Timmins & Beardmore - Northern Ontario

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Message: Plain and simple

Re: Plain and simple

posted on Jul 29, 2008 07:04AM

Thanks LB

Yup, they know that fear is a great motivator, it's just that they've substituted an artificial fear for the one most people are unaware of. The big money always gets forewarned of things to come, and gets out safely.

The only thing I find a bit creepy is that after the crash of '29, at the very bottom of the chart it became illegal to "hoard" gold. The American public in general had to turn in any more than the meagre allowed amount. I don't really know that Canada had any such ruling, but it's chilling nonetheless.

Here's the history behind it:

20. "Executive Order 6102 Forbidding the Hoarding of Gold Coin, Gold Bullion and Gold Certificates

By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled "An Act to provide relief in the existing national emergency in banking, and for other purposes", in which amendatory Act Congress declared that a serious emergency exists, I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section to do hereby prohibit the hoarding of gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations and hereby prescribe the following regulations for carrying out the purposes of the order...

All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following:

Such amount of gold as may be required for legitimate and customary use in industry, profession or art within a reasonable time, including gold prior to refining and stocks of gold in reasonable amounts for the usual trade requirements of owners mining and refining such gold.
Gold coin and gold certificates in an amount not exceeding in the aggregate $100.00 belonging to any one person; and gold coins having recognized special value to collectors of rare and unusual coins.
Gold coin and bullion earmarked or held in trust for a recognized foreign government or foreign central bank or the Bank for International Settlements.
Gold coin and bullion licensed for the other proper transactions (not involving hoarding) including gold coin and gold bullion imported for the re-export or held pending action on applications for export license..." Franklin D. Roosevelt, The Whitehouse April 5, 1933

Something to keep us busy while we wait for news!



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