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RE: The effect of the easing of Quantitive Easing will be felt on Wall Street - Pr. Steve Keen

in #economy • 7 years ago

thanks for posting this @pele23. history tends to repeat itself and we seem to be slow learners.

There is no 'nice' scenario resolution to this. The Global debt has passed the point of no viable solution. History tells us that governments will inflate the money supply which deflates the currency's value in part to make the debt easier and cheaper to repay.

Gold and silver have traditionally be the safe havens during this disruptive part of the money cycle.

good question @stevejhuggett - There is no historical precedence (yet) to predict how digital currencies will fair.

7 years ago in #economy by
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     7 years ago 

    Indeed gold and silver will be the safe and crypto too, I think...
    But if history repeats itself, gold and silver will be confiscated... let’s hope not!

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     7 years ago (edited)

    Ah yes @pele23, the real possibility of gold and silver being confiscated > here's a segment from a very thorough study of this issue >

    in December, 1973 that the ODGSO issued a famous memo that every collector of gold coins issued prior to 1960 should remember even today:

    The GOLD COIN STATEMENT was specific in stating that "All foreign gold coins minted 1934 through 1959, if genuine and of legal issue, are now considered to be of such recognized special value to collectors of rare and unusual coins as to warrant the issuance of a general license for their importation into the United States under section 54.20(e) of the gold regulations for numismatic purposes."

    That was a wrap, for it meant that importation of coins made prior to 1960 were "rare and unusual" and thus exempt under the 1933 and 1934 Executive Orders.

    A small safe harbor for those who are looking to buy and hold gold coins?!?

    source > http://www.usagold.com/gildedopinion/gold-confiscation-ganz.html