Below is the Executive Order that enabled Roosevelt to confiscate gold in 1933. Today the government still maintains that power through, Title 12, Chapter 2, Subchapter IV, Section 95a, which provides in part:“During the time of war, the president may, through any agency that he may designate, and under…Continue reading1933 Executive Order (PDF).
Category: History and Economics
Last month Belarus witnessed the effects of a collapsed currency when the Government cut the rouble’s value against the US dollar by almost half. Previously 3155 roubles would buy a dollar but in the blink of an eye they decided 4930 would be needed. This was not even the…Continue readingWhat are the main causes of currency crises?
Have you heard of Roosevelt’s Emergency Banking Act on April 5th 1933? This was the date on which the American president declared that it was illegal for US citizens to own gold and ordered them to return their coins, lingots and gold certificates to the federal reserve banks before May…Continue readingThe Great Confiscation: Gold ownership was illegal in the USA from 1933 to 1975
The year was 1857 and 2 brothers, Ethan Allen Grosh and Hosea Ballou Grosh are prospecting for gold in the hills of Nevada. The brothers are difficult working mineralogists and sons of a preacher back in Philadelphia who had actually come west along with millions of others when gold…Continue readingShort History of Silver in the US.
Gold has become a topic for living room conversation in the past few years. It is in the news and even forms an undercurrent in political discussions. Not only have many people began buying quantities of gold but some of the talking heads on TV and the Internet have…Continue readingWhat Happened To The Gold Standard?
Gold has always been considered as the most precious metal of all. As a matter of fact, gold has a special place in the heart of the society. Gold is used for various purposes in various places. For example, as being a precious metal, gold is present in works…Continue readingGold as the Most Precious Metal of All