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April 16, 2010
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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:
Memories, that simple song was sang by the Brits 365 days of the year .
If you live in the Texas Panhandle, it's not too often that you get to sing that song, right, Mike?
Hope you've dried out by now.
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