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Oculus Spirit [97741]
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Interesting bit of economic history I never knew. Likewise, also not surprised.
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Jan 18, 2024, 10:52 AM
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Was watching Pawn Stars last night in bed. PAWN stars, don't even.....
Anyway, baldy mentioned that FDR confiscated a majority of the gold in the US to devalue the dollar, allowing the Federal Reserve to issue more paper money to boost the economy. I've lamented many times on how we use "free trade", globalism, and illegal domestic labor today to devalue dollars that are no longer tied to gold. BUT, back in the day, we still hatched an economic scheme even when the dollar was based on gold, to devalue the dollar as that is the economic goal, always.
FDR stated the reason for confiscating gold was because it was being hoarded in the depression. In reality he wanted less gold available so the government could set the gold/dollar rate to devalue the dollar, to make more of then, to boost the economy.
Just found this interesting.
https://en.wikipedia.org/wiki/Executive_Order_6102#:~:text=Executive%20Order%206102%20required%20all,in%202022)%20per%20troy%20ounce.
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Heisman Winner [135993]
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All that gold didn't walk into Fort Knox on it's own
Jan 18, 2024, 11:07 AM
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that was interesting
Message was edited by: cu85tiger®
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Oculus Spirit [81078]
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I don't think there is gold in in fort knox.
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Jan 18, 2024, 11:29 AM
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I think its traded between countries underneath the streets of the NY Fed. That's not really conspiracy nonsense..it actually makes sense when you dive into it.
Sturgill thinks its all in Beverly Hills, California:
https://www.youtube.com/watch?v=guic_yHIOvI
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Oculus Spirit [97741]
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Wonder how well this would work today? Gold and guns
Jan 18, 2024, 12:03 PM
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Confiscate either and it's a war-starter for sure.
I mean imagine Biden, Trump, whoever signing some executive order demanding I give up my gold, or guns, or whatever else.
No way that happens.
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Oculus Spirit [81078]
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Nope; we're way too divided and selfish.
Jan 18, 2024, 12:14 PM
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Aliens could be decimating cities and the only way we could fight them would be to throw gold at them...and folks wouldn't hold on to it until they were vaporized.
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Hall of Famer [22948]
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Oculus Spirit [81078]
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Yep, He traded gold for worthless paper***
Jan 18, 2024, 11:25 AM
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Hall of Famer [21940]
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I mean at least ask the man
Jan 18, 2024, 3:15 PM
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bengaline - how pissed were you when FDR came and made the family turn in your gold?
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Heisman Winner [119741]
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My family was dirt poor, dad only had 8th grade education
Jan 18, 2024, 6:10 PM
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Worked his *ss off to give us what he could.
dawghater23 trying to figure out, are you trying to be an *ss?
Not sure cause there are others in here older than me.
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Hall of Famer [21940]
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Yessir
Jan 19, 2024, 9:07 AM
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Giving you #### for being old.
All good man, I know you're not the oldest
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