Socio-Economics History Blog

Socio-Economics & History Commentary

Obama, Roosevelt, Gold Confiscation and Dollar Devaluation

  • We are in the early phase of the 21st Century Great Depression. More and more people are using the ‘Depression’ word. To get an idea of what is about to happen we need to go back to 1929-1939, the period of the 1st Great Depression. 
     
  • Will this be worse than the 1st Great Depression? It is likely to be a lot worse. My feeling is that we are entering a period of global war or wars again. What is the Obama administration up against in this economic 9/11 ? What will the administration implement?
     
  • Many commentators have mentioned the similarities between Obama and Franklin D Roosevelt (FDR). They are right. Thing about the New Deal, fiscal stimulus, infrastructure spending… Both Obama and FDR are talking up the same alley. 
     
  • For Gold Bugs, there is that interesting policy of FDR : the confiscation and revaluation of Gold (devaluation of USD against Gold).  Will Obama stay true to this FDR policy? Who knows ?
     
  • Another Gold Bug, Stewart Thomson says in Is President Obama Wearing A Giant Gold Mask? :
     

    • The “revaluation” issue of gold has been a hot potato with gold investors. Investors have polarized into two camps. Polarized “I’m 100% right and you’re 100% wrong” thinking by investors is generally dangerous and destructive.
       
    • The gold revaluation issue has been twisted, thru lack of understanding, into the “gold confiscation” issue. With one camp of investors and analysts “heading for the hills” and bashing the US govt, the US President, the US Central Bank, and the US Treasury as incompetent idiots or evil monsters. This camp believes there will be a confiscation.  ……..
       
    • The second camp are a combo of head in the sand investors and analysts and money managers who see confiscation as something that was “ancient history”. These are the same people who believed the stock market bull was “here to stay” in the 1990s. They label people who mention the word “confiscation” as Quacks and Weirdos.
       
    • If you read their work carefully, many of the money managers in the second camp made statements like “there won’t be anything but a mild recession” in very recent years. And failed to mention the derivatives issue in any serious way. Once the crisis hit fullblast, however, there they were in all their glory. Claiming to have predicted everything. Look closely. They got it all wrong. The facts are all there. And they are getting the revaluation issue all wrong now.
       
    • The gold revaluation issue is a serious issue. Ben Bernanke takes it seriously. So President Obama, by definition, is taking it very seriously. We’re only in the very early stages of this economic crisis, regardless of the damage to the stock and commodity markets. I repeat: revaluation is a US Treasury tool. Not a central bank tool. Revaluation is not brought out of the US Treasury toolbox until the Central Bank’s tools, rate cutting to zero, asset purchases with printed money, have been used extensively. The rate cut tool has been used fully. There is much more that can, and likely will, be done with the asset purchase tool. ……
       
    • Gold Revaluation is more than a possibility. It’s a freight train. And President Obama is the man who is going to be driving it. With both the US Treasury and the Central Bank on board. And those who have polarized themselves on both sides of the issue instead of looking at the reality are standing on the tracks. It won’t go well for them. You want to be on the train, not on the tracks. …..
       
    • The US govt cannot “juice up” the economy without a drastic cut in the value of the US dollar. If the citizens, and perhaps global citizens, respond to that cut by hoarding gold instead of spending cash on company products, there is no restart. There is a wipeout. …..
       
    • After the Gold Revaluation tool is used by the US Treasury, the gameball is handed back to the US Central Bank. And the nuclear weaponry is brought out of the tool box. The money printing tool.
       
    • The Fed will begin to print money at unprecedented rates. What you have seen to date is child’s play. Question: How can the Fed restart the economy if the printed money is taken and stuffed into gold?
       
  • So what do you think? Confiscation, Revaluation?? All that glitters is Gold. Deflation (implying economic collapse) or hyperinflation, Gold will still shine. 
     
  • See also :
     
    Massive US Dollar Devaluation Against Gold During 2009

end

January 20, 2009 - Posted by | Economics, History | , , , , ,

13 Comments

  1. [...] Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Gold Rush Worldwide! Obama, Roosevelt, Gold Confiscation and Dollar Devaluation Economic Depression and Gold Celente – Code Red ! Economy in Collapse ! GEAB : Systemic Economic [...]

    Pingback by Gold Primed to be ‘Mania Asset’ « Socio-Economics History Blog | February 21, 2009

  2. [...] See also :   Gold About to SkyRocket ! China Worries about Treasuries and Diversify into Gold ! Gold Price Set to Soar ! What’s not to Like about Gold ? Dollar Devaluation, Debt Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Gold Rush Worldwide! Obama, Roosevelt, Gold Confiscation and Dollar Devaluation [...]

    Pingback by Demand for Gold Coins Soar! « Socio-Economics History Blog | February 27, 2009

  3. [...] See also :   Demand for Gold Coins Soar! Gold About to SkyRocket ! China Worries about Treasuries and Diversify into Gold ! Gold Price Set to Soar ! What’s not to Like about Gold ? Dollar Devaluation, Debt Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Gold Rush Worldwide! Obama, Roosevelt, Gold Confiscation and Dollar Devaluation [...]

    Pingback by Gold Price to go Parabolic! « Socio-Economics History Blog | March 9, 2009

  4. [...] See also :   Gold Price to go Parabolic! Demand for Gold Coins Soar! Gold About to SkyRocket ! China Worries about Treasuries and Diversify into Gold ! Gold Price Set to Soar ! What’s not to Like about Gold ? Dollar Devaluation, Debt Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Gold Rush Worldwide! Obama, Roosevelt, Gold Confiscation and Dollar Devaluation [...]

