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So can anything really, which is scary. In the 1930s, the government banned private ownership of all gold that wasn’t a small amount of jewelry and mandated any
by gjsman-1000 4y ago
So can anything really, which is scary. In the 1930s, the government banned private ownership of all gold that wasn’t a small amount of jewelry and mandated anyone possessing it exchange it for dollars… with only an executive order. (Executive Order 6102)
That was also a canary in the coal mine moment. Amazingly the ban lasted until 1974.
- HyperSane 4y agoSeems like it didn't actually affect much since the US economy grew by a huge degree during that time.
- jollyllama 4y agoBefore factoring in inflation, people who defied the order would have roughly doubled their money during that time period.