massah
Well-Known Member
Oh yeah didn't all gold have to be turned in?
The Fed is audited Regularly What is all this Audit the Fed Non sense?
- Thread starter dukeanthony
- Start date
you liar.
you couldn't own gold COINS. or gold CURRENCY.
it was totally legal to own gold jewelry. TOTALLY!
RyanTheRhino
Well-Known Member
Yes this audit comes form the same people that claim area 51 dose not exist....But....but...we have private satellite photos commander....?
RyanTheRhino
Well-Known Member
Executive Order 6102
own up to $100 in gold or $1,677 if adjusted for inflation or ten years in prison
The Ruiner
Well-Known Member
And the gold exchange was more of an international monetary exchange having little to do with the domestic situation.
you cited it. it was 100 dollars or 9-10 THOUSAND dollars in today's money.
you think all these politicians and wealthy industrialists just gave up their gold monocles, necklaces and rings down to a miserable $100 each do you???
you talk about it like if it was like alcohol prohibition...it wasn't....
RyanTheRhino
Well-Known Member
You think in 1970 the value of $100 of gold was worth $10,000 today? Gold was $35 an ounce from 1933 til 1971, so there was 3 ounces of gold, which is worth $5,100 today. The point was that gold could not be used as money.
YOU LIAR!!
You could own gold coins that were minted previous to 1933 because of Numismatic and collector value!!You could own a little bit of gold bullion, or a whole lot of old coins that were made of gold, but you could not transact with them. Yes you are correct, you could own Jewelry, but some good it could do you when you couldn't use it for money. The point of the gold confiscation was so that gold would not be used as money inside the US anymore, that, and they revalued the gold from $20 to $35 so the Government got 90% more money all the while devaluing all dollars by the same amount. 1933 was a bad year for the US, it was going to go bankrupt if FDR didn't do something drastic, so he nationalized gold. Gold dust was legal to own too, as were art objects, you forgot to mention those.
Yep, You couldn't really exchange gold for cash, they would arrest you for not turning it in when they nationalized all the gold in the country. It was used to illustrate the point that you can't be on a Gold Standard if gold is illegal to transact in.
The Ruiner
Well-Known Member
The whole point ND, was that at the time of 1970, the dollar was backed by debt. No matter how your try to spin it, you were wrong.
Backed by debt? Sorry charlie that didn't happen until August 18, 1971. I am not spinning a thing here, I am stating irrefutable fact that neither you nor a whole army of history revisionists will ever be able to prove otherwise.
The Ruiner
Well-Known Member
But you haven't clarified anything...and how many times did you change your position?
Prove it. You're post has nothing to back it up
If you had a thought process that went to the next level you might have a chance at understanding. Think about this "its not our fault, government said everything was okay"
Now try suing the government
How did government oversight work on preventing the latest gulf oil spill?
yes you could if those coins were minted outside of the US
sigh you are so uninformed it hurts.
The reason the banks had the money to pay the loans back was the Federal Reserve bought toxic loans from those very same Banks. That is why the banks had the money.
You probably dont know about the trillions the Federal reserve paid out to foreign companies either.
It is totally clear , if you cannot see it I suggest a trip to the eye doctor. BTW I never changed my position, not even once. The Dollar was backed by silver from 1933 through Aug of 1971.