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Posted on 01/17/2025 7:18:45 AM PST by delta7
QUESTION: I made a bet that a friend was wrong that Roosevelt also confiscated silver. I never heard of that, only gold. He said I should write to you and you will decide who wins.
ANSWER: Sorry, you lose. He must have been at one of my conferences when we discussed that if he told you to ask me. Most people have never heard that Roosevelt also confiscated silver – not just gold. On August 9th, 1934, U.S. President Franklin D. Roosevelt implemented the seizure of all silver situated in the continental United States with Executive Order 6814 – requiring the Delivery of All Silver to the United States for Coinage.
This was the same abuse of executive power as Executive Order 6102, which FDR signed on April 5th, 1933, “forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States” with some differences.
A key difference here with the silver Executive Order 6814 excluded the seizure of all silver coins, whether foreign or domestic. At the same time, Executive Order 6102 only exempted certain types of collectible or numismatic coins from seizure because Teddy Roosevelt had been an ancient coin collector and even J.P. Morgan. Franklin was a stamp collector.
In a famous letter to U.S. Secretary of the Treasury L.M. Shaw, dated December 27, 1904, Teddy Roosevelt stated, “I think the state of our coinage is artistically of atrocious hideousness. Would it be possible, without asking permission of Congress, to employ a man like [Augustus] Saint-Gaudens to give us a coinage which would have some beauty?” He saw the ancient coins as magnificent works of art unprecedented in numismatic history. Teddy saw the ancients as inspiration.
He had the $20 1907 gold struck in high relief with Roman numerals for the day. But modern machines could not handle this type of work. Only 11,250 were struck before being replaced with the flat-relief design with regular Arabic numbers.
There was a shortage of silver because people were also hoarding silver after confiscating the gold. There were no silver dollars minted after 1928. Only when Roosevelt confiscated the silver in 1934 did we see 1934 silver dollars being struck again.
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FDR Was the most destructive POS President by far. We will never fully recover from him.
A pox on both their houses and their parties.............
It was really a Government default.
The government promise that their “dollar” was a certain measure of gold was abrogated.
They also abrogated all debt contracts which specified payment in gold - which in the first part of the 20th century, was common, and of which, there were many
Few people talk about it now, but at the time, it was a huge act of fascism/statism, affecting many people and businesses. The press and Democrats naturally sold it as “making the rich pay their fair share.”
I can’t believe people allowed this to happen.
QUESTION: I made a bet that a friend was wrong that Roosevelt also confiscated silver. I never heard of that, only gold. He said I should write to you and you will decide who wins.It is well-known that Martin Armstrong sends these fake questions to himself and then answers them, mostly trying to sell some of his snake oil. In this case, his conference:
ANSWER: Sorry, you lose. He must have been at one of my conferences when we discussed that if he told you to ask me.Here is the proof that his questions are fake: The Fan Email Confidence Trick
That comment is right on the money...
The emperor that brought true cult-of-personality to the US.
The fact that presidents are featured so prominently on coinage now only reinforces that “Presidents” are to be viewed as near-deities.
One great attribute of Biden is that he didn’t die in office - or his visage would have cursed us on a coin for ages.
The emperor that brought true cult-of-personality to the US.
The fact that presidents are featured so prominently on coinage now only reinforces that “Presidents” are to be viewed as near-deities.
One great attribute of Biden is that he didn’t die in office - or his visage would have cursed us on a coin for ages.
Is that you Texas Gator? …or just the Texas Gator Moneyback disillusioned Armstrong team? Hillarious.
I couldn’t agree more. Teddy was right, our coinage should only have allegorical figures, and be pretty as well!
At least so far we don’t have living persons on the coinage and bank notes.
And likely digital currency (digital money, electronic money or electronic currency) will happen before we ever would.
FDR Was the most destructive POS President by far. We will never fully recover from him.
——————
Johnson ranks up there. He took the Silver out of our coinage in 1964…..and of course don’t forget Nixon who took us off our Gold standard.
The least remembered President, President Ford should be noted for cancelling Roosevelt’s Gold confiscation act, in 1974 he restored the right for Americans to buy and own Gold.
Well, I would be interested in a 20 dollar gold coin with Trump’s mug shot on it.
I must have missed the part where our Constitution gave government that power.
There is room in the metals space for a 1 oz gold round with Trump’s image.
A ‘round’ isn’t a ‘coin’ it looks quite like a government issued coin, but there is no dollar or other unit of money on it, only a weight and purity.
I wouldn’t mind having one m’self...
Agreed. He is the worst president because he abandoned the Constitution and people cheered. He took his oath of office with no intention of keeping it. Utter faithless scum.
breaking squelch, twice.
Gave us a decade long depression that only WW2 ended.
A couple of things. FDR was put on the dime because he was a founder of the March of Dimes, which focused on finding a cure/treatment for polio.
And as a boy, I got to hold one of the high-relief Saint-Gaudens $20 gold pieces in my hand. A friend of my Dad was a serious coin collector and had one. At the time worth thousands of dollars. Now, of course worth much more.
Certainly shows how times have changed. There’s not a person today that would obey that. And by the way, EOs are only for instructing executive agencies how to carry out the law, they are irrelevant to directing private citizens.
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