The late Burt Blumert demystifies the process in a pre-financial market/housing bubble collapse podcast.
Showing posts with label gold. Show all posts
Showing posts with label gold. Show all posts
Monday, August 22, 2011
Monday, August 15, 2011
Friday, July 1, 2011
Sunday, October 24, 2010
Thursday, September 30, 2010
Monday, January 4, 2010
Thursday, December 31, 2009
Saturday, August 16, 2008
Remembering the great gold heist of '33
by Thomas E. Woods
It's been 75 years since the federal government, on the spurious grounds of fighting the Great Depression, ordered the confiscation of all monetary gold from Americans, permitting trivial amounts for ornamental or industrial use. This happens to be one of the episodes Kevin Gutzman and I describe in detail in our new book, Who Killed the Constitution? The Fate of American Liberty from World War I to George W. Bush. From the point of view of the typical American classroom, on the other hand, the incident may as well not have occurred.
A key piece of legislation in this story is the Emergency Banking Act of 1933, which Congress passed on March 9 without having read it and after only the most trivial debate. House Minority Leader Bertrand H. Snell (R-NY) generously conceded that it was "entirely out of the ordinary" to pass legislation that "is not even in print at the time it is offered." He urged his colleagues to pass it all the same: "The house is burning down, and the President of the United States says this is the way to put out the fire. [Applause.] And to me at this time there is only one answer to this question, and that is to give the President what he demands and says is necessary to meet the situation."
Among other things, the act retroactively approved the president's closing of private banks throughout the country for several days the previous week, an act for which he had not bothered to provide a legal justification. It gave the secretary of the Treasury the power to require all individuals and corporations to hand over all their gold coin, gold bullion, or gold certificates if in his judgment "such action is necessary to protect the currency system of the United States."
For more on this commentary, go to The Ludwig von Mises Institute
It's been 75 years since the federal government, on the spurious grounds of fighting the Great Depression, ordered the confiscation of all monetary gold from Americans, permitting trivial amounts for ornamental or industrial use. This happens to be one of the episodes Kevin Gutzman and I describe in detail in our new book, Who Killed the Constitution? The Fate of American Liberty from World War I to George W. Bush. From the point of view of the typical American classroom, on the other hand, the incident may as well not have occurred.
A key piece of legislation in this story is the Emergency Banking Act of 1933, which Congress passed on March 9 without having read it and after only the most trivial debate. House Minority Leader Bertrand H. Snell (R-NY) generously conceded that it was "entirely out of the ordinary" to pass legislation that "is not even in print at the time it is offered." He urged his colleagues to pass it all the same: "The house is burning down, and the President of the United States says this is the way to put out the fire. [Applause.] And to me at this time there is only one answer to this question, and that is to give the President what he demands and says is necessary to meet the situation."
Among other things, the act retroactively approved the president's closing of private banks throughout the country for several days the previous week, an act for which he had not bothered to provide a legal justification. It gave the secretary of the Treasury the power to require all individuals and corporations to hand over all their gold coin, gold bullion, or gold certificates if in his judgment "such action is necessary to protect the currency system of the United States."
For more on this commentary, go to The Ludwig von Mises Institute
Monday, July 28, 2008
Burton S. Blumert on buying gold and silver
The latest installment in "The Lew Rockwell Show" in now available, and, like the prior four, couldn't have come at a better time. Podcast number five is an interview with Burton S. Blumert, president of The Center for Libertarian Studies and publisher of LewRockwell.com, on the subject of buying gold and silver.
As the federal government is bailing out both the housing and banking industries pushing the American economy closer to recession, Blumert compressess his 50 years of experience in the precious metals industry into this 16-minute interview.
Thursday, July 17, 2008
The IRS v. Robert Kahre
Las Vegas businessman Robert Kahre, along with his attorney, William A. Cohan, talk with Steve Murphy of "Insider Exclusive" about his battle with the IRS to pay his employees in gold and silver coin. This interview includes footage of FBI and IRS agents raiding Kahre's business in May 2003. According to Cohan and Kahre, agents attempted to destroy these videos and lied about it in court documents.
Nevada businessman stands up to IRS on issue of paying employees in gold
Las Vegas, Nev. - On a 106-degree May afternoon in 2003, government agents raided several establishments belonging to Southern Nevada businessman Robert “Bobby” Kahre. With guns drawn, officials held more than 20 handcuffed workers in the sun without water as agents collected records and other materials.
Kahre hadn’t committed a crime. He had upset the Internal Revenue Service by paying his workers based on the face value of gold and silver coins, versus the market value in the Federal Reserve system (the value of the coins in U.S. paper dollars). Even though the coins were in circulation, displayed a face value, and were regulated by Congress, the IRS’s confusing and endless tax code did not determine how to handle these gold and silver coins if used for payroll. The tax code only references dollars. It does not distinguish between coined money and paper money.
For more on this story, go to Liberty Watch
Photo: Las Vegas attorney Joel Hanson, who served on the Kahre defense team.
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