zovirax medication brand lanoxin for sale entocort rx long menstrual cycle clomid real ephedra diet pills for sale differin on line no script buy lipitor with visa cipa certified canadian international pharmacy very cheap renagel dapoxetine woldwide shipping cheap diclofenac generic 50mg thyroid medication for cats healthman pillow ventolin tablets australia western drug floxin tulasi online cheap no prescription fincar side effects of viagra on old men doxycycline monohydrate 100 mg oral tablet viagra plus online in usa retin-a 0,025 buy online ireland phone in order for ranitidine best cialis soft prices cipla cheap coreg 12.5 mg tablet florida indinavir capecitabine xeloda uk where to buy tetracycline buy hytrin cheap allegra now over the counter top 10 online lasix sites top drugstore primers order blopress pill best medication for anxiety during pregnancy olanzapine teva 2.5mg can we trust calan online clomid pharmacy prices better than aricept bupron sr anacin medicine children what doses does prilosec come in can i get high from furosemide bupropion classification drugs costco opening times gateshead buy viagra on line no prescription flexeril side effects in men can i buy retin in canada trazodone uk next day delivery buy liv 52 online overnight how much does lopressor cost without insurance buy over the counter voveran sr online caverta 25 for women mobic 7.5 mg tab side effects what is apcalis sx drugs eat healthy manchester acheter midamor pas cher penegra with no rx over the counter duphalac quando si usa il femara norco sight 3 se 2012 review aurochem group buy cheap online order abana tamoxifen side effects skin cheap online viagra pills skelaxin in italia cheap citalopram sale uk aceon 20mg tab ampicillin pharmacies canadian cheap lady era cheap price tegretol xr prices januvia lawsuit 2010 prandin no prrescription selegiline atypical depression buy betnovate paypal arimidex without a prescription from india overnight top offers online order pariet buy combivent pills online what does paxil look like cheap revatio mg best place to buy cardizem without a prescription sinemet online overnight shipping luvox generic name top rated generic viagra pharmacy zestril 10 mg side effects rabeprazole tablets ip uses clozaril combination schizophrenia purchase roxithromycin pills cvs canada online drugs protonix side effects liver missed dose synthroid symptoms coreg 100mg tablet motilium online without prescription motrin ib 100 tablets seroquel over counter get prescription medicine online pharmaceutical society of northern ireland purim usa cvs prices american lithium stock symbol vardenafil 20 mg with dapoxetine 60 mg aygestin drugstore.com where do i zoloft in usa pill identifier oxycontin 40 order lopid overnight buy brand cialis with visa buy cyproheptadine hydrochloride online buy tamoxifen 50 buy ashwagandha bulk cost of bupropion xl 300 mg alphagan p rxlist lisinopril no prescription generic se comprar viagra farmacia what is the usual dosage for seroquel buy trental from canada generic neurontin side effects order sominex tablets pharmacy mexico apcalis sx pharmacy mexico paxil keppra mims australia cheap glucophage buy what is prednisone ingredients over the counter voveran generic apcalis sx paypal grapefruit and blood pressure medication mexitil manufacturer best pharmacy to order metoclopramide actos discount medicines is viagra ok for young men piracetam buy online half price prandin legal to buy fluoxetine independent pharmacies on cape cod buy generic ginseng cafergot pills online in the india minipress sublingual dosage floxin pills drugstore celebrex sales 2011 wean off paxil 20 mg cyklokapron sale buy septilin usa triamterene 100 mg po b.i.d. p.c how to take diclofenac mg spironolactone tablets crestor statin cardura xl 4 mg side effects is antivert sold over the counter buy cozaar next day canadian norvasc benefits of acai berry pills nexium for men in usa buy beconase aq without a script best university pharmacy canada zestril usa cvs prices buy ortho tri cyclen lo no prescription costco pharmacy zyban price cheap ampicillin per pill cicloferon suspension varicela generic cialis next day delivery generic proscar no prescription can order lariam canada betnovate wanted online review himalaya ashwagandha price india where to torsemide motilium over counter uk cheap vasotec 20 mg prilosec mexico brand aleprozil can you take didronel daily trazodone tired next day acticin discount code how to use risperdal genuine rumalaya forte 100mg rechargeable lithium batteries for sale azithromycin 250mg doctor side effects of betnovate-gm best online pharmacy for hcg cheap allinclusive holidays egypt halloween costume contact lenses cheap pay by check online pizza best online pharmacy tech schools ventolin india pharmacy buy purinethol online usa what is tadalafil my vasodilan coupons motilium equivalent in usa buy viagra new zealand online zebeta prices does allegra affect birth control pills viagra professional pas cher what is the prescription drug cephalexin used for buy eurax paypal generic for cymbalta 2013 is alli diet pills available in canada grifulvin v daily use reviews how old do i have to be to buy viagra genuine keftab 100mg actoplus met perth australia trandate roche precio argentina allopurinol tablet sale viagraindia etodolac over counter uk triamterene billig kaufen side effects of propranolol how to get viagra on nhs mail order pharmacy jobs austin tx little blue pill with a d on it does zanaflex make you gain weight cheap celebrex celecoxib 200 mg viagra patent expires buy malegra fxt perth australia ordering pletal lithium prices historical chart diamox canada companies only pharmacy viagra echeck accepted mejor clomid omifin how much is urispas tablets compare accutane prices noroxin no prescription compare prices atorlip-5 delivery flonase new zealand pharmacy what symptoms does prevacid treat pamelor for men in usa flomax from boots better than cephalexin ampicillin pill shortage getting cephalexin in australia retino-a cream 0,05 legal in england seroquel doses for sleep zestoretic over counter femara daily use reviews cialis 20 mg 2 tabletas how much will zyrtec cost serevent billig kaufen online pharmacy no prescription needed aciphex cheap accutane for sale can get propecia nhs tamoxifen coupons cialis professional pills buy online cialis jelly generic wikipedia drugs levitra reviews 2012 what is malaseb spray used for thuo^'c doxycycline capsules bp toradol online store vardenafil 40 mg over the counter medicine for severe back pain accutane dosage increase buy atrovent astrailia kosovarja tu qi video free fertility pills for women what is doxycycline taken for generic indocin no prescription famvir mg buy order non generic tamoxifen long term side effects of sinequan himplasia order express chemist uk review best place buy antivert walgreens valtrex prices discount apcalis sx mg medicare viagra coverage what is phenergan injection used for nootropil buy online uk buy generic accutane mevacor cheap order finast online in usa bleeding after sex whilst on the pill purchase cheap doxycycline online generic ed express pharmacy amoxil buy on line crestor without a prescription from australia 25 mg viagra cheapest genuine cialis online can you buy aciclovir in ireland buy canada no prescription for artane diltiazem er patient reviews viagra plus cheap uk buy kamagra chewable australia buy online ditropan generic noroxin no rx generic equivalent for prometrium eulexin 100 review orlistat sales 2008 botanical slimming tablets para que se usa la pastilla ciprofloxacino cheap prograf india cytotec 200mg dosage zantac pharmacy prices list best cialis soft prices cheapest zebeta drug store online nizagara tablets from buy differin pills online in the canada buy anastrozole australia buy kamagra soft without rx cheap dutas usa side effects lisinopril 10 mg tablet methocarbamol side effects low cost antibiotics canada can i make tegretol can i get elimite synthroid with prescription diclofenac sodium topical gel otc nike air max 95 360 uk avapro for sale usa Purchase singulair 4mg kamagra oral jelly not generic best drugstore makeup remover wipes is the generic for plavix safe alphagan dose cialis jelly india canadian pharmacy no prescription needed viagra buy mentat mexican pharmacies buy hoodia gordonii plus australia procardia drug store online where can i buy revatio in canada skelaxin dosage instructions can you buy cialis online with no prescription get clomid online what does astelin dog acquisto hyzaar sicuro online pariet sublingual dosage brafix online ordering suhagra rx canada drugs levlen with prescription fexofenadine hcl 60 mg can you die from naproxen overdose zyrtec by mail order orlistat from canada floxin comprar zithromax uses std no prescription actonel bevispas tablets vantin where can i buy it methylprednisolone side effects mood tc tetracycline fish healthy heart rate for 16 year old male buy cordarone boots pharmacy midamor price buy tamoxifen from mexico online lexapro uk pharmacy manly sildenafil citrate tablets cooper pharma cytotec without prescription viagraa espanjasta skelaxin online bestellen allegra prescription coupon orlistat shortage 2012 uk imuran online coupon code what is cialis soft made of does zestoretic cause weight gain tretinoin 0,05 over counter triamterene drug schedule how to take fml forte mg what is the price of flovent inhaler tinidazole 500mg tablets order atarax uk what is the dosage for celebrex buying trandate doxycycline hyclate 20mg price what drug category is decadron best place to buy exelon in canada generic estrace india cipro antibiotic uses non prescription tretinoin 0,05 pharmacy prescriptions drugs cheaper canada western drug januvia viagra vs cialis vs levitra alcohol cialis on line india purchase exelon patch types water pills high blood pressure pharmacy has best price ashwagandha best online pharmacy generic fosamax acivir pills pharmacies vermox refill pack chloroquine where to purchase generic viagra rhinocort aqua nasal spray over counter can order tretinoin 0,025 canada flovent diskus 100 mcg coupons cleocin 100mg tablet nolvadex western australia prescription drug brand cialis buy zanaflex capsules take allopurinol still get gout low cost alli loss health care reform viagra for sex offenders what is the dosage for methotrexate get coumadin las vegas buy diclofenac in australia brand viagra sale approved cialis what does inderal cheap amaryllis bulbs buy canada drugs levaquin medicine india amantadine price purinethol with paypal payment zantac pregnancy drug class can i take doxycycline and cold medicine cheapest place to buy alli approved buying nimotop from canada no prescription max effexor xr doses exelon prescription assistance program tulasi overnight pharmacy 5 mg accutane per day buy lady era next day buy prednisone online amazon is generic paxil the same anxiety medication lexapro side effects where do i lisinopril in uk pfizer generic products hydroxyzine hydrochloride usp 25 mg aldactone discount code orlistat dosage information buy forzest pills online antabuse indiana emsam side effects insomnia quiero comprar reglan fast and cheap cialis cheap zebeta sale uk valacyclovir side effects hair loss nexium online usa buy suprax cefixime online antibiotics for fluid on the lungs what is estrace for ivf forzest mg price elimite medicine children viagra plus sale order pharmacy liv generico online celebrex 200 mg dosage vantin tablets side effects safe buy bactroban online proscar in croatia ephedraxin tablets price cost of dutas prescription medicine for acne and pimples eulexin online overnight shipping cost of viagra at tesco alphagan eye drops dose generic lisinopril us generic elavil for sale on line non prescription maxaman artane generic cheap costs motilium syrup dosage for children lithium online price anastrozole cipla buy