Old Newspaper Clippings of Gold Activity

[Carpe Diem]

I think it was Churchill who said that the more you understand the past, the more you can predict the future.  Very true.  Look at the history of great empires and fiat currencies and you'll realise why gold and silver always win in the end.

 

For those of you interested in history of gold, and seeing a nicely documented account of the movement of gold to the US vaults since the 1940s then take a look at this

 

The idea of "slow history" as he puts it is an interesting way to understand what  really happened in the past, rather than relying on half-baked, subjective views that we are pumped with in this country.

 

 

[Danny-boy]

That's pretty cool.

Another cool newspaper article is the US gold confiscation.

[garthy]

That's pretty cool.

Another cool newspaper article is the US gold confiscation.

 

Interesting to see this article in black and white, $10,000 fine or 10 years imprisonment or both!! Just glorified gangsters, I wonder how many of us would hand over our gold and silver over if this ever happened again?  

[Carpe Diem]

I wonder how many of us would hand over our gold and silver over if this ever happened again?  

 

Going by the way people these days seem to willingly pull their pants down and get shafted from everything to expenses scandals to youth unemployment, invading countries we have no business being in to happily paying the Bolshevik Broadcasting Society's TV tax, I think that if that day ever comes, most people would hand it over and do exactly what they're told like the good domesticated sheep that they've become.  

 

Failing that, they'll have a rant on twitter and all will be forgotten when they tune into Top Gear re-runs on Dave.

[HighlandTiger]

I wonder how many of us would hand over our gold and silver over if this ever happened again?  

What silver and gold? I don't own any silver or gold

 

I'd like to see the authorities try to raid the caravan sites to get the gold sovereign rings, gold rope chains and gold giant bangle earrings off the travellers.   It'll be a blood bath. 

[HawkHybrid]

It's just gold coins, bullion and certificates I don't think wedding rings count.

 

due to it's volume and industrial use it's unlikely to happen with silver.

 

HH

[Danny-boy]

It's just gold coins, bullion and certificates I don't think wedding rings count.

due to it's volume and industrial use it's unlikely to happen with silver.

HH

Yes, no gold jewellery or silver was required to be handed over.

Had I been there with gold bars in my possession, I'd drill a hole in each one and make it into a huge Mr T necklace.

But it's jewellery officer.

[a_a]

How would they know who's got any gold? Ransack every house?

[Danny-boy]

How would they know who's got any gold? Ransack every house?

Well it's not going to happen.

But it's the case that you have to surrender it by law or face fine / prison.

Wouldn't work nowadays, probably didn't work as well as they think back then.

[silversword]

How would they know who's got any gold? Ransack every house?

 

Check bank and credit card payments, paypal records, jeweller's shop records. All electronic. If they really wanted to, they could.

[a_a]

I'd tell them I must have lost it between moves

[Carpe Diem]

Check bank and credit card payments, paypal records, jeweller's shop records. All electronic. If they really wanted to, they could.

 

proof of payment doesn't necessarily mean proof of current ownership though

[silversword]

proof of payment doesn't necessarily mean proof of current ownership though

 

True, but it gives a start point for the ransacking. Some would be caught unawares I'm sure.

[HawkHybrid]

they would just raid the safes and vaults by ownership.

they are interested in those 1KG bars, not your half oz

here and there.

 

HH

[HelpingHands]

Is anybody here able to recall the 'Exchange Control Act' and how it was announced to the public regarding the maximum holding of gold coins?

Exchange Control Act 1966 to 1971

On 19th April, 1966, the Exchange Control Act came into effect. From this date it became illegal for UK residents to continue to hold more than four gold coins dated after 1817, or to buy any gold coins unless they applied for and were granted a collectors licence from the Bank of England. This was implemented by a 1966 amandment to the Exchange Control Act, 1947. The Dealers, ourselves included had to obtain a dealers licence. It came at a time when interest in collecting all kinds of British coins was blooming in anticipation of decimalisation in 1971. The licensing had the effect of stifling the burgeoning market among new collectors, many of whom started collecting pennies from change. They could no longer graduate to gold coins, as they had to already have a gold coin collection in order to qualify for a licence.

http://taxfreegold.co.uk/banksotherbritishdealers.html

I've only skimmed the BofE pdf below and can't find much gold related.

http://www.bankofengland.co.uk/archive/Documents/historicpubs/qb/1967/qb67q3245260.pdf

[KDave]

There are way too many reckless boating enthusiasts amongst the gold owning population for confiscation to be viable.

 

You see, gold is only detectable at point of being bought and at point of being sold. At any other point gold is effectively invisible to the financial system. It is beautiful stuff really.

 

It is also very easy to hide.  

[Scuzzle]

During the US gold confiscation there only ever was one person jailed so either everyone complied or they never enforced it strictly.