Important! Starting Monday, June 13, 2011, the Paul Drockton Radio Program will Start at 2 PM Pacific, 3 Mountain, 4 Central, 5 Eastern and run for two full hours on Renseradio.com (Click on the Windows Media Player to listen)
The Man Who Wrote Coming Gold Confiscation Act?
STEPHEN M. DAVIS
According to my source, the above individual is one of the attorneys that was involved in the writing of the gold confiscation act legislation I reported in my previous article. There is a Stephen M Davis listed on the membership roster of the Council on Foreign Relations (Source), but I am unable to verify if it is the same individual.
The following is from the website of his current employer:
Steve Davis, a partner in the firm’s Business Law Department, is a member of the Technology Companies Group and the Life Sciences, Securities & Finance, and Clean Technologies Practices. He has extensive experience in several areas of corporate practice with a focus on venture capital, corporate finance and securities, mergers and acquisitions, private equity and corporate counseling. Mr. Davis joined Goodwin Procter in 2008.
WORK FOR CLIENTS
Mr. Davis has represented clients in transactions ranging from start-up financings to billion dollar plus transactions and has counseled companies in diverse industries such as software, Internet infrastructure, applications and services, telecommunications, wireless technologies, biotech, medical devices, energy and clean tech, manufacturing, investment management and investment banking. He has also represented issuers, investors and underwriters in numerous initial public offerings, secondary offerings, PIPEs offerings, spin-off transactions, joint ventures and other strategic alliances and mergers and acquisitions.
Mr. Davis is a member of the American Bar Association and the New York State Bar Association (Committee on Securities Regulation). In addition, he acts as outside general counsel and board advisor to numerous public and private companies.
Mr. Davis is a frequent speaker and panelist at industry and legal conferences, and has written for and been quoted in various publications. He is the author of “Governments Fund Technology Ventures in Homeland Security,” New York Law Journal (2003); “Protecting the Private Equity Investment Without Killing the Golden Goose,” International Financial Law Review (2003); and “How to Survive a Down Round,” The Private Equity Analyst Guide to Venture Capital and Private Equity Attorneys (2002).
Prior to joining Goodwin Procter, Mr. Davis was a shareholder in the New York office of Heller Ehrman, where he was co-chair of its corporate/venture law practice and chair of its New York business law practice. (Source)
Now to answer a few critics:
"Maybe Drockton wants to scare all the gold owners so they'll sell and he can buy it cheaper."
This is a gem from some moron that doesn't understand that market forces, not Paul Drockton, determine the value of gold. She has me confused with J.P. Morgan and the Rothschilds. Also, I have been recommending silver over gold for the last year. Yes, my business is bullion, and I understand it better than anyone else, which is why I can write about it with authority.
"The confiscation of 1933 was possible because most people kept their gold in deposit at the bank and used paper money redeemable for gold for transactions. So when they confiscated, they just got it from the banks and the banks no longer had to redeem for gold - they redeemed for Federal Reserve notes."
This is known as just making things up. No links were provided for the above assertions. So, just a lesson in common sense. 1932 was the year of the largest number of bank collapses in US history. People lost everything to banks that went under, including what was in their safety deposit boxes. Their was no FDIC back then. In 1933, people kept their gold coins in their physical possession or stuffed in their mattresses, buried in their back yards, etc. They could not use their gold coins for commerce and that is why they surrendered them.
Unlike the above genius, I have actually studied the history of this thing.
"the general population and those with gold in particular will give that the one finger salute. If they actually went to the ridiculous and did try to confiscate, all that would do is cause a boom in shovel sales, ammo sales, and yes, I think blood would be spilled if they tried it."
Now that's faith in the good old fashioned American public....who have demonstrated that they are willing to endure whatever the government has to dish out, like airport fondling of their little kids at the airport. When you purchase gold, the dealer has to keep a log of all sales that are to be made available for inspection to the government upon request. Anyone that has bought gold knows that this is a fact.