discount best place to buy cialis professional in canada himalaya serpina tablets prednisone 20mg for asthma isotretinoin buy no prescription wellbutrin drug class what type of medication is glucophage best price for 20 mg cialis where to buy safe antibiotics online because generic uroxatral uk paypal buy clozaril online no prescription canada best levitra professional prices prescription buy albendazole in india online cheap depakote 100 mg online pharmacy reviewer forum buy generic adderall online no prescription colchicine order no prescription pharmacy sales courses ireland lloyds pharmacy store locator leicester buying micardis starlix discount card buy sustiva boots symptoms of too much thyroid hormone medication ceftin australia price cost comparison generic silagra viagra fenofibrate micronized 67 mg capsule femara india sale buy betapace boots buy alesse online maximum singulair dose diarex to buy from europe over counter alternative synthroid non prescription moduretic luvox without a prescription from india clavamox 500 untuk ibu hamil decadron reviews and dosage pravachol for men in usa buy pain meds online without rx buy over the counter aristocort online viagra jelly mg tablet buy generic feldene online typical prednisolone dose for asthma what is lisinopril-hctz 20-25 best price aldactone malegra fxt uk online cheap generic noroxin dostinex mais barato em curitiba nolvadex buy online us allopurinol side effects hair loss steel erection blue pills prednisone discounted comprar citalopram original ampicillin drugstore buy online retin-a ge uses medication best price for real ortho tri-cyclen premarin 0.3 mg tablet prevacid sale what is meloxicam 15 mg tab used for buy aldactone no prescription fast delivery yagara mg buy fucidin canada pharmacy risperdal online usa buy elocon online safely buy valacyclovir hcl online how to purchase biaxin retin a cream online india buy arjuna no prescription donde comprar pastillas yasmin pharmacy reviewer forum drugs cialis capsules ono la florida aravaca enteric coated aspirin side effects what is terramycin used for in chickens aspirin dose what symptoms does promethazine codeine treat quiero comprar tegretol where do i proventil in uk emsam comprare where can i purchase suprax acyclovir vs. valtrex for oral herpes toradol tablets price cardura comprar tinidazole on the internet how to take nolvadex and clomid over the counter drug comparable to nexium thalidomide history in australia ron paul supports citizens united side effects of prescription drug lisinopril bayer timed release aspirin generic name can you buy cabgolin online prednisona dosis 5 mg cheap pharmacy online uk no rx viagra sublingual online venlor tablets 40mg allegra 180 mg price will accutane cause weight gain plavix 75mg side effects erection packs 21 by mail where suhagra tinidazole giardia effectiveness ortho tri-cyclen discounted accutane reviews nhs can you only get levothroid on prescription does cephalexin cause weight gain bupron sr from mexico overnight delivery alphagan online motilium max dose where can i buy ocu-glo rx were to buy viagra online how to use valtrex for cold sores comprar duphalac portugal cialis originale farmacia italiana singulair allergy medication side effects albendazole drug schedule fluoxetine hcl missed dose diclofenac sodium serratiopeptidase tablets side effects lamisil online australia pharmacy buy glyset usa where can you buy acai optimum in australia india avodart price is generic synthroid safe where to buy acai berry in london ontario fgr 100 blue pill mp doxycycl hyc 100mg acne reviews ordering acai berry billig minocycline online kaufen donepezil hydrochloride wikipedia nizagara generic usa purchasing levitra plus online purchase cialis jelly cheap buy metformin online no prescription canada can i get high off synthroid calan online pharmacy prescription strength allegra buy brand advair diskus in usa comprar viagra para mujer amaryl drugs oral are there side effects when stopping wellbutrin clarithromycin side effects insomnia reviews on depo provera injection what is ventolin hfa prescribed for zofran on line for sale no script quick delivery viagra online cipro pills for eye infection buy hytrin no prescription fast delivery singulair online usa no prescription buy amoxil visa cheap differin online augmentin tablets for purchase crestor and birth control pills overnight professional viagra delivery without prescription buy zofran capsules lasix side effects in cats sumycin brand order viagra in canada no prescription generic kamagra chewable cost prevacid pills online in the mexico is it illegal to order generic atacand methotrexate ectopic generic zanaflex for sale on line buy anafranil pills buy glimepiride 4 mg mail order generic endep buy nymphomax tablets online can i get famvir over the counter imitrex ordering online pharmacy uk buy depakote without prescription generic name for sinemet purchase tamoxifen in india buy ciplox visa buy cheap aciphex online quality lotrel pharmacy mail order how much does accutane cost in the uk awc canadian pharmacy discount why has acivir pills been discontinued glucotrol without a prescription signs of chlamydia in the eyes 1 gram azithromycin half life where do i buy diovan did generic uroxatral become available buy cyproheptadine order canadian prescriptions online diabecon uk online do i need a prescription for finast deltasone online forum dosage cheap aspirin free delivery can you order sinemet diclofenac generic dosage buy aricept discount levitra professional in croatia proscar cheap price generic viagra 50mg price long term side effects of betnovate blopress online in usa buy cheap kamagra me uk order citalopram from canada buy atarax online india costco pharmacy aricept price rogaine 2 online in us cipro delivery london cialis soft generic equivalent where to get propecia from what does metoclopramide treat can you buy rhinocort over the counter in germany ryobi lithium sale doxazosin usa cvs prices generic innopran canada lasix now imuran dosage instructions prednisolone with no rx buy prometrium singapore online pharmacy prednisolone cost of illegal drugs in canada buy hydrochlorothiazide usa benicar medication cost floxin medication online alli price australia online pharmacy glucotrol xl ciprofloxacin milk products nizagara online store prednisone side effects weight gain buy paroxetine quick hoodia discount voucher ordering relafen kamagra tablets offers buy revatio online no prescription united states lb ampicillin shelf life can you buy propecia boots cheap genuine haridra online tadacip birth control online india grifulvin v usa sale order benadryl overnight buy risperdal 100mg online where to oxytrol efectos secundarios de tomar lisinopril calan shop net canada cheap viagra jelly all needed generic lexapro vs brand nizoral next day delivery canada and trazodone actos no prescription canada glyset reviews uroxatral cheap price cheap brand levitra generic nootropil buy canada nizagara india companies only costco pharmacy florinef price where can i get maxalt pills buy nimotop online from usa cymbalta reviews australia how long does depakote take to work for migraines buy amitriptyline 10mg tablets pharmacy buy cialis mexican pharmacies exelon cost without insurance content marketing examples prescription lamisil pills fast acting 20 mg cialis from cannada prevacid on the internet lexapro drugs albenza shelf life buy procardia online with mastercard rx online reviews natural testosterone cream for women side effects buy tomtom go live 1005 where can i get premarin buy brand viagra with visa can you order metoclopramide order ranitidine cheap tamsulosin otc guidance ordering minocycline canada when did zyrtec become over the counter cialis plus puissant viagra lowest priced zetia best price for real acai online forum prescription seroflo inhaler doses imuran myasthenia gravis reviews glucotrol xl from is generic astelin available in usa celexa online usa no prescription methotrexate brand name india chloramphenicol ordering no prescription como se toma omifin 50 mg what is skelaxin 800 mg prescribed for buy noroxin online cheap zyvox 30 mg allopurinol zyloprim 100 mg female viagra tablets india prednisone 20 mg for asthma overseas pharmacy no prescription tenormin buy benfotiamine visa buy abilify online no prescription us 1000 mg prednisone iv lasuna for sale accutane results patients lov cost hyaluronic acid allopurinol medication side effects indian pharmacy nitroglycerin can buy fluoxetine uk cheap drugstore online low discount buy acivir pills free zithromax online ordering valtrex valacyclovir hcl what is allegra direct fosamax once monthly dose brand name digoxin online topamax seizure medication side effects is mail order gyne-lotrimin safe what is allopurinol tablets used for can you get pregnant while on danazol alphagan online order zanaflex 4mg side effects buy entocort hong kong 200mcg online wellbutrin sr refills levaquin buy no prescription fastest aristocort uk delivery diltiazem without prescription canada crixivan/indinavir stones plavix lawsuit update noroxin cost in canada fast zenegra deleviery buy generic aygestin what is allied health assistant stromectol new zealand tramadol us pharmacy overnight pharmaceutical machinery manufacturers imuran phone orders buy tegretol no prescription fast delivery is it legal to buy kamagra ordering revatio uk long term side effects of taking amitriptyline pharma online fluoxetine best site get colospa zoloft billig kaufen irbesartan side effects karvea flagyl er online uk pill rx health proventil products medrol 16 mg tablete prospect stromectol to buy from europe lov cost lexapro order generic himcocid buy levitra super active new zealand online can you still get a blood clot on coumadin order ayurslim online uk flagyl er 40 mg dose pulmicort generic reviews fluoxetine hydrochloride 20 mg and alcohol canada and erythromycin buy kamagra with hormone medicine premarin order differin online without rx how long for accutane results sensitive skin+after accutane what is cialis good for craigslist new york city tickets genuine pfizer viagra delivers buy colospa mg metronidazole 500mg buy generic maxalt with bonus retin-a 0,025 generic reviews avodart price canada cytotec no prescription canada generic differin in order online indian generics online avandamet haldol generic release date allegra d generic over counter promethazine codeine buy online overseas no rx pharmacy crestor price in malaysia accutane australia how to use confidor order motilium actoplus met online bestellen ditropan drug classification buying combivent online digoxin tablets for dogs buy ciprofloxacin canada how to buy viagra plus in london accutane sale uk canada and nizoral indian levitra com what is lotrisone pills used for kosovarja forum nolvadex price uk wellbutrin sr reviews adhd tinidazole purchase in canada no prescription accutane without prescription comprar zithromax portugal cheap generic citalopram is it illegal to order generic lincocin canadian health services research foundation commitment and care can you take haldol daily terramycin dosage recommended amantadine 100 where to get viagra soft buy depression pills online retino a cream india prednisone 20 mg oral tablet how long does it take to feel the effects of citalopram speman over the couter ultra low dose ranitidine what are etodolac pills for sildenafil citrate 100mg pills does unisom cause next day drowsiness pharmacy assistant salary ireland order trazodone without rx cialis contact information world select pharmacy coupon code buy clomiphene citrate online uk clomid low dose birth control buy glucotrol xl overseas viagra montreal a vendre what is caverta used for can i get cialis luvox mg price purchase levaquin lowest price zyprexa withdrawal side effects hyde park kroger pharmacy cincinnati white oval pill that says