Gold Ownership During Inflation Spike

[Magritte]

https://markets.businessinsider.com/news/stocks/gold-ownership-illegal-inflation-spikes-economic-coronavirus-recovery-crispin-odey-2020-5-1029220541

 

It has happened before 🤔

[OriginalS]

This is literally 2 posts down,

 

It's not going to happen, it was banned in 1933 because the US dollar was backed by a set amount of gold, the population was hording that gold instead of spending the dollars stalling economic recovery, back then the US couldn't just print more currency to stimulate the economy.

 

 

 

[sixgun]

7 hours ago, OriginalS said:

This is literally 2 posts down,

It's not going to happen, it was banned in 1933 because the US dollar was backed by a set amount of gold, the population was hording that gold instead of spending the dollars stalling economic recovery, back then the US couldn't just print more currency to stimulate the economy.

The US built up a massive gold reserve under Roosevelt - the depression was deepened b/c a significant portion of that gold was no monetised which led to the deflation. 
i see these scare stories - will be government make gold illegal? Blah blah blah. Personally i see it as click bait

Harold Wilson amended the '1947 Exchange Control Act' to restrict gold ownership so that owners of more than four gold coins and bullion dealers were required to be licensed. So people owned gold as jewellery and the Act was repealed in 1971.
If anyone is concerned about the government snatching gold then collecting gold jewellery would be a way round this. During the US confiscation you could own gold in this way but were supposed to turn in coins.

[Abyss]

For Gold ownership to become globally illegal every government in the world would need to have coordinated policy and enforce the policies unilaterally. The chances of this happening are zero hence there always be a market place for gold regardless of what "some" governments may decide to do in the future. With the pandemic and massive money printing currently happening in the next 2 to 10 years you have an almost certain bet (85%) Gold will rise significantly in value. Stories in the mainstream media about Gold confiscation take it for what it is worth propaganda to try and keep Joe public away from real money and continue to utilise debt instruments the fiat currency.

[Prophecy]

Expect all bullion to be melted down and turned into basic jewellery if this happens. I will put Mr T to shame.

[MancunianStacker]

1 minute ago, Prophecy said:

Expect all bullion to be melted down and turned into basic jewellery if this happens. I will put Mr T to shame.

Thought the same 

[Prophecy]

1 minute ago, MancunianStacker said:

Thought the same 

Alternatively........... turn your PMs into barbell plates (painted of course). You'd still need a steel bar to hold them but they'd be smaller than your standard iron ones so better suited for snug home gym.

[kimchi]

On 22/05/2020 at 07:43, Abyss said:

For Gold ownership to become globally illegal every government in the world would need to have coordinated policy and enforce the policies unilaterally.

So, more or less (about as close as it gets) what we have had with the COVID 'response'.

On 22/05/2020 at 07:43, Abyss said:

The chances of this happening are zero hence there always be a market place for gold regardless of what "some" governments may decide to do in the future.

As approximately 100% (give or take a few lone 'nutters') of the world would have said about this COVID 'situation'.

[MancunianStacker]

27 minutes ago, Prophecy said:

Expect all bullion to be melted down and turned into basic jewellery if this happens. I will put Mr T to shame

[Martlet]

49 minutes ago, Prophecy said:

Expect all bullion to be melted down and turned into basic jewellery if this happens. I will put Mr T to shame.

If they need gold they'll be taking gold jewellery too.  

[Xander]

48 minutes ago, Prophecy said:

Expect all bullion to be melted down and turned into basic jewellery if this happens. I will put Mr T to shame.

This poor Chinese guy got caught with 13.5 tonnes of gold in his cellar. Mr T would love this.

[OriginalS]

It's not the 13.5 tonnes, it's how it was acquired that probably got him in trouble 😂

[Prophecy]

40 minutes ago, OriginalS said:

It's not the 13.5 tonnes, it's how it was acquired that probably got him in trouble 😂

A nice 13.5 t to add to the secret CCP gold reserve.

[Foster88]

I’d do what they did in the Sky series Babylon Berlin.

I’m not giving it away as it’s a spoiler alert for a very good programme. Anyone who’s watched it will know what I mean.