Officially they did. Don't be naive and assume that all gold coins were confiscated.
Greg Utas wrote:Gold coins went out of circulation in the US in 1933, when FDR confiscated them all
And thus, lots more coins became colletible
Greg Utas wrote:Americans were not allowed to own gold again until 1975 (except for jewelry and collectible coins)
You shouldn't think. Verifying is better than thinking.
Greg Utas wrote:I think you're referring to 1971
Tis, but there's much more history to it than that, like Browns' Bottom.
Greg Utas wrote:This broke the Bretton Woods agreement of 1944.
With an ageing population, that's just a fraction of how much refugees we require. Our economic growth is based on lending, and that growing pool is only vaiable if the amount of participants grow. Our economy is based on the amount of consumers growing, and we an aging population.
Greg Utas wrote:That's how much, in excess of economic growth, we need to conjure and give to special interests
So we create wars and generate regugees, and conjure up more consumers to keep the boat going. We not taking those refugees because we think they deserve it, but because we need to grow the population, which our greying society just doesn't. No new consumers without refugees.
And anyone who knows basic math can explain how that line will break. May take more than a hundred years, but eventually, it will break.
Even if we go "rabbit" and grow our own; there's a natural limit to supply, and as such, the current trend of growth will stop. We dunno when, but math says it will.
And me? I'll be having fun, because silver doesn't have an inflation target. Like BC, the amount of silver is limited. Look up historical gains, if you really interested. Gold did over 300% over the last years, compare that to your fiat savings account.
Bastard Programmer from Hell
"If you just follow the bacon Eddy, wherever it leads you, then you won't have to think about politics." -- Some Bell.