Purchasing Power Of US Dollar Destroyed (But Gold Prices Rise)
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.
Between order #6102 and the Gold Reserve Act of 1934, gold held in Treasury and Federal Reserve Banks skyrocketed!
How about currency? Here is an example of 1928 US currency before Fiat Franklin’s seizure order. Redeemable for gold.
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 Notice that “redeemable in gold” has been replaced by “will pay to the bearer on demand $10,000” … of paper.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!
Look at the purchasing power of the US Dollar since 1933.
In 1971, President Richard Nixon enacted a plan that ended dollar convertibility to gold and implemented wage and price controls, which soon brought an end to the Bretton Woods System.
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.
The second man from the left looks like George Soros.
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