In 1933, gold was legal tender currency in the United States of America. The dollar was literally as good as gold as the US and many other European countries had been on the gold standard for a century.
If you possessed paper dollar bills, you could present them to the US Treasury and demand gold bullion. If you had a $20 bill, you could exchange it for a $20 one-ounce gold legal tender United States coin. In 1933 gold was accepted everywhere as money.
In that same year, in order to stabilize the monetary system, President Franklin D. Roosevelt, broke his campaign promise to America only one day after he had assumed office on Saturday, March 4, 1933 and declared a four-day “bank holiday”. A month later under Executive Order No. 6102, he confiscated all privately owned gold in the United States. The Great depression was raging throughout the country and banks were failing like a Rush Limbaugh diet.
Rush Limbaugh 2009
In 1933, when gold was legal tender US currency a run on gold could have depleted the US Treasury and collapsed the US dollar. All that is impossible today because of the official decoupling of the dollar from gold. Today, there are no legal or contractual links between gold and the US dollar, the Federal Reserve, and US banks.
Today that can’t happen because Richard Nixon severed the tie between gold and the US dollar on August 15, 1971. With no link to gold, the dollar is considered “fiat” money which is not much different than Monopoly money. Its value is what we perceive it to be or what we are told it should be. It has no natural basis for value.
What Roosevelt did was to steal America’s gold and a scant nine months later he doubled the price of gold with his dollar devaluation in 1934. This was planned, executed and totally approved by the banking cartel.
What President Nixon did was to set us up for an economic calamity, of which we are at the tail end of today. The tail end of the calamity, but the beginning of the suffering.
We are constantly assured that this can never happen again. But our detractors are wrong, because it is happening right now.
As millions and millions of us stuff those little envelopes with our broken and “worthless” gold jewelry and send them off to God knows where, we are being covertly robbed.
Robbed because the “fiat’ money they send you in return is near worthless now and will be worth even less in the years to come. While your “broken and worthless gold” will continue to rise in value.
Soon, very soon, it may be the only thing to stand between your family and starvation.
Gold Merchant in Dubai
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