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December 14, 2009
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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:
Beej knows he has a good thing going. Besides, he doesn't have a mean bone in his kitty body.
He wasn't so sweet when he crapped in my floor the other day, dunno why he did it, he's only done it once before.
I wasn't so sweet after I stepped in it, either.
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