watson 540 where can i purchase probalan best brand birth control pills pcos antivert pill shortage lopid 600 mg yasmin pills sweat buying cialis soft for dogs can you get high off ciprofloxacin 500mg purchase lanoxin no prescription prednisolone drug in mexico pharmacy suhagra tablet price side effects of overdosing on trazodone combivent next day how to use lithium aluminum hydride sotalex 80 mg effets secondaires adhd medicine strattera side effects cheapest tenormin antabuse overnight shipping cheap over the counter azithromycin or doxycycline side effects of cytotec for abortion zyrtec dose for adults discount fertomid mg generic propecia from india can you buy acivir pills mg pharmacy buy orlistat generic drugstore makeup blog sucralfate carafate over counter buy propranolol online in canada buy proscar online in usa buy brand viagra soft azithromycin dihydrate solubility singulair drugstore.com prescription drugs for genital herpes bupropion tablets india clozaril uk online buy apcalis sx 200 inhalers sale uk cheapest ventolin prices buy imitrex online cheap azulfidine sublingual dosage how to use lithium what is famciclovir 500 mg micardis delivery london zoloft lawsuits settlements cheap buy zyvox rx where zebeta digoxin online pharmacy uk buying revatio for dogs best professional prices cheapest generic cialis prednisone online in usa aspirin 100mg cheep order risperdal consta generic dipyridamole for sale on line aspirin complex new zealand proscar results pictures viagra jelly best price buy skelaxin in canada no prescription wellbutrin sr med cab epivir-hbv best place to buy retin-a 0,025 propecia finasteride price buy motrin from mexico online aurochem laboratories i private limited effets cialis 20 cheap diclofenac online femara cost without insurance levofloxacin dose in dogs can you buy pariet over counter clomid generic vs brand name moduretic 5-50 dosage buy alesse online no prescription overnight through lok adalat scope provera purchase in canada no prescription where to get decadron pct ginette-35 mail order maxalt 10mg comprar is it safe to order revia generic adalat overnite shipping generic minocin usa pharmacy depakote er weight gain reviews buy provera online uk is propecia legal in uk canadian online pharmacy for capoten trazodone 100 mg tablets can order carbozyne canada what are the side effects of the drug norvasc piracetam experience report cialis soft coupon code albuterol inhaler pregnancy 30 mg prevacid over counter viagra order online uk where to buy phentermine hydrochloride 37.5 mg sominex uk brand name pastillas disgrasil precio online rumalaya liniment india buy emsam online usa glucotrol xl buy canada licensed pharmacy atarax vet-vipps online pharmacy generic singulair prices retail cost of advair diskus zofran billig kaufen cost of strattera 10 mg online pharmacy toprol xl is chloroquine available over the counter baclofen australia topamax side effects hair loss tetracycline canada head office aceon billig kaufen buy flagyl er paypal accepted elavil online in uk what is acivir pills tablets order clomid medication by mail nitroglycerin daily use reviews valtrex spain aldactone prescription effects drug information how much does once daily cialis cost where to pletal cheap endep 100 mg skelaxin wanted online review buy viagra without prescriptions uk quando usare il lasix american heart association aspirin during heart attack prometrium price comparison diclofenac sodium 50 mg tabletki cardizem where can i buy it acai 10 mg cost viagra super active cheapest rate where to buy cheap viagra review flagyl comprimidos 500 mg resources for independent living inc richmond my twitter stats where purchase cholestoplex buy baclofen pills online antabuse order in the us vente de crestor au quebec relafen overnight delivery buy effexor xr pills in the us acheter bactrim pas cher where to buy diflucan over the counter fluconazole online buy gabapentin japan promethazine and codeine cough syrup street value propranolol 40 mg alli over the counter diet pills orlistat can we trust colospa online buy lotensin 100 toprol for anxiety vasotec for sale online to buy zyloprim in uk research grade ranitidine kamagra gold mg price kamagra oral jelly how to use how to use neurontin for opiate withdrawal v the ultimate herbal viagra alternative flagyl generic safe place order ranitidine colospa online forum ordering 60 milligrams of prozac online pharmacy uk xalatan where to buy naproxen 500mg acivir eye ointment side effects where to buy colchicine online usa zyrtec for men in usa mobic brand order parivarik mahila lok adalat purchase viagra melbourne buy actonel in canada buying viagra with paypal vipps praziquantel for cats injection zyloprim discounts codes buy prevacid solutab canada buy meclizine in india online can you get high on claritin d buying aceon canadian controlled drugs and substances act section brand amoxil medicine online isoptin order missed dose of depakote er snorting gabapentin capsules is it safe to order zofran when last will and testament a generic for actos be available buying toprol xl from canada no prescription liv 52 liver medicine celebrex tablets buy get imitrex las vegas buy viagra in usa trental online forum neurontin billig kaufen famvir dosage where can i purchase amaryl proventil prescription mevacor order what does zovirax do to cold sores generic for cafergot online forum cod phenergan overnight naprosyn sr 750 mg 10 tablet antivert reviews for men leukeran cats price tulasi legal us ultra low dose flomax bactrim ds side effects fatigue levitra professional costco buy trileptal hong kong prescription order plavix usa buy zestril tablets is tretinoin 0,05 available over the counter periactin purchase canadian pharmacies that fill motilium acticin 100mg cheap lamisil comprimidos dosis testosterone therapy for women where alligators live cialis jelly 40 mg pharmacy shatavari australia pharmacy allegra usa sale order erection packs 11 viagra can order zyprexa online prilosec what is it used for buy betapace 50 buy nizagara tablets us where to purchase quibron-t finpecia cipla side effects kamagra gold lawsuit settlements buy adalat 15 mg silagra cheap india pharmacy switching from zoloft to effexor xr diovan canada head office eulexin non perscription countries celexa lexapro wiki yasmin lawsuit update november 2012 rumalaya liniment shortage lloyds pharmacy online malarone bonsai ficus ginseng sale nizoral dose unica walmart alliston ontario walk-in clinic lasix comprar lukol overnight pharmacy lortab 5 wiki buy erythromycin buy cleocin gel fast shipping over the counter noroxin lithium ordering online pharmacy can you get aspirin over the counter beat way to order vpxl cheap avapro 150mg generic tadapox can you get lexapro in canada gliclazide 80mg metformin 500mg antabuse schedule drug cheapest levitra canada buy doxycycline over counter como comprar propecia how long does it take mobic to start working can i make bupron sr tenormin how to buy what is levoxyl taken for best online pharmacy generic norvasc lipothin no prrescription medrol with no rx buy rhinocort online pharmacy non prescription viagra soft tricor no prescription how to purchase prilosec kamagra gold prices at costco maxalt no prrescription order generic yaz online where can i buy xenical uk purchasing lozol online uk order menosan pharmacy mexico reglan is cozaar available over the counter do you gain weight after stopping alli zoloft weight gain study buy female viagra online cheap buy best viagra uk cheap dutas sale uk arimidex online coupon code lasix over the counter what is lexapro for uses comprar viagra farmacia ahumada purchase aspirin purchase zyloprim online i dont need viagra im italian ampicillin concentration for selection que es cytotec como se usa official viagra site apo-baclofen uses speman pharmacy coupons sale acticin liquid glyset review can you buy shuddha guggulu pharmacy how much is viagra without insurance buy lopressor capsules lipitor sales history buy aristocort online in usa buy viagra florida antivert shelf life what is erythromycin made of estradiol implant side effects what is avapro medication for where terramycin ginseng usa cvs prices ciplox tz price himcolin for dogs buy prescription mobic 100 mg ordering accutane on line buyers of cialis jelly canada discount nolvadex cheap speman india mail order generic decadron brand viagra in the uk now buy accutane online pharmacy cytoxan in canada atorvastatin cost india alli orlistat 60mg 170 ca'psulas glaxosmithkline cardizem cd generic available rxlist valtrex how to get baby to take augmentin what will be the cost of generic lipitor buy voveran online no prescription us how to buy viagra soft online purchase generic prednisone quem usa citalopram isoptin cost cheap doxycycline free shipping mestinon usa most reliable place to buy tinidazole online mail order atarax zyrtec 20 mg side effects what is zocor pills used for buy generic cafergot online no prescription brahmi online usa no prescription generic pills for vantin what is meclizine hcl for non prescription olanzapine pharmacy terramycin suppositories buy levofloxacin side effects nausea colospa shipping overseas uk buy flagyl without prescription ditropan pills buy online lasix furosemide mechanism of action cialis 2.5 mg can i get aciclovir pastillas naturales para prolongar la ereccion cost of albenza online pharmacy no prescription needed tramadol uses valacyclovir hcl 1 orlistat generic philippines what is zyrtec used for in children acheter pas cher benadryl micardis prix en pharmacie en france half inderal 80 mg anxiety etodolac tablets us online cefixime ofloxacin medline india carafate uses in dogs where to buy aspirin ointment can order cefadroxil online buy dipyridamole online no prescription united states side effects of motilium 10 best price isoniazid how to by floxin online where to buy propranolol in uk how to import brand advair diskus alli without script trimix gel imitrex phone orders atrovent in croatia isoniazid.com where to lynoral doxycycline gen rx lasuna online legally dipyridamole maximum dose famvir order in the us 5mg generic propecia avapro delivery 15 off drugstore.com buy fucidin in uk tadalafil tablets 5mg canada viramune australia price purchase revia online pyridium generic brand prednisone from atrovent online in us what is another drug like wellbutrin sumycin price india where to buy glucotrol xl ointment albenza online overnight shipping canadian pharmacy zyvox buy lithium ion batteries sony how long does it take to get crestor out of your system pastillas redustat para bajar de peso mexican voltaren voltaren medication dosage cephalexin without a prescription from us cialis 30 day free sample periactin paypal elavil side effects wikipedia discount canadian pharmacy cordarone generic pills for augmentin us pharmacies online that sell lozol buy minipress boots pharmacy animas insulin pump styplon without script generic name ventolin hfa hyaluronic acid non perscription countries pill rx health acivir products brand viagra jelly buy where to buy lipitor online usa pariet dosage too high buy geriforte online abana himalaya products what does cytotec treat lov cost dapoxetine ashwagandha online coupon code hydrochlorothiazide no prescription fedex ups suppliers of dipyridamole in us buy phenergan quick flovent from usa cheapest place buy seroquel research grade advair diskus meclizine order on web online pharmacy uk leukeran what stds does keflex treat uk version of dramamine baclofen tablets ip pharmacy technician certification online test beta blockers propranolol weight gain lisinopril no prescription compare prices where to buy cheap generic dramamine atrovent phone orders levaquin cheap uk buy coumadin online cheap price increase methotrexate online sale of albenza harga viagra usa original glimepiride side effects muscle pain now foods hoodia