Gold Now Trading at $1,800/oz in India

Tekoa Da Silva
Bull Market Thinking

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Gold Confiscation Argument is Dead

Dijsselbloem, who leads the group of 17 euro finance ministers, said imposing losses on depositors and bondholders can be part of the bailout toolkit after such measures were taken to avoid default in Cyprus.   LINK...
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In light of recent events in the international banking system and government legislations, the idea of someone confiscating your gold is about as likely as pigs flying, no offence to pigs. People forget that during the 1930's the USD was backed by gold and the government needed gold to expand their balance sheet. Also there were no "Registered Retirement" accounts back then and many people stashed gold coins away for safety, not bank deposits, so there was not much liquidity in the banking system. 
Today, we have no gold standard and everyone has a "Registered Retirement" account and deposits in a bank account. The example being set in Cyprus is telling us that if central bankers want your money they will just take it from your deposits and if the government needs to add liquidity to the system they will simply change the rules on your "Registered Retirement" account and take the money away from you, because they have to "save the nation." What do you think "Registered" really means? You give up control of your assets and register them to the government for a tax break now. However you become a debt prisoner in your retirement years. So if you want to "save your bacon" eliminate as many intermediaries as possible between you and your assets. As the old saying goes, "He who holds the gold, makes the rules."   BK

Gold and Silver Financial Review 11/02 by Gold Radio Cafe | Blog Talk Radio

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Gold Confiscation Started In 2006

"Fools Gold" In The 21st Century And The "New And Improved" Gold Confiscation Swindle
by Bosko Kacarevic

April 5, 1933 President Roosevelt announced Executive Order 6102 forbidding the hoarding of Gold Coin, Gold Bullion and Gold Certificates. Back then the USD was technically backed by gold, up until 1971 when President Nixon closed the Gold Window completely. Now the USD is a "fiat" paper currency backed by the full "faith and credit" of the US Government. Just saying that gives me chills. "Faith" in the USA is now questionable? "Credit" is definitely out of control with a national debt of over $16 TRILLION that will never be paid, not to mention the unfunded liabilities.
So the question is, will the USA confiscate your gold again? Ask yourself this: Is there a gold standard? Can the US FED just print the money they need? What is considered the global reserve currency today? As you can see there is absolutely no need for them to confiscate your gold when they can just create the money they need to operate, and that's exactly what they've been doing. What do you think TARP, QE, Stimulus and all the bailouts are all about? 
The angle that many gold commentators seem to overlook is the fact that governments and Central Banks around the world have no need to confiscate your gold because they can easily "confiscate your wealth" by expanding the money supply. It's really that simple. 
Now, here's the new and improved GOLD SWINDLE and the Fools Gold of the 21st Century. In my opinion, governments along with the help of banks have been confiscating your gold since about 2006 with the birth of paper gold, electronic gold, ETF's, ETR's and so on. Think about it? What do you really think these new derivatives of physical gold bullion really are? It's gold confiscation, because the money that you intended to invest in physical gold bullion is now in the "custody" of the banks, which really control the government, in my opinion anyway. The fundamental reason for owning gold to protect your wealth is backfiring. All you're doing by investing in paper gold is allowing THEM to continue "gaming the system."  So, you gold investors out there who are frustrated with the volatility in gold and tired of waiting for the BIG move, then get your money out of the banks custody and take the physical gold bullion out of the system. It seems that people have become so conditioned that the government doesn't even have to demand your gold with an Executive Order anymore. All they have to do is create a fancy new financial product that makes it "easy" to own gold. Let me tell you folks, real gold is anything but easy to own. Just ask a miner, refiner or a gold dealer like myself. First you have to find it, dig it out, refine it, store it, insure it, inspect it and protect it by any means possible. Remember that old saying, "if it's easy to get, then it's probably not worth having." Even in the 21st Century, "FOOLS GOLD" still exists in paper or electronic form, take your pick, it's easy, but don't complain when it's gone.
Folks, gold is never easy to own, otherwise it wouldn't be GOLD!

