In 1933, newly elected President of the United States Franklin Delano Roosevelt outlawed the ownership of most gold for most citizens of the U.S.
Some argue that he was justified in doing so. (Those same people probably think he was taken totally by surprise on December 7, 1941, too.)
While we will not discuss every aspect of this scoundrel’s action against liberty, it is instructive to debunk those who feel he “had to do it” to properly back the dollar and allow for economic recovery from the Great Depression.
James Turk’s article describes it well.
One particular point I will draw your attention to in James’ article is that the dollar was devalued by 41%, not the 67% that is quoted in so many places. Poor mathematicians derive the errant 67% figure by dividing the pre-theft gold price of $20.67 into the post-theft gold price of $35.
That is the wrong equation to solve for.
James Turk performs his math correctly, as one might expect of such an intelligent and well spoken gold authority.
Buy and Store gold offshore using James Turk’s excellent company, Goldmoney.
