Governments past and present are nothing more than magicians; they are adept at the three card monte where the taxpayer’s money disappears quicker than a vehicle vacuumed up by a Florida sinkhole. The best way to phrase the politician is a fugitive 180 degrees different from when they first became elected. In the majority of cases the political class summons the news media to put on a spectacle for the very few parasites who continue to mooch off the systems. The public in essence is to busy to protest such a prearranged spectacle. Always notice that the politician do gooder is always surrounded by his or her comrades. This is not because they believe in the policy or action to be taken, but to give support to a weaker member of the cabal.
The scheme of confiscation was initiated by FDR in 1933 when by executive order 6102 the gold window was abruptly shut. All citizens were required under edict to exchange their gold for paper. Think about this happening today. There would be lead flying in the streets. The main rationale behind the order was actually to remove the constraint on the Federal Reserve which prevented it from increasing the money supply during the depression; the Federal Reserve Act (1913) required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit (in the form of Federal Reserve demand notes) that could be backed by the gold in its possession (see Great Depression). If gold can’t be legally owned, then it can’t be legally redeemed. If it can’t be legally redeemed, then it can’t constrain the central bank.
Numerous individuals and companies were prosecuted related to President Roosevelt’s Executive Order 6102. The prosecutions took place under subsequent Executive Orders 6111, 6260, 6261 and the Gold Reserve Act of 1934.
There was a need to strengthen Executive Order 6102, as the one prosecution under the order was ruled invalid by federal judge John M. Woolsey, on the grounds that the order was signed by the President, not the Secretary of the Treasury as required.
The circumstances of the case were that a New York attorney, Frederick Barber Campbell, had on deposit at Chase National over 5,000 troy ounces (160 kg) of gold. When Campbell attempted to withdraw the gold Chase refused and Campbell sued Chase. A federal prosecutor then indicted Campbell on the following day (September 27, 1933) for failing to surrender his gold. Ultimately, the prosecution of Campbell failed, but the authority of the federal government to seize gold was upheld, and Campbell’s gold was confiscated.
The bottom line here is that the government then became the authority on what amount of money was put into circulation. They, at their will, could print any amount sufficient to keep the scheme rolling. Today we have seen the result of a the printing at all costs paradyne.
For instance, during Obama’s almost seven years in office, debt has risen by $8 trillion. Yet we have an economy in tatters; don’t believe the official dogma of 5.1 % unemployment, counting those who have given up, the unemployment rate is close to 14%. Keep in mind that during the depression not one single human being gave up looking for work. But it is a different matter today because of social programs and the what not provide a safety net. Putting that aside, those who have given up look is not because of the safety net, but because there are no jobs available.
If the government paper hangers feel that gold was the enemy in the past and paper (fiat) currency is the panacea, then why not print trillions of dollars and hand out a ten million to every citizen. By the way that has been tried in Germany during the reign of Weimar.
The confiscating of gold produced a monopoly in all countries that did not back their currency with gold or silver. Effectively we have turned over out lives to the Federal Reserve money mongers without our permission. Through printing the government has devalued an individuals assets over time. Soon the day of reckoning will be upon us. Very soon!