On April 5 1933, Franklin D. Roosevelt abandoned the gold standard, wielding questionable legal power amidst America’s dire economic depression. His whimsical approach to monetary policy, including coin flips and lucky numbers, unleashed unprecedented inflation and price increases that have since amounted to nearly 2500%. Our guest commentator explores this tragic history and the legacy of enduring economic turmoil that still plagues America today.
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. The order required private citizens, partnerships, associations and corporations to turn in all but small amounts of gold to the Federal Reserve in exchange for $20.67 per ounce.
As we all become more immersed in the silver and gold buying world we see the fear mongering around every corner. “No, the risks…it’s not a safe investment!”…”The government could knock on your door and take it all away tomorrow.”
We all know the FDR story back in the 1930’s where an executive order required all citizen’s gold to be collected at local Federal Reserve branches and then given an artificial price increase. Today the fear lives on as the precious metal world proliferates the executive order’s chance to reappear. There are several reasons why silver and gold have a very small chance of ever being taken from its owners’ hands by the government. Silver above all stands little chance of confiscation. Its industrial use and meek presence in the United States wouldn’t even assist the government with the astronomical debt today. It also wouldn’t be the individuals the government would first target; it’d be the mining companies.
Learn more about the history of the gold confiscation and why, especially silver, and gold are safe in the hands of investors. Aside from that, do you really think FDR’s executive order rid the hands of all Americans?
This video, in the majority of the first half, covers all the reasons why silver, especially, has low odds of ever being confiscated by the Federal Government.
