Those Gold Sponsers

[anunnaki]

Adds for investing/buying Gold as a hedge against a questionable economy trouble me because too many people either don't know (too young), or have forgotten US History.
So imagine-if you will, that the US Gov't has a Secret Plan to pay off a large portion of its Debt.

Here is how it might work- Let all the Fools Invest in Gold, which will be recorded, then at the right moment do what the US Gov't has done in the past that most have forgotten-

Executive Order 6102 is a United States presidential executive order signed on April 5, 1933, by President Franklin D. Roosevelt "forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States". The effect of the order, in conjunction with the statute under which it was issued, was to criminalize the possession of monetary gold by any individual, partnership, association or corporation.

Rationale

The stated reason for the order was that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse.[1] The New York Times, on April 6, 1933, p. 16, wrote under the headline "Hoarding of Gold", "The Executive Order issued by the President yesterday amplifies and particularizes his earlier warnings against hoarding. On March 6, taking advantage of a wartime statute that had not been repealed, he issued Presidential Proclamation 2039 that forbade the hoarding 'of gold or silver coin or bullion or currency,' under penalty of $10,000 and/or up to five to ten years imprisonment."[2]

The main rationale behind the order was actually to remove the constraint on the Federal Reserve which prevented it from increasing the money supply during the depression; the Federal Reserve Act (1913) required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit (in the form of Federal Reserve demand notes) that could be backed by the gold in its possession (see Great Depression). If gold can’t be legally owned, then it can’t be legally redeemed. If it can’t be legally redeemed, then it can’t constrain the central bank.

Effect of the order
Executive Order 6102

Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 (equivalent to $376.58 today[4]) per troy ounce. Under the Trading With the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, violation of the order was punishable by fine up to $10,000 (equivalent to $182,185 today[4]) or up to ten years in prison, or both.

https://en.wikipedia.org/wiki/Executive_Order_6102

It troubles me when I hear Art Bell and other Popular Talk Show Hosts, Hawking these Gold Investment Schemes

[anunnaki]

Those who forget their History are condemned to repeat it !

[albrecht]

Jewelry, numismatic, etc wasn't seized or given in and still "legal" plus if one has real gold bullion now or is hoarding how will the government get it (assuming they don't have in a safety deposit box etc.?) Send shock troops with metal detectors into everyone's land? They can barely control the native populations in places like Baltimore now imagine better armed people in rural places with more places to hide stuff or snipe?
Having said that it interests me all this focus on "gold" and wanting a new "gold standard" when, in the past, it was seen as hurting the farmer/small-business/little-guy. "Cross of Gold" speech etc (Bryan lost the election to McKinley but McKinley was assassinated and now even lost his mountain!!)

[anunnaki]

"how will the government get it"

Lots of ways, one might a reward/bounty paid to jealous "rats", but my post was about the adds/sponsors, who would definitely have a confiscatory paper trail. 

"numismatic"- Did you miss the first line- "forbidding the Hoarding of gold coin" ?

[albrecht]

"how will the government get it"

Lots of ways, one might a reward/bounty paid to jealous "rats", but my post was about the adds/sponsors, who would definitely have a confiscatory paper trail. 

"numismatic"- Did you miss the first line- "forbidding the Hoarding of gold coin" ?

"gold coins having recognized special value to collectors of rare and unusual coins" were apparently exempted. But I get your point. Especially using rewards/bounties as there is lots of precedent for the government encouraging people, even your own children, to "report" things. I still think short of military round-ups and metal detector searches seizing all the gold would be hard. And at that point who cares about gold; lead would be the more important commodity.

[anunnaki]

like thee lead thought. the investment coins are not rare collector coins. they are currently minted domestic and foreign.

[ItsOver]

...It troubles me when I hear Art Bell and other Popular Talk Show Hosts, Hawking these Gold Investment Schemes

Caveat emptor.  Carnivora anyone?

[scottydawg]

Who was the one Economics guy that reported to George that he had a Hell of a time getting his real gold from a company selling it?
They told him it was in a safe deposit vault in a bank in New York City. But it turned out all they were selling was fancy certificates that said they had Gold stored for him in their vaults. He finally got most of the gold that he paid for, but over a 4 month period.
After he stated that unless you have it in your hand or in your own safe deposit box in your bank you don't really own it!

[Lord Grantham]

Want to invest in gold? Invest in gold mines and gold ETFs.
http://www.cnbc.com/id/40354421

[HedgehogNorman]

You apparently didn't read the full Wikipedia article you linked.

https://en.wikipedia.org/wiki/Executive_Order_6102#Abrogation_and_subsequent_events

"The limitation on gold ownership in the U.S. was repealed after President Gerald Ford signed a bill to "permit United States citizens to purchase, hold, sell, or otherwise deal with gold in the United States or abroad" with an act of Congress codified in Pub.L. 93â€"373, which went into effect December 31, 1974"

[anunnaki]

That which has been repealed can be created again !