IGNORANCE IS BLISS:PRESIDENT F.D.R. STEALS GOLD FROM CITIZENS
Ahh yes, how blissful it is for the mighty to keep the rest in ignorance.
READ ABOUT EXECUTIVE ORDER 6102
signed on April 5, 1933 by then, President Franklin Delano Roosevelt.
Know that, The Great Seal of the United States features the unfinished Great Pyramid of Giza, a symbol of the unfinished work of the Esoteric Orders: a New World Order.
The Seal was adopted on the American dollar by Franklin Delano Roosevelt, a 32nd Degree Freemason and a Knight of Pythias with ties to Manly P. Hall who wrote, THE SECRET TEACHINGS OF ALL AGES by Manly P. Hall [1928, copyright not renewed]
THE SECRET TEACHINGS OF ALL AGES by Manly P. Hall [1928, copyright not renewed]
Then ask yourself,
What's the best way to determine how much of the $16 trillion U.S. debt is attributable to each President?
The most popular way is to look at the debt level when each President took office. Sometimes it's easier to look at a graph showing the percent of the debt accumulated under each President. It's also important to compare the debt as a percent of economic output.
However, these aren't the most accurate ways to measure the debt contributed by each President. Why? The President doesn't really have much control over debt accumulation during his first year. That's because the budget for that fiscal year was already set by the previous President. The new President pretty much has to live with that budget's tax rates and spending levels for the first nine months of his inaugural calendar year in office. You really can't hold him accountable for the debt incurred by the previous President's budget.
Budget Deficits by Fiscal Year Since 1960:
President Barack Obama: First Term = $5.073 trillion. •FY 2013 - $901 billion.
•FY 2012 - $1.327 trillion. •FY 2011 - $1.299 trillion. •FY 2010 - $1.546 ($1.293 trillion plus $253 billion from the Obama Stimulus Act that was attached to the FY 2009 budget).
President George W. Bush: First Term = $1.267 trillion. Second Term = $2.027 trillion. Total = $3.294. •FY 2009 - $1.16 trillion. ($1.416 trillion minus $253 billion from Obama's Stimulus Act)
President John F. Kennedy: Two Years in First Term = $11 billion. •FY 1963 - $5 billion. •FY 1962 - $7 billion. President Dwight Eisenhower: First Term = $3 billion surplus. Second Term = $19 billion. Total = $16 billion. •FY 1961 - $3 billion.
FY 1789 - FY 1913 - $24 billion surplus. (Source: OMB, Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits: 1789–2017)
* INTERESETING FACT: Howa President robbed his citizens od their gold to make a profit.
Monetary Realists--both of us--are like the little boy in the story of the Emperor's new clothes. Untrained in economics, we do not know what we are supposed to see; and we have escaped the indoctrination, a.k.a. education, which instructs us to see what isn't there, and assert what we do not know as true. An example: responding to the depression of the '30s, President Roosevelt "revalued gold from $20.67 to $35 per ounce." The quote is from the estimable and learned vronsky, from his article at this site, "A Possible 1999 Scenario." The quote is buttressed by another quote from "contemporary experts: "In an effort to rise out of the economic depression, and generate more employment, FDR on January 31, 1923, devalued the dollar by raising the price paid for gold by the U.S. Treasury." And indeed, there is virtually unanimous agreement among the cognoscenti that Roosevelt did, indeed, "raise the price of gold" by his action of 1931. May a small timid voice ask, "Did he?"
What ever happened to the meaning of words? Let us look at Roosevelt's actions through the eyes of the little boy at the Emperor's parade.
"--raising the price of gold." How does one pay a price? In money. What, specifically, was American money in 1934? Well, for foreigners, it was gold, although American citizens had had their money stolen by FDR in 1933. So our government, specifically the Treasury, was going to pay more money for gold subsequent to Roosevelt's ukase. But gold WAS money; money WAS gold! To pay more money for gold meant paying more gold for less. The dollar was .0483 ounce of gold, when the dollar was standardized at $20.67/oz. With the dollar at $35.00/oz, it was .0286 ounce. So the government announced, in what is generally regarded as a stroke of economic savvy and sophistication, that it would pay gold for gold, and that to buy .0483 of an ounce, it would pay .0286 ounces! Moreover, it announced that this was an "increase" in the price of gold! And people believed it, and still do!
But it probably never happened that way. The idea, after all, was to cheapen the paper currency. You can't cheapen gold! So Mr. Roosevelt and his henchmen would offer foreigners 35 Federal Reserve "notes" for an ounce of gold which had previously been "worth" 20.67. Wow! What a deal. Apparently, many went for it. However, should those foreigners decide to take the $35.00 from the sale of an ounce of gold, and use it to buy gold, they would end up with what they sold in the first place: an ounce of gold. No profit whatsoever. If they used the "dollars" (of what?) to buy $100 worth of gold they would have ended up with $59 worth of gold of the previous value, which they had sold so "profitably." A loss! But if they used the paper currency, not to buy gold, but to buy American products, they could buy more of them, since their prices had not changed. The producers of those products, however, would have to accept "dollars" worth only 59 cents!
