[ExI] relationships with money, was: RE: extropy-chat Digest, Vol 152, Issue 3

[spike]

From: extropy-chat [mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of Dave Sill
Subject: Re: [ExI] relationships with money, was: RE: extropy-chat Digest, Vol 152, Issue 3

 

On Wed, May 4, 2016 at 8:53 PM, spike <spike66 at att.net <mailto:spike66 at att.net> > wrote:

 

>>…  The Fed may not seize assets, only earnings.

 

>…By "The Fed" you mean "the US government", not the Federal Reserve, I take it.

Ja.

>… Is there something in the constitution preventing seizing property?

There is eminent domain, but that ordinarily applies only to land and buildings.  Wealth can be distributed and protected.

>… Because I'm pretty sure they do that all the time, e.g., via asset forfeiture or when they made private gold ownership illegal with the Gold Reserve Act of 1934. Seems like they can do pretty much whatever they want. -Dave

Ja, so it makes it attractive to store physical gold elsewhere.  I am pretty sure the Chinese are storing a lot of physical gold in the states.  The Federal government’s having seized gold in the past makes it a bit risky, but it the previous seizure did not apply to collectible gold coins.

Our 16th amendment was set up to make taxation by the Fed apply only to earnings.  If they could tax property, they would have a long time ago.

spike

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