first majestic silver

Supeme Court Decision

April 20, 2002

Admittedly, it was the Colorado Supreme Court, but it was a 6-0 decision, and legal wags say it will have enormous national significance. To elaborate: It seems as though the federal drug goons raided a place that made amphetamines. In the mess, they found a book that gave instructions as to how to make the stuff, and there was a receipt from the Tattered Cover Book Store.

(The Tattered Cover, in Denver's Cherry Creek area, is one of those truly grand book stores. It is 4 stories, carpeted, has a lounge, and café, and is graced with lounge chairs and sofas so that potential buyers can peruse their choices. It must have millions books of all sizes, shapes, and subject matter on its voluminous shelves. Every town or city needs a "Tattered Cover!" It puts Barnes and Noble to shame.)

So the drug guys went to Tattered Cover, and demanded their records of who purchased the book. 'Go pound sand,' was their reply. 'Our records are protected by the Fourth Amendment, and you can drop dead…twice.' So the drug guys went to court. Lots of courts. They all said, 'nuts to you.' It ended up at the Colorado Supreme Court, which voted 6 to 0, saying 'absolutely not.'

So here we go again, for the "government will take your gold" morons, which tremble in fear, that "confiscation" will take place, even though it never has before, including in 1933. I get tired of writing this, but the myth continues, that (1) government confiscated gold in 1933, and, (2) will do it again, because this time they will have records of who owns it. First of all, in 1933, FDR, the granddaddy of all lousy Presidents, told everyone to turn in their gold, or be fined if they didn't. As soon as most probably did, he raised the price by close to 50% and stole billions from those who voted for him, and followed his threats. Those that didn't, couldn't be found, as gold was a common coin then, and there were no records of who had it. Today's similarity goes with Tattered Cover's fight, which they won handily. Suppose the fed decides it needs gold, after pooh poohing it for decades, which is highly unlikely, and tells everyone to turn theirs in. If they try to confiscate my coded records as to who has it, I'll run my 4 X 6 cards through the shredder instantly. Even if I didn't, they wouldn't have a leg to stand on, according to the Colorado Supreme Court, which state I am a resident of, thank you. Remember, the Colorado Court has its share of cry-baby liberals in it, just as does the Supremes in DC, and even they realized the Fourth Amendment does still operate. Records are of who bought what, are private, secret, and not government's business.

Next, why would they want gold anyway? Their paper sham has operated wonderfully for many decades, and the presses roll merrily on and on, 7/24. In Germany, no one ever thought of shutting them down, and in no other place in history, have they ever shut them down. Last week, on PBS, there was a 2 hour show on economics and inflation. It was very typical, liberal, PBS. All the economists with Phd's (piled higher and deeper) were expounding, and analyzing what happened in just about every country that had runaway inflation. Not one ever said anything about proliferation of currencies, or "Stott's Law," which says that, "The more of anything there is, the less they will be worth." The gurus spoke about spending more than was taken in, government waste, and everything BUT printing box cars full of currencies that were backed by nothing. No one ever mentioned that governments had created 'money' out of nothing, and that it felt so wonderful, they continued, until it always became worthless.

Governments are, in 100% of cases in history, far too proud and ignorant, to ever realize that what they 'have always done,' may be stupid. If governments had any sense, and they don't, they might do any of hundreds of things to make themselves appear smart. They might currently realize why the Arabs don't like us. They simply don't want us in their "holy lands," pure and simple. They don't care bout our fake prosperity, or Christianity. They just want us to take our troops out of their lands, and stop supporting their enemy, Israel. The Swiss don't get bombed. Government is far too imbecilic, to realize that, so we get further enmeshed in a world gone mad, and do more of what makes them hate us. Government continues to make tax law (1.5 million words, twice that of the Bible) more and more indecipherable and oppressive, so that more and more bow out…supposedly 57 million now. Washington DC is full of know-nothings, fools, hangers on, opportunists, and power mad, gaseous, sophomoric, puerile, gasbags, who wouldn't know an ounce of gold from a thimble-full of copper filings. They care about prolonging their terms and jobs, period. This is why readers of Gold Eagle buy and hold gold and silver. They are ever so much smarter than the rumble-bumble whistle brains that supposedly govern us.

Those that fear the halfwits in DC will "confiscate" their gold, are simply worry warts, and I am tired of wasting valuable space on Gold Eagle to assuage their simplistic fears. Would they "confiscate" your antique auto, that is worth a hundred times what you paid for it? Would they "confiscate" your Tiffany lamp, which you bought at a yard sale for $10, and you have discovered is worth $10,000, by watching Antiques Roadshow? Would they "confiscate" the rare stamp your grandfather left you, which has a price on it of one cent, but is worth $1,000? Get a life! If you think the drones of DC will "confiscate" your gold, then don't buy it. Keep your 1.5% interest CD and pay income tax in it. Buy overpriced platinum maybe, and wait for it to fall, so you can cry some more.

Do not, however, fall for the numismatic BS, that only numismatic coins will never be "confiscated." All US gold eagles and silver eagles are officially, by law, NUMISMATIC. And if you think those poor souls who inhabit those cubicles and bother everyone with their pleadings to buy this nifty Double Eagle for $695, when it is worth $325, don't have records of who they sell to, you are inhaling funny water much too often. (A double eagle has .9675 ounce of gold in it, has been counterfeited hundreds of thousands of times in communist lands, and is an extremely poor "investment!") I have two friends, who tell me constantly that I should get into where the "real money is," and that is rare coins that you can mark up 50%, and fool the hell out of the unsuspecting. "Hey Don, your 1.5% is peanuts. Take my word for it, you are missing the boat," is an exact quote from Mike Z. who I still consider a friend. He buys bullion from me when his clients demand it, and he even marks that up a lot. The world is full of fools, who spend their currencies foolishly. Note: I still do not call dollars, "money."

And just to amuse you, the cartoon wasn't included in last week's piece on the Wiz, but it bears scrutiny. We are living in a world gone amok, and you need to protect yourself, because no one else will. Government may supposedly be here to protect you, but it never has, and never will. It protects itself. You aren't profitable. Governing and harassing you, is. Government creates "money" out of nothing, so why should it want your valuable things, which are anathema to government philosophy?

(I have a huge collection of editorial cartoons, which I dearly love. On "Don's Column" on my website, I am going to run a lot of them, so if you love the artistry of the late Jeff MacNelly, Oliphant, and others, check the spot out)

A one-ounce gold nugget is rarer than a five-carat diamond.
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