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View Full Version : FDR's 1933 Gold Confiscation was, in fact, a bailout of the Federal Reserve Bank


dcarr
02-27-2011, 06:45 PM
There is some interesting data that I tabulated and analyzed as proof, and published in this article:
http://www.moonlightmint.com/bailout.htm

Quote:
“At the very minimum, Federal Reserve Notes to the tune of
20,000 metric tons of gold were ‘circulating naked’ in 1933.”

MarcV
02-27-2011, 06:56 PM
My comment is no longer relevant.

dcarr
02-27-2011, 07:02 PM
The leap from 6,000 metric tons to 16 metric tons had me confused right away and from then on I couldn't follow the numbers. Did you mean 16 was 37.5% of 6,000? Or did you mean 6,000 is 37.5% of 16? :confused: Or are you using the comma (,) in the European fashion, as a decimal indicator?

That was a typo "16" should be "16,000" (now corrected).
You sure found that fast. The article was only posted for a few minutes before I noticed the typo myself.

MarcV
02-27-2011, 08:43 PM
Your point of view is interesting and, possibly, legitimate. I wouldn't leave the U.S. Treasury off the hook, though. The Fed was just the means used by our government to devalue the dollar. When it looked like foreign banks might ask for more gold than the Treasury had, it was time to stock up again by recovering coins held by U.S. residents and not being used in commerce. Most people willingly sold their gold back to the government at that time. Some call it confiscation but it was really just a reclamation. After all, the dollar was defined in terms of silver, not gold.

And the story of silver coinage, even then, is another you might research. Prices were manipulated by the U.S. Government for decades. It's a simultaneous saga of price fixing in the metals markets.

coindog
02-27-2011, 08:45 PM
didn't check that link, but yeah that was the whole point of the "grab for the gold". read a lot about it over the years in the Numis press. mostly about how it has affected supplies of pre '33 gold but they always go into the reasoning behing the "law" which never went through congress.

coindog
02-27-2011, 08:55 PM
And the story of silver coinage, even then, is another you might research. Prices were manipulated by the U.S. Government for decades. It's a simultaneous saga of price fixing in the metals markets.

in the case of silver so much was discovered so fast that the govt. stepped in to maintain the price higher. otherwise the silver in dollars wouldn't have been worth a dollar. they bought uphundreds of millions of them to keep them out of circulation. sounds so backwards today, they wanted to maintain the value of real money. how far we've come.:confused:

Numisgold
02-27-2011, 09:54 PM
And the US brought in so much gold from 1934-1937 that the money supply increased greatly and threatened inflation. So once again they contracted and caused another bout of depression.

Numisgold

usc96
02-27-2011, 10:29 PM
There is some interesting data that I tabulated and analyzed as proof, and published in this article:
http://www.moonlightmint.com/bailout.htm

Quote:
“At the very minimum, Federal Reserve Notes to the tune of
20,000 metric tons of gold were ‘circulating naked’ in 1933.”

Nice article. :cool:

Sabremesh
02-28-2011, 09:20 AM
There is some interesting data that I tabulated and analyzed as proof, and published in this article:
http://www.moonlightmint.com/bailout.htm

Quote:
“At the very minimum, Federal Reserve Notes to the tune of
20,000 metric tons of gold were ‘circulating naked’ in 1933.”

Very interesting article. I have to say this explanation for FDR's gold confiscation hadn't occurred to me, but it makes a lot of sense.

americanspirit
02-28-2011, 11:42 AM
There is some interesting data that I tabulated and analyzed as proof, and published in this article:
http://www.moonlightmint.com/bailout.htm

Quote:
“At the very minimum, Federal Reserve Notes to the tune of
20,000 metric tons of gold were ‘circulating naked’ in 1933.”

Considering the fact there is no constitutional basis for executive orders, which have no force of law I'm sure a lot folks paid no attention to the man 'behind the curtain'.

packrat
02-28-2011, 12:45 PM
The question i have aways wondered is lets just say they do a gold confiscation. What would that do to the price in the short term and again in the long term.

I was one of the smart ones that got all my stuff under the amounts required to give my information. and now that the coin dealer i got it all retired and moved over 2000 miles away theres not much way for them to find out unless they scan the forum here.

but back to the topic the prices?

coindog
02-28-2011, 01:50 PM
The question i have aways wondered is lets just say they do a gold confiscation. What would that do to the price in the short term and again in the long term.

I was one of the smart ones that got all my stuff under the amounts required to give my information. and now that the coin dealer i got it all retired and moved over 2000 miles away theres not much way for them to find out unless they scan the forum here.

but back to the topic the prices?

but now we all know, when thay post a reward for turning in evil hoarders I will collect it. we will get your Pack, Rat. Na, Ha Ha Ha. :p