Gold

As the paper money of nations goes further into turmoil, many have asked me about buying gold. The argument for gold is that is has "never been worth nothing". That may indeed be true. But I will remind my faithful readers that if times continue worsen, the government may, in fact, confiscate your gold. "Impossible!", you might say. I'd like to think so, but sadly, it's been done before.

Thus, early in his presidency, on April 5, 1933, Roosevelt signed Executive Order 6102, which ordered people to turn in their gold to the government at payment of $20.67 per ounce. While there were some exceptions for dental use, jewelry, and artists and others who used gold in their jobs, most people were not covered. (Individuals could hold up to $100 in gold coins, but the government confiscated the rest.) Furthermore, the president’s order nullified all private contracts that called for payment in gold, something that led Sen. Carter Glass of Virginia to declare that the whole thing was “dishonor.”

And yes, we are currently repeating the same mistakes that led to the depression of the 1930's.

Read full article here; http://www.lewrockwell.com/anderson/anderson154.html