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Not exactly. Banks were not allowed to open safe deposit boxes without a revenue agent present to "exchange" their gold for greenbacks.
Section 1. For the purposes of this regulation, the term "hoarding" means the withdrawal and withholding of gold coin, gold bullion or gold certificates from the recognized and customary channels of trade. The term "person" means any individual, partnership, association or corporation.
Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve Bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them...
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Section 9. Whoever willfully violates any provision of this Executive Order or of these regulations or of any rule, regulation or license issued thereunder may be fined not more than $10,000, or, if a natural person, may be imprisoned for not more than ten years, or both; and any officer, director, or agent of any corporation who knowingly participates in any such violation may be punished by a like fine, imprisonment, or both.
Don't think they can't criminalize ownership of anything they want under "emergency powers".
Don't think they can't criminalize ownership of anything they want under "emergency powers".
Fact remains, people voluntarily turned their gold in. No one went door-to-door, no one pointed a gun at them.
If they outlaw guns, will you turn yours in? Point being government can't take what you don't give them, and don't tell them you have. So STFU and keep buying!
IMO, this has a high probability of actually happening. It's what the Globalist elites have planned with their Great Reset, whereby you will own nothing and be happy.
. Biden has, to my personal benefit, greatly increased the price of gold.
stereotomy says
. Biden has, to my personal benefit, greatly increased the price of gold.
Yeah, look also at the run up of silver during Obama's first term.
But the gold bugs who are buying at $2000 may be set up for a crash like the silver bugs did after 2011.
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Premium for Silver Eagles is almost 50% over spot.
Gold is NOT and investment. It is an insurance policy against the failure of Bretten Woods -> Petrodolar system.
maintaining value
Gold is NOT and investment. It is an insurance policy against the failure of Bretten Woods -> Petrodolar system. How many Patnetters have fire insurance, or flood insurance? That's all it is. It earns no interest, and there are continuing storage costs. We have been reminded again and again about the consequences of not being prepared for the next fiat currency collapse.
yes, silver eagles are a safe play as well as silver ETF (ticker SLV)
Patrick says
maintaining value
yep, it stores values
1 silver quarter (25 cents piece) should continue to buy 1 gallon of gasoline or whatever its equivalent replacement would be
1 ounce gold piece can buy a 3 to 4 very stylish and high quality 3 - piece suits, and it should also do the same in the future
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silver eagles are a safe play as well as silver ETF (ticker SLV)
SLV and GLD are fine investments for your non-taxable IRA account, but do yourself a favor and don't hold them in a taxable account. Those funds sell a tiny bit of their metal holdings each month to fund their daily activities. As an owner of the instrument, you need to make a complicated entry on your taxes for each month or part of a month that you own them. For those who have already made this mistake, here's a website that can help you: https://www.costbasistools.com/silver/SLV.php
Silver has been dead for a long time.
How does anyone know how much specie you are buying to start with? I don't believe the dealer has any reporting requirements.
Silver has been dead for a long time.
Buy simple chain jewelry. Jewelers, esp the ones that sell chains, aren't banks.
Government issued coins (constitutional or bullion) are easier to verify and trade.
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