Hi retired, << Message 17676467 >>
... get the books mentioned here ...
Message 15406647
... particularly this one ...
amazon.com
Read Pages 318 to 327, and you would think the Argentina government learned from Roosevelt in how to "do it to them".
The act was made legal by passage of Emergency Banking Act of 1933.
The author of the book, Peter Bernstein, was a Harvard undergraduate at the time, and relates a fact about professor Arthur Dewing who had marched into the Harvard Trust Company on Harvard Square and withdrew his 'substantial bank account in gold coin ... called on the carpet by the dean ... for setting such an example of unpatriotic behavior'.
Read the book, it is written in fun fashion, but describes the ugly truth about money.
Recently, the Argentine folks had been very unpatriotic, in sharp contrast to the Thai and Koreans during and after the 1998 Asian Financial Crisis. And comparatively speaking, in a relative sense, there is little difference between Argentina and Zimbabwe, the topic of this thread.
Message 14861804
“On gold, I am not a gold bug, and I do not believe in a return to the gold standard. Gold is not money. However, gold is a store of value. I do not know the value of gold, but I do know by observation that the selling of hoards of gold had saved many families in Asia during the past few years. I think platinum is a better store of value.”
I am, however, hopeful that the situation could change for the better outside of Zimbabwe:
Message 17676352
Chugs, Jay
More references:
kc.frb.org
"1933: The Depression’s Aftermath
... Roosevelt recalled all gold and silver certificates, effectively ending the gold and any other metallic standard."
and some old controversies:
iresist.com
<<The Bankruptcy of The United States
United States Congressional Record, March 17, 1993 Vol. 33, page H-1303>>
independent.org
<<How FDR Made the Depression Worse>>
certifiedgoldcoins.com
<<The United States Gold Confiscation Executive Order 0f 1933>>
... and new fears
pcisys.net
<<It Happened Before...History Has A Way of Repeating Itself?
********************
THIS EXECUTIVE ORDER IS STILL VALID. IT HAS NEVER BEEN RESCINDED. ALL BULLION AND BULLION COINS ARE SUBJECT TO CONFISCATION WITHIN THE U.S. AT ANY TIME.>> |
