Wednesday, January 11, 2012
Will the U.S. government confie gold bullion again?
FDR confied gold from U.S. citizens and paid them $22 / ounce. after that the price of gold was arbitraily set at $35 / ounce giving non-americans a much better deal. it was illegal for americans to own gold bullion until Ford was president. nixon took the u.s. entirely off the gold standard when he got wind of charles degaulle's intention to exchange american dollars for gold thereby making the american dollar 100% fiat. some feel that gold will not be confied because dollars can no longer be exchanged for gold. others argue it will be confied because that commonly occurs in police sates.
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