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 order. But confiscation is probably not the best word for what happened in practice.
Yesterday (April 5) was the anniversary of a dark day in US economic history.
On April 5, 1933, President Franklin D. Roosevelt issued EO-6102. It was the beginning of the end for the gold standard.
