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December 18, 2007
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![]() ![]() US President Franklin D. Roosevelt Forbids Hoarding of Gold (1933)Executive Order 6102 required US citizens and businesses to turn in all but a small amount of gold to the Federal Reserve in exchange for $20.67 per ounce. It came in the midst of a banking crisis, when the stability of paper currency was in doubt. Consequently, many tried to withdraw their money and redeem it for gold, which was considered safer. However, there simply was not enough gold in the US—or the world—to cover the nation's debts. How many people were prosecuted for violating the order? More... Discuss |
2 comments:
MMM ... no
;)
Aw, c'mon, admit it...you were tappin' your feet while listening to it.
I like this song, it's catchy even if the Hansons had to explain what an "mmmbop" was.
I like the Hansons, at least this song. I wish they'd add the Hanson brothers from the movie "Slap Shot".
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