Are Precious Metals Being Quietly Confiscated?

by

November 3, 2008 – In 1933 the U.S. government confiscated gold from the people. In 2008 is it covertly repeating that exercise?

By Dave Eriqat
Full article

2008

While I cannot prove gold is being confiscated today, a number of curious observations have converged, making me wonder if a covert confiscation process is underway, specifically:

  • Prices are being relentlessly manipulated downward, apparently to dissuade people from purchasing precious metals. While many still argue against the theory that prices are being manipulated, I think the circumstantial evidence favoring manipulation is overwhelming.
  • The supply of precious metals, primarily at the retail level (where the masses buy it), is shrinking worldwide. All over the world dealers have shrinking stock to sell, delivery times are increasing and government mints are reducing sales to the public. The U.S. Mint, in particular, cites soaring demand as the reason for its stock depletion. While demand is certainly soaring, in times past the U.S. Mint has been able to satisfy much higher demand than today! So clearly soaring demand is not the sole explanation. Shrinking supply is also a factor. (By the way, falling prices amid shrinking supply and soaring demand is one of the prime arguments in support of the notion that prices are being manipulated.)
  • I see frequent TV commercials from companies offering to buy gold from the public, seemingly irrespective of market price movements. I can’t help but wonder if these companies are actually owned by the government or its agents. Even if they are not agents of the government, where do they sell the gold they collect? To the government? To the Federal Reserve? On the highly manipulated commodity futures market? The point is that the gold is being removed from the hands of the public and sequestered somewhere out of reach.
  • Central banks, which until recently were selling gold like mad to help depress the price, have abruptly ceased selling. Of course, that reduces the supply of physical metal available for ordinary folks to buy.
  • Finally, mining companies are seeing their stock prices pummeled, not to mention that at today’s prices it’s not cost-effective to even mine for precious metals, both of which will eventually reduce new supplies. And a significant portion of precious metal supply is extracted along with base metals, such as copper and zinc. But because demand and prices for these commodities have collapsed as well, the precious metal supply is reduced from that source too.

If one recognizes that today virtually all markets – stocks, bonds, currencies, commodities, precious metals, and even real estate (bank bailouts, toxic MBS purchases, interest rate reductions, renegotiated mortgages) – are heavily manipulated by the powers-that-be, then looking at the above list it’s easy to believe that the PTB could be behind every one of these trends.

If one wanted to effect a covert confiscation of precious metals, how would they go about it? They would quietly reduce the supply to keep people from getting their hands on precious metals, while encouraging the public to disgorge themselves of what precious metals they already held. And to thwart the law of supply and demand, which one would expect to cause precious metals prices to rise in a low supply/high demand environment, the prices can be manipulated in a forum that lends itself to that endeavor, such as the paper commodity futures market.

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One Response to “Are Precious Metals Being Quietly Confiscated?”

  1. Conspirama Says:

    Are Precious Metals Being Quietly Confiscated? « Flourishing In Crisis…

    Prices are being relentlessly manipulated downward, apparently to dissuade people from purchasing precious metals. While many still argue against the theory that prices are being manipulated, I think the circumstantial evidence favoring ……

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