[OT] why was private gold ownership made illegal in the US?

[Harmon Seaver]

On Thu, Jul 04, 2002 at 04:42:46PM -0700, Tim May wrote:
> 
> >I've tried to learn a bit about coin collecting but I find myself
> >hesitant to plunge right into it. It's just like any other "investment",
> >subject to bubbles, busts and shady operators. I don't know enough to
> >feel comfortable with it.
> 
> Sounds like you shouldn't do it, then. Which would be wise on your part, 
> in my opinion.
> 
   Investing in anything with a non-intrinsic value, i.e., art, coins, antiques,
stocks, etc., is possibly worthwhile in good times, money can be made. The
collection can become almost worthless overnight, however, and even
life-threatening, say, should the situation become so dangerous that flight is
the best chance, but one can't bear to leave the fortune in antique furniture. A
collection of rare antique Colts might be quite pleasurable (and profitable) to
own, but cases of AK-47s hidden away in a remote bunker a better investment.
    If whatever you invest in depends upon a goodly supply of well-to-do buyers
to maintain it's worth, you could become destitute overnight. Or, as the
Fabulous Furry Freak Brothers always said, "Dope will get you thru times of no
money better than money will get you thru times of no dope."

-- 
Harmon Seaver	
CyberShamanix
http://www.cybershamanix.com