What a protection for the American worker! The extent to which he was being robbed, however, was not apparent to him, because the government had, the year before, stripped him of gold ownership, so that he could not take his "dollars" to the bank and test them. And with more Americans working (albeit at a 41% discount!) the appearance of prosperity was undeniable.
What a malign institution is government! Designed to protect the rights of the people, it robs them under the guise of protection! And it does this to solve problems of its own making. Robbing the people it was created to protect, it enriched foreigners at the expense of those very same people.
Interestingly, it found this job easier because a gullible people either did not demand, or did not understand, the meaning of words; especially that most important word "dollar." Today it is a legal fiction for which we are expected to give our lives, at least to the extent of 40 hours weekly. In 1934, it did have a meaning, but no one asked, or no one cared. Neither did anyone question why anyone would use gold (money) to buy gold, or give less gold for more. Indeed, it is rather obvious that the only thing which cannot have a price is money!
Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States". The order criminalized the possession of monetary gold by any individual, partnership, association or corporation.
The order was rationalized on the grounds that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse. The New York Times, on April 6, 1933 p. 16, wrote under the headline "Hoarding of Gold", "The Executive Order issued by the President yesterday amplifies and particularizes his earlier warnings against hoarding. On March 6, taking advantage of a wartime statute that had not been repealed, he issued Presidential Proclamation 2039 that forbade the hoarding 'of gold or silver coin or bullion or currency,' under penalty of $10,000 and/or up to five to ten years imprisonment."
Executive Order 6102 required all persons 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 (equivalent to $371.10 today) per troy ounce. Under the Trading With the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, violation of the order was punishable by fine up to $10,000 (equivalent to $180 thousand today) or up to ten years in prison, or both. Most citizens who owned large amounts of gold had it transferred to countries such as Switzerland.
Order 6102 specifically exempted "customary use in industry, profession or art"—a provision that covered artists, jewellers, dentists, and sign makers among others. The order further permitted any person to own up to $100 in gold coins (a face value equivalent to 5 troy ounces (160 g) of Gold valued at about $7800 as of 2011). The same paragraph also exempted "gold coins having recognized special value to collectors of rare and unusual coins." This protected recognized gold coin collections from legal seizure and likely melting.
The price of gold from the Treasury for international transactions was thereafter raised to $35 an ounce ($587 in 2010 dollars) resulting in an immediate loss for everyone who had been forced to surrender their gold. The resulting profit that the government realized funded the Exchange Stabilization Fund established by the Gold Reserve Act in 1934.
The regulations prescribed within Executive Order 6102 were modified by Executive Order 6111 of April 20, 1933, both of which were ultimately revoked and superseded by Executive Orders 6260 and 6261 of August 28 and 29, 1933, respectively.
Executive 6102 also led to the ultra-rarity of the 1933 Double Eagle gold coin. The order caused all gold coin production to cease and all 1933 minted coins to be destroyed. About 20 illegal coins were stolen, leading to a standing United States Secret Service warrant for arrest and confiscation of the coin. A legalized coin sold for over 7.5 million dollars, making it the most valuable coin in the world, almost double its nearest competition.
WE THE PEOPLE ALWAYS SEEM TO LOSE
The Gold Reserve Act of 1934 made gold clauses unenforceable, and changed the value of the dollar in gold from $20.67 to $35 per ounce. This price remained in effect until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus abandoning the gold standard for foreign exchange (see Nixon Shock).
The private ownership of gold certificates was legalized in 1964. They can be openly owned by collectors but are not redeemable in gold. The limitation on gold ownership in the U.S. was repealed after President Gerald Ford signed a bill to "permit United States citizens to purchase, hold, sell, or otherwise deal with gold in the United States or abroad" with an act of Congress codified in Pub.L. 93–373, which went into effect December 31, 1974. P.L. 93-373 did not repeal the Gold Repeal Joint Resolution, which made unlawful any contracts that specified payment in a fixed amount of money as gold or a fixed amount of gold. That is, contracts remained unenforceable if they used gold monetarily rather than as a commodity of trade. However, Act of Oct. 28, 1977, Pub. L. No. 95-147, § 4(c), 91 Stat. 1227, 1229 (originally codified at 31 U.S.C. § 463 note, recodified as amended at 31 U.S.C. § 5118(d)(2)) amended the 1933 Joint Resolution and made it clear that parties could again include so-called gold clauses in contracts formed after 1977.