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Title: Insider Report: US Government Will Confiscate Gold When It Touches $2000
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URL Source: http://www.shtfplan.com/precious-me ... -when-it-touches-2000_02182011
Published: Feb 18, 2011
Author: Mac Slavo
Post Date: 2011-02-18 12:05:53 by Capitalist Eric
Keywords: None
Views: 4101
Comments: 4
It’s no secret that the US government is broke, the US dollar is crashing and losing credibility globally, and the IMF, China, France and others have publicly stated their desire to eliminate the dollar as the world’s primary reserve currency. The IMF, for example, recently issued a call to replace the Federal Reserve’s fiat paper, ironically suggesting that it should be replaced with yet another synthetic instrument known as the SDR, or Special Drawing Right. The SDR is essentially a monetary unit made up of a basket of other global monetary units that include the euro, Japanese yen, pound sterling, and U.S. dollar. Incidentally, prior to the collapse of the Bretton Woods gold-backed US dollar monetary system in 1973, the SDR was actually ‘backed by gold,’ with one SDR being worth roughly 0.88 grams of gold, or at the time, $1 US dollar. It’s been suggested that a new SDR, which would likely include the Chinese Yuan within the basket, may also require some non-synthetic units of exchange such as gold. We’ve learned from well known metals analyst and commentator Roger Wiegand, in an email to silver analyst David Morgan which was subsequently published in Morgan’s latest Silver Investor newsletter available only to subscribers, that several of Wiegand’s high level inside sources have reported that the puppeteers behind the US government, in order to facilitate a move into a new world currency are considering, or may have already begun moving forward with, a plan to confiscate gold and silver from the American public. The following “Red Alert” was sent by Wiegand to other precious metals experts and analysts and is republished verbatim: Editor: There is a plan to use the IMF (AKA US Treasury and Wall Street) to be the front man for the new world order and one currency.We also got disturbing news yesterday from an impeccable source that when gold touches $2,000 it’s confiscated in the USAfor about $200. Then it’s to be reissued by the Treasury for $10,000 per ounce to back the new IMF world currency using SDRS in 2011. Large physical gold is being moved to Canada. We’ve previously commented on the possibility of gold confiscation and other steps that may be taken by our financier controlled government in the event that gold does reach certain thresholds. Reaching these new thresholds, for example $2000 or $5000 per ounce, would suggest that the US dollar has likely crashed or begun a final collapse into oblivion, at which point, all credibility for this unit of exchange will have been lost in the eyes of the rest of the world. Will this lead to confiscation? Even David Morgan himself, in a recent Youtube interview, suggested that confiscation in the traditional sense was “ridiculous” and an argument that he doesn’t buy. Confiscation, however, may happen in other forms, as has been suggested by trend forecaster Gerald Celente and precious metals expert Jerry Western. Celente, who has been forecasting $2000 gold for years, says that governments will intervene if the price gets too high: We are projecting gold to go to $2000. It can go way higher, but we think that’s going to be the limit because the world governments will do something to push the price down. The free market will certainly value gold appropriately over the long-term, but in the short-term we cannot underestimate the power of interested banking conglomerates and their marionettes within the halls of Congress and the White House to force the price of gold to whatever value they choose through the use of price controls, much like governments have attempted to do with things like rents and food in various parts of the world throughout history. In the case of Mr. Wiegand’s red alert email, it could be as low as $200 per ounce. In his timely book Got Gold? Get Gold! covering everything you ever needed to know about precious metals, author Jerry Western writes: So, will it happen again? I’d have to say overtly, probably not. Never say never, but I believe that covertly it has already begun. Mr. Western suggests that, while the government will not overtly confiscate, as they did in 1933 when the US dollar was backed by gold, there are other ways that the financial powers that be, who essentially own our government, will strip the people of their precious metals. ...there’s the matter of gold and silver Exchange Traded Funds. Many of these funds, including the largest, are thought by many informed individuals, not to hold the metal they are purported to. At some point, if they don’t have the metal, they will default on their obligations to shareholders. Those shareholders who thought they owned gold will not...They will have had their gold taken from them. Confiscated. The two largest gold and silver ‘backed’ commodity ETFs currently have a total of nearly $70 billion in market capitalization. If the gold and silver aren’t there, as the fund managers claim, then if and when investors start requesting delivery of the physical metals, the funds will crash in the style of Ponzi and the paper representing their physical holdings will become worthless. The other real possibility will be confiscation through taxes, writes Western: The final implementation of confiscation will probably be in the form of confiscatory taxes. If taxes rise to 90% on any profit I must report, then it will be discouraging and not worth the effort to hold the metal. With the passage of President Obama’s health care bill, the American people found out, after the fact as usual, of the new 1099 requirements which will force gold/silver merchants to declare all precious metals transactions over $600. Thus, the mechanism for tracking and taxing even small cash transactions has already been put into place. We cannot, however, dismiss outright the suggestion that precious metals will be physically confiscated from the people. The reasoning behind the 1933 confiscation and ban on owning gold until the mid 1970’s was primarily because the US dollar was backed by gold. One US dollar represented a specific amount of gold, 0.888 grams in fact. Today, no such backing exists, and gold has been called a relic of the past by modern day monetary experts. However, if the IMF gets its wish, and it very well may if the US dollar’s long term plunge continues unabated, then gold will become a part of the new world reserve currency unit, currently being referred to as the SDR. If the United States is to retain a portion of that SDR basket, we will not be able to do it with our current monetary unit, the Federal Reserve Note, and a new currency domestically would be required. Sure, it may still be called the dollar, but it will likely need to be pegged to some physical asset, at least in part, for it to have any credibility globally and within the SDR basket. This means that the government is going to need to get its hands on some gold. There are supposed to be tons of it in Fort Knox, but we really don’t know because no accounting of those assets have been done for some 50 years. In the event we don’t have as much gold as the Federal Reserve says we do, then those precious metals are going to need to come from somewhere. For this reason, we can’t outright dismiss the idea that confiscation may become reality. So, if you’ve taken our past advice and hold precious metals, we recommend looking into some creative ways of making sure they don’t exist if someone ever comes knocking.
