Can americans own gold? - GoFuckYourself.com

goBigtime · 10-20-2003, 02:53 PM

Someone just walked in here saying they heard some doomsdayer on the old Art Bell show last night & the guy "Makes me want to buy gold"

I know in the 40's or something it was illegal for Americans to own gold other than for jewelry... but does that rule still apply to this date?

A friend of mine goes to switzerland once in awhile to visit his girlfriend out there & he's always telling me about their little bazooka joe bubble gum sticks of gold....

and how they are used "just like money" there

So can we own gold ingots like that? If not, what is/was the rule called that prevents us from it?

stocktrader23 · 10-20-2003, 02:54 PM

goBigtime · 10-20-2003, 02:55 PM

Quote:

Originally posted by stocktrader23
wtfe

eh?

booker · 10-20-2003, 02:55 PM

You can own as much as you want.. the restrictions in the 40s was for the war effort, precious metals like Gold and even not so precious metals like Copper were needed by the military. Two years in the 40s pennies were actually made of steel.

goBigtime · 10-20-2003, 02:57 PM

Ok found more information....

It was 1933, the FRB recalled all gold and made gold ownership illegal until 1971.

So now I guess people can own gold again?

goBigtime · 10-20-2003, 02:58 PM

Quote:

Originally posted by booker
You can own as much as you want.. the restrictions in the 40s was for the war effort, precious metals like Gold and even not so precious metals like Copper were needed by the military. Two years in the 40s pennies were actually made of steel.

But If it was for the war effort, why did it last till 1971?

freeadultcontent · 10-20-2003, 02:59 PM

Quote:

Originally posted by goBigtime
Ok found more information....

It was 1933, the FRB recalled all gold and made gold ownership illegal until 1971.

So now I guess people can own gold again?

Yeah and everyone tells the government that they own a untraceable metal that is valuable everywhere... yup you know I do.

Rinaldo · 10-20-2003, 03:00 PM

it wasnt owning the gold that was illegal... it was using as currency... it was hurting the economy so they made it illegal

crockett · 10-20-2003, 03:01 PM

Quote:

Originally posted by goBigtime

But If it was for the war effort, why did it last till 1971?

because MR T told them he was gona pound that ass intill they changed it

goBigtime · 10-20-2003, 03:02 PM

Quote:

Originally posted by crockett

because MR T told them he was gona pound that ass intill they changed it

Mr T pities the fools who don't accept gold as currency?

BuggyG · 10-20-2003, 03:03 PM

Quote:

Originally posted by crockett

because MR T told them he was gona pound that ass intill they changed it

I pity da fool who gonan take away my chains

crockett · 10-20-2003, 03:03 PM

yes , and he allso pittys the fools who don't use 1-800-collect

On-top · 10-20-2003, 03:06 PM

You can have gold. The Gov't will even sell it to you...

http://catalog.usmint.gov/wcs/wcs_co...egory;,00.html

Hell..you can even get platinum if you want...

http://catalog.usmint.gov/wcs/wcs_co...egory;,00.html

Dildozer · 10-20-2003, 03:08 PM

my friend got one of these it's fuckin cool

Brad-Wishing · 10-20-2003, 03:09 PM

Yeah.... no restrictions anymore. I own a lot of silver. I like silver.

On-top · 10-20-2003, 03:11 PM

Quote:

Originally posted by Brad-Wishing
I own a lot of silver. I like silver.

Me too.

booker · 10-20-2003, 03:14 PM

Exactly.. you can own as much as you want, but it is illegal to demand gold as payment for goods or services. Reason being it undermines fiat money.

The deal with 1971 is that the US Govt. didn't want foreign central banks to be able to convert their dollar holdings to gold.

