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RE: Wake up to the dangers of a deepening crisis

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RE: Wake up to the dangers of a deepening crisis
Topic: Business 5:51 pm EST, Nov 28, 2007

Dagmar wrote:
So, I'm already looking into transferring a significant amount of my assets into gold. Anyone got any suggestions/pointers?

Something to keep in mind.

Private Gold Ownership

People who scoff at the suggestion that the government might restrict private gold ownership should remember that many other countries have restrictions on (or absolute prohibitions against) private gold ownership. They should also remember that, in 1933, Franklin Delano Roosevelt dealt with a monetary and banking crisis by confiscating all privately owned gold; paying for the gold at $20.67 per ounce; immediately devaluing the dollar by 40 percent; and setting the price of gold at $35.00 per ounce. At a single stroke, Roosevelt increased the government's gold assets, stabilized the monetary system and increased wholesale prices by more than 33 percent. However, he also inflicted losses of 40 percent on gold owners and stripped them of the gold that they saved to insure their financial futures.

RE: Wake up to the dangers of a deepening crisis



 
 
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