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$1,700 – $1,800 Still Not Too Much to Pay for Gold! Here’s Why
Posted by Lorimer Wilson
Sooner or later I think everyone will have an epiphany about money that pushes them to buy gold - even if it’s at levels that would seem expensive today. When that time comes, we won’t be focused on the price of gold but on the absolute need to acquire a more lasting asset. If I’m right, the plus $1,700/ozt. price today is not too high a price to pay. Let me explain further.
Imagine the condition of our world if gold reached $5,000 a troy ounce – and kept soaring. We would likely be in a mania if that happened – but what kind of mania would it be? There would be some greed, to be sure, but I think…a deeper reason would be at play and it’s the same reason that will drive you to keep buying gold [even] at $2,000 an ounce: you’ll have to.
It’s doom and gloom to say this, but I think it’s possible and perhaps even probable that at some point we’ll all feel forced to buy gold, almost irrespective of price, due to a sudden and rapid depreciation of the U.S. dollar.
How do we get to that point? Simple: You go to buy something and realize you’ve just been priced out of the market, not because the item is too expensive, but because you suddenly realize the money in your hand no longer has purchasing power. Your reaction to that event is predictable: you feel cornered, maybe even scared, and…
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Short URL: http://www.veteranstoday.com/?p=130230
Posted by Veterans Today on Aug 12 2011, With 0 Reads, Filed under Economy, Investing & Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
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Why don’t you educate the public about the 1933 Gold Seizure of the America Gold insead of peddling your bull.
Executive Order 6102 required U.S. citizens 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 per troy ounce. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of the order was punishable by fine up to $10,000 ($167,700 if adjusted for inflation as of 2010) or up to ten years in prison, or both. Most citizens[The Rich] who owned large amounts of gold had it transferred to countries such as Switzerland.
According to the Ney York Times over 500 Tonnes of Gold was Seized (stolen at $20.67/oz) 1933.
The following year when the Federal Reserve had collected all the Gold, the price of gold from the Treasury for international transactions was thereafter raised to $35 an ounce. The resulting profit (70% profit) that the government realized funded the Exchange Stabilization Fund established by the Gold Reserve Act in 1934.
In other words, The Federal Reserve after creating the crash of 1929 and causing the Great Depression by contracting the money supply up till 1929, then creating the Great Depression for 10 years admitted by Ben Bernanke (November 8, 2002), sold the Americans Gold to help pay the debt to the Federal Reserve.
Yeah, I’m going to buy Gold at $2000/oz so the Fed force me to give it to them for $1000/oz to help pay for Wall Street’s Criminal activities.
More ZOG ponzi schemes.