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US To Trade National Gold Reserves For Cash


US Politics & Gov't  (tags: government, usa, bailouts, politics, money, business, economy, finance, treasury, gold, reserves, onion, funny, satire )

Tom
- 169 days ago - theonion.com
The US government has decided to sell all its gold reserves to raise money to pay for the bailout of the banks, insurance and wall street companies. "We haven't been on the gold standard since 1971, so what do we need all this gold lying around for," said
Comments

Jamie L. (221)
Wednesday July 8, 2009, 4:26 pm
Ummmm... if we sell the gold for cash, it lessens the value of the dollar.... what the heck are they doing....
 

Leigh B. (178)
Wednesday July 8, 2009, 4:28 pm
I'm not surprised, we don't even own ourselves! angrily noted, thanks Tom
 

Tom M. (801)
Wednesday July 8, 2009, 4:36 pm
This is an ONION NEWS NETWORK SATIRE - watch the video, it's FUNNY!
 

little dirt (85)
Wednesday July 8, 2009, 4:44 pm
Tom ...not everyone in the world is familiar with "The Onion", as the comments below show. Two simple suggestions:

1) At the End of Your Headline Label the Story (Satire) -- not everyone reads the fine print.

2) If it's SATIRE, it doesn't belong in this category (unless very CLEARLY labeled). Otherwise it belongs in "Offbeat", which is really where a 'gag' piece belongs anyway...
 

Jamie L. (221)
Wednesday July 8, 2009, 6:06 pm
I forgot the Onion stuff was satire... thanks for reminding me Tom... I feel better now... :)
 

Tom M. (801)
Wednesday July 8, 2009, 6:43 pm
My bad - I was feeling "devilish" ;)
 

Fred Hoekstra (4333)
Wednesday July 8, 2009, 7:27 pm
This is one of the worse decisions that I have seen since Franklin Roosevelt made it illegal for Americans to own Gold. Remember, he told everyone to turn in their Gold? That was when they could have sold it and had more food to feed their families during the Great Depression. Amazing!
 

Fred Hoekstra (4333)
Wednesday July 8, 2009, 7:28 pm
Tom, maybe this was Satire, but Roosevelt calling in the Gold was true.
 

Tom M. (801)
Wednesday July 8, 2009, 8:37 pm
Thanks for all your comments everyone! Fred, you are right, and in 1971 Nixon took us off the gold standard partially "due to the inflationary effects of the Vietnam War". It was easier for the him to just print play money to pay for the war. Now the United States is on a system of fiat money, which is not tied to any other commodity. So these pieces of paper in your pocket are nothing but pieces of paper. As I said, play money.

Satire isn't far from the truth, so it's often hard to distinguish as fake. Remember the Sarah Palin Saturday Night Live skits where the script was almost identical to the actual words she spoke during her interviews?

Between July 1999 and March 2002 the British Government actually did sell 395 tonnes of their gold reserves, at an average price of $280 (£186) per ounce. Unfortunately, since then gold has risen to over $900 (£597) per ounce, sparking outrage among many commentators and the public. Hopefully, the US won't make the same mistake.
 

Fred Hoekstra (4333)
Wednesday July 8, 2009, 9:10 pm
Tom,

I agree entirely!
 

Jackie W. (31)
Wednesday July 8, 2009, 10:39 pm
lol.:-)
 

Mandi T. (267)
Thursday July 9, 2009, 9:30 am
LOL~~Tx Tom~!
 

Michelle M. (83)
Thursday July 9, 2009, 10:18 am
Thanks Tom. I even looked at the video twice to read the headlines under the film, very funy indeed.
 

Mary Neal (184)
Thursday July 9, 2009, 10:54 am
I don't know much about the money system, but I thought a country needed its gold to back up the dollars printed. I thought that was the purpose. If we are "off the gold standard," what standard is in place now?

