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Old 06-17-2019, 10:00 AM
vintagetoppsguy vintagetoppsguy is offline
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Today's history lesson

In 1933, just one month after his inauguration, FDR signed Executive Order 6102 which required Americans to surrender their gold to the US Government. Most did, some didn't. Many people refer to this as gold confiscation, but really they compensated folks at $20.67 per troy ounce. Immediately after the EO 6102 The Gold Confiscation Act, err, I mean the surrender period, came the Gold Reserve Act of 1934 where the government raised the price of gold to $35 per troy ounce, basically screwing everybody out of $14.33 per troy ounce. That isn't much today, but it was a lot back then right after the Great Depression. Ever wonder where the gold in Fort Knox came from? That's it. It also made it illegal for citizens to own gold (other than jewelry). Wow! Don't believe me, look it up for yourself. Gold ownership remained illegal until 1974 when Gerald Ford signed legislation to repeal HO 6102.

If the government confiscated private citizen's gold once and made gold ownership illegal, what's to say they couldn't do it again? Or silver too, or any other precious metal? If anybody thinks that couldn't happen in our country today, they are sadly disillusioned. That's another reason I stack silver.
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