Aces High Bulletin Board
General Forums => The O' Club => Topic started by: Midway on November 10, 2011, 12:17:36 PM
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"Shortly after taking office sixteen years later, Franklin Delano Roosevelt signed Executive Order 6102 into law, prohibiting the “hoarding” of gold. Under this executive order, Americans were prohibited from owning more than $100 worth of gold coins, and all “hoarders” (i.e. people who owned more than $100 worth of gold) were forced, by law, to sell their “excess” gold to the government at the prevailing price of $20.67 per ounce.
Then, once the government had all the gold, FDR revalued the dollar relative to gold so that gold was now worth $35 an ounce. By simple decree, the government had thereby robbed millions of American citizens at a rate of $14.33 per ounce of confiscated gold, which is why most historians agree that the Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States." -- link below
http://www.silvermonthly.com/government-confiscation-gold-happened-beforecould-happen/
http://en.wikipedia.org/wiki/Executive_Order_6102
:uhoh
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yeah...but he won the war.
"Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States." Federal Income Tax nothwithstanding.
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i see we have a replacement for penguin...wonder how long this one will last... :headscratch:
ok midwacky, who are these mysterious "most historians" and did they all use the word draconian?
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i see we have a replacement for penguin...wonder how long this one will last... :headscratch:
ok midwacky, who are these mysterious "most historians" and did they all use the word draconian?
Ignore those descriptions... it's the executive order that I found interesting. :headscratch: thought others might too. :frown:
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did you do any further research or were those 2 links as far as you got?
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did you do any further research or were those 2 links as far as you got?
there are many more. Feel free to research yourself. :)
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no midwaky, you brought it up...one source is a socio-political blog and the other has incomplete information. you should dig deeper to be better informed. i know, for you it's a stretch but...we all want to see you get beyond your current crap queen status some day.
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(http://white15.com/albums/userpics/10001/Disaster.jpg)
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Journalism 101 is taught here? ..who woulda thunk
he posted a some links..and offered no personal opinions.....why the need to defend himself?
oh the humanity
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no midwaky, you brought it up...one source is a socio-political blog and the other has incomplete information. you should dig deeper to be better informed. i know, for you it's a stretch but...we all want to see you get beyond your current crap queen status some day.
:rofl Research it yourself. It's in the historical record. It happened. Are you saying it didn't or what? Just read up on it and tell me if the order was not real and/or was not executed. :ahand
Not sure what point you're trying to make. :headscratch: I'm just identifying a real order that was implemented and is part of US history. :frown: That's all I'm saying. :)
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Journalism 101 is taught here? ..who woulda thunk
he posted a some links..and offered no personal opinions.....why the need to defend himself?
oh the humanity
depends on whether the words he posted are his or copy and paste from somewhere...
By simple decree, the government had thereby robbed millions of American citizens at a rate of $14.33 per ounce of confiscated gold, which is why most historians agree that the Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States.
that looks like an opinion not mere fact. if it's not the op's opinion it would have served him better to quote it and post the source it came from...
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again... it's a freakin' message board.
what's with the journalistic integrity thing?
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depends on whether the words he posted are his or copy and paste from somewhere...
that looks like an opinion not mere fact. if it's not the op's opinion it would have served him better to quote it and post the source it came from...
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. :salute
:)
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again... it's a freakin' message board.
what's with the journalistic integrity thing?
get out of your superman suit and go find something else to do...
(http://dl.dropbox.com/u/405468/AH%20Stuff/special.jpg)
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midway...sign this and shut up...we gotta tough guy up there who makes fun of mentally retarded kids.
I Midway, hereby agree, that when offering links or opinions, or when I make any salient point whatsoever...I shall...cross reference it and substantiate all historical data in triplicate, with attached ademdums indicating both substantive and qualified similar opinions from known Rhodes scholars. lastly, I hereby affirm and represent that I shall indicate any and all political and religious affiliations, of myself and all my neighbors....and list how said affiliations bolster my original points and opinions.
the fact is...Irene81..you jumped the gun on midway and asked him to substantiate someone else's opinions...in your zeal to the be content queen
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(http://white15.com/albums/userpics/10001/popcornandbeer.gif)
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(http://white15.com/albums/userpics/10001/popcornandbeer.gif)
:rofl :aok
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I love the smell of napalm in the mornin'
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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...
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weak
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more!
:furious
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Reg: Jul 2009
Posts: 8455
count on it
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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. :salute
:)
:aok 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.
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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!
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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.
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:aok 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).
:noid
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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?
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aren't we already there?
not yet
Hyperinflation has to hit first.
$40 loaves of bread... $300 per gallon of gas... etc...
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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). :noid
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.
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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
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I was focused on the "spit shining their shoes for a living" part
2013 lol
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come do my job for about six months ;)
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yeah...but he won the war.
"Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States." Federal Income Tax nothwithstanding.
actually, it was the young men and women that will forever be viewed as heros by some of us that won the war.
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not yet
Hyperinflation has to hit first.
$40 loaves of bread... $300 per gallon of gas... etc...
I used to live through inflation, unemplyment ; See the picure below; In 1989 during Revolution i was student ,used to live exactly in this bldg, Technical University Campus, Cluj-Napoca,Romania. See what we wrotte on the building during the revolution; Liberty=Salami, because we went to bed many times with empty stomach. Before "89 basic foods were given by gov. with coupons, but we had to pay; we had 1 lb of meat,1 lb of sugar 500 ml of coocking oil/ month/person for bread and milk i used to wake up at 5-6 AM and wait in line until 8AM when the repuplying truck came to store. After "89 with privatization ,thinks changed lots of full grocery stores, but was hard to buy; unempoyment was 45% in some cities,and inflation over 200%/year.I hope i won't go through this again.
