Banning gold and silver in the United States would be just about as
effective for igniting demand as the hints of gun control that follow every
tragic school shooting. They are primitive political responses with
predictable outcomes equal and opposite to what was intended.
For gold and silver, the best ‘they’ can do now is pretend as though the
price is not already under full control. Like whistling past the graveyard
for the dollar. Gold left the western mainstream portfolio generations
ago.
But the precious metals never left completely. They can’t be destroyed.
Relic or no, billions have not forgotten. Humans haven't changed that much.
It took 40 years to completely remove metals, and yet central banks still
'hoard it’. No, they don’t officially recognize it as such. To admit that
would be to legitimize it. To confiscate again, at this point in the cycle,
would be the same. This time is different.
Now we have machines. Paper electronica. Special drawing rights in a World
Monetary system. Hanging, ripe for the taking. Banning gold wasn't enough the
last time. They didn't ‘devalue’ enough. Now they don’t need it. Gold was
already well down the path of its de-tethering.
From Wikipedia:
The main rationale behind the order was actually to remove the
constraint on the Federal Reserve which prevented it from increasing the
money supply during the depression; the Federal Reserve Act required 40% gold
backing of Federal Reserve Notes issued. By the late 1920s, the Federal
Reserve had almost hit the limit of allowable credit (in the form of Federal
Reserve demand notes) that could be backed by the gold in its possession (see
Great Depression). If gold can’t be legally owned, then it can’t be legally
redeemed. If it can’t be legally redeemed, then it can’t constrain the
central bank.
They can just do more with digits. And the low hanging fruit in the
digital matrix is ripe for the picking. How quickly it will sour. Let them
try and take it again; it will the final straw that breaks confidence once
and for all - trickle down.
Remember the threats of gun control?
http://money.cnn.com/2013/02/21/news/companie...mart-gun-sales/
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