?
07-30-2017, 05:58 PM #16
bohica Member
Posts:1,556 Threads:207 Joined:Feb 2011
(07-26-2017, 07:25 PM)Kreeper Wrote:  They say you should buy gold (physical gold, not paper) and hold it because when the fiat dollar collapses (As every single one has done throughout the ages) we will inevitably go back to a gold standard,(As we have done every single time fiat currency has collapsed.)

When that happens, the people who own gold will see their value increase many fold (This has also been the case throughout history.)

There is one problem with that.

The gov will undoubtedly enact another version of Roosevelt's Executive Order 6102. Enacted in 1933, 6102 outlawed the private ownership of gold and allowed the government to confiscate it. Gold will be useless to private citizens.

I haven't used the gubmint for guidance since the mid-sixties.

I'm in my seventh decade on Earth. I know things.
07-31-2017, 02:53 PM #17
bohica Member
Posts:1,556 Threads:207 Joined:Feb 2011
At $16.82 a Troy ounce, I'll stick to having Silver.
I'm particularly fond of 1964 and older US dimes, quarters, and half-dollars, as they are recognized nationwide.
I also like Maple Leafs, (Canada), and Eagles, (USA), but most people don't understand them.
If TSHTF, I expect after the first six months of culling, a basic metric of trade will be put into general acceptance, and in my opinion, Gold is too concentrated for small barter.
Of course, during the first six months of culling, lead projectiles will have more value.

I'm in my seventh decade on Earth. I know things.



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