Marc is always interesting to listen to.

Gold Confiscation by FDR was an Underhanded and Cowardly Act:
So much for American history; yet strangely, many Americans consider FDR to have been a great President; I wonder what their criteria is, for a past president to be considered “great.”

Will They? If Not, What Will They Do?
While the current US administration, or some future administration, could confiscate the gold that Americans own, I doubt that they would have the courage to do that cowardly act again, primarily because there are too many unintended “consequences” of this potential government action.

Well, they SHOULD do nothing; but being a corrupt government, they can’t “do nothing.” So here’s what I believe they’ll do:

Add a Stealth Tax on Gold:
Instead, I believe it is far more likely that the US government will tax gold sales (from dealers as well as from private individuals) at a very high rate, in order to “discourage” the purchase or gold.
Look at it this way; the Obama Administration already added many stealth taxes into the ObamaCare bill. One of these is a provision that forces all businesses and all individuals to file a 1099 form (miscellaneous income) on anything over $ 600 (e.g. a single gold coin). That provision is still “the law” but if not repealed, it would result in a nightmare for all concerned. Hence the lobbying pressure to remove that provision from the ObamaCare bill. The provision still hasn’t been removed or repealed because of differences between the House proposal vs. the Senate proposal.

Desperate people do desperate things; this comment applies equally to governments, as well. I believe that the US government, at some point within a few years, will make it difficult (or very costly) for Americans to own gold.

Time will tell.

[b]obewon[/b],
I agree with all you posted except the 1099 provision has just been repealed.

I have no doubt that gold trading will be encumbered again by this or some
other nefarious trick snuck into an obscure bill of no importance otherwise.

The parallels to SB510, loading home-grown produce with a ton of paperwork
requirements, are all too obvious. Vigilance, my friend, vigilance.
-

Denarius is WRONG

The house and Senate passed the bill to repeal – BUT OBAMA did not sign it. it is still las as of today May 6th

@ Denarius:
Tnks for your comments; because of the differences between the Senate and the House repeal provisions, I believe Mel is correct.

Regarding html codes, each web site uses different ones. This web site uses the Asian html symbols , rather than the ones that you tried.

1099 Tax Provision Repealed
By Gregory Boop, About.com Guide April 15, 2011

“I am a lawyer by trade and even I could not make heads nor tails
out of a provision in the Patient Protection and Affordable Care Act
health insurance legislation that required businesses to report certain
business to business transactions on the IRS form 1099.

“The House had repealed the provision back in March and
at the beginning of this month the Senate did as well.

“Yesterday, the President signed the repeal.”

http://businessinsure.about.com/b/2011/04/15/1099-tax-provision-repealed.htm

Controversial 1099 Reporting Requirements Repealed
APRIL 15, 2011 · 6 COMMENTS

“Fortunately, even Congress couldn’t stand in its own way long enough
to keep this on the books. The provision was eventually repealed and
yesterday President Obama officially signed legislation eliminating the
provision.

“Also on the President’s desk for elimination? A separate, but similar, tax
reporting requirement for landlords. Under the Small Business Jobs and
Credit Act, Congress expanded reporting requirements for landlords to
include any person who receives rental income from real estate.

“Prior to the Small Business Jobs Act, only taxpayers who were
engaged in rentals as a trade or business were subject to the
requirement. The tweak to this requirement was also repealed.”

http://www.taxgirl.com/controversial-1099-reporting-requirements-repealed/

@ Denarius:
Thanks for the clarification on the 1099 repeal; I didn’t know that!

I’m surprised that you didn’t test out your html codes in your remarks above!

It seems that the logical approach is to revalue their gold holdings. This enables them to complete another cycle again; that is, print more money to buy the stuff that they ‘require’ ;sell arms and go off the new gold standard. You have to add dress-up and spin of course.

The Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States! http://www.moneyteachers.org/gold+confiscation+act.htm