Hi,
Gold was not available to Americans for many years. We were not allowed to hold gold in this country from 1934 to 1974. Confiscation of gold was practiced in the United States in the Great Depression. Confiscation is a strong word since houses were not searched and looted. Folks had to turn in what they had and were paid paper dollars for the current worth. A $10. gold piece received $10.
The Congress passed a bill, "An Act to Provide Relief in the Existing National Emergency in Banking and For Other Purposes". It allowed FDR (Franklin D. Roosevelt) to made gold illegal in 1933. It became a federal crime with a $10,000. fine and/or ten years imprisonment for a US citizen to have gold coins or bullion. Being an illegal alien was a more prosperous state in 1933 since gold coin and bullion were at that time abundantly and freely in circulation. Thanks Frankie! In 1934 gold was revalued from $20.67 to $35. an ounce, therefore, the average citizen could not profit from that change in value. I say the average citizen because those with influence and large holdings shipped what they had in gold in bags to Switzerland and Great Britain where it lay at the bottom of vaults until gold was again allowed in 1974.
If bad times like these are ahead this is what you need: a leather bag; a secret Swiss, Bermuda or Bahamian bank account and/or safety deposit box; and an airline ticket to one of the above. Of course, you must be prepared to leave your stash there until the law is in your favor which could be some time.
Exceptions to the confiscation rule were numismatic gold coins (coin collection objects); gold used in the normal course of business (jewelry, dental, artisans)but not in large quantity; and each citizen could have $100. face value of gold coins or Gold Certificates; gold mining, refining and exporting were allowed.
The executive order was written to be limited to the period of emergency only but it evidently was not considered to be over until 1974. PULEEEZE!!!??? It seems to me that we are long overdue in reducing Executive powers not just about war. Congress is slow moving but in every sense of the word that is more often a plus than a minus for the freedom of U.S. citizens.
GUESS WHO freed the American Public???????? The President, whom you believed his only act was pardoning Richard M. Nixon. GERALD R. FORD gave us back our rights on the last day of 1974. Evidently to that date, he was the only AMERICAN PRESIDENT since the founding fathers who believed in the rights of a FREE people and that the 1933 crisis was over.
J. KENT WILLIS in an editorial on the Web, "The Gold Confiscation Issue", says it well: "The gold confiscation edicts were born from the illicit union of Mother Fear and Father Hubris in the midst of the depression."
When good old Jerry legalized gold for solid citizens, coins from the 1930's appeared in U.S. market that hadn't been seen for years, many of which were thought to be numistically rare (a bad hit for collectors). None-the-less U.S. citizens could again purchase gold coins and bullion.
Meanwhile, gold is now prevalent in many countries. We have the Gold Eagle, Canada has the Maple leaf, South Africa has the Rand etc. They all now have some competition from Islamic countries who in 1992 began exploring reissuance of the Islamic Gold Dinar and the silver Dirham both high grade metals.
In 2006 Kelantan, a part of Malaysia, became the first state to launch gold dinar coins. The DEK (DINAR EMAS KELANTAN) is similar to the original dinar. As early as 1992 founders of e-dinar Ltd. and FZ-LLC (Dr. Zeno Dahinden, Switzerland; Prof Fernando Vadill, Spain; Dato Abdul Rahman Shariff, Malaysia) minted the first gold dinar and silver dirhams in Spain.
How much of this gold and silver is currently in circulation is unknown. The original company is now owned by an unnamed middle-eastern corporation who call it the e-dinar company and mints gold and silver coins in the United Arab Emirates and Indonesia. Certainly the Arab states don't intend to be caught with their FIATS down!
One can certainly see Islamic gold could be used as a weapon against our weakened dollar and what that can mean if we continue to use paper without gold backing. Politicos are always about two things: Power and money no matter what good causes or religious fervor they may espouse. Lose either position and a new team goes to bat.
Gold was not available to Americans for many years. We were not allowed to hold gold in this country from 1934 to 1974. Confiscation of gold was practiced in the United States in the Great Depression. Confiscation is a strong word since houses were not searched and looted. Folks had to turn in what they had and were paid paper dollars for the current worth. A $10. gold piece received $10.
The Congress passed a bill, "An Act to Provide Relief in the Existing National Emergency in Banking and For Other Purposes". It allowed FDR (Franklin D. Roosevelt) to made gold illegal in 1933. It became a federal crime with a $10,000. fine and/or ten years imprisonment for a US citizen to have gold coins or bullion. Being an illegal alien was a more prosperous state in 1933 since gold coin and bullion were at that time abundantly and freely in circulation. Thanks Frankie! In 1934 gold was revalued from $20.67 to $35. an ounce, therefore, the average citizen could not profit from that change in value. I say the average citizen because those with influence and large holdings shipped what they had in gold in bags to Switzerland and Great Britain where it lay at the bottom of vaults until gold was again allowed in 1974.
If bad times like these are ahead this is what you need: a leather bag; a secret Swiss, Bermuda or Bahamian bank account and/or safety deposit box; and an airline ticket to one of the above. Of course, you must be prepared to leave your stash there until the law is in your favor which could be some time.
Exceptions to the confiscation rule were numismatic gold coins (coin collection objects); gold used in the normal course of business (jewelry, dental, artisans)but not in large quantity; and each citizen could have $100. face value of gold coins or Gold Certificates; gold mining, refining and exporting were allowed.
The executive order was written to be limited to the period of emergency only but it evidently was not considered to be over until 1974. PULEEEZE!!!??? It seems to me that we are long overdue in reducing Executive powers not just about war. Congress is slow moving but in every sense of the word that is more often a plus than a minus for the freedom of U.S. citizens.
GUESS WHO freed the American Public???????? The President, whom you believed his only act was pardoning Richard M. Nixon. GERALD R. FORD gave us back our rights on the last day of 1974. Evidently to that date, he was the only AMERICAN PRESIDENT since the founding fathers who believed in the rights of a FREE people and that the 1933 crisis was over.
J. KENT WILLIS in an editorial on the Web, "The Gold Confiscation Issue", says it well: "The gold confiscation edicts were born from the illicit union of Mother Fear and Father Hubris in the midst of the depression."
When good old Jerry legalized gold for solid citizens, coins from the 1930's appeared in U.S. market that hadn't been seen for years, many of which were thought to be numistically rare (a bad hit for collectors). None-the-less U.S. citizens could again purchase gold coins and bullion.
Meanwhile, gold is now prevalent in many countries. We have the Gold Eagle, Canada has the Maple leaf, South Africa has the Rand etc. They all now have some competition from Islamic countries who in 1992 began exploring reissuance of the Islamic Gold Dinar and the silver Dirham both high grade metals.
In 2006 Kelantan, a part of Malaysia, became the first state to launch gold dinar coins. The DEK (DINAR EMAS KELANTAN) is similar to the original dinar. As early as 1992 founders of e-dinar Ltd. and FZ-LLC (Dr. Zeno Dahinden, Switzerland; Prof Fernando Vadill, Spain; Dato Abdul Rahman Shariff, Malaysia) minted the first gold dinar and silver dirhams in Spain.
How much of this gold and silver is currently in circulation is unknown. The original company is now owned by an unnamed middle-eastern corporation who call it the e-dinar company and mints gold and silver coins in the United Arab Emirates and Indonesia. Certainly the Arab states don't intend to be caught with their FIATS down!
One can certainly see Islamic gold could be used as a weapon against our weakened dollar and what that can mean if we continue to use paper without gold backing. Politicos are always about two things: Power and money no matter what good causes or religious fervor they may espouse. Lose either position and a new team goes to bat.
Cheers, Connie
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