Confiscation

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  • Sat, Mar 07, 2009 - 03:43pm

    #11
    Peak Prosperity Admin

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    Re: Confiscation

Do you really think its better to buy coins that are untraceable with cash locally vs. buying registered bullion with credit cards through online dealers?

Is that extra veil worth the extra effort/cost?

 

 

  • Tue, Mar 10, 2009 - 03:08pm

    #12
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    Re: Confiscation

[quote=plantguy90]

OK, so on a current and practical level, is there any difference between the various forms of gold we take delivery of?

A Monex agent told me that the 22kt coins are not registered,
therefore more readily "hideable," whereas the bullion and other 24kt
stuff was registered with the IRS, I dont know if thats true or not. 
She obviously wanted to sell me coins, but I wanted bullion.

[/quote]

[quote=plantguy90]

Do you really think its better to buy coins that are untraceable with cash locally vs. buying registered bullion with credit cards through online dealers?

Is that extra veil worth the extra effort/cost?

[/quote]

 

Plantguy, did you ever get an answer to these questions?

 

 

 

  • Tue, Mar 10, 2009 - 05:01pm

    #13
    Peak Prosperity Admin

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    Re: Confiscation

Nope.

  • Tue, Mar 10, 2009 - 05:43pm

    #14
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    Re: Confiscation

Unless you are paying cash for more than $5K worth of bullion at a crack, it is extremely unlikely that US gov’t would know anything about your transaction.  In transactions >$5K, a Suspicious Activity Report (SAR) might be filed.   Coin dealers are frequently fear mongers trying to get you to pay a significant premium for products of lower value.   Avoid whatever hype they’re selling and buy American Eagles or 24kt bullion.  If someone just wants to sell hype, I’d find another vendor.  There are some advantages to buying locally, i.e., less delay/risk.  But you’ll pay a premium for that.  So, your comfort level will be a factor in whatever you ultimately pay. 

  • Wed, Apr 29, 2009 - 08:47pm

    #16
    Peak Prosperity Admin

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    Re: Confiscation

Why would the government want to confiscate gold? If it is to reestablish a gold based currency, isn’t this good? And wouldn’t we want to support it? And wouldn’t the currency they give us for the gold actually be valuable? And wouldn’t we all be celebrating the end of the currency fears?

David

  • Wed, Apr 29, 2009 - 09:01pm

    #17
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    Re: Confiscation

davidm,

Unless you accidentally posted this here instead of the Definitive Humor thread, I would strongly suggest you read all about gold confiscation in the 1930’s. It wasn’t pretty.

  • Wed, Apr 29, 2009 - 09:04pm

    #15
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    Re: Confiscation

Find a dealer who will let you pay cash – no questions asked. In today’s environment, I wouldn’t use a credit card or a check or anything that could trace back to me.

There’s at least one coin dealer in the Portland, OR metro area that I’m aware of who will work on a cash basis – buy or sell. That’s who I’m going to see when I’m ready. Hopefully, you can find one in your area who will do the same.

[Edit on 4/29/09]

Since I wrote the above, I’ve discovered that there’s almost no way of easily purchasing PM’s without some information being divulged along the line. Specifically, my bank records all my transactions and the limitations that the bullion dealers are required to adhere to make it very difficult to be anonymous any more. Sigh….

  • Wed, Apr 29, 2009 - 09:37pm

    #18
    Peak Prosperity Admin

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    Re: Confiscation

Here’s a true story about a fellow that sells gold, and his encounter with the government.

http://the-moneychanger.com/dangerous.phtml

Not fresh, but not stale either.

Cheers,

Aaron

PS – this guy gives a lot of great analysis of the Gold market. I enjoy reading his work, even if he is a bit radical. I suppose it’s easy to be so if you’ve been harassed as much as him.

  • Wed, Apr 29, 2009 - 11:26pm

    #19
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    Re: Confiscation

Great post, Aaron.  Gives new meaning to the ‘Land of the Free’?  I encourage everyone to read it…. sure made me pause and reflect.

  • Wed, Apr 29, 2009 - 11:46pm

    #20
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    Re: Confiscation

I can’t imagine I’ll get around to this issue soon, what with all the other topics raised here, but maybe it will turn up in other posts. Meanwhile, I’ll take CM’s opinion on the matter and assume that if there is gold confiscation, we won’t be celebrating.

David

 

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