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Gold standard and gold seizure are two different things. Executive Order 6102 required U.S. citizens to deliver on or before May 1, 1933 all but a small amount
by steveplace 16y ago
Gold standard and gold seizure are two different things.
Executive Order 6102 required U.S. citizens to deliver on or before May 1, 1933 all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 per troy ounce. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of the order was punishable by fine up to $10,000 ($166,640 if adjusted for inflation as of 2008) or up to ten years in prison, or both.