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Posted - 11/01/2006 : 07:39:28
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THE GAME OF TELEPHONE
Amazing how stuff gets passed around on the Internet from place to place...
(The law was repealed in 1982.)
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8:12p ET Tuesday, January 4, 2005
Dear Friend of GATA and Gold:
In a letter released today in response to an inquiry from GATA, the U.S. Treasury Department declared that it has no statutory authority to confiscate gold.
GATA made the inquiry last fall through the office of U.S. Rep. John B. Larson, Democrat of Connecticut, co-sponsor with U.S. Rep. Ron Paul, Republican of Texas, of legislation to require the Treasury Department to obtain the approval of Congress before intervening in the gold market.
GATA's inquiry was prompted by enduring fears and rumors among gold investors about the legal security of their gold, prompted in part by the U.S. government's attempt in 1933 to confiscate monetary gold by presidential decree.
The Treasury Department's letter was dated December 17 and was received today by Representative Larson's office. The letter was signed by Roberta K. McInerney, the department's assistant general counsel, and addressed to Michael Kirk, Representative Larson's press secretary. The letter reads as follows:
"Dear Mr. Kirk:
"I am writing in response to your e-mail of November 29, 2004, which forwarded a question from a constituent of Congressman Larson's as to whether the Treasury Department could force the redemption of U.S. gold bullion coins at face value, or the surrender of foreign bullion coins.
"In Public Law 97-258 (Sept. 13, 1982), Congress eliminated a statute (12 USC 248 n) which had allowed the secretary of the Treasury to require individuals and others to deliver to the Treasury gold coins, bullion, and certificates. As a result, this statutory authority no longer exists.
"I hope this information is helpful. Please let us know if you have further questions or need additional information.
"Roberta K. McInerney "Assistant General Counsel "(Banking and Finance) "Department of the Treasury "Washington, D.C. 20220"
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.
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Edited by - n/a on 11/01/2006 23:55:22 |
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Posted - 11/01/2006 : 17:21:21
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Can you point us towards the original letter? |
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Posted - 11/01/2006 : 20:26:06
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I don't need to worry about confiscation. I sold all my silver today at $12.25. I'll rebuy it if and when it hits $4.00. I strongly suggest you all do the same. Let us know when you sell.
The above post is intended for entertainment purposes only and in no way reflect the opinions of the flesh and blood person writing the text. All writings under the screen name "copperhead" are merely a characterization of the personna created. |
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