Gold Moving Into The Monetary System

Mineweb
Author: Julian Phillips
Posted: Thursday , 06 Sep 2012 
If these changes are instituted, there is a danger of interference in the gold market price by the public, but on the upside not the downside. After all, it will be in the interests of the monetary system to see higher gold prices rather than lower prices that the powers-that-be appeared to want between 1985 and 2005. But they will want to see a level of stability consistent with that of currencies and other monetary assets in that situation. Their desire for this can be overwhelming, as we saw in 1933 when U.S. citizens were banned from holding most forms of gold in the interest of the nation's monetary system. It was not until 1974 that they were again permitted to do so; however, this permission came with the proviso that owning gold from then on was a "privilege, not a right" as though to warn us all that things could change again. Even though governments attempted to write gold out of the system, they made it clear that they considered gold as part of their domain.

This is a real danger and one that should not be overlooked by us all in all the nations of the world. Any government that feels it is in their interests to take their citizen's gold will do so even if it means changing their laws.   LINK...

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If you think your gold is safe in a bank vault, think again? The best solution, if it's "suitable" is at home in a safe or our private and fully insured U-Vault Account, outside the banking system.   BK

Jullian Phillips on QE, When Not If

A great Mineweb podcast with Jullian Phillips.  LINK...

Highlights:

GEOFF CANDY: Just coming back to the comments you were making about the Bank of International Settlements and the role of gold as a monetary instrument, the big issue recently that's been raised quite a lot is golds role as a tier one asset particularly with regards to a change in rules by the Basel III accord, how much of an effect is this likely to have on the gold market?

JULIAN PHILLIPS: I think it's going to have a dramatic effect and in fact it's one of the most important events that gold has seen since the Washington Agreement and you're going to see a new demand come into the market from commercial banks. After all gold as the head of the Bundesbank, Herr Weber described it, is the counter to the US dollar therefore it's a matter of prudence if commercial banks hold gold so that in the event of what we've seen so often now, the decay of paper assets on their balance sheets, then the rise in gold should act in some way to compensate it. It's the case of getting the right percentage, but it brings gold into commercial banks, a new demand on top of central bank demand. And with banks now, shall we say, agreeing to its importance then it is an important remonetisation step, and I think as I said earlier, it will act in support of the financial system. But the very fact that there is so little gold out there to be bought would necessitate a higher price, a very much higher price. So from the beginning of January next year when we're supposed to see implementation of these recommendations, we might see an entirely new force coming into the gold market, and one that could easily overwhelm private investors, could easily lead to a step as we saw in 1933 where the US confiscated its citizens gold and even when they were allowed to own gold again in 1974, the statement was made that owning gold was not a right, it was a privilege. Now if that's the authorities' attitude, then it puts very firmly on the table the spectre of confiscation sometime in the future. And that future might be much closer than we think. So investors have got to be very careful to act properly in terms of holding that gold in the right place, in the right way - not just in the right place...

The Wealthy are Buying Gold Coins

Confiscation of Gold and Silver Coins Will Not Happen
Greg Hunter  www.USAwatchdog.com
April 9, 2012

People ask me on a consistent basis if I think the government will confiscate their gold and silver coins if times get rough.  I feel there is little chance of this happening, and here’s why.  Gold and silver coins are predominantly held by the wealthy (especially gold).  The wealthy are not going to allow the government they support with campaign money to take their gold.  It is just not going to happen.  Think about it, poor and moderate income people (and that is at least half the population) do not have a significant holding of gold or silver.  Most of the rest of the population have the bulk of their wealth tied up in 401-K’s or IRA’s.  This may come as a surprise, but most rich people do not have 401-K’s or IRA’s.  They have stocks and bonds, but the rich also have the money and smarts to diversify their portfolios.   LINK...