WASHINGTON, D.C. — President Barack Obama today banned private ownership of more than a quarter ounce of gold, saying the move was necessary to revive the economy. "Wealthy Americans are bailing out on the economy by taking their money out of circulation and hoarding gold," Obama said as he signed an executive order reminiscent of Depression-era President Franklin D. Roosevelt's ban on the possession of gold. "The wealthy are violating their trust and abusing their position by investing in gold," Obama said. "My order will put an immediate end to this practice, which threatens to hijack the good efforts of...
