khl

As History Repeats Itself, Time to Buy Gold and Silver

Interesting comment about gold confiscation. Back in the 1930's FDR took the gold because he was planning to devalue the dollar and gold was considered money back then. Now what reason would they have for taking our gold. According to Peter Schiff, it would be the act of a desperate government seeking funds to pay the army and the police. Will we have a warning. Keep it close in a safe, take it out of the safe deposit box when the civil unrest begins which it most certainly will.

As History Repeats Itself, Time to Buy Gold and Silver

To think that debasing and ultimately destroying the dollar is somehow the road to our salvation is beyond idiotic and barely worthy of comment. The fact is and it has been proven by research over and over again, everything that the government did to try to mitigate the Great Depression in the 1930's only served to extend it and deepen it. It is only through an act of extreme revisionist history that FDR comes out a saint and his socialist policies our savior. Nothing could be further from the truth. His theft of gold and devaluation of the dollar did nothing to reduce unemployment.

Until 1933, when a panic occurred, the government did nothing and within several years, the economy was back again, stronger than ever. Blame for the Great Depression and the one we are in now can be placed squarely at the feet of the government and the fed. As Buffett said, and he is as guilty of it as anyone, "The only thing we learn from history, is that we don't learn anything from history." Don't believe it, keep your eye on Dear Teleprompter.