Harrolds.Blogspot.com
From: kd Sent: Tuesday, March 02, 2010
To anyone who thought gold was secure from govtoblama.
PRIVATE WEALTH: A thing of the past? A new CNN poll finds that a majority of Americans think the federal government has become so large and powerful, it poses an immediate threat to their rights and freedoms. Virtually every financial asset we own is 100% transparent to prying government eyes (and a tempting target) unless steps are taken now to privatize our wealth. The U.S. Government still has the authority to prohibit the private possession of gold and silver coins and bullion by U.S. citizens during wartime and declared emergencies. The U.S. Patriot Act of 2006, Section 352 Anti-money laundering and terrorism, states; "Anything that derives 50% or  more of it's value from it's metal content is reportable."In today's world of big government spending, could the Federal Government resort to confiscating gold from citizens to pay their debts? Remember it happened less than 100 years ago. President Roosevelt used the Emergency Banking Act of 1933 to force the public confiscation of gold bullion at $20.67/oz. He then immediately reset the price at $35/oz., causing a 75% loss to gold owners! Right now Obama and his administration need a new way to finance the huge budget deficit. Their latest proposal is to take control of the retirement accounts of the American public. The Treasury has gone so far as to state they would have no problem confiscating gold again. |
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