![Understanding Roosevelt's 1933 Gold confiscation [Video]](https://i.headtopics.com/images/2024/5/17/fxstreetnews/understanding-roosevelt-s-1933-gold-confiscation-v-understanding-roosevelt-s-1933-gold-confiscation-v-7D856954B3D0851C5E0330CEA9CFE80A.webp)
In this episode of the Money Metals Midweek Memo, host Mike Maharrey delves into the topic of Franklin D.
Roosevelt's gold confiscation during the Great Depression, framed within a broader discussion of government power and individual compliance. Personal anecdotes and government compliance Maharrey begins by relating his own childhood obedience to his mother's rules, using this personal anecdote as a metaphor for how people generally comply with government mandates, whether out of respect, fear, or a desire to please.
He challenges the common perception of this move as a wholesale confiscation, clarifying that most people complied voluntarily and were compensated at the then-standard gold price of $20.67 per ounce. According to Milton Friedman and Anna Schwartz in their book, A Monetary History of the United States 1867-1960, the amount of gold turned in following Executive Order 6102 was relatively small.
Commodities Newstrading Metals
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Temperature soar to 95 degrees at DFW Airport, tying record set in 1933Some students say they want the university to develop a clear definition of what is considered antisemitism on campus.
Read more »
Wednesday's temperature ties 1933 D-FW area daily record, NWS saysThe high temperature recorded Wednesday at Dallas-Fort Worth International Airport tied the daily record set in 1933, according to the National Weather Service.
Read more »
Minton Strikes Gold at the Historic Gold County Pro RodeoBrushton Minton dominated the pack, placing in two events and winning the all-around in Auburn, Calif.
Read more »
Equinox Gold buys out Orion for almost $1bn as it readies Greenstone for first goldNo 1 source of global mining news and opinion
Read more »
Gold bars and coins vs. gold stocks: Which is better for investors right now?Both types of gold assets could be a smart bet in today's economic environment. Here's why.
Read more »
Gold prices are high: How to find the best gold prices right nowWith gold prices teetering on the edge of $2,400, here's how you can find the best price available now.
Read more »