Confiscating Certificates Of Confiscation

By Trace Mayer, GoldSeek

A lawsuit over billions of dollars of unclaimed savings bonds is brewing over whether the Treasury Department or the States should be able to confiscate the minimal remaining value of these certificates of confiscation.  This article will be written from the first person perspective of the victim who has been robbed after investing in these ‘risk-free’ assetsissued by the United States Treasury.

DILIGENT SAVER

In 1965, being a diligent young man my parents rewarded me for graduating from High School by buying me a $75 United States Savings Bond. Following this pattern of savings while I was in the United States Army in 1969 I saved $6.25 per month so that I could buy a $25 dollar savings bond each quarter. Upon hearing the news of unclaimed bonds being confiscated by either the States or the Treasury Department therefore today, October 19, 2009, I cashed in these United States savings bonds. The original face value of these 3 bonds was $125 Dollars. I paid $93.75 for these in the 1960’s.

If I had used gold and silver to buy these same bonds then it would have cost me 2 ounces of gold and 24 ounces of silver.  When I cashed these in today I received $825.11 which consisted of $93.75 in principal and $731.36 of interest.  The value of gold today is a $1,063.90 per ounce and silver is $17.81 per ounce.  Thus the $825.11 dollars represents 47 ounces of silver and no gold.  But that is not all.

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