Did they say who is buying America's gold so that government can pay bail-out money?
 

mary f. (78)
Thursday July 9, 2009, 11:46 am
thanks tomvery funny
 

faith a. (183)
Thursday July 9, 2009, 2:54 pm
yes Mary they did and it is Cash4Gold and I did a little research and after about an hr of online research I tracked the owners down and found it is a limited liability corp. soooo I am giving the article here and sending Tom the rest of what I have found out-- was gonna blog it but decided it would get around faster this way so here is a portion of the articles main points below regarding Cash4Gold .One more thing Our government is making a deal with a corporation that has many legal issues surrounding it and many questions regarding how they do Bz. . They may be legit but it is up for question-This is We the Peoples Gold folks not just governments and they are selling our precious metals and the federal lands to who knows who -this I do know- many of our federal lands have been sold to people from other countries.
website -copy and paste link- if some one is kind enough they will make this a live link
http://www.indianastatenumismatics.org/id36.html
excerpts from article
Cash4Gold is an LLC (Limited Liability Company, which is something like a cross between a corporation and a limited partnership). It’s based in Pompano Beach, at 1701 Blount Road.
As a rule, corporations and LLCs do not make public who their owners are, so, as is true with most LLCs, its background and history is a bit blurry. It was created in April 2007 as Cash4Gold, LLC. Last October it changed its name to Green Bullion Financial Services, LLC, and registered Cash4Gold as a fictitious name.
A slick advertising campaign
Up to that point, few people had heard of the company. But then things changed. Someone decided to wage a slick ad campaign for the company on late night TV, and on the internet. The now financially challenged Ed McMahon, and Stanley Kirk Burrell (whom you probably know better as MC Hammer), were hired as celebrity promoters. A company called Albar Precious Metal Refining, Inc., an Illinois corporation, bought a very expensive ad slot with the Super Bowl. The ad was on behalf of Cash4Gold.
Not many people had heard of that name before the Super Bowl, but that ad, which was telecast around the world, has put Cash4Gold on the map.
Keep in mind that Super Bowl ads are super expensive
According to Reuters, the starting price for a 30 second ad was $3 million.
About five minutes into the amazingly exciting and contentious fourth quarter, there was the ad purchased by Albar Precious Metal Refining, Inc., promoting Cash4Gold.com – and suddenly everyone in the world knew this tiny company.
State records reflect that Albar, Green Bullion, and Cash4Gold are all located at 1701 Blount Road, Suite A, and that the name Cash4Gold belongs to Green Bullion. That raises an interesting question – why did Albar pay for the Cash4Gold ad, when Albar doesn’t seem to have a direct relationship with Cash4Gold – or does it?
Name infringement
There’s another interesting twist – there is already a Jacksonville company which uses the fictitious name Cash 4 Gold (a few spaces added to the name), and that was registered in December 2006, before the Pompano Beach Cash4Gold was created. That means Pompano’s Cash4Gold is using the name illegally,
Green Bullion Financial Services appears to be run by Jeff Aronson, its CEO. Its president is Howard Mofshin.
Interestingly, the Illinois corporation’s CEO is also Jeff Aronson, and its president is also Howard Mofshin. Albar, the Illinois company has a vice president, Jerome Kornbluth. And everyone is located at 1701 Blount Road.


In summary our government has already awarded contracts to albar metals for gold,silver,and platinum,along with Palladium. been done- website

http://www.albarmetals.com/cash4gold.html
click on company news on the left to see government contracts
Cash4Gold apparently is buying up all the precious metals on Earth.
and does not give consumers fair mrkt value in the first transaction so check it out for urself. go to the first website i listed and read up.
Thanx Tom 4 the info
 

faith a. (183)
Thursday July 9, 2009, 2:55 pm
also here is an article 4 the selling of Americas Gold Reserves Cash4Gold offers of 240 Billion
http://www.prfriend.com/pr/2009/07/07/cash-4-gold-offers-240-billion-for-u-s-gold-reserves/
 

faith a. (183)
Saturday July 11, 2009, 6:54 am
Yes I know Onion is satyre however I thought that the contracts that the owners of the Cash4Gold people have with our government were worth noting -also I thought the information here on the shadyness? of Cash4gold's policy was worth speaking about.
 

sue w. (153)
Saturday July 11, 2009, 3:26 pm
It is worth noting Faith and thanks for doing so. While it is Onion this is actually a major concern for us. One one hand I would say "Hush, Tom they might get the idea to do so" but in all reality they are buying all the gold planet wide to enforce the further collapse of the people's monetary resources. The other hand one could say " he who owns the gold will own the planet".
 

Past Member (0)
Saturday July 11, 2009, 4:35 pm
Thank you dearest Tom!
 
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