Monday, March 31, 2014
Gold Confiscation Act Of 1933
While the Great Depression was a terrible time in this countries history. One thing that is not really talked about is the Confiscation of almost all Gold held by private parties of the United States. This was done in 1933 under a Declared National Emergency, one that was declared by then sitting President Franklin D. Roosevelt.
Not only the people, but also Corporations, Partnerships and Associations were all required to hand over all of their Gold Currency and Gold Bullion to the Government. What they received for payment was the soon to lose value, Paper Money.
What happened if the Gold was not turned over to the Government?
There was a Criminal Penalty threatened to those who refused to comply. $10,000 Fine and 10 years in jail, or both.
Your Corporate Government Education System does not teach this part of our history.
Never in our history was such a seizure of private property ever perpetrated. The shocking thing is even at the High School and Collegiate level this part of our history is not even mentioned.
Why is this not taught in our schools?
To keep the people ignorant of the real history of our Nation allows the People to remain in perpetual servitude to an oppressive Government. Without knowledge of the Act, it is very possible for the same kind of property seizures to occur again.
A History Lesson
It was 1933 and the nations economy was swirling uncontrollably. The profitable and industrious Roaring Twenties had swiftly turned in 1929.
Black Tuesday is the day of the infamous stock market crash followed by heavy unemployment and hard times that was to be known as the Great Depression.
Banks across the country were closing eliminating the deposits of many people's Life Savings. Anyone with money in a bank was clamoring to retrieve their wealth, most wanted their payment to be in Gold Coins and/or Gold Bullion.
Back then our currency was backed by the Gold standard, Gold Coins were used just as worthless paper money is used today. You could exchange your paper money for gold coins back and forth. In 1933 a Troy Ounce of Gold was worth $20.67 that was the Government Rate.
With all the demand for Gold it was not long before a shortage of Gold would occur. This "run on the banks" almost and some would say did, cause the Bankruptcy of the Nation.
Get A Copy of Original Act For Your Records: http://www.scribd.com/doc/215599877/1933-Confiscation-Act
Posted by John MacHaffie at 11:36:00 PM