It seems there have been a number of scams in order to rip off the public in the past several months. But these scams are 
actually encouraged and promoted. The government even had its hand in one of them.
During the Cash for Clunkers scam, motorists were encouraged by the government and the mainstream media to turn in their older vehicles for up to $4500 cash for the purchase of a new, fuel-efficient car. There were several problems with this deal.
First off, dealerships had to pay the cash out of their own coffers, to be later reimbursed by the government after filling out convoluted paperwork. As of Sept. 11, only 40 percent had been paid back.
Second, it was just unneccesary government spending that created a false spike in the economy. I guess Congres decided to follow the old adage, “You have to spend money to make money.”
Third, it wasn’t worth it for the public. Those who had their cars paid for added to their debt with a new car payment and now have to pay more for insurance. It also created a shortage in cheaper used cars for those who can’t afford a new car, as the old “clunkers” were crushed.
Another scam that the public is being bombarded with daily is the “turn your gold in for cash” tripe. Fly-by-night companies, pawn shops and local jewelry stores are getting in on this deal…which is a deal for them…not you. Earlier this month, the price of gold reached more than $1000 per ounce.
I’m not knocking pawn shop owners. They’ve been hip to this concept for years.
Prior to President Nixon’s action in 1971, the United States currency was measured on the gold standard. At one time, all of the bills floating around were backed up by gold. Not anymore.
The fiat currency we pass off nowdays isn’t worth much more than the paper it’s printed on…if it’s even worth that much. And because of that, the Federal Reserve and the U.S. Treasury can print up billions of dollars, not backed up by anything but the imagination of the government and the bankers, causing massive inflation.
Precious metals have always had value. Paper money isn’t as fortunate. For an example…do you happen to have any left over Confederate currency? Try seeing how many current Federal Reserve Notes you can get for that.
However, hoarding gold isn’t safe from the clutches of the government either. In 1933, President Franklin D. Roosevelt issued an executive order requiring citizens to turn in most of their gold to the Federal Reserve (which, by the way, is a private not government institution) with the threat of a $10,000 fine.
But for now, our gold is safe, if you are/were fortunate enough to own or buy it. Just don’t hand it over for wothless paper.
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