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#1. To: Capitalist Eric (#0)
My, you are full of one scare tactic after another. I hope it pays well. Well, don't worry...... when they go house to house searching through underwear drawers, they will grab your guns too.
http://first-draft-blog.typepad.com/.a/6a00d8341c5ced53ef0148c7a28c4b970c-320wi
The government HAS confiscated gold before. Every government- when it's broke, desperate and doesn't give a SHIT about its citizens- does so. They even go so far as to confiscate savings accounts, pension funds, and any other sources of revenue, that will delay the inevitable. THEY DON'T CARE about us. As far we're concerned, the government parasites simply view us as sheep to be sheared, whenever they need. You KNOW this, of course. So you attempt to divert the thread with bullshit commentary. NEVER will you actually address the points of the article, much less engage in an honest discussion. Thus, you're unworthy of further consideration. Bye, bozo. Socialist ass-hats think "There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." And yes, that IS from LF's answer to Ben Bernanke, go65, leading disfunctional and delusional socialist of the forum. "You want me to kill THE ENEMIES of Jappos, I'll kill THE ENEMIES of Jappos, Rebs, or Sioux, or Cheyenne... For 500 bucks a month I'll kill whoever you want. But keep one thing in mind: I'd happily kill you for free." Algren, "The Last Samurai" So, taking this advice, what am I supposed to use gold for? I can't eat it, I can't sell it, and I can't even admit that I have it. For all practical purposes that makes it completely worthless. Glenn Beck isn't going to like hearing this since he makes his money by conning the rubes into overpaying for gold coins.
No, you don't tell the government what you have... NEVER admit anything to the government. Gold preserves your purchasing power. Historically, when the government tries to make something illegal, it automatically climbs in value. And while you can't declare your holdings to the government, big deal. Fact is, as the government collapses under its own weight, people will start avoiding the tax-man, and the underground economy will grow, as the government- monitored economy sinks like the Titanic. Aka "grey" or "black" markets... Does that make it completely worthless? On the contrary, it will make it extremely valuable. If you're looking at gold as a means of monetary transactions, it is useful in large transactions. For small ones, silver is more appropriate, for obvious reasons. As you have correctly observed, you can't eat gold or silver. Having all your savings in such metals is short-sighted, I admit. That's why it should be some percentage of your savings/stash/cache/whatever, but not the ONLY thing... Whatever you choose, make sure you have physical possession of it, not ETFs. As time goes on, and I increase my savings, I maintain that percentage of precious metals... But I still maintain some hard cash in physical holdings, as an interim currency. Of course, I know that holding too much cash would be stupid, as it'll reach its ultimate intrinsic value... which is the value of a scrap of paper. I've been called a "gold-bug," and other names... Truth is, I really don't give a shit about gold OR silver. All I care about, is preserving my purchasing power through whatever commodities are available, that will accomplish this goal. The commodity itself doesn't really matter. Regards,
Socialist ass-hats think "There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." And yes, that IS from LF's answer to Ben Bernanke, go65, leading disfunctional and delusional socialist of the forum. "You want me to kill THE ENEMIES of Jappos, I'll kill THE ENEMIES of Jappos, Rebs, or Sioux, or Cheyenne... For 500 bucks a month I'll kill whoever you want. But keep one thing in mind: I'd happily kill you for free." Algren, "The Last Samurai"
#2. To: Rek (#1)
(Edited)
#3. To: Capitalist Eric (#0)
So, if you’ve taken our past advice and hold precious metals, we recommend looking into some creative ways of making sure they don’t exist if someone ever comes knocking.
#4. To: Skip Intro (#3)
So, taking this advice, what am I supposed to use gold for? I can't eat it, I can't sell it, and I can't even admit that I have it.
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