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Roosevelt and Gold Robbery
Historical Awareness

Roosevelt and Gold Robbery

The Gold Reserve Act handed all gold held by the Federal Reserve to the Treasury, then let Roosevelt reprice gold from $20.67 to $35 per ounce by executive proclamation. That single move cut the dollar's gold content by 41%. Every dollar you held lost 41% of its backing overnight.

MoneyMan
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Bank of England
Historical Awareness

Bank of England

The Bank of England was born in 1694 to fund a war. William III needed £1.2 million to fight Louis XIV, Parliament wouldn't raise the taxes, and a group of London merchants solved the problem by creating money from nothing.

MoneyMan
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