[biff]

Exactly, and FDR took the gold with the stroke of a pen on,IIRC,an executive order. Then he turned around and devalued the gold from $20/oz to $35/oz hence reducing the value of our currency by 40%. So taking our 401K’s is what I call Social Security Mark II.

[ROLF of the HILL COUNTRY]

Maybe I’m not thinking clearly...
If you devalue something, it’s worth less; meaning that it takes fewer dollars/marks/pounds/yen to buy it.

So, gold was REVALUED and the dollar was devalued as a result. Right?

[muawiyah]

The currency had been radically increased in value through massive deflation. Although the money had immense value no one would manufacture/grow/produce anything for sale at any price because it was costing more to make it than you could get by selling it.

That is to say, there was more value in keeping money in your pocket than spending it,or investing it.

The 40% devaluation turned out to be BS. Deflation is such a powerful force that once under way man's piddling efforts to use inflation to fight it are insufficient.

Everything Roosevelt did served only to deepen and extend the Great Depression.

He had the same bad advisors who'd told Hoover what to do, and who are now telling Obama what to do.

[count-your-change]

People forget that part of their 401K is already subject to seizure, 10% unless you follow the rules. If too many people want their money why not raise the seizure percentage to 50% or more? And if the entire account is seized why not calculate the “just compensation” due at a value less taxes and any penalties that would have to be paid on the account?

For example, you have $100,000 in your 401k. Your maximum tax rate is set at 25% plus penalty of 10% and now the “value” of your $100,000 account is $65,000 less interest from the date the seizure order was issued.

So you receive your $65,000 (or less) check of taxable income, and all the “due process” necessary to make it legal.