Gold... History... US... just saying...

[Dichotomy]

[Midway]

(Image removed from quote.)

 

[ZetaNine]

I love the smell of napalm in the mornin'

[gyrene81]

midway...sign this and shut up...we gotta tough guy up there who makes fun of mentally retarded kids.

the fact is...Irene81..you jumped the gun in midway and asked him to substantiate someone else's opinions...in your zeal to the be contend queen

i didn't realize you were mentally retarded...not exactly the word i would have used but, it works just as well as "challenged" or "handicapped". and it does explain the lack of reading comprehension. go color some marshmallows or something...

[ZetaNine]

weak

[bagrat]

more!
 

[ZetaNine]

Reg: Jul 2009
Posts: 8455


count on it

[gyrene81]

was a quote (I put it in quotes for you and added reference to link) from the first link...

Here's a quote from the wiki entry, the 2nd link, quoting the NYT at the time:

The order was rationalized on the grounds 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 On March 6, taking advantage of a wartime statute that had not been repealed, he forbade the hoarding 'of gold or silver coin or bullion or currency,' under penalty of $10,000 fine or ten years imprisonment or both."

If you want my opinion, it's simple:  Be aware of history as it does have a tendency to repeat itself, on occasion.  Hopefully not in this case, but being aware of it is a good thing.

 

 i don't think there is any danger of that particular history repeating itself. considering the current world economic situation and the u.s. federal deficit, such a change in currency policy would have the potential of causing bigger problems.

[Plazus]

Once the American Dollar becomes worthless, all the rich people who hoarded their gold will be in a substantially advantageous position to rule the world. People like us will become peasants, spit shining their shoes for a living, and dying of famine.

Have a nice day!

[ZetaNine]

Once the American Dollar becomes worthless, all the rich people who hoarded their gold will be in a substantially advantageous position to rule the world. People like us will become peasants, spit shining their shoes for a living, and dying of famine.

Have a nice day!

as a purchaser and collector of gold for the last 30 years......lemme say this:  It's meaningless if we hit hyperinflation..and we will.  what's it going to do for me?  give me another 4 months?
people who don't have gold..have not thought this one through.  like how they physically redeem it.  most..only have certificates of deposit too.

[Midway]

 i don't think there is any danger of that particular history repeating itself. considering the current world economic situation and the u.s. federal deficit, such a change in currency policy would have the potential of causing bigger problems.

Note that (1) It was an executive order of the President (Congress did not vote the order), (2) It was during a time of severe economic distress, and (3) is related to the decline of the dollar in terms of gold (Gold price dramatically increased on a percentage basis).

 

[Dichotomy]

Once the American Dollar becomes worthless, all the rich people who hoarded their gold will be in a substantially advantageous position to rule the world. People like us will become peasants, spit shining their shoes for a living, and dying of famine.

Have a nice day!

aren't we already there?

[ZetaNine]

aren't we already there?

not yet

Hyperinflation has to hit first.

$40 loaves of bread... $300 per gallon of gas... etc...

[gyrene81]

Note that (1) It was an executive order of the President (Congress did not vote the order), (2) It was during a time of severe economic distress, and (3) is related to the decline of the dollar in terms of gold (Gold price dramatically increased on a percentage basis).

the executive order could have been challenged or over turned by congress or through the supreme court. we are in a time of severe economic distress so i'm missing your point on that one. it wasn't related to the decline of the value of the dollar it was intended to increase the value of the dollar. when we stopped using the "gold standard", the value of the dollar became highly subjective.

[Dichotomy]

not yet

Hyperinflation has to hit first.

$40 loaves of bread... $300 per gallon of gas... etc...

I was focused on the "spit shining their shoes for a living" part