Articles NewsFlow Gold & Silver Prices Market Briefing

Recevez notre Marketbriefing

In the same category
Now Let’s Get Rid Of The Income Tax Nathan Lewis The Current Account Deficit Nathan Lewis The Current Account Deficit #2: Savings and Investment Nathan Lewis The Current Account Deficit #3: Complete Nonsense Nathan Lewis

overtheedge
Member since May 2012
680 commentaries - 6 followers

6 followers

has posted a comment on the article :

Will China Confiscate its Citizen's Gold?

- Julian D. W. Phillips - Gold Forecaster

"The Chinese are a people who will obey and support their government's actions in the future. They have been well trained since the Cultural Revolution of 1965 to do so and can feel the benefits of doing so in their own country now."

Really? From my observation, the Chinese citizenry seem far more complex than a trained dog eager for a treat.
As a former officer, you seem to have forgotten rank has its privileges. The subordinates see this and skirt the regs if for no other reason than ritual. Would you claim the troops are not well trained?
Do you really think the Chinese will eagerly hand over their PMs? Do you really suppose the Chinese citizenry don't see the same stories of government corruption by certain members of the party that the people in the West?

Confiscation from the general public is never 100% successful. When government fails to instill confidence, confiscation only happens at the end of a rifle barrel. Lower the confidence level, reduce the success of confiscation and increase animosity.
There are sure a lot of pre-1933 US gold coins available for sale in the U.S. Do you really think they were all imported back into the US from overseas? As an example: Why would the Swiss hold US gold coin rather than Swiss gold coin in 1933? Or French, English, Mexican, etc. No doubt some gold coins were imported back, but all or most? Don't forget, you got to keep $100 worth of gold coin after the Roosevelt's confiscation.

The difference between fantasy and speculative fiction is credibility.

Why confiscate gold anyway? China is doing the logical thing by encouraging private ownership. Things did NOT get better in the US after the 1933 confiscation. Ya reckon the Chinese might have noticed that item in the written financial history of the US depression? Ya s'pose they might have noticed that prior to 1933, depressions were measured in months and not decades? The US didn't really come out of the depression until about 1955; 1929-1955 = 26 years.

Commented 4109 days ago

Send

Beginning of the headline :At one point we thought we were alone in believing that eventually we would see a confiscation of citizen's gold in one or more countries. Then we saw the confiscation of deposits in Cyprus in line with a "bail-in" policy. While this was a banking measure in line with the normal liquidation of a company, it was endorsed by most nations thereafter. The greatest impact was seen on investors worldwide who had never thought that such events would happen.Thereafter we saw several well-respected comme... Read More

Reply to this comment

You must be logged in to comment an article

8000 characters max.

	RSS feed		24hGold Mobile
	Gold Data Center		Gold & Silver Converter
	Gold coins on eBay		Silver coins on eBay
	Technical Analysis		Fundamental Analysis