(http://i.imgur.com/Ns5Di.jpg)
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I used to live through inflation, unemplyment ; See the picure below; In 1989 during Revolution i was student ,used to live exactly in this bldg, Technical University Campus, Cluj-Napoca,Romania. See what we wrotte on the building during the revolution; Liberty=Salami, because we went to bed many times with empty stomach. Before "89 basic foods were given by gov. with coupons, but we had to pay; we had 1 lb of meat,1 lb of sugar 500 ml of coocking oil/ month/person for bread and milk i used to wake up at 5-6 AM and wait in line until 8AM when the repuplying truck came to store. After "89 with privatization ,thinks changed lots of full grocery stores, but was hard to buy; unempoyment was 45% in some cities,and inflation over 200%/year.I hope i won't go through this again.
(http://i.imgur.com/Ns5Di.jpg)
:frown: :salute :pray :rock
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actually, it was the young men and women that will forever be viewed as heros by some of us that won the war.
that was my point Cap..it was satire.
my father and my uncles were among those people......and I appreciate that..and what they did... ever day.
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I used to live through inflation, unemplyment ; See the picure below; In 1989 during Revolution i was student ,used to live exactly in this bldg, Technical University Campus, Cluj-Napoca,Romania. See what we wrotte on the building during the revolution; Liberty=Salami, because we went to bed many times with empty stomach. Before "89 basic foods were given by gov. with coupons, but we had to pay; we had 1 lb of meat,1 lb of sugar 500 ml of coocking oil/ month/person for bread and milk i used to wake up at 5-6 AM and wait in line until 8AM when the repuplying truck came to store. After "89 with privatization ,thinks changed lots of full grocery stores, but was hard to buy; unempoyment was 45% in some cities,and inflation over 200%/year.I hope i won't go through this again.
(http://i.imgur.com/Ns5Di.jpg)
I appreciate you post. I talk to a lot of my friends about hyperinflation...and there is this prevailing "it can't happen here" attitude amongst them...and among most americans. it can..and it will...in the next 5 years.
Disclaimer...this is an ongoing conversation relating to economics....not politics.
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that was my point Cap..it was satire.
my father and my uncles were among those people......and I appreciate that..and what they did... ever day.
sorry about that.
my great uncle was in the 26th Infantry Regiment, 1st Infantry Division. killed on feb. 2, 1945.
he was killed in action. was a medic, and according to my grand mom, he was dragging wounded off the field when he was killed. i never met the guy, but i am named after him. wish i could have met him.
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I used to live through inflation, unemplyment ; See the picure below; In 1989 during Revolution i was student ,used to live exactly in this bldg, Technical University Campus, Cluj-Napoca,Romania. See what we wrotte on the building during the revolution; Liberty=Salami, because we went to bed many times with empty stomach. Before "89 basic foods were given by gov. with coupons, but we had to pay; we had 1 lb of meat,1 lb of sugar 500 ml of coocking oil/ month/person for bread and milk i used to wake up at 5-6 AM and wait in line until 8AM when the repuplying truck came to store. After "89 with privatization ,thinks changed lots of full grocery stores, but was hard to buy; unempoyment was 45% in some cities,and inflation over 200%/year.I hope i won't go through this again.
(http://i.imgur.com/Ns5Di.jpg)
:headscratch: Will buy salami and eat a salami sandwich in honor of ghi and all others in that building, who waited in line just for some good salami. Will discuss with my kids as we're eating it. :salute :rock
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I appreciate you post. I talk to a lot of my friends about hyperinflation...and there is this prevailing "it can't happen here" attitude amongst them...and among most americans. it can..and it will...in the next 5 years.
i doubt it will happen in the next 5 years but, yes it can and will happen sooner or later. when it happens we will be doing what the germans did in the mid 30s, carry money around in wheel barrows. a lot is going to depend on what economic reforms are put in place, if any...
ghi, i can't imagine having to live under those conditions...and i hope you never have to do it again. :salute
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could be worse.
We could have a king&queen who do nothing but get free stuff all day. :uhoh
:bolt:
:angel:
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I suggest investing in, gold, silver, and copper jackets. :banana:
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I suggest buyINg your own lead and reloading supplies...also learning some basic gunsmithing and being prepared to defend against the INflationary hordes.
:bhead
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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.
Just to get the economics correct here... It was to decrease the value of the dollar. Before the revaluation it took only about $20 to buy an oz of gold, after the revaluation you had to come up with $35 for that same oz of gold because each dollar was now worth less.
Fast forward to 1971 just before we left the gold standard, it still took $35 to purchase an oz. After we left the gold standard it has taken more and more dollars to purchase the same oz. Note today you have to come up with about $1,750 to buy that same single oz of gold. The dollar is worth far less today than in 1971 or in 1933 because you have to come up with so many more dollars to buy the same oz of gold.
In 1971 people would likely have laughted at you if you told them that four decades later (in 2011) that this $35 oz of gold (a price held steady for the previous four decades) will require 50 times ($1,750 / $35) as much money to buy that same little oz of gold. :frown:
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I say it is better to become a salami hoarder than a gold hoarder; one can eat the salami when things go belly-up.
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this cat had it right.....way back when....
(http://www.splotchy.com/images/blog/goldfinger05.jpg)
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(http://white15.com/albums/userpics/10001/Disaster.jpg)
I am IN concurrence.
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get out of your superman suit and go find something else to do...
(http://dl.dropbox.com/u/405468/AH%20Stuff/special.jpg)
You should take Ur own advice lmfao
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Vote for Ron Paul.
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You should take Ur own advice lmfao
i see you finally did...have a cupcake.
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I would post a video but I cannot.....too much for these boards.
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I would post a video but I cannot.....too much for these boards.
Ah, but you can PM me a link... Hint hint.