    Pingback by Gold is Ready to Go Very High Very Fast! « Socio-Economics History Blog | March 13, 2009

  5. [...] See also :   Gold is Ready to Go Very High Very Fast! Gold Price to go Parabolic! Gold Daily Chart Demand for Gold Coins Soar! Gold About to SkyRocket ! China Worries about Treasuries and Diversify into Gold ! Gold Price Set to Soar ! What’s not to Like about Gold ? Dollar Devaluation, Debt Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Gold Rush Worldwide! Obama, Roosevelt, Gold Confiscation and Dollar Devaluation  [...]

    Pingback by Quantitative Easing - Death Knell for Dollar, Re-Igniting the Gold Rocket ! « Socio-Economics History Blog | March 19, 2009

  6. [...] Gold is about to SKYROCKET !!!! See also :   Quantitative Easing – Death Knell for Dollar, Re-Igniting the Gold Rocket ! Let the Currency Wars Begin? World Financial System in a State of Insolvency ! Global Financial & Economic Meltdown Global Monetary Meltdown in 2009 ? Gold is Ready to Go Very High Very Fast! Gold Price to go Parabolic! Gold Daily Chart Demand for Gold Coins Soar! Gold About to SkyRocket ! China Worries about Treasuries and Diversify into Gold ! Gold Price Set to Soar ! What’s not to Like about Gold ? Dollar Devaluation, Debt Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Gold Rush Worldwide! Obama, Roosevelt, Gold Confiscation and Dollar Devaluation  [...]

    Pingback by Gold to Soar as the US Dollar and then Treasury Bonds Collapse ! « Socio-Economics History Blog | March 20, 2009

  7. [...] The USD is heading for a massive collapse. The movement towards a 1 world currency is gathering strength. See also :   U.N. Panel says World Should Ditch Dollar ! US is Already Bankrupt ! Quantitative Easing – Death Knell for Dollar, Re-Igniting the Gold Rocket ! Let the Currency Wars Begin? World Financial System in a State of Insolvency ! Global Financial & Economic Meltdown Global Monetary Meltdown in 2009 ? Dollar Devaluation, Debt Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Obama, Roosevelt, Gold Confiscation and Dollar Devaluation  [...]

    Pingback by China Backs Russia’s Call for New World Reserve Currency! « Socio-Economics History Blog | March 21, 2009

  8. [...] See also :    China Backs Russia’s Call for New World Reserve Currency! U.N. Panel says World Should Ditch Dollar ! US is Already Bankrupt ! Quantitative Easing – Death Knell for Dollar, Re-Igniting the Gold Rocket ! Let the Currency Wars Begin? World Financial System in a State of Insolvency ! Global Financial & Economic Meltdown Global Monetary Meltdown in 2009 ? Dollar Devaluation, Debt Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Obama, Roosevelt, Gold Confiscation and Dollar Devaluation  [...]

    Pingback by Gold Soars by 8% as Fed Shocks Market Announcement of Dollar Debasement ! « Socio-Economics History Blog | March 21, 2009

  9. [...] See also :   Fed Destroys the US Dollar, Gold and Euro Soar ! China Backs Russia’s Call for New World Reserve Currency! U.N. Panel says World Should Ditch Dollar ! US is Already Bankrupt ! Quantitative Easing – Death Knell for Dollar, Re-Igniting the Gold Rocket ! Let the Currency Wars Begin? World Financial System in a State of Insolvency ! Global Financial & Economic Meltdown Global Monetary Meltdown in 2009 ? Dollar Devaluation, Debt Default & Gold Massive US Dollar Devaluation Against Gold During 2009 Obama, Roosevelt, Gold Confiscation and Dollar Devaluation  [...]

    Pingback by Gold New Upleg as Lunatic Fed Creates $1 Trillion Dollars Out of Thin Air « Socio-Economics History Blog | March 21, 2009

  10. The world knows, MONEY, is no longer a good exchange for
    commodities. Value is held from within. A commodity is value from within. How to value commodities with a single unit of exchange for fair market value in a one world market
    is and interesting and necessary concept that has to be address as soon as possible. There is only so much gold in the world market today. What would have to be the price of gold in this world market to cover the Worlds Gross National Produt? Really, coins, paper money and the such are really non profit time consuming drain on the economy. Money should be electronic transfer of funds. Money are funds and commuter points are money denoted as funds. Through triangular transfer then a commodity can be valued. A commodity is valued as so many computer points and all transfers are electronic. The carriers of the transaction will be computer designated and carried by the carriers.

    Comment by Dean Hamilton | September 6, 2009

  11. [...] the price of gold is now an issue with the Chinese and Russian governments. The price of gold often increases when paper money is [...]

    Pingback by Gold, Another Economic Bubble? « Cavanaugh Business Solutions Blog | September 19, 2009

  12. [...] I do not believe US treasuries are a safe haven. There may be a default coming. I recommend only physical precious metals. When the world rejects USD, they will turn to gold as settlement for international trade. I do not recommend gold/silver ETFs. You never know, the Obama administration may take a leaf out of Roosevelt and institute gold confiscation. Precious metals ETFs will likely be the target. It is difficult to enforce confiscation from individual holders of physical gold. There is simply too much work to do to take gold from the masses. Many will simply deny they have any, very much like in the Roosevelt era. See: Obama, Roosevelt, Gold Confiscation and Dollar Devaluation . [...]

    Pingback by John Lekas: Dow Will Fall Below 6300 by Year End And 4200 By 2011 « Socio-Economics History Blog | October 7, 2009

  13. GOLD IS IT, WILL BE THE LAST WAT TO FEED YOUR FAMILY

    Comment by JIMMY | March 27, 2010


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