Gold... History... US... just saying...

[Midway]

"Shortly after taking office sixteen years later, Franklin Delano Roosevelt signed Executive Order 6102 into law, prohibiting the “hoarding” of gold. Under this executive order, Americans were prohibited from owning more than $100 worth of gold coins, and all “hoarders” (i.e. people who owned more than $100 worth of gold) were forced, by law, to sell their “excess” gold to the government at the prevailing price of $20.67 per ounce.
 
Then, once the government had all the gold, FDR revalued the dollar relative to gold so that gold was now worth $35 an ounce. By simple decree, the government had thereby robbed millions of American citizens at a rate of $14.33 per ounce of confiscated gold, which is why most historians agree that the Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States." -- link below

http://www.silvermonthly.com/government-confiscation-gold-happened-beforecould-happen/

http://en.wikipedia.org/wiki/Executive_Order_6102

 

[ZetaNine]

yeah...but he won the war.

"Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States."  Federal Income Tax nothwithstanding.

[gyrene81]

i see we have a replacement for penguin...wonder how long this one will last... 

ok midwacky, who are these mysterious "most historians" and did they all use the word draconian?

[Midway]

i see we have a replacement for penguin...wonder how long this one will last...  

ok midwacky, who are these mysterious "most historians" and did they all use the word draconian?

Ignore those descriptions... it's the executive order that I found interesting.    thought others might too.  

[gyrene81]

did you do any further research or were those 2 links as far as you got?

[Midway]

did you do any further research or were those 2 links as far as you got?

there are many more.  Feel free to research yourself. 

[gyrene81]

no midwaky, you brought it up...one source is a socio-political blog and the other has incomplete information. you should dig deeper to be better informed.  i know, for you it's a stretch but...we all want to see you get beyond your current crap queen status some day.

[Dichotomy]

[ZetaNine]

Journalism 101 is taught here?  ..who woulda thunk

he posted a some links..and offered no personal opinions.....why the need to defend himself?

oh the humanity

[Midway]

no midwaky, you brought it up...one source is a socio-political blog and the other has incomplete information. you should dig deeper to be better informed.  i know, for you it's a stretch but...we all want to see you get beyond your current crap queen status some day.

   Research it yourself.  It's in the historical record.  It happened.  Are you saying it didn't or what?  Just read up on it and tell me if the order was not real and/or was not executed. 

Not sure what point you're trying to make.    I'm just identifying a real order that was implemented and is part of US history.    That's all I'm saying. 

[gyrene81]

Journalism 101 is taught here?  ..who woulda thunk

he posted a some links..and offered no personal opinions.....why the need to defend himself?

oh the humanity

depends on whether the words he posted are his or copy and paste from somewhere...

By simple decree, the government had thereby robbed millions of American citizens at a rate of $14.33 per ounce of confiscated gold, which is why most historians agree that the Gold Confiscation of 1933 is the single most draconian economic act in the history of the United States.

that looks like an opinion not mere fact. if it's not the op's opinion it would have served him better to quote it and post the source it came from...

[ZetaNine]

again... it's a freakin' message board.

what's with the journalistic integrity thing?

[Midway]

depends on whether the words he posted are his or copy and paste from somewhere...

that looks like an opinion not mere fact. if it's not the op's opinion it would have served him better to quote it and post the source it came from...

was a quote (I put it in quotes for you and added reference to link) from the first link...

Here's a quote from the wiki entry, the 2nd link, quoting the NYT at the time:

The order was rationalized on the grounds that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse.[1] The New York Times, on April 6, 1933 p. 16, wrote under the headline "Hoarding of Gold", "The Executive Order issued by the President yesterday amplifies and particularizes his earlier warnings against hoarding. On March 6, taking advantage of a wartime statute that had not been repealed, he forbade the hoarding 'of gold or silver coin or bullion or currency,' under penalty of $10,000 fine or ten years imprisonment or both."

If you want my opinion, it's simple:  Be aware of history as it does have a tendency to repeat itself, on occasion.  Hopefully not in this case, but being aware of it is a good thing.

 

[gyrene81]

again... it's a freakin' message board.

what's with the journalistic integrity thing?

get out of your superman suit and go find something else to do...

[ZetaNine]

midway...sign this and shut up...we gotta tough guy up there who makes fun of mentally retarded kids.


I Midway, hereby agree, that when offering links or opinions, or when I make any salient point whatsoever...I shall...cross reference it and substantiate all historical data in triplicate, with attached ademdums indicating both substantive and qualified similar opinions from known Rhodes scholars.  lastly, I hereby affirm and represent that I shall indicate any and all political and religious affiliations, of myself and all my neighbors....and list how said affiliations bolster my original points and opinions.

the fact is...Irene81..you jumped the gun on midway and asked him to substantiate someone else's opinions...in your zeal to the be content queen