"The Fed's top priority is making sure the cards remain stacked against wage and salary earners."

[questionseverything]

25. yea fdr propped it, was just going back to the 1913creation

FDR’s 1933 Gold Confiscation was a Bailout of the Federal Reserve Bank

by Daniel Carr, owner/operator of Moonlight Mint and www.DC-Coin.com



President Franklin Delano Roosevelt’s 1933 executive order outlawing the private ownership of gold in the United States was arguably unconstitutional. But why did he do it ? Many historians and economists point to efforts to get the economy moving again as the reason, the theory being that people were hoarding gold and the velocity of money in circulation needed to be sped up.



But the real reason for the gold confiscation was a bailout of the privately-controlled Federal Reserve Bank. And the evidence has been printed right in front of our faces.





PAPER REPLACES SPECIE



During the 1800s, paper money was suspect in the eyes of many. Nobody would ever choose a government-issue $20 note over a $20 gold coin. Gradually during the late 1800s and early 1900s, confidence in government paper money increased to the point where it was widely accepted. People accepted the money because they felt confident they could exchange it at the US Treasury or any Federal Reserve Bank for gold at any time – it even said so on the notes. Without the gold exchange clauses printed directly on the notes, the public would have been much less likely to accept them. Silver Certificates and United States Notes circulated alongside Gold Certificates, which were legally interchangeable dollar-for-dollar.





THE “FED” AND EASY MONEY



In 1913 the Federal Reserve Bank was established and it began issuing Federal Reserve Notes the following year.

Once free of the restrictions imposed by the limitations of available physical gold for coinage, the quantity of Dollars in circulation increased dramatically. The increase was mostly in the form of paper money, not specie.



The result was an economic “boom”, also known as “The Roaring Twenties” (1923-1929). But like all artificially-induced stimulus, it came to a crash in the fall of 1929. The burden of over-extended credit was the culprit. Prior to the formation of the Federal Reserve, money in circulation consisted of copper, silver, and gold coins, United States Notes, Silver Certificates, and Gold Certificates. All of these were non-interest-bearing, were issued directly by the US Treasury, and did not have any debt associated with their issuance.