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Franklin D. Roosevelt’s Gold Heist
Franklin D. Roosevelt’s Gold Heist Yesterday (April 5) marked the anniversary 0f the signing of Executive Order 6102 by President Franklin D. Roosevelt. It was touted as a measure to stop gold hoarding, but it was in reality, an attempt to remove gold from public hands. Many people refer to EO-6102 as a gold confiscation […]
The Great Gold Robbery of 1933
The Great Gold Robbery of 1933 It’s been 75 years since the federal government, on the spurious grounds of fighting the Great Depression, ordered the confiscation of all monetary gold from Americans, permitting trivial amounts for ornamental or industrial use. This happens to be one of the episodes Kevin Gutzman and I describe in detail […]
Land of the “Free”: Stashing Gold May be Illegal Soon
LAND OF THE “FREE”: STASHING GOLD MAY BE ILLEGAL SOON According to one hedge-fund manager, known for his “doom and gloom” economic outlooks, the federal government may soon make stashing gold away illegal for individuals. Crispen Odey believes that governments will ban the possession of gold if they lose control of inflation of their fiat […]
The Great Government Gold Heist of 1933
The Great Government Gold Heist of 1933 Yesterday marked the anniversary of the great government gold heist of 1933 ordered by President Franklin D. Roosevelt. On April 5, 1933, the president signed Executive Order 6102. It was touted as a measure to stop gold hoarding, but it was in reality, a massive gold confiscation scheme. […]
“We Have Never Seen This Before”: The Last Time The Market Did This, FDR Confiscated All The Gold
“We Have Never Seen This Before”: The Last Time The Market Did This, FDR Confiscated All The Gold To say that moves in the US stock market have been erratic in the past two weeks would be a prodigious understatement: with the Dow Jones swinging by over 1,000 points on nearly 5 occasions in the […]
Learning from America’s Forgotten Default
Bettmann/Getty Images Learning from America’s Forgotten Default One of the most pervasive myths about the United States is that the federal government has never defaulted on its debts. There’s just one problem: it’s not true, and while few people remember the “gold clause cases” of the 1930s, that episode holds valuable lessons for leaders today. […]
The US Two-Tier Monetary System that Ended in 1971
The US Two-Tier Monetary System that Ended in 1971 QUESTION: You said the US had a two-tier monetary system under Bretton Woods. Can you explain that one, please? DHJ ANSWER: When Roosevelt confiscated gold, he created, in reality, a two-tier monetary system quite frankly as the medieval city of Florence. The Great Financial Panic of 1344 […]
Will They Confiscate Gold Again?
Will They Confiscate Gold Again? QUESTION: Hello Marty, Is it your belief that they will (again) try to confiscate gold bullion coins when the going gets rough? If so, is there an alternative that you would recommend? Many thanks for you great work. k ANSWER:I do not believe they will confiscate gold for there is no […]
India’s Failing Gold Monetization Scheme: Seizure Imminent?
India’s Failing Gold Monetization Scheme: Seizure Imminent? India’s newest gold monetization scheme has been a colossal failure. After one month, it has netted only one kilogram (2.2 pounds avoirdupois) out of an estimated 20,000 tonnes (44 million pounds avdp) of privately-held gold. Why is that? Well, let’s look at how the program works. Gold-holders turn their gold over to a bank. […]
Indians Urged To Give Up Their “Idle Gold” For The Good Of The Nation
Indians Urged To Give Up Their “Idle Gold” For The Good Of The Nation One month ago, when reviewing India’s ploy to monetize the thousands of tons of gold held by the broader population through the issuance of “gold-backed bonds” (which would need to offer a rate of interest greater than inflation to be attractive […]
Is This The Start Of India’s Gold Confiscation
Is This The Start Of India’s Gold Confiscation On April 5, 1933, FDR signed Executive order 6102 which made illegal “the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States” in the process criminalizing the possession of monetary gold by any individual or corporation. This was de facto gold confiscation; […]
Will Uncle Sam Confiscate Gold Again?
Will Uncle Sam Confiscate Gold Again? Investors suffered financial losses in recent weeks as stocks globally came under pressure in August and had their worst month in the last three years. In one of the most volatile trading periods since the global financial crisis, August saw a massive $5.7 trillion erased from the value of stocks […]