review eulexin maximum dosage acticin dosage what does minipress treat buy canada no prescription for micardis price increase finpecia viagra cialis same time can i make chloramphenicol side effects of benzaclin topical gel viagra cheap pills viagra sublingual sublingual dosage pravachol vs lipitor vipps hyperlink seal lasix drug test 100 pure organic acai berry antioxidant facial cream review nexium drug information xenical price in dubai where can i buy strattera tablets where can i buy lisinopril tablets medrol injection dosage where could i buy amoxil without prescription how many mg of clomid to take for pct order seroquel pills viagra where to buy in canada atacand drug canadian pharmacy buy alesse online no prescription pill what is the dosage for fluoxetine half price celebrex amoxil generic equivalent what is the dosage for claritin for dogs parlodel without insurance motilium suspension para que sirve buy canada no prescription for erythromycin how long does it take for remeron to kick in 100 mg female viagra what does cozaar 50 mg look like best online pharmacy review canada order topamax 200 mg tadalafil us fastest xalatan uk delivery buy tamoxifen tablets canada acquistare chloroquine in italia cheap canadian cordarone no prescription propecia finasteride same buy cheap aciclovir using pay pal colchicine prescription only probalan for men in usa purchase generic minocin zolpidem uk name order acivir pills online buy eurax 20 online pharmacy ranitidine long term side effects of tadapox ajanta pharma kamagra 100 mg actonel is there a generic lipitor available do you need rx adalat india compazine price what kind of high do you get from gabapentin proscar finasteride prostate buy etodolac 100 comprar epivir-hbv portugal best legal on line site to buy cialis xenical 120 gr where to buy viagra in mexico city where to buy ginseng ointment propecia paypal himcolin price what is bentyl 20 mg used for is there a generic for actos diabetes dilantin dosage phenergan in italia cipla web flash sales ordering apcalis sx discount low price metformin side effects flatulence what is coumadin therapy pariet now co uk benemid supplier in uk albuterol inhaler without prescription buy amaryllis bulbs asthma in children nhs generic kamagra effectiveness drug market order amaryl do you gain weight after stopping topamax what is zyloprim tablets epivir-hbv price india overseas pharmacy no prescription brand viagra pharmacies discount order abana generic malegra dxt in usa what is tadalafil for acquisto cialis con mastercard methotrexate sales (canada) gasex drug class tricor online store how much does sinequan cost how to get acticin buy nizoral 2 shampoo where cleocin on line withdrawal from skelaxin symptoms dove acquistare viagra online fexofenadine 180 mg cvs what does hoodia mint do entocort cr 3 mg budesonide generic depo provera birth control plavix tablets 40mg flagyl er from europe generic voveran sr usa pharmacy online pharmacy canada oxycodone uk version of torsemide sex drugs for women uk overnight pharmacy betnovate vigrande side effects generic ambien uk over the counter zantac syrup low cost amantadine online view topic order vasotec tablets nexium 40 mg 28 tablet fiyat? diflucan patient reviews indocin mg price amlodipine besylate side effects frequent urination accutane where to buy no prescriptions trazodone where to purchase ditropan medication where to buy acheter pas cher albendazole buy methotrexate greece what is terbutaline for cats order lasix from ranbaxy caverta strattera birth control online uk zoloft online canada semenax belgique pharmacie esomeprazole omeprazole differences what does apo-prednisone treat retin-a 0,05 brand positioning buy wellbutrin sr online without prescription effexor xr rxlist cordarone injection buy minocin online no prescription us viagra generic equivalent i n south africa cialis professional where can i buy where is the beach in the celebrex commercial erythromycin pharmacy order purchasing zetia online cheapest place to buy alphagan pregnancy nausea medication zofran aleve drug class drug market order wellbutrin sr lisinopril without a script waheed alli boyfriend order promethazine tablets all natural anti anxiety medication for dogs 100mg wellbutrin pills buy casodex inhaler canada how to order yagara online generic bupron sr paypal where can youtube buy aciclovir beconase aq for sale philippines no prescription lisinopril 20mg phone in order for pletal toradol online order tenormin discount code crestor rosuvastatin grapefruit singulair pills side effect valacyclovir hcl 500 mg side effects central nervous floxin otic vs ciprodex vente de nizoral au quebec how to buy indocin fluoxetine pharmacy coupons vpxl now co uk nymphomax cost without insurance is the canadian online pharmacy legit belize pharmacy jobs generic haridra no prescription silagra drugs zyvox without prescription pills can get acai berry over counter acheter viagra sans ordonnance paris what is the correct dosage of emsam how to get periactin drug lamisil from usa calis on line pharmacy sotalex 160 mg au maroc cheap no prescription buy lexapro why is there a shortage of tetracycline lisinopril overdose emedicine where to buy robaxin ointment indian pharmacy cardizem amitriptyline uk companies only levitra professional india no prescription differin cheap us pharmacy meclizine 100 tablets can you buy clomid online zoloft 40mg lexapro 10 mg for sale discount benicar mg best online pharmacy generic mobic augmentin 12h tabletas 875 mg augmentin 1g dosage for adults voltaren online usa no prescription himcocid non perscription countries costco leicester opening offers propecia costs per month generic price advair diskus online cialis price per pill how much is generic plavix going to cost is generic v-gel effective evecare prices cvs google shopping finasteride erythromycin from penicillin allegra printing salem costco pharmacy caverta price xalatan missed dose will prednisone 20 mg get you high can you order brand advair diskus sominex herbal tablets levitra no prescription approved cialis rocaltrol weight gain russian pharmacy nj fair lawn mercury drugstore online hiring where can i buy prednisone in canada how often can you get a decadron injection bula do medicamento sertralina 50 mg best place buy ponstel pct where abana business healthy blood pressure 30 year old male sertraline withdrawal symptoms duration craigslist manchester massage allopurinol rash frequency celebrex price costco famvir uses medication viagra online usa pharmacy buy anacin advanced side effects of seroquel 200 mg abana prices cvs lifestyle herald acai usa colospa for men sale in uk low buy coreg medication carvedilol mixing erythromycin and alcohol buy clozaril 5 tofranil lowest price where to buy aspirin with codeine where to levitra professional where to buy cheap generic calan cabergoline dostinex buy assistir filmes online a cabana propecia side effects statistics bactroban to buy no perscription meds online authorized generic for synthroid cephalexin left out overnight crestor medication dosage bactroban nasal ointment uses herbal tea suppliers south africa best site get diabecon zanaflex online meds what does speman brand amoxil pharmacy opening pharmacy costa rica free januvia medication topamax coupons 2012 amoxil shelf life order lamisil online no prescription with a mastercard ciplox max dose cleocin discount voucher capoten order on web cost of wellbutrin xl brand buy trileptal no prescription buy grifulvin v pills buy aciclovir uk tablets online over the coutner drug similar to hydrochlorathiazide mircette birth control cost canadian online pharmacy for kytril cholestoplex online in us where can i get viagra online yahoo buying rumalaya gel from canada no prescription cost viagra 100mg tesco where to buy innopran alesse medication order tesco pharmacy summer placement 2013 cystone online forum valtrex generic pill order lotensin overnight generic pills for revatio celexa lowest price florinef tablets dogs canadian buy glucotrol xl prescriptions buy korean red ginseng canada disgrasil precio espan~a buying cialis online yahoo answers 40 mg cialis online dilantin and diet pills buy cordarone 100 valtrex dosage for cold sores during pregnancy list of tesco stores selling zyvox where to buy levothyroxine online in uk drug no script clomid mg terbutaline tocolytic mechanism of action tulasi tablets uses best price for kamagra cipro and alcohol interaction cheapest place get claritin d where in england there bayer levitra can you get cialis soft over the counter no prescription robaxin buy diabecon australia aripiprazole abilify uk haldol 1 mg tabletten regaine foam vs rogaine foam where to buy diovan with amex allegra 180 mg twice daily penegra lawsuit get free cialis pills how to order provera online aspirin dosage for adults provera online what is biaxin used for generic anafranil us levitra drug store precose australia pharmacy nombre generico de zovirax what to look for when buying hoodia prescription crestor pilex kapsule cijena overseas pharmacy no prescription proventil diltiazem drugs online purchases ventolin australia atarax cheap price where to buy online drugs in the italy russian drugs online original kytril online 1000 mg panax ginseng purchase lamisil cheap terbinafine prescription diclofenac injection rxlist differin uk buy buy mifepristone in ireland meds without prescription canada indian allegra lyrics let;s erectalis tablets the weekender generic cialis cleocin gel overnight delivery elocon uk buy order glyset cheap medicine like accutane voltaren 100 sr cena how long to take cipro for gonorrhea rumalaya forte shortage buy aleve bulk feldene 40mg prec,o buy minocycline 200 acai australia price purim in spain buy fucidin 20 micardis 40 mg tabletta buy prevacid from india alli simpson style tumblr buy lopressor visa erectile dysfunction drugs canada buy cialis viagra levitra cialis viagra comparison no prescription aygestin eurax lotion directions free coupon for metoclopramide clonidine usa cvs prices canada meds without prescription thailand pharmacy drugs fincar no prescription canada buy floxin coumadin mail order cozaar canadian source generic propranolol india alphagan dosage instructions buy pariet pills in the canada canada zoloft tablets online voltaren medication amaryl without cheapest fedex genuine lasuna best price advair diskus 250 50 price best place to buy leukeran toprol xl side effects weight gain canadian viagra enterprise brand cialis tablets price canadian health&care mall vantin uses medication ivermectin for horses lice after sex pill in india buy nootropil 40 what symptoms does prednisone treat evista visa herbal viagra women pleasure plus discount lipitor can you buy erexor in ireland where imitrex order cialis jelly canada how to take cipro 500 buy suprax visa much does propecia cost canada best buspar prices tinidazole echeck buy chloramphenicol cheap ou acheter alli en france buy proscar 15mg online can i order deltasone no prescription in the usa canadian pharmacy prinivil overnight prevacid tadacip online pharmacy shipped to canada keftab on line no script prevacid cheap us pharmacy cost of betnovate wellbutrin xl without rx cipro prescription only beta blockers online pharmacy sample pharmacy mexico sarafem oxytrol with paypal payment minocycline order online quotes about being content thuoc colchicine tablets bp coreg price india best generic viagra plus review nitroglycerin online pharmacy buy cialis no prescription paypal where do i viagra in mexico cialis how to get ordering zanaflex on line cheapest place to buy eldepryl prednisone prednisolone compare acheter du cialis en ligne forum cheapest keppra tablets uk propranolol tablets used sale dosage himcolin online prednisone interaction with other drugs plavix discount price canadian online pharmacy for avalide
Monday, December 22, 2014
   
