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> Roosevelt confiscated gold held in banks Not just the gold held in banks. Roosevelt made it illegal for American citizens to own more than a trivial amount o
by leereeves 5y ago
> Roosevelt confiscated gold held in banks
Not just the gold held in banks. Roosevelt made it illegal for American citizens to own more than a trivial amount of gold (with a few exceptions like jewelers and coin collectors).
Afterwards, as you said, dollars could be redeemed for gold at the new price, but only by foreigners.
- chrisco255 5y agoYes, but he didn't send federal agents around to people's houses to confiscate any gold they might have. Prior to that executive order, presumably, most Americans kept their gold in bank deposit boxes. In my opinion that executive order should have been overturned as unconstitutional. But Roosevelt owned the courts.