Posted on 08/14/2009 9:02:53 AM PDT by h20skier66
In my previous article you can see the actual executive order in which U.S. citizens lost the right to own gold. From May 1st 1933 until 1971, U.S. citizens could no longer hold gold as a protection against paper money, which also lost its gold backing at the same time.
Foreign central banks could continue to exchange the U.S. dollars that came into their possession [known as Eurodollars for decades] for gold and did so particularly when the $ was devalued and then floated against the gold price in 1971.
Why?
The ‘why' of it all, is critical to our understanding of the global monetary system now! There were two distinct phases to the process that began in 1933.
1. The economic time period was as the great depression was coming to an end in the world. It was a time when Hitler came to power in Germany and that country turned on the growth taps with its war machine driving Germany out of its depression into a resurgence of that country ahead of the Second World War. It became clear to all that monetary turmoil was to continue. More money was needed to start and to fuel growth in the U.S. despite the fact that the traditional way of growing money [against real growth in the economy] would hold the world back for a considerable period of years still. With money tied to gold and the U.S. needing to fuel its money supply it appeared reasonable to increase the government's stock of gold forcefully and dramatically. The first step was this order confiscating gold. All but rare gold coins were handed over to the government under the threat of a $10,000 fine or 10 years in prison. These threats were persuasive enough. U.S. citizens complied in full.
(Excerpt) Read more at commoditynewscenter.com ...
“Hey Mister, I’m hungry, will you buy some of my pretty gold bars? I take Visa or Mastercard.”
Bottom line is, those who have purchased the gold are for the most part the same people who have purchased the guns. So, to the commies in our government, good luck should you try to confiscate either.
There is a lot of discussion over at Kitco about this. People keep some of their stash in Switzerland and other places.
We’re talking about FDR here. What did he care about the constitution or the rule of law?
I don’t think outright confiscation of physical gold will happen. They’ll tax the transactions if they can and when they can as a lot of people invest in but never actually take possession of it. The ‘justification’ presented by FDR is non existent as well. The dollar is pure fiat paper at this point. Everything is being taxed and taken in greater amounts simultaneously.
“U.S. citizens complied in full”
Won’t happen nowadays. A larger percentage of people are more aware and the % that trust the federal gov’t is??????
ping
“There is a lot of discussion over at Kitco about this. People keep some of their stash in Switzerland and other places.”
Like with guns: “If it’s time to bury them, it’s time to dig them up.”
Gold that you don’t have at your disposal you don’t own.
I was recently pleasantly surprised to discover that my Grandmother had very secretively ignored FDR's Executive Order. She otherwise appeared to have thought highly of him but kept some gold Eagles ($10 pieces) just in case. I had no clue that she had them and passed them on to my mother until my Mom passed last year they came into my possession. If they didn't get them in 1933 they sure aren't going to get them now.
They did not get all of my grandparents’ gold, either.
They were from europe and knew better.
Remember the gold coins story froom 2005?
“U.S. Mint Confiscates 10 Rare 1933 Gold Coins
The Washington Post | August 26, 2005 | Washington Post.
http://www.encyclopedia.com/doc/1P2-59898.html
Uncirculated coins.......
Yep. Exactly.
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