[e-gold-list] Re: Fw: Laws pertaining to gold ownership in the United States
My understanding is that there were some very specific laws past after the Great Depression about either the amount and or what form of gold can be held by US citizens. I have also be lead to believe that in certain forms it can not be confiscated by the US Government. It's not possible to prove a negative. If there are ANY laws regulating the purchase and sale of gold in the US, I, too, would like to know about them. It's hard to imagine that there are any, since every pawn shop, on every corner, buys and sells gold. I think that FDR was misaligned. In 1933, they could NOT demonitize the US dollar; it was then considered unconstitutional. In 1933, they could NOT devalue the US dollar; they waited too long and gold reserves were too low after the gold run. Making it illegal to own gold, while still keeping the dollar technically backed by gold was an elegant solution to a catastrophic problem. Seriously... what SHOULD FDR have done? What would you have done? What other solutions could have been found for his problem, in 1933? Anyway, with the US dollar demonetized, it's highly unlikely the US would ever consider making it illegal to own gold again, IMHO. Craig --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] RE: Fw: Laws pertaining to gold ownership in the United States
In answer to David H. Wilkins's questions: In 1933 President Franklin D. Roosevelt banned the export of gold, halted the convertibility of dollar bills into gold, ordered US citizens to hand in all the gold they possessed and established a daily price for gold. 1934 Roosevelt fixed the price of gold at $35 per ounce. December 31, 1974 the US government ended its ban on individual ownership of gold. In 1997 Congress passed the Taxpayers Relief Act, allowing US Individual Retirement Account holders to buy gold bullion coins and bars for their accounts as long as they are of a fineness equal to, or exceeding, 99.5 percent gold. Eve Offshore Gold Account! Now! Free! http://www.osgold.com/index.php?id=1033 -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of Eric J. Gaither Sent: Friday, May 04, 2001 4:36 AM To: e-gold Discussion Subject: [e-gold-list] Fw: Laws pertaining to gold ownership in the United States Interesting questions I received from a possible Gold Economy soon-to-be: To whom it may concern: Can you help me with the following information please? What are the current laws pertaining to gold ownership in US? My understanding is that there were some very specific laws past after the Great Depression about either the amount and or what form of gold can be held by US citizens. I have also be lead to believe that in certain forms it can not be confiscated by the US Government. Can you or someone on your staff please clarify this situation for me? Or can you direct me to where I may get accurate information in regard to this question? I thank you in advance for your prompt response to this inquiry. Regards David H. Wilkins __ Do You Yahoo!? Yahoo! Auctions - buy the things you want at great prices http://auctions.yahoo.com/ --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] RE: Fw: Laws pertaining to gold ownership in the United States
December 31, 1974 the US government ended its ban on individual ownership of gold. In 1997 Congress passed the Taxpayers Relief Act, allowing US Individual Retirement Account holders to buy gold bullion coins and bars for their accounts as long as they are of a fineness equal to, or exceeding, 99.5 percent gold. This confuses me, since the American Eagle, issued by the US Government and heavily traded in the US, is only 90% gold. Craig --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] RE: Fw: Laws pertaining to gold ownership in the United States
It seems to me that the 1974 legislation removed the ban on individual ownership of gold, period. The 1997 legislation allows for gold coins and bars of 99.5 per cent gold to be included in IRA's rendering them non-taxable while held in those accounts. I don't doubt what you're saying, but if this is true, then American Eagles would not qualify in such IRAs. In fact, most gold coins are around 90% gold, because 100% gold scratches too easily. I know that the Canadian Maple Leaf is 99.9% gold, and it scratches extremely easily. Off hand, I don't know of any other regular-issue gold bullion coins which are close to 99% gold, other than the Maple Leaf. Craig --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