What that accomplished is the US dollar became completely removed from any redeemable value, which gives the Fed precise control (through money supply and interest rates) over inflation and other economic factors. Economically speaking, it was a pretty good idea.

brand0n · 10-20-2003, 03:25 PM

i think u can have as much as you want

goBigtime · 10-20-2003, 03:32 PM

Quote:

Originally posted by brand0n
i think u can have as much as you want

Sure I can

10-20-2003, 02:53 PM	#1
goBigtime Confirmed User Join Date: Nov 2002 Posts: 7,761	Can americans own gold? Someone just walked in here saying they heard some doomsdayer on the old Art Bell show last night & the guy "Makes me want to buy gold" I know in the 40's or something it was illegal for Americans to own gold other than for jewelry... but does that rule still apply to this date? A friend of mine goes to switzerland once in awhile to visit his girlfriend out there & he's always telling me about their little bazooka joe bubble gum sticks of gold.... and how they are used "just like money" there So can we own gold ingots like that? If not, what is/was the rule called that prevents us from it?

10-20-2003, 02:54 PM	#2
stocktrader23 Let's do some business. Industry Role: Join Date: Jan 2003 Location: The dirty south. Posts: 18,781	wtfe __________________ Hands Free Adult - Join Once, Earn For Life "I try to make a habit of bouncing my eyes up to the face of a beautiful woman, and often repeat “not mine” in my head or even verbally. She’s not mine. God has her set aside. She’s not mine. She’s His little girl, and she needs me to fight for her by keeping my eyes where they should be."

10-20-2003, 02:55 PM	#4
booker Confirmed User Join Date: Jul 2002 Location: Baltimore Posts: 1,370	You can own as much as you want.. the restrictions in the 40s was for the war effort, precious metals like Gold and even not so precious metals like Copper were needed by the military. Two years in the 40s pennies were actually made of steel. __________________ Xanadu024 (aim) or 286785389 (icq) "Hard work beats talent when talent doesn't work hard."

10-20-2003, 03:03 PM	#12
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	yes , and he allso pittys the fools who don't use 1-800-collect __________________ In November, you can vote for America's next president or its first dictator.

10-20-2003, 03:06 PM	#13
On-top Confirmed User Join Date: Aug 2001 Location: IN Posts: 2,283	You can have gold. The Gov't will even sell it to you... http://catalog.usmint.gov/wcs/wcs_co...egory;,00.html Hell..you can even get platinum if you want... http://catalog.usmint.gov/wcs/wcs_co...egory;,00.html __________________ Dynamic Hosting

10-20-2003, 02:57 PM	#5
goBigtime Confirmed User Join Date: Nov 2002 Posts: 7,761	Ok found more information.... It was 1933, the FRB recalled all gold and made gold ownership illegal until 1971. So now I guess people can own gold again?

10-20-2003, 03:00 PM	#8
Rinaldo Confirmed User Join Date: Sep 2003 Location: South Florida Posts: 5,086	it wasnt owning the gold that was illegal... it was using as currency... it was hurting the economy so they made it illegal

10-20-2003, 03:08 PM	#14
Dildozer Confirmed User Join Date: Jul 2002 Location: Montreal Posts: 7,519	my friend got one of these it's fuckin cool __________________ Spam link here

10-20-2003, 03:09 PM	#15
Brad-Wishing Confirmed User Join Date: Oct 2003 Posts: 2,415	Yeah.... no restrictions anymore. I own a lot of silver. I like silver. __________________ SIG TOO BIG! Maximum 120x60 button and no more than 3 text lines of DEFAULT SIZE and COLOR. Unless your sig is for a GFY top banner sponsor, then you may use a 624x80 instead of a 120x60.

10-20-2003, 03:14 PM	#17
booker Confirmed User Join Date: Jul 2002 Location: Baltimore Posts: 1,370	Exactly.. you can own as much as you want, but it is illegal to demand gold as payment for goods or services. Reason being it undermines fiat money. The deal with 1971 is that the US Govt. didn't want foreign central banks to be able to convert their dollar holdings to gold. What that accomplished is the US dollar became completely removed from any redeemable value, which gives the Fed precise control (through money supply and interest rates) over inflation and other economic factors. Economically speaking, it was a pretty good idea. __________________ Xanadu024 (aim) or 286785389 (icq) "Hard work beats talent when talent doesn't work hard."

10-20-2003, 03:25 PM	#18
brand0n been very busy Join Date: Nov 2002 Location: the queen city Posts: 26,983	i think u can have as much as you want __________________ want to buy this spot for cheap? it is of course for sale. long term deals are always the best bet. brand0n/ at/ a o l dot commies.