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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Eva who wrote (2866)	4/2/2002 9:17:16 PM
From: Canuck Dave	Read Replies (1) \| Respond to of 39344

It was Nixon, in 1970. Private ownership was also allowed again. The US hasn't been shy about manipulating the price in the past. From about 1910 until 1933, gold was pegged at about 22.50 an ounce. Roosevelt effectively confiscated all private gold holdings and then revalued it at 35 an ounce. This in part paid for New Deal programs. The US also reneged on its gold certificates in 1933, disallowing conversion of Federal reserve notes in specie (i.e. for gold). In the 1800's, US had a bimetalic standard, but big discoveries of silver effectively drove people to gold (bad money drives out the good). CD

To: Eva who wrote (2866)	4/2/2002 9:17:49 PM
From: marcos	Read Replies (1) \| Respond to of 39344

Borden's government, Sept or Oct 1914 ... 'Finance Act of 1914' i believe it was called, object being to crank out fiat to pay for the war, the legislation had already been considered and nearly completely draughted that spring ... then there was a version of the gold standard for the period of 1926['25?]-1931, abandoned at that point .... canadian dollar instituted 1870, country officially on gold standard since 1850/51 or so, unofficially before that of course through the use of sterling [edit] - Dave, you belie your nick, that's not 'us' -g- [edit 2] - this is wrong i'm sure the gold standard was abandoned the second time in 1931 [says '29] - archives.theglobeandmail.com