The Government’s Chicanery with Gold

A gold bar!   www.realterm.de

With the price of gold reaching close to the $1,800 mark for a troy ounce many governments are looking at this high price as another way to grind their gold mining and owning citizens down more in their eternal lust for other people’s money.  The scam works like this by government decree the only place where you can sell gold is to the government at a steeply discounted price.  The next decree aims directly at the gold owner that states all gold must be sold to the government at their price that is far below its market value.  The alternative to these schemes is where the government out-and-out seizes all the gold from its citizens.

So far this ploy hasn’t reached the larger countries, but it might not be a good idea to hold your breath before it does.  Politicians in their eternal lust for new sources of funding know no bounds when it comes to your money.  What makes it even worse is when they paint a picture of making their confiscatory policies to be in the common good.  Well, the road to perdition is paved with good intentions.  One of these good intentions is grabbing your gold.

In the State of California they recently closed the state to dredging for the next five years on some sort of trumped up charge that the closure was for the common good of the environment.  They conveniently forgot there are people whose only source of income is from the gold they win from the streams in the state.

The seizing of gold isn’t beyond the pall of the US Government since they have already used this once in 1933 during the Great Depression.  The did raise the price of gold to $35 per troy ounce, but they left it there for more then forty years finally allowing the price to float to market levels in 1974.  They also completely disallowed gold mining during World War II, once again in the name of the common-good.  Many of the mines that were closed then have never reopened.

No doubt there is going to be a lot of gold that is apt to return to the earth from whence it came so the government can’t get their hands on it.  What’s next silver?  

The Mali Gold Scam

Native gold   USGS

P. T. Barnum was right there is a sucker born every minute and two to catch them.  I recently received an Email advising me that a gold miner in Mali had 2,500 kg of gold dust that was 96.6% 22k gold.  The price was ridiculous at USD $22,500. This is a good example of the old saying that if it sounds too good to be true it probably is!

How the scam works is by the miner to ask for money to refine the gold dust into bars as it is against Mali law to export gold dust.  Once the perpetrator has your money he vanishes into the woodwork of Mali with your money.

The scam works because there is always an element of greed and cupidity in most people so the best advice is look before you leap!!!