gerald wrote:Yes, Kitco is pushing precious metals, and his thinking may be right. However, if the government does another "FDR"
calling in gold at the governments price, what good is buying precious metals? For that matter why hold money, the government can change it's value by decree , as has happened in history. An Ancient Roman once said, "Yes the government and society are corrupt, but where does one go? Everywhere else is worse". As John has pointed out, a small country like Iceland is at the mercy of larger powers. It may be better to ride a deranged bull then to seek comfort behind a lamb. An old Chinese curse says "may you live in interesting times" these are interesting times and it seems they will become more so. So much for my downer.
There's a lot of history behind Roosevelt's confiscation that rarely comes to light. I'm pretty sure there was a little known 5 ounce exemption per person. If someone thinks Obama is going to pull another FDR I suppose they want to have a lot of small coins and a big family. I always thought for those who live in the city, digging a few 4 foot deep postholes and sinking a few fenceposts in concrete would also do the trick. Or just concrete them into the basement floor if you have one.