Has U.S. Government Confiscated Gold?

Unbelievably the answer is YES.  

April 5th 1933 President Franklin D. Roosevelt signed Executive Order 6102. The order criminalized the possession of gold which included gold jewelry by individuals and businesses. It was said that the Great Depression was extended by the hoarding of gold. Stiff penalties of $10,000 ($175,000 in 2012) and or up to five to ten years imprisonment were sanctioned.  

 

 

 

 

In 1934 Congress passed the Gold Reserve Act of 1934 which ratified the Executive Order 6102. The order allowed individuals to own approximately 5 troy ounces (155 grams) and protected legitimate gold coin collections. Fortunately, prosecutions were extremely rare as President Roosevelt and Congress amended the law because of several invalid rulings from Judges. This effort by the US government helped contribute to the abandoning of the gold standard in 1971 by President Nixon.  

 

Do you think under the current economic malaise the U.S. Government will re-enact Executive Order 6102?

By, Kevin Robbins

Gold Solutions, LLC