Text Size

Search our Site or Google

Bullion Confiscation: Paranoia, or Justified Fear?

Articles & Blogs - Silver Commentary

User Rating: / 58
PoorBest 

A question which I am regularly asked by readers (especially U.S. readers) is whether I believe that government(s) would once again confiscate the gold held by individuals. The question is a reasonable one, given the U.S.’s prior history of “gold confiscation” during a time of deep economic strife.

Executive Order 6102”, issued by the Roosevelt administration on April 5, 1933 commanded U.S. citizens to turn over all of their bullion holdings, with a few limited exceptions. The official exchange rate for all gold confiscated was $20.67 US, which was the official, fixed price for gold at that time.


There are many observations to be made about this event, and once examined it should be more obvious to people to what extent that threat exists today. To begin with, we must look to the purpose behind that Executive Order. Here, what we see is that there was more than economic strife which motivated this action.

By that time, Hitler had already risen in Germany, and the severely flawed Treaty of Versailles (which resulted from the Armistice of World War I) was increasingly seen as a driver of new hostilities in Europe, rather than the basis for a lasting peace. With the prospects for major, European war once again rising, it was imperative to the U.S. government that it have sufficient financial reserves to engage in its own military build-up.

Here, we must remember that the global monetary system was firmly tied to a gold standard at that time. Thus the only way in which the U.S. government could rapidly increase its money supply to finance its military without shattering the gold standard (as Nixon did in 1970) was to find a way to significantly (and quickly) increase its gold reserves.

Confiscating the gold of its own citizens was clearly the easiest way to accomplish this. A very nice article on this period by Bullion Vault points out another interesting aspect to this episode. Immediately after confiscation, the U.S. government “revalued” gold against the dollar (i.e. it devalued the dollar) to $35/ounce – netting the U.S. government an immediate 50% profit on the gold it had taken from its citizens. But that was literally only half the plan.

Despite the fact that the U.S. had changed its own gold exchange rate versus the dollar, the U.S.’s European allies did not change their own exchange rate between gold and the dollar – producing one of the largest arbitrage events in market history. Traders could buy gold in Europe at $20.67/ounce and then immediately sell that gold to the U.S. government at $35/ounce.

This did more than merely make a lot of European gold traders very rich. It directly and obviously resulted in a vast amount of total, global bullion stockpiles flowing into the U.S. – as the arbitrage opportunity functioned like a “vacuum cleaner” for the global gold supply.

While we can question the course of action for our warmonger governments during this tragic era of Western history, there can be no doubt that the action of the Roosevelt government in confiscating the gold of its citizens  was based upon bona fide economic, military, and political considerations. It is equally obvious that no such motivations exist today.

Certainly the U.S. is experiencing severe economic problems, indeed its economy is hopelessly insolvent – with the key word here being “hopeless”. Some readers have feared that gold confiscation would be seen by the U.S. government as a means to “stop the bleeding” of the U.S. economy. Such fears are misguided.

With the U.S. federal government having $14 trillion in current debt, plus another $70 trillion in “unfunded liabilities” (which now must be funded), the $100’s of billions it could net by making another clean-sweep of its domestic gold holdings are totally irrelevant in economic terms. Thus, if the U.S. government were still to engage in gold confiscation, it would be nothing less than a blatant act of theft by the U.S. government.

Even here, however, motivation is entirely lacking. For those worried about the U.S. government engaging in blatant stealing from its citizens (apart from the money-printing Ponzi-schemes of its bankers), the assets they should be worrying about are the $trillions in paper assets, conveniently located in accounts (operated by bankers) which could be confiscated in a instant merely by pointing-and-clicking. Indeed, there have been a rash of stories (all within recent weeks) of governments all over the world confiscating (paper) pension assets.

In contrast, gold confiscation is a ridiculously cumbersome exercise, where the costs to administer the scheme almost outweigh any benefits by themselves. As a final footnote on this issue, Wikipedia debunked a popular internet myth concerning U.S. gold confiscation in the 1930’s: that safety deposit boxes were “seized and searched for gold” as part of that Executive Order.

In fact, Wikipedia observed that such a directive never existed, and that private safety deposit boxes were never subjected to any searches based upon this administrative action. The only way in which someone could have their gold seized from their safety deposit box was if the government had a lawful reason to search the box – connected with a separate/different criminal violation.

This reinforces what I have said repeatedly to bullion-holders regarding the issue of “storage”. A safety deposit box is in the “custody” of the bank, but (legally) the contents of those boxes always remain in our own “custody”. This is wholly different from either allocated or unallocated bullion accounts where the bullion itself is always legally in the “custody” of the bank administering the account. Thus, if “gold confiscation” were to take place in the U.S. (or anywhere else), any/every ounce contained in these accounts would immediately be seized, while those with bullion in safety deposit boxes would not necessarily be affected.

For reasons listed above, however, I now view the issue of “gold confiscation” as a moot point. What surprises me, and what I intend to address in the balance of this commentary is that the issue of silver confiscation does not seem to have even been raised by any other commentator, let alone examined in a serious manner.

In many of my own commentaries, I have gone into detail on the numerous (and ever-increasing) uses of silver in myriad industrial applications. Not only are many of these products of great importance to both consumer and commercial markets, but because of silver’s superb (and unique) chemical/metallurgical properties, in many of these applications there are either only inferior “substitutes” available, or no substitutes at all.

Compounding the importance of silver in our modern economy is the fact that (as has frequently been reported) both global inventories and stockpiles of silver are nearly totally exhausted. Thus, we have in the silver market something which is entirely absent in the gold market: a legitimate motive for confiscating silver.

Undoubtedly, silver-holders would be furious should the U.S. government (or any other) seek to engage in silver confiscation (almost certainly at only a fraction of silver’s real “fair market value”). There may even be riots in the streets. But unrest would be short-lived, because with a plausible (and even somewhat reasonable) pretext for confiscation, public opposition would quickly wane.

In this respect, we must look at the now-famous internet “campaign” by Max Keiser and friends/allies to “take down JP Morgan” as a two-edged sword. I would (will) undoubtedly be one of those cheering the loudest on the day that this odious Oligarch is forced into bankruptcy. However, a blatant and direct “threat” to bring down arguably the single most-important financial institution in the entire U.S. economy may be viewed by the U.S. government as both “an economic threat” and as a “threat to national security”.

We need only look to Afghanistan and Iraq for examples of the extremes to which the U.S. government will go under the pretext of “national security”. Compared to its global military rampage, confiscating any/all of the silver it could lay it hands on would be nothing more than a minor “footnote” to current events.

In this respect, Bullion Bulls Canada has not joined the growing internet clamor to “take down JP Morgan”. We will certainly monitor this important grassroots movement, but our own policy is not to engage in active promotion of this campaign. To those parties who are actively crusading on this issue, I would hope that they would take the time to seriously evaluate the consequences of their actions.

Taking down” one of the most notorious banking oligarchies in the history of humanity may (is?) a noble goal. However, as individuals laughingly parrot the phrase “let’s take down JP Morgan”, it’s important that people realize that this is not some “internet browser game” but real life, with real consequences.

Despite being an ardent silver-bull myself, I always caution readers to maintain “balance” in their bullion holdings. Indeed, I have devoted a previous commentary to a conservative (but simple) strategy for investors to use in allocating their dollars between gold and silver.

The reason why I have warned investors not to go “all in” in silver is because it was always possible to envision scenarios where silver’s seemingly much brighter future may not play-out as silver investors currently envision. Sadly, current circumstances have now created such a plausible scenario where it is silver confiscation, not “gold confiscation” which should be an issue pondered by all precious metals investors.

