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Mini Fort Knox in Asia - Robby Noel June 10 2010

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posted on Jun, 13 2010 @ 12:06 PM
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Mini Fort Knox in Asia - Robby Noel June 10 2010

gold-silver-market.blogspot.com...

Get Ready for gold confiscation


A Mini Fort Knox built by JP Morgan in Singapore due to "fear of confiscation".




posted on Jun, 13 2010 @ 12:23 PM
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reply to post by Jane_Rogers
 


The gold market itself is a racket. These guys will say absolutely anything in order to increase their wealth same as the Wall Street traders and such.

The problem I've got with the gold market is the playing to paranoia. First they tell us that the Dollar is going to have hyperinflation, instead the market appears to be headed for a deflationary period. Then they told us the Dollar would be eclipsed by the Euro as the world reserve currency, then the Euro falls like a stone.

So what do the gold peddlers have left now? Confiscation, sure okay that that's scary but really? The issue I am hearing here in England and especially over in Asian markets is that gold is the next bubble. The price curves are starting to look terrifyingly like that of the US housing market 5 years ago and the tech stocks of the 1990s. Now it's so prohibitively expensive to get into gold that any gains made before a possible bubble bursts will be percentages at best.

So this leaves the people selling gold, and the people they pay to make gold sound attractive in a very bad place. They want the maximum number of people to enter the market right now, while prices are high, so that they can continue to see at the insanely inflated prices for a while longer.

These guys selling gold are going to laugh all the way to the bank with your money, just like the housing market.



posted on Jun, 13 2010 @ 12:29 PM
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Confiscate gold? How would they go about doing this? Come knock on the door and say give us your gold? Is it only buillon? Or will it be my necklaces rings and jewelry?



posted on Jun, 13 2010 @ 12:41 PM
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Originally posted by Smitty5150
Confiscate gold? How would they go about doing this? Come knock on the door and say give us your gold? Is it only buillon? Or will it be my necklaces rings and jewelry?


The Gold Reserve Act of 1934 pretty much makes the confiscation of gold impossible, FDR tried to restrict gold hoarding in the depression but the courts overturned his executive order and in 1977 congress regulated the market through gold clauses.

The problem with gold is that it is a fixed resource, not an elastic one like fiat currency. There is not enough gold in the world in order to make an effective exchange system based off of it for a country the size and wealth of the United States. Any attempts at such would result in massive economic turmoil and the destruction of the US economy. That is why gold is relegated to an investment role, where it will remain.



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