Friday, September 9, 2011
Avoiding Gold and Silver Confiscation
Note: Nothing below constitutes or should be taken in any way as financial advice.
I firmly believe that in the future--before the rapture--the economies of the world will collapse and I believe that gold will be a way to help insulate yourself and your family from financial difficulties--because gold is one of the most ancient mediums of exchange and stores of wealth.
Some Christians balk at the idea of owning gold and silver saying it is worldly to accumulate earthly treasures, and it is, but I am not talking about storing up treasures on earth for worldly ambitions, I am talking about having resources to survive the coming economic storms-- like how bout not being able to buy or sell without "the mark." I believe that is how satan will get many to take the mark--he will strip them of their resources and then they either take the mark or starve to death. So preparing might prevent that situation from developing--not that any true Christian will take the mark. Doesn't God tell us to go to the ant and learn from her storing up for the future? So is it wrong for a Christian to try and store up for the future so that they can weather the storms and help others to do so too? I don't think so and gold may be one of the best ways to do that.
Will gold be confiscated? That is a question that has been going around a lot over the last few years. Roger Weinland has received inside info that gold confiscation is coming in the fall of 2011. Is this possible? Well they took it in 1933 by making it illegal to own more than $100 of gold and I believe that it is highly possible that in a crisis they will do it again! Also Dan 11:43--a passage which many attribute to the antichrist--alludes to the fact that gold and silver of at least Egypt and maybe the world, depending on how you interpret it, will be given into his hands. 43But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt: On the other hand there are many that firmly believe that gold will never be confiscated.
For argument's sake let's assume it will happen, this is how I envision it; First it will probably be justified under some anti hoarding rhetoric--blaming the economies woes on people who collect precious metals. Then they will probably require all citizens to turn in all gold bullion that they own over a certain amount under penalty of fine and or imprisonment--just like in 33. Then they will probably send the military to retrieve all the gold out of the large private holding facilities, and will order the banks, which were previously shut down, to go through all the safety deposit boxes and turn in all the gold found there. They will probably also make gold illegal for barter. That may not be what happens, but that is how I envision it.
Some have told me that they would not turn in their gold because the government would be performing an illegal action against them. But if ownership of gold were made illegal and you kept it, what good would it be? Stores could not legally accept it. It could only be used for barter with individuals and you would be risking fine or imprisonment.
Personally I would rather avoid that conflict and own non-confiscateable gold, if there is such a thing. I believe that there MAY be 2 forms of non-confiscateable gold; Numismatic coins and Chinese coins. The first time they confiscated gold they made an exception for numismatic coins and if they confiscate it again they may make the same exception.
What does the treasury define as a numismatic coin? The most recent treasury document regarding the definition of numismatic has defined numismatic gold as coins that are at least worth two times their bullion value. In other words if gold were at $2000 an ounce then a one ounce gold coin would have to be worth $4000 or more to be defined as numismatic. Thus the coin would have to have a rarity value added to its bullion value to make it worth twice the spot value. Generally these would be coins graded MS 60 and above and would depend on the coin denomination and year. Also numismatic coins can change in value due to demand. You can go to a coin grading service like PCGS or NGC to see values of various coins.
Thus if they confiscate gold and if they make an exception for numismatic coins, as they did the first time around, and use this definition then a coin having a numismatic value worth twice its melt value is the type I want to own.
The other possible type of non confiscatable gold may be Chinese gold coins. They MAY not be subject to confiscation because they are an actual foreign currency. Read what this author has to say about this.
This is being caused by a tiny quirk in the law, wherein the U.S. Treasury cannot call in for redemption, forced or otherwise, gold bullion coins held by U.S. citizens which are denominated, marginally or otherwise, in a foreign currency which is not “Free to Trade” and as such constitutes a “non-convertible currency” by the Bank of International Settlement (BIS). This, in turn, makes the Chinese Gold Bullion Panda Coins, which are issued by the Bank of China, the only officially authorized issued gold bullion coin of a major foreign government, exempt from U.S. Treasury redemption. Why? Because, Chinese Panda coins are denominated in the Yuan, China’s official currency, which is a non-convertible currency, in accordance with BIS’s definition. http://www.stormfront.org/forum/showthread.php?t=159830
So if they confiscate gold, and if these exceptions will be valid, then to preserve my wealth, and possibly create some, I am seeking to acquire Chinese gold coins and numismatic coins. Since Chinese gold sells pretty close to the bullion price and given the high price and volatility of numismatics Chinese gold may be the better way to go.
What about silver? Many who believe that gold confiscation is coming have turned to silver believing that it will not be confiscated. I am not convinced that they won't confiscate silver either. If you read the link above about confiscation of gold in 1933 they also confiscated silver--they made it illegal to hoard either--that is own more than $100. I admit that it would be much more difficult to confiscate silver--there is about 17 times more of it--but they could make it illegal to use, so again then what good would it be?
So if that were the case and I wanted to own nonconfiscatable silver the principals above regarding gold would also apply--numismatic and Chinese.
Another strategy I am using to preserve wealth and possibly increase it is by purchasing precious metal stocks. I believe that in a currency crash precious metals mining companies would also rise in value.
This is my strategy to protect against a financial collapse, and none of this is to be considered as financial advice. I am just sharing my financial strategy to help survive the coming economic collapse--whenever it occurs. I do not know for sure if confiscation is coming and I do not know for sure if any of the strategies above will work, but I am not going to sit idly by and do nothing--I will prayerfully do all I can and trust God for the rest. BTW; I thought the collapse was going to hit last Fall, many are saying this Fall. When will it occur? I do not know, but I firmly believe that it is coming soon.
Note: I started this post on Aug 1 and have been severely hindered--wife had an emergency surgery, kids sick, went through 3 harrowing T storms while on the highway just missing 2 small tornadoes, without power twice, huge projects--working sometimes till midnight, hurt leg--still hurting, a hurricane in which we just missed another small tornado and were without power for 46 hours, plus many other things. The devil is hitting us hard and making our life very difficult. I thank God for all that He has allowed us to go through for God will use it for the good. I hate to sound like a cry baby but things are very intense and if you want to help this ministry continue just say a little prayer for me and my family--I have felt your prayers on many occasions.