Trackback(0)
Comments (68)Add Comment
 1 2 3 > 
JBoss
...
written by JBoss, March 01, 2011
Thanks jeff.
I made the move out of etfs and accounts and such...glad i did!! now its jst a matter of where to keep the actual stuff. Thanks for the suggestions and expertise!
bobbbny
...
written by bobbbny, March 01, 2011
Sczech, you could also buy gold in Reichsmarks in Germany in the 20's. It was just a question of price. Those who held the paper ultimately lost all. This is not a relative game in the end, it is absolute. You either have purchasing power or you don't. Gold was sold in Zimbabwe dollars as well.
The difference between the post Nixon era and today is the absolute level of debt relative to any measure: GDP, personal savings, wages in real terms, you name it.
The dollar today is several standard deviations away from where it would be priced if only one of a number of events were to happen. A move to a basket of currencies for oil purchase, a refusal of the Chinese to buy any more of our debt, a prolonged period of 20% unemployment (the REAL number), or the release of the tidal wave of mortgage foreclosures currently being ignored.
Only the printing of more paper can temporarily forestall a couple of these events; the unemployment & the foreclosures.
A move away from the dollar for oil would be a disaster for our economy.
The removal of the Chinese buyers would be fatal.
A collapse of the Saudi monarchy could be fatal as well, but I won't even go there.
The warning bells are ringing!
Exchange your paper for tangible goods while you still can.
The average US supermarket will be cleaned out in 7 minutes.
Jeff Nielson
...
written by Jeff Nielson, March 01, 2011
Yes Jboss, you must have PERSONAL CUSTODY of your bullion - no "funds", no "accounts".

For Canadians, we still have some time to make such arrangements. U.S. residents have no such luxury. Their "safety" deposit boxes are no longer "safe". "Confiscation" could occur in a matter of WEEKS from now.

In the U.S. "personal custody" basically means a home safe or secure "hiding place".

In Canada, which does not (yet) have a "Patriot Act", safety deposit boxes STILL remain a legitimate means for Canadians to have CUSTODY of their own bullion. And funds such as the Sprott "Trusts" and CEF remain safe (at the moment) since THEY store their bullion in Canada.

Note that if the risk of "confiscation" rises in Canada too (a likely prospect) that we Canadians may also have to quickly adjust.
JBoss
...
written by JBoss, March 01, 2011
Ok Jeff, thanks. I understand what you mean by balance/diversification, but as far as preparing/protecting the amount of investment I already have in bullion, do you, or anyone else, have any suggestions? Thanks.
Jeff Nielson
...
written by Jeff Nielson, March 01, 2011
Sczech, I already addressed that argument:

Five hundred years ago, you could purchase a FORTUNE in goods with a few tulips. A few days later they were "worthless".

Obviously the "irrational behavior" was not the price of tulips going to zero, it was people TREATING tulips like a valuable asset when they were obviously worthless.

This is a simplistic argument which has no logical validity.

Jboss, if we're creating a little "fear" here regarding the risk of bullion confiscation, that is a GOOD thing.

There is nothing WORSE for an investor than "unbridled confidence". It is the SECOND biggest cause of "bad decisions" - behind only EXCESSIVE fear.

What I want to do is to help people achieve "balance": balancing risk with reward, diversifying one's investments in a prudent manner, etc.

If you ARE "balanced", and you ARE aware of the REAL risks which exists, then you should not have to worry about excessive fear - since PREPARING for these possible risks beforehand will MINIMIZE the potential adverse consequences.
JBoss
...
written by JBoss, March 01, 2011
woof. it seems as if the general consensus is... silver is the safest dangerous investment of all time haha is that the conclusion? that its great but might be too great? should i put it all in a DasSafe austrian safe? i mean its certainly better than money at this point for reasons we've beaten to death but... not if we can't spend it on anything in the open market bc of the government...
could we then just put it in our attic for 20 years until it was legal to use again or something??? geez i was finally feeling smart for making a killing off of an investment and now it seems as if in the end its going to be completely fruitless lol o well... money isnt everything
sczech
...
written by sczech, March 01, 2011
Jeff,

I am glad to see that my comments have given rise to such a strong reaction. Let me add one more comment on the "worthlessness" of the US Dollar. The notion of the worthless Dollar (as you may know) is not new. In fact, it started with the closure of the gold window by Nixon in 1971 and reached a temporary peak around 1980 when gold and silver peaked for the last time. It got a little bit quiet during the 1990's, but the talk about the worthless Dollar never really disappeared. Nothing new here.

There is no question on my mind that the Dollar like every other fiat currency will disappear one day. However, it has not disappeared yet and it is definitely not worthless today. Those who claim the opposite face a logical problem: How can the worthless Dollar buy gold - the ultimate currency? Isn't that a contradiction of terms? Are those dealers who sell gold coins for worthless Dollars really that stupid? Somebody should tell them that the Dollar (and all the other fiat currencies) are completely worthless. Maybe, these dealers will also accept worthless Zimbabwe dollars as payment for gold?
Jeff Nielson
...
written by Jeff Nielson, February 28, 2011
Bobbbny, one of the reasons for the "sudden uptick" in comments is that there has been very LITTLE "dissent of opinion" regarding my commentaries recently, so in that respect this is a healthy sign (not to mention "good for business" - lol).

It's been a little bit of "piling on" here (sorry Sczech), but this obviously illustrates the vehemence we have regarding certain "hot button" issues: the USD, confiscation, and anything/everything to do with the ruling cabal of bankers (lol).

As long as things remain respectful, then there is plenty of "room" for debate on these issues!

bobbbny
...
written by bobbbny, February 28, 2011
Jeff; I haven't been on for a few days & I'm amazed at the response this post is getting.
A faulty post gets more attention than a pretty girl in a mens prison.
The rapidly unraveling truth is that nearly ALL the worlds developed economies are bankrupt, and are desperately trying to keep the paper Ponzi scheme afloat.
Did you hear that even today Ireland is asking for more generous terms on its ECB bailout? The one they just got!
This is post Versailles Europe all over again.
The massive debts will only lead to the same result, default.
Call it rescheduling, restructuring, partial forgiveness, interest moritorium, or anything you like, it is post WW1 Europe all over again & it will have the same result.
Only this time it is truly global.
Most US states are effectively bankrupt.
The Federal government is effectively bankrupt.
Only the sheeples belief in paper money is forestalling collapse.
They will not believe forever.
When you realize that the Emperor has no clothes & that you have gotten screwed out of every promise from your pension to your 401K, then you will get angry.
As every despot in the Middle East, and soon other parts of the world realize what happens when the people wake up, so it will be for the banksters when their fraud is revealed.
Everyone here should be thankful for their insight & preparations.
You are the new illuminati.
Jeff Nielson
...
written by Jeff Nielson, February 28, 2011
Bobbbny, to add to your comment, obviously the circumstances our governments are in is MUCH, MUCH, MUCH more desperate than at the time that the traitor Roosevelt confiscated Americans gold and silver.

THIS is a big part of the reason why the propaganda-machine ONLY pumps GLD and SLV (and funds and "accounts" generally) while doing everything possible to make HOLDING OUR OWN BULLION seem unattractive/inconvenient.

WHEN the U.S. government confiscates bullion a SECOND time, they merely have to click their "mouse" and EVERY "ounce" of bullion which (actually) exists in those funds is GONE...AND every "bullion account" in the U.S.

The good news for those of us who AVOID these fraud-funds is that with OTHERS choosing to sacrifice their own bullion, this makes it less likely the government will start 'rifling' OUR safety deposit boxes and busting down doors - although I wouldn't want to rely upon a U.S. safety deposit box under any circumstances now.
bobbbny
...
written by bobbbny, February 28, 2011
A few observations.
Yes, there are St. Gaudens & other gold coins for sale. Heres one reason why, from wikipdedia.

Executive Order 6102 required U.S. citizens to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 per troy ounce. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of the order was punishable by fine up to $10,000 ($167,700 if adjusted for inflation as of 2010) or up to ten years in prison, or both. Most citizens who owned large amounts of gold had it transferred to countries such as Switzerland.[citation needed]

Order 6102 specifically exempted "customary use in industry, profession or art"—a provision that covered artists, jewelers, dentists, and sign makers among others. The order further permitted any person to own up to $100 in gold coins ($1,677 if adjusted for inflation as of 2010; a face value equivalent to 5 troy ounces (160 g) of Gold valued at about $6200 as of 2010). The same paragraph also exempted "gold coins having recognized special value to collectors of rare and unusual coins." This protected gold coin collections from legal seizure and likely melting.

The price of gold from the Treasury for international transactions was thereafter raised to $35 an ounce ($587 in 2010 dollars). The resulting profit that the government realized funded the Exchange Stabilization Fund established by the Gold Reserve Act in 1934.

The regulations prescribed within Executive Order 6102 were modified by Executive Order 6111 of April 20, 1933, both of which were ultimately revoked and superseded by Executive Orders 6260 and 6261 of August 28 and 29, 1933, respectively.[2]

Add to this the people who kept more than $100, or didn't turn them in at all.
To argue that this is not confiscation is absurd.
It is outright theft!
That $100 today, even if compounded at the average rate for savings accounts of say 3%, would double every 24 years. Thus, by 2005 it would be $800. Lets round up & call it $1000 in 2011 money.
The five ounces of gold is worth $7000.
Which one is better Johnny?
Going forward it will only get worse for holders of Bernanke bucks.

As for a $10 bag of groceries, what planet did that come from?
I can't get 3 gallons of gas for $10.
I CAN, however get 3 gallons of gas for 50 cents worth of silver coin.
50 cents X twenty two times face value (todays market) equals $11, the price of the 3 gallons.

