"Uncle Joe's" buddy Roosevelt stole the gold from the American people, or those who weren't smart enough to stash it.
My parents told me that the government outlawed gold ownership, though I vividly remember during the 60's that you could buy "investment" grade gold coins even through mail order catalogues.
In any case, though I obviously love gold for its inherent charm and beauty (it's even more attractive than Martha Stewart!), I nevertheless fear the long arm of the government in matters relating to gold ownership. What difference does the price of an ounce of gold really matter, if you are outlawed (by government whim), from owning it in the first place?