FDR’s 1933 Gold Confiscation–Bailout of Federal Reserve Bank

FDR’s 1933 Gold Confiscation was a Bailout of the Federal Reserve Bank    -D. Carr

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 (precious metals)

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.

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 (paper) Dollars in circulation increased dramatically.            -Daniel Carr     http://www.moonlightmint.com/bailout.htm

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(Can that go on forever?  Of course not, but greed–by big government, central banker, corporate–an and does grow dramatically as long as the people don’t mind being beggared and ripped to bits in many other non-economic ways as well, including via the media’s endless lies/rationalizations of paper money, all due at root to money’s influence on people’s psyches.  The love of money being the root, says the proverb.          -r, mt. shasta)    Since 1975 gold can be publicly owned, but it does not circulate nor do silver or even copper.  Know why?

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  1.   “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”   – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)  thomas

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2)   “I believe that banking institutions are more dangerous to our liberties than standing armies.”   –Thomas Jefferson

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3)     “The modern theory of the perpetuation of debt has drenched the earth with blood and crushed its inhabitants under burdens ever accumulating.”     -Thomas Jefferson

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4)       “If Congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.”     -Andrew Jackson

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Abraham Lincoln

5)  “The Government should create, issue and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers.  By the adoption of these principles, the taxpayers will be saved immense sums of interest.  Money will cease to be master and become the servant of humanity.”     -Abraham Lincoln

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6)    “The bank hath benefit of interest on all moneys which it creates out of nothing (or out of monopolization of finance!  -r).”         -William Paterson, founder of the Bank of England in 1694, then a privately owned bank, but soon becoming England’s central bank (monopoly)

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7)   “Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal–that there is no human relation between master and slave.”                -Leo Tolstoy, Russian writer

http://www.themoneymasters.com/the-money-masters/famous-quotations-on-banking/

 

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