Interesting. I don’t recall anything about Gold. I know that FDR took us off one of the gold standards, in addition to “confiscating” gold.
IIRC, the gold was turned in for a set amount of Dollars. Then after the final date to convert, FDR devalued the Dollar by at least 35%- immediate real loss in buying power.
The problem with the gold backed currency, is that the foreign countries can demand gold instead of the paper money. So they will pay for the stuff they buy in dollars, but demand that you pay them in gold.
I don’t recall the standard we were using when Nixon was President, but I do recall reading the news articles about gold leaving the country - pictured in money bags with wings.
This can lead to economic instability too. I always advised my investment clients to buy some silver, as an inflation hedge. Cheaper than gold, and with the increased need for silver for industrial purposes, I figure its good for that.
I don’t pretend to know what we should do about our currency and the Fed. I had felt that Obama had likely screwed us so bad, that we were past the point of no return.
If anyone can figure it out, I think it would be the Donald.
LOL! We all would love to have that level of mastery as our beloved Prez Donald!
I’ll do some excavation in my older papers and see if I can run across the info on that gold EO we’re wondering about. Surely I have it stashed somewhere special!