The confiscation was the foundation of the bankster paper money Ponzi scheme that is now unraveling faster than a cheap sweater.
paxjds
...
written by paxjds, February 28, 2011
If I recall, the dollar is now only worth about 2% of what is was worth when the Federal Reserve Bank was formed in 1913. Gold is up 7,000 % since then, $20 an OZ then and $1400 now. Clearly Gold is real money, and paper bankster money is Almost worthless. Sorry Jeff, 98% correct is still an A+ by most standards.
The government did more than tell citizens to turn in their gold in 1933. The governmant gave a big incentive with $ fines and imprisinment if you did not turn in your gold. Freedom really went down the drain with Comrade Roosevelt running things with the New Deal.
Most of the Gold was turned in, as thats how the Gov got 10,000 Tons to store in Fort Knox. Someone mentioned St.Gaudens coins that are sold on the internet. PCGS publishes the year, condition, mint, quantity known on planet earth, and approximate current price of these coins that slipped through Roosevelts crooked fingers. Prices per 1 OZ St Gaudens pre 1933 gold coins typically run from $2,000 to over $600,000 per 1 OZ coin. So much for loose comments about the abundant supply.
So an OZ of Gold is now worth $1400. The twenty(20) $1 Paper dollars equivalant are now worth $.40. Lets see, $1400 divided by $.40 times 100 % is equal to a differential percentage increase in gold of 350,000% versus the dollar since 1913. I think its past time to confiscate dollars and replace the pxss poor stewardship of the Federal Reserve Bank an other Central Banksters with commodity based currencies around the world. Who in the hell do banksters think they are kidding? Peasants in China are buying and saving gold; not dollars, yens, or Euro's.
0
...
written by subscriber, February 28, 2011
Sorry szech, that is absolutely not true. The US Mint was established by the Constitution simply to take privately owned gold and silver, mint them into a common form, and return them to the owners.
Coinage Act of 1792 Section 14.
And be it further enacted, that it shall be lawful for any person or persons to bring to the said mint gold and silver bullion in order to their being coined; and that the bullion so brought shall be there assayed and coined as speedily as may be after the receipt thereof, and free of expense to the person or persons by whom the same shall have been brought. And as soon as the said bullion shall have been coined, the person or persons by whom the same shall have been delivered, shall upon demand receive in lieu thereof coins of the same species of bullion which shall have been so delivered, weight for weight, of the pure gold or pure silver therein contained:

The government could also buy metal itself, mint it, and spend it into circulation. You can read the Constitution, you can read the 1792 act, you can read Edwin Vieira's two-volume work on the monetary history of the USA, Pieces of Eight, and you will never find anything like what you state.

IF, that were the case, why would the USG even need to promulgate an act of confiscation in 1934? They did so exactly because the gold was not theirs and they needed color of law to assert ownership and keep it .
Jeff Nielson
...
written by Jeff Nielson, February 28, 2011
Sorry Sczech, but now you're just 'making stuff up'.

The trouble with that interpretation is that currency is not owned by the people holding it. THe currency is legal property of the government minting it and brought into circulation in order to promote economic exchange. People holding currency do not own it. The currency in their possession is only on a temporary loan from the government at best. To use currency for other purposes than money is illegal. That is the reason why melting coins is an illegal activity.


The government's "ownership" of "legal tender currency" is RESTRICTED to their self-asserted claim that we are not allowed to DESTROY IT. If we owned a herd of cows, and the government suddenly declared cows "an endangered species", we could (legally) be prevented from KILLING the cows, but this in no way negates our OWNERSHIP of the cows.

As for your point that our banker-paper is (now) just (worthless) "IOU's", we are in entire agreement on that point - as it is a central theme in my writing as to WHY these currencies are worthless.

The "value" of any IOU from an insolvent deadbeat is ZERO.

Conversely, the REASON why governments don't want to let "the little people" hold bullion is because bullion is NEVER anyone else's "IOU". Thus they can NEVER bankrupt bullion-holders with their own, bad debts - unlike with their paper currencies, where EVERYONE "goes down with the ship".

So in lumping "good money" together with banker-paper, you are unequivocally WRONG.
sczech
...
written by sczech, February 28, 2011
The trouble with that interpretation is that currency is not owned by the people holding it. THe currency is legal property of the government minting it and brought into circulation in order to promote economic exchange. People holding currency do not own it. The currency in their possession is only on a temporary loan from the government at best. To use currency for other purposes than money is illegal. That is the reason why melting coins is an illegal activity.

Back to Roosevelt. The gold coins he recalled were strictly speaking not the property of the people. It was property of the government.

Disclaimer: I am not against gold. To the contrary. I am of the opinion that we need to protect our savings by keeping part of it in precious metals. However, the desire to own precious metals should not tempt us into bending the truth. If we do that, we are not much better than banksters and other crooks. In addition, many people coming to this site wish to learn the truth. For that reason, everybody posting here has the ethical obligation to stick to the truth rather than convenient fairy tales.
0
...
written by subscriber, February 28, 2011
Here's how it works:

subscriber (S): Jeff, this is an emergency - you MUST let me hold your gold coin.
Jeff (J): Well, OK, I guess if it really is an emergency...
S: Don't worry Jeff, you can have it back later. Here's my IOU.
J: OK, thanks.
S: (Later) Jeff, about that gold coin of yours - well, it belongs to me now.
J: What about this IOU?
S: Oh, due to the emergency, that IOU has been devalued, so now it's only worth 59% of what it used to be worth.
J: WTF??!!
S: Don't worry, Jeff - you still have ONE IOU, just like you had before. It's for the good of, ummmm ... The Country!
Jeff Nielson
...
written by Jeff Nielson, February 28, 2011
Nyfiken, good observations!

Yes, simply trying to TAKE bullion (with ZERO compensation) would INCITE REVOLT.

To your list of means the government can use to bully people away from holding and USING precious metals as "money" we can add the MOST IMPORTANT element: the DELIBERATE "destruction" of global silver stockpiles, through first grossly under-pricing silver, and second MAKING SURE that only a tiny amount was/is recycled.

DESTROYING the world's silver supply is even BETTER than confiscation - since what is confiscated can (and would) eventually come back into circulation. Meanwhile, recycling silver from landfills is likely at least a generation away...
Jeff Nielson
...
written by Jeff Nielson, February 28, 2011
Szech, regarding your dictionary definition of "confiscation", what is IMPLIED by that definition is that it would be FAIR COMPENSATION for what was seized.

As Subscriber pointed out (and history CONFIRMS) the "plan" all along was to give the CHUMPS only HALF what their gold was worth - and then, AFTER they had been tricked into surrendering their gold, their PAPER was IMMEDIATELY devalued.

Suggesting that this partial-theft represents FAIR, LEGITIMATE "compensation" is an exercise in semantics, which clearly perverts the dictionary definition which you cited.
Jeff Nielson
...
written by Jeff Nielson, February 28, 2011
Subscriber, thanks for the additional historic context. All of this material (and much, much more) is available on a link originally posted on the forum:

http://cowles.econ.yale.edu/P/cm/m04/index.htm

As for your comment about the USD not being worthless, 500 years ago TULIPS were worth a fortune to the Dutch - and then in a FEW DAYS they became worthless. Attempting to demonstrate "absolute value" via the behavior of ignorant sheep is a futile endeavour.

I just wrote a commentary explaining (via SEVERAL metrics - all based upon fundamentals) WHY the USD is already worthless.

I suggest you read it:

"0% Interest Rate = Worthless Dollar"
http://www.bullionbullscanada.com/index.php?option=com_content&view=article&id=17307:0-interest-rate-worthless-dollar&catid=47:us-commentary&Itemid=132
Nyfiken
...
written by Nyfiken, February 28, 2011
The best way to defeat an advisary is to take away his weapon(s) to make him vulnerable. In the case of precious metals, the crooks (gubmint, banksters) need for the public to continue using their fiat currencies. When the citizens turn to real money (precious metals) in order to preserve their wealth, it becomes neccessary for the crooks to stop the practice or trend. It is likely that the people would revolt if their precious metals were taken from them. Therefore, TPTB will probably take another route; they will either tax it to death or they will make it illegal to trade precious metals, or BOTH. Therefore, you can keep it (if you can afford the taxes) but you can't use it for trading. The crooks won't have to take precious metals from the citizens...many citizens will give it up willingly in the event that either scenario is implemented. To wit, Vietnam has already hit upon this idea and is in the first stage of this process of 'confiscation by stealth':
http://www.gata.org/node/9649
0
...
written by subscriber, February 28, 2011
szech, Confiscate - seize by legal authority for the public treasury

As detailed in my post, the USG broke up the whole process of eliminating gold from our domestic monetary system into several steps spread out over nearly a year, so that where they were ultimately headed was disguised. The confiscation itself was broken up into two halves: 1) Collection of the gold and 2)Declaration the USG was henceforth the direct owner of the gold.

When the bullion was taken up there was no plain legal seizure. The citizens were required by law to exchange their gold for paper. The Secretary of the Treasury issued a statement at the time, containing the following:
"Those surrendering the gold of course receive an equivalent amount of other forms of currency and those other forms of currency may be used for obtaining gold in an equivalent amount when authorized for proper purposes." Having by such means got physical possession of the gold, it was a very simple matter for the government to confiscate it. All that it had to do was to have Congress pass a law vesting title in the government.

This gold had never belonged to the USG in any sense. They merely minted the coins and put them into circulation. They coins were the property of the holders. Paper currency was understood to be fully convertible into coin and fully equivalent to coin. But this state of affairs was exactly what the New Dealers wanted to end.

On January 30, 1934, the second half of the confiscation took place. Now that the USG had possession of the gold, they simply issued a written proclamation that the gold no longer belonged to it's previous owners, but to the USG.

As to your other statement, New Dealers certainly promoted the idea that they needed to take over the US economy to "save" us all from the depression:
The word emergency was then understood to mean what the dictionaries said it meant — namely, a sudden juncture of events demanding immediate action. It was supposed to refer only to the panic and the banking crisis, both temporary.

But what it meant to the president, as nobody then knew, was a very different thing. Writing a year later, in his book, On Our Way, he said,

Strictly speaking, the banking crisis lasted only one week…. But the full meaning of that word emergency related to far more than banks; it covered the whole economic and therefore the whole social structure of the country. It was an emergency that went to the roots of our agriculture, our commerce, our industry; it was an emergency that has existed for a whole generation in its underlying causes and for three-and-one-half years in its visible effects. It could be cured only by a complete reorganization and measured control of the economic structure. It called for a long series of new laws, new administrative agencies. It required separate measures affecting different subjects; but all of them component parts of a fairly definite broad plan.


Just as today, the USG is claiming to be "saving" us again, as they borrow and spend us into oblivion. There is no good reason to think, in either case, the the economy could not have recovered on its own, if only the normal rules of commerce were allowed to operate. But this would have meant great losses to those on top, and could not be allowed.
sczech
...
written by sczech, February 28, 2011
A quote from Wikipedia: "Confiscation, from the Latin confiscatio 'joining to the fiscus, i.e. transfer to the treasury' is a legal seizure without compensation by a government or other public authority."

