“The Gold Confiscation Of April 5, 1933
From: President of the United States Franklin Delano Roosevelt
To: The United States Congress
Dated: 5 April, 1933
Presidential Executive Order 6102
Forbidding the Hoarding of Gold Coin, Gold Bullion and Gold Certificates By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled
An Act to provide relief in the existing national emergency in banking, and for other purposes~’,
in which amendatory Act Congress declared that a serious emergency exists,
I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section to do hereby prohibit the hoarding gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations and hereby prescribe the following regulations for carrying out the purposes of the order:”
and when the Fed confiscates your gold what you gonna do then ? friend.
“and when the Fed confiscates your gold what you gonna do then ? friend.”
Let ‘em try. Too many people now have gold, and guns.
I don’t think so. Most of the gold are held by central banks, very few by individuals. 1930’s was different. Gold was in US coins and US issued certificates that one can redeem in gold. FDR did not want the gold to leave the US during depression thus he had it removed from money, and individuals who owned it in US coins, certificates or bullion bars had to turn it in for the new dollars we still use today. Since we are off the gold standard, there is no monetary value in confiscating privately owned gold. If we go back to the gold standard, the US currency will be reset. Those in debt will be impoverished, those who hold hard assets will have their wealth preserved.