Sunday, June 26, 2011

Executive Order 6102

Most "patriotic" citizens have no ability to understand that the government is not an entity that should be blindly trusted.

In 1933 FDR issued executive order 6102 demanding that all citizens hand over their privately owned gold at a conversion rate of $20 per ounce.  He then promptly revalued it to $35 per ounce.

Only his biggest donors and friends had a chance to shuffle their holdings offshore.  This allowed them to avoid the confiscation and actually profit from the fleecing of the citizens.

Currently, dollars are not tied to a gold conversion.  The are created electronically in unlimited quantity.  This might prevent a future gold confiscation.

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