What a crazy statement for someone to make.

Gold has been money for over 2000 years. To think that it is civilized to ignore this fact is to equate civilization with ignorance.

Zero hedge did a story on this recently and in it was a chart showing that the percentage of people buying gold in the form of GLD is on the decline relative to those taking physical possession.

So it seems the market is recognizing the value in owning gold.

How "uncivilized" we are for seeking to protect our purchasing power. Those greedy people thinking they can keep what they have earned!

Possumpoint wrote on May 7^th, 2012 at 5:23pm:


Probably like the smartest people in the room.

Gold confiscation in the 30's was largely a matter of just breaking the contract between banker and customer.

People thought the gold they deposited was still theirs only to find they were the proud owners of un-backed money substitutes.

It is a little like 3 card Monte.

It could not happen again because gold is mostly held in private safes. And those in the know would merely tell the nice gubmit men that they were late and it had already been sold.