Truth is Stranger than Fiction

May21

We Buy Broken Gold

By Clancy Martin


From the article:

My Uncle Pat claims the Martin family fortune has its origins in a World War I gold scam. I won’t apologize for this because I never saw a nickel of the family money. It was squandered by my father on Florida real-estate deals and my other uncle’s failed plan to buy a majority stake in Hudson’s Bay Company, Canada’s chain of department stores. After the scheme collapsed, this uncle died suddenly, though he somehow left a sizable chunk of money to his family. My Winnipeg cousins thus grew up rich: one of them raised Arabian horses and another was briefly Canadian ambassador to Thailand. I grew up in a rented three-bedroom house on a lower-middle-class street near the river in Calgary, Alberta, one of ten kids: my mother had divorced my father and, with the common sense characteristic of the family, married a man with seven children of his own and a failing business.

This story is so fascinating that you might almost forget that it’s about how people get scammed selling their gold. And that’s the point of it. Though I do love a good story teller.

Me? I tend to stay away from anything questionable that I’m sure…I don’t understand. That, and I have trust issues, lol.

http://www.laphamsquarterly.org/swindle-fraud/we-buy-broken-gold

By Executive Order

December22

The Roosevelt Gold “Confiscation” of 1933


From the article:

Using the rationale that hoarding of gold was hurting the depression economy, President Franklin D. Roosevelt signed Executive Order 6102 prohibiting private ownership of gold. Signed in April, it required citizens to redeem their gold coinage at banks by May 1, where they would receive paper currency in exchange. A $20 double-eagle gold coin would fetch a $20 Federal Reserve Note. (This was because gold was trading at $20.67 per Troy ounce, and a double-eagle contained .9675 Troy ounces of gold.)

The penalty for not redeeming gold coins was severe – 10 years in prison and/or a $10,000 fine.

http://bullion.nwtmint.com/blog/gold-bullion/the-roosevelt-gold-%E2%80%9Cconfiscation%E2%80%9D-of-1933/

Learn Something New Every Day

December22

What Was The Gold Standard?


From the article:

My normally extensive Economics Glossary does not have an entry on the gold standard, so we’ll have to look elsewhere for a definition. An extensive essay on the gold standard on The Encyclopedia of Economics and Liberty

defines the gold standard as “a commitment by participating countries to fix the prices of their domestic currencies in terms of a specified amount of gold.

http://economics.about.com/cs/money/a/gold_standard.htm

Gold ~ Who Really Owns It?

April20

The Secret World Of Gold

From the article:

The following documentary moves from historical shipwrecks to Nazi ‘death gold’ and England’s war chest to recent years where widespread economic uncertainty has given the yellow metal a “new luster in the world of high finance.”  Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold…

I Timothy 6:10

For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

http://www.zerohedge.com/news/2014-04-19/secret-world-gold