Can The Government Force A Buy Back At Face Value ?

I personally would have asked him who is going to be baking and selling bread if the economy collapses and the only money with value is the silver coins.

I have to agree that he was using it as a sales pitch. If someone really believed that only silver money would have value soon they wouldnt be selling it. Its just like the people who tell you silver will be 100 dollars an ounce soon, if they believed that theyd be buying all they can before it did and selling nothing

Someone with wheat who wanted a less perishable commodity for use in making purchases of his own. Or are you saying that if the economy collapses bread will have no value?





And with the raising of the official price from $20 to $35 an oz after they had collected all the gold in, it allowed the government to issue nearly double the amount of currency giving them twice as much money to spend to try and stimulate the economy. And yes the collectors were protected, but do you know why? The original order calling in the gold made no distinction between numismatically value coins or an other gold bullion, all of it had to be turned in. But the Secretary of the Treasury, and good friend of Franklin Roosevelt, William Woodin, was a coin collector, and he happened to be a collector of gold coins. The numismatic gold coin exemption was put in so Franlklin's friend Woodin wouldn't have to turn in his collection, and so he could keep collecting. If Woodin hadn't been a gold collector the 1933 gold recall could have turned out much differently.

Im saying if society fell apart and you could no longer go to the store for food no one would be selling food. Silver doesn't feed your family. At some point money would come back into play but not for a while in a modern society used to just being able to go to the store for food. Any food supplies people do have will be hoarded for themselves and loved ones until some sort of supply opens back up.

In a situation like that if the bread maker needed something his offer of food for what he needed would bring back far more than an offer of money when survival is at stake

So far we have heard about the government conficating our safe deposit boxes, all our Gold, all our Silver, all our guns, possibly many other things I forgot. Then no more Social Security of much, much less of it. No more Medicare. No more Pennies or Nickels too. Sure wish that book called 1984 could have the title changed to 2084. I'd be more worried if they conficated all the old cars.

Last week I was reading an article on my favorite Online entertainment site: Fox news. The article was talking about the horror of the Government seizure of money in Cyprus. It was hilarious reading because What Cyprus ended up doing was actually better than what was already allowed for in the bank deposit guarantee scheme( which is very similar to the USA deposit guarantee scheme). Basically before the Cyprus Gvt made a media mess of things only a maximum of €100,000 were protected the aim being is if a bank failed deposits up to the maximum would be protected and any amount over that level would be lost. After all the public outrage they went back to the original scheme and actually then went on to effectively guarantee 60% of the remaining funds in deposits over €100,000.

Now if a bank in the US failed and the Gvt protected 60% of the deposits over the current US$100,000 maximum I am sure Fox news would be outraged at the use of tax payers funds being used to bail out banks and their institutional investors

Its 250k in the US and they would be 100 percent spot on to question that if it happened in the US. You dont preach class warfare out of one side of your mouth then give money to those people out of the other.

And weve already bailed out the banks before and they didnt pull the chicken little crap that the beloved MSNBC does every time taxes dont get raised to 90 percent of income

He's an idiot. Avoid speaking to him again.

Don't forget that the gold confiscation of 1933 was under markedly different circumstances from today. Back then gold was money was gold was money. If you had a $10 gold piece it was worth the exact same as a $10 note. It would be the equivalent today of the gov't saying "Alright listen here. No more $20 bills, here's two $10's for each one."

It's OK to worry, just worry about the right thing. Why would the gov't come door to door checking for gold? They might as well come confiscating comic book collections. FAR easier to do what Cyprus did, simply call the banks and say "please send in 10% of everything, thanks." Why face down 150,000,000 armed households in person when you can dash off an email cc'd to 1500 bank presidents?