Question: Is the above definition of the word "confiscation" not correct?

The so called "confiscation" of gold by Roosevelt needs to be put into perspective by the desperate situation of millions of workers and families in the depression of the 1930s who were innocently hit by the economic catastrophe following the stock market crash of 1929.

Monetary policy is always part of social policy. These two can not be separated.
0
...
written by subscriber, February 28, 2011
Roosevelt put out the above executive order calling in the gold on April 5, 1933. This was supposedly a temporary, emergency measure. Nothing was said about any further steps to be taken - just turn in your gold for paper. Certainly, many people just kept their gold. But the problem was not that squads of jack-booted thugs were going to come looking for it. It simply became illegal to spend that gold in commerce, or to sell it. The value of privately held gold was severely compromised. Admitting to the possession of gold carried the risk of being turned in.

Next, an Inflaton Amendment was attached to an Emergency Farm Relief Bill. This amendment gave the president unilateral power to devalue the dollar by up to 50%, but no formal devaluation took place at this time.

On June 5, 1933 Congress formally repudiated the gold redemption clause in all government obligations. Now that they had the gold in their hands, they were going to keep it.

For the remainder of 1933 the USG bought gold at seemingly random prices:
In the president's words the procedure was like this:

I am authorizing the Reconstruction Finance Corporation to buy newly mined gold in the United States at prices to be determined from time to time after consultation with the secretary of the treasury and the president. Whenever necessary to the end in view we shall also buy or sell gold in the world market. My aim in taking this step is to establish and maintain continuous control. This is a policy and not an expedient.

Each morning thereafter the Treasury announced the price the government would pay for gold in paper dollars, one day 30 paper dollars for one ounce of gold, the next day 32 dollars, two days later 34 dollars, and so on; and not only the newly mined gold in this country but anybody's gold anywhere in the world. Thus day by day the president and the Secretary of the Treasury determined the value of gold priced in American paper dollars, or the value of American paper dollars priced in gold, which was the same thing; and how they did it or by what rule, if any, nobody ever knew. - The Revolution Was


The result of this was that private lending practically dried up. People had been used to thinking of a dollar as equivalent to a certain amount of gold. With the dollar/gold price arbitrarily changing from day to day, nobody knew what the value of the dollar in which a loan would be repaid.

The USG intended this, and stepped into the breach, taking over the lending function (Reconstruction Finance Corp., etc.). Wall Street and private business were denounced for their unpatriotic unwillingness to lend, and the Hero USG was there to save the day (after having first created the problem they wanted to solve).

On January 30, 1934, the USG passed a law vesting title to all the gold they possessed in the USG itself. This was the act of confiscation, undertaken 10 months after the gold had been physically collected. It's worth repeating this this was not announced or hinted at the previous April when the order to turn in the gold was promulgated. At that time people expected to be able to get their gold back again after the emergency had passed.

The final step took place the very next day:
The ninth and last step was to devalue the dollar. In his message to Congress asking for the law that confiscated the gold, the president said, "I do not believe it desirable in the public interest that an exact value be now fixed." Nevertheless, on January 31, 1934, the day after the act of confiscation was passed, he did fix the exact value of the dollar at 59 per cent of its former gold content. The difference, which was 41 cents in every dollar of gold that had been confiscated, was counted as government profit and took the form of a free fund of two billions in the Treasury, called a stabilization fund, with which the president could do almost anything he liked. Actually it was used to take control of the foreign exchange market out of the hands of international finance.

Control of money, banking, and credit had passed to Washington.

QED. Your USG at work, 77 years ago.

JBoss
...
written by JBoss, February 28, 2011
Yes the double eagles are still available...i came across one recently and there are plenty on ebay... but does that mean the government never had those coins? or does it mean that they had them then they just got recirculated? obviously when the government confiscated the pre 1933 gold coins they didnt hold onto them forever...
and where do you shop where you can get alot of groceries for 10 dollars bc the rest of america would like to know haha
but seriously, thanks for your long answer to my question i like the insight
sczech
...
written by sczech, February 27, 2011
Jeff,

take a look at the number of pre 1933 gold coins offered for sale on ebay. Where do these coins come from if government forced the population to surrender the gold? There was apparently a huge number of people who ignored Roosevelt's call to surrender their gold coins. No other explanation is possible.

To claim that the US Dollar is worthless is a joke at best. I just bought a round trip air ticket to Europe from the US for $650. Are you saying that traveling a distance over 5000 miles in 8 hours has no economic value? Yesterday I bought more food for $10 than I could comfortably carry home in shopping bags. All worthless?
Jeff Nielson
...
written by Jeff Nielson, February 27, 2011
Sczeck, the mere fact that compensation was paid does not negate the fact that gold and silver were "confiscated" (i.e. the FORCED surrender of their bullion). Had no compensation been paid it would have simply been theft.

In FACT, it was more of a "bait and switch" as the ability of U.S. citizens to SWAP their paper for gold wasn't taken away until AFTER they surrendered their gold - or the government NEVER would have gotten it so easily.

As for the current era, the U.S. dollar is ALREADY worthless. The USSR's huge war-machine didn't stop their empire from collapsing, and the U.S. is MORE insolvent that the Soviet Union was.

The "fear of deflation" is nothing but bankster propaganda, since the ONLY people who need fear deflation are deadbeats, insolvent governments, and over-leveraged bankers. Otherwise deflation (as the Austrians knew all along) is the great CLEANSER of economies.

Bullion confiscation is likely coming again since all the bankers who run our economies know how to do is lose money - and steal it.
sczech
...
written by sczech, February 27, 2011
Roosevelt did not confiscate gold. What happened is that all gold coins were collected and exchanged for paper currency at the going rate of $20 per ounce. It is really unfair to call that a "confiscation". A confiscation would require that gold coins be taken without any compensation - that is not what happened.

One needs also to emphasize the fact that Roosevelt did not really have a choice. In order to devalue the Dollar, he had to remove gold from circulation. Those who claim that there was no need for a devaluation, live in a fantasy world. Deflation is a dangerous force, in many ways more dangerous than inflation. Once it sets in, currency devaluation is essentially the only choice left.

During the past 100 years we have seen many fiat currencies fail. In not a single case was a failing fiat currency replaced by a gold or silver standard. In all cases, a failing fiat currency was replaced by a new fiat currency. Why should it be any different in the future? If the Dollar fails, most likely a new fiat Dollar will be issued. In fact, it is pretty safe to claim that there will never be a return to a gold standard. The issues are fractional reserve banking and excessive lending. These issues have little to do with gold.

100 years ago, the Japanese Yen was on par with the US Dollar. After WWII, the Japanese devalued the Yen versus the US Dollar by 99.6% (1 Dollar = 360 Yen). Even such a drastic devaluation did not lead to a new Japanese currency. If the Dollar devalues by 90% in the future, why should the government issue a new currency? There is not need for that to happen in my opinion. Please note that after a devaluation by 99.9% a currrency is still not worthless.

During WWII, Nazi Germany has confiscated gold. There was a very simple reason why the Nazis had to do that: In order to buy essential resources from abroad, the had to pay in gold since their own currency was not accepted by foreign banks. In fact, the Nazis traded with the Swiss who demanded payment in gold.

If the US ever gets into a position where Dollars will not be accepted as payment for imports, then I could imagine the government forcing its citizens to give up their gold and silver holdings. However, in order for that to happen, the US military must lose it power first. As long as the power of the US military is respected in the world, the Dollar will be accepted as payment for imports. The war in Iraq was partly undertaken in order to punish a stupid dictator for thinking that he could refuse to accept Dollars as payment for oil exports.

Finally, regarding a possible silver scarcity in the future. Before a silver confiscation would be contemplated by the government, I think silver mines would be forced to sell their product to the government. That is what happened during WWII when all economic resources were directed towards the war effort. It could happen again. Regarding the alleged short position of JP Morgan, it is pretty obvious that JP Morgan will settle in cash in case it can not deliver silver. Rules on Comex have been changed in the past and they will be changed again in the future. A banking giant like JP Morgan will not go down because of a lack of fiat. That is the beauty of fiat: It can always be created on demand at zero cost. It all comes down to politics (and not to geological scarcity).

We still do not have any precise knowledge how much silver remains to be mined at silver prices of 30 or 100 Dollars. As long as this question is not properly answered, I would not worry too much about silver scarcity.
JBoss
...
written by JBoss, February 23, 2011
if the government KNEW who had silver in a safety deposit box...via tracking their internet record orders or whatever... does anyone think they would then go into the safety deposit box? considering it would save time ...
Jeff Nielson
...
written by Jeff Nielson, February 21, 2011
Thanks Subscriber, I'll fit some "reading time" into my schedule today.

After discovering (to my chagrin) that my understanding of "history" was VERY deficient regarding the silver market, I am feeling MORE than humble enough to go looking for further "enlightenment"!
0
...
written by subscriber, February 21, 2011
Very few have read Garet Garrett's great essay, "The Revolution Was" (http://mises.org/daily/2726, in which he gives the blow-by-blow account of just how the gold confiscation was pulled off. There was a lot more to it than most of us know. The entire essay would repay several readings, since it was written by a contemporary and explains the entire New Deal, but the gold confiscation discussion appears under the heading "Problem 2: To Seize Economic Power".
So, what the New Deal really intended to do, what it meant to do within the Constitution if possible, with the collaboration of Congress if Congress did not fail, but with war powers if necessary, was to reorganize and control the "whole economic and therefore the whole social structure of the country." And therein lay the meaning — the only consistent meaning — of a series of acts touching money, banking and credit which, debated as monetary policy, made no sense whatever.
"The Revolution Was"
 1 2 3 > 

Write comment
You must be logged in to post a comment. Please register if you do not have an account yet.

busy

Latest Commentary

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12

Latest Comments

Disclaimer:

BullionBullsCanada.com is not a registered investment advisor - Stock information is for educational purposes ONLY. Bullion Bulls Canada does not make "buy" or "sell" recommendations for any company. Rather, we seek to find and identify Canadian companies who we see as having good growth potential. It is up to individual investors to do their own "due diligence" or to consult with their financial advisor - to determine whether any particular company is a suitable investment for themselves.

Login Form