Home Economics Economic Roundtable Roosevelt and Gold Robbery

Roosevelt and Gold Robbery

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MoneyMan · in Economic Roundtable 1 comment 115 readers
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MoneyMan
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Roosevelt and Gold Robbery

Roosevelt and Gold Robbery

Roosevelt stole all US citizens' savings in January 1934 with one simple trick.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 4...

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rockfleece
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He is always revered by history books but they never dive into how much this act screwed the citizens!

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