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“Fiat Franklin” D. Roosevelt Signed Gold Seizure Order In 1933, Purchasing Power Of US Dollar Destroyed (But Gold Prices Rise)

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

In 1933, President Franklin Delano Roosevelt (aka, “Fiat Franklin”) signed an exective order #6102 confiscating gold coin, bullion and certficates owned by private citizens. Why? So the Federal government could print and spend almost without constraint.

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Between order #6102 and the Gold Reserve Act of 1934, gold held in Treasury and Federal Reserve Banks skyrocketed!

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How about currency? Here is an example of 1928 US currency before Fiat Franklin’s seizure order. Redeemable for gold.

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Now here is an example of a post-1933 US currency (1934). Notice that “redeemable in gold” has been replaced by “will pay to the bearer on demand $10,000” … of paper. This is Fiat Franklin’s paper revolution!

1024px-10000_USD_note;_series_of_1934;_obverse

Look at the purchasing power of the US Dollar since 1933.

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Where was the US Supreme Court about Fiat Frankin’s seeming illegal executive order? The constitutionality of #6102 and the Gold Reserve Act of 1934 were ultimately upheld by the Supreme Court.

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The second man from the left looks like George Soros. Wouldn’t surprise me a bit!

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Speaking of printing money, this one is courtesy of Jesse’s Cafe Americain!

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Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.

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