Bump to read later; thanks.
Posted on 02/28/2009 1:23:00 PM PST by wolfcreek
"Worst of all, the power which Congress delegated to the President enabled him to make criminals out of honest American citizens whose crime would consist only of trying to protect themselves from official debasement of their money. In more fundamental terms, Americans henceforth would be "under the gun" for exercising a fundamental, inalienable right: the right to deal with their own property as they saw fit. Gold, no matter what its special characteristics, is, after all, just another form of property."
(Excerpt) Read more at users.rcn.com ...
Like I said, I’m not an expert in this subject.
What I see is Communism at work then and now. Property rights were stolen.
“except for barter items.”
Even seen Mad Max?
read later
Agreed, but I personally don’t think gold had much to do with it. The reason FDR banned the private ownership of gold was that gold was the source of money those days since we were on the gold standard, and he wanted to use every bit of the nation’s gold supply he could get his hands on to increase the base for the issuance of paper money. We were in a sustained deflation, and increasing the supply of money was the way to get out. Since we were on the gold standard, there was no way to do it other than for the government to take control of all the gold it could lay its hands on. In retrospect, a better way to handle the matter would have been just to print more money, but the philosophy of the age was against that.
Bump to read later; thanks.
You could be correct.
At least 2 links I know of, have disappeared.
bumpforl8r
I don’t know what the motive would have been, though, other than what Roosevelt said it was. There would have been no reason for the government to own all the gold but the reason they gave. On the other hand, their strategy ultimately did not work. They still did not increase the money supply fast enough, and ultimately, they began to buy silver as well, and even that was not enough.
The biggest mistake that the New Dealers made was in assuming that they could stimulate the economy by manipulate the price structure, particularly the wage structure. It’s pure nonsense. All you do is cause inefficiency. It has no positive macroeconomic effect. To some degree, Obama is making the same mistake.
OMG, that's a long one I'll have to put back for a later read. I presume it discusses yet another in a long list of feral government usurpations???
Keynes wrote:
“Lenin was certainly right, there is no more positive, or subtler, no surer means of overturning the existing basis of society than to debauch the currency ... The process engages all of the hidden forces of economic law on the side of destruction, and does it in a manner that not one man in a million is able to diagnose.”
http://www.modernhistoryproject.org/mhp/ArticleDisplay.php?Article=FinalWarn02-3#Gold
It was Communism at work then, as it is now.
Except that we can own gold now. And we’re more communist than ever.
Galt's Gulch is calling me. I'm done with American'ts.
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