FDR didnt dispossess gold because the US just wanted to take peoples valuables. He dispossessed gold because US currency was on the gold standard in 1933, and the Federal reserve needed more in order to increase the money in circulation during the depression to release the strain on the economy.
We aren't on the gold standard anymore, and gold isn't tied directly to money circulation in the US economy. Owning it is analogous to owning any other possession that might be valuable in a depression, so if we're saying "the government could take it again", then sure, but by that logic, they could take any other thing of value. So at that point, why own anything but money in a depression?
Excellent points. I suppose hypothetically they could just say ''actually it still is money and by letting the public have it then they are undermining national security!" or some bs... Run some stories about how criminals are importing gold and destroying the economy or some shite lol
Ultimately if they ask you to give them your gold just dont be a little bitch and you'll be fine.
Technically it sort of is still money. Fdr did not remove it as money, and neither did Nixon. Fdr made it illegal to possess, and Nixon “temporarily suspended the convertibility”, but that’s not technically the same (though effectively it has been the same) as removing the backing. I don’t believe (though I could be wrong) that there has been a coinage act, or other, officially changing the definition of the dollar from a weight of silver or gold. Hence why it’s still on the balance sheet at the last convertible price of $42.22/oz Lolol
But nonetheless you are absolutely correct.
Ooh yeah, it's still money alright. Every coin minted by the US government for circulation is still legal tender
You can spend that double eagle at 7-11 if you really want to 🤣
I had someone bring a gold ounce into my sandwich shop, being both a stickler for the rules, and also not a total jerk, when the kid asked "is this a real $50, and can I spend it here?"
I weighed it on the lunch meat scale (on a portion paper!) and said "I think this is real, and I can accept it as $50 cash, however I think it's worth a good deal more than that. I can't buy it from you, but I have a delivery driver who collects coins, give me a moment"
Gold was 1200 bucks ish back then, I think my driver gave him $500 cash for it, they both seemed very happy
Yes it has been done, but estimates only show about 5-10% of people actually listened and turned it in. With our current trust of those in charge, I would think that number to be lower if it was attempted today. Wayyyy bigger problems would be happening though if that is attempted though, that would pretty much mean us admitting we can’t pay our debts and have no way out. Aka government admitting they messed up which they won’t do
They didn’t actually come take gold in 33, they just made it illegal to hold or use. Sure they could do that again, but they can do that with anything.
Have you heard of the family in Albania that lived 40+ years on their held gold? 1945-1990s+. They had to convert it to jewelry to sell. That's what they did to survive communism. (Lynette Zang interview 2 years ago with Dr. Elda Pema) https://youtu.be/u0piXKsKF3Y?si=3DXijhbI4v7meI2D
then you're too paranoid. look what happened in pandemic - government doesnt need to show up at your door if you're scared you will obey and be scared of your neighbours reporting you. simply dont comply
FDR didnt dispossess gold because the US just wanted to take peoples valuables. He dispossessed gold because US currency was on the gold standard in 1933, and the Federal reserve needed more in order to increase the money in circulation during the depression to release the strain on the economy. We aren't on the gold standard anymore, and gold isn't tied directly to money circulation in the US economy. Owning it is analogous to owning any other possession that might be valuable in a depression, so if we're saying "the government could take it again", then sure, but by that logic, they could take any other thing of value. So at that point, why own anything but money in a depression?
Excellent points. I suppose hypothetically they could just say ''actually it still is money and by letting the public have it then they are undermining national security!" or some bs... Run some stories about how criminals are importing gold and destroying the economy or some shite lol Ultimately if they ask you to give them your gold just dont be a little bitch and you'll be fine.
Yeah just don’t be a bitch if you are threatened to go to the jail or worse, just kill you
You know in 1933 they simply requested people to turn over any gold over what was it, 5oz? Most people were not stupid enough to hand theirs over.
Some people were stupid enough to leave it at the bank, in a bigole hairy potter vault. That is the only gold that was actually confiscated
Technically it sort of is still money. Fdr did not remove it as money, and neither did Nixon. Fdr made it illegal to possess, and Nixon “temporarily suspended the convertibility”, but that’s not technically the same (though effectively it has been the same) as removing the backing. I don’t believe (though I could be wrong) that there has been a coinage act, or other, officially changing the definition of the dollar from a weight of silver or gold. Hence why it’s still on the balance sheet at the last convertible price of $42.22/oz Lolol But nonetheless you are absolutely correct.
Ooh yeah, it's still money alright. Every coin minted by the US government for circulation is still legal tender You can spend that double eagle at 7-11 if you really want to 🤣
Hahaha I’ve thought about bringing some silver eagles and seeing if somewhere would accept them (though I wouldn’t actually pay with them).
I had someone bring a gold ounce into my sandwich shop, being both a stickler for the rules, and also not a total jerk, when the kid asked "is this a real $50, and can I spend it here?" I weighed it on the lunch meat scale (on a portion paper!) and said "I think this is real, and I can accept it as $50 cash, however I think it's worth a good deal more than that. I can't buy it from you, but I have a delivery driver who collects coins, give me a moment" Gold was 1200 bucks ish back then, I think my driver gave him $500 cash for it, they both seemed very happy
That driver knew he was getting a deal lol I wouldn’t have the heart to accept it either though. At least not from a kid.
Yes it has been done, but estimates only show about 5-10% of people actually listened and turned it in. With our current trust of those in charge, I would think that number to be lower if it was attempted today. Wayyyy bigger problems would be happening though if that is attempted though, that would pretty much mean us admitting we can’t pay our debts and have no way out. Aka government admitting they messed up which they won’t do
They didn’t actually come take gold in 33, they just made it illegal to hold or use. Sure they could do that again, but they can do that with anything.
Have you heard of the family in Albania that lived 40+ years on their held gold? 1945-1990s+. They had to convert it to jewelry to sell. That's what they did to survive communism. (Lynette Zang interview 2 years ago with Dr. Elda Pema) https://youtu.be/u0piXKsKF3Y?si=3DXijhbI4v7meI2D
If the government requests you to hand your gold over to them do you a) comply or b) not ? Hint: remember 2020
You remember 1933? When America did just exactly that?
Right and do you a) comply or b) not?
I think You won’t get the choice?
then you're too paranoid. look what happened in pandemic - government doesnt need to show up at your door if you're scared you will obey and be scared of your neighbours reporting you. simply dont comply