Why Owning Gold Was Punishable By 10 Years In Prison
发布时间 2021-05-03 19:00:06 来源
摘要
Gold has proven to be by far the strongest asset in the history of the world. Not only has it been in use for thousands and thousands of years, but there is a limited amount of gold giving it intrinsic value. Given the strong position of gold within the financial industry, it's hard to imagine a scenario in which gold is banned. However, the US actually banned gold for a full 41 years in the 1900s. During the great depression, bank panics were becoming rampant and the federal reserve was unable to source enough gold to meet their money printing. So, in 1933, President Roosevelt would sign executive order 6102 which banned the possession of gold coins, billions, and certificates worth more than $100. All citizens were required to turn in their gold to the federal reserve. This led to a few decades of smooth financial operations, but the underlying issue was still very much present. Eventually, this fundamental problem would lead President Nixon to drop the gold standard paving the way for citizens to own gold once again. This video explains the circumstances that led to the US gold ban and the effects of the gold ban on the US financial system.
Socials:
https://www.instagram.com/hariharan.jayakumar/
Discord Community:
https://discord.gg/SJUNWNt
Timestamps:
0:00 - The Time Gold Was Banned
0:36 - Financial Turmoil
5:11 - Gold Ban Enacted
8:30 - Post-Gold Standard
Thumbnail Credit:
https://bit.ly/3t9dCus
Resources:
https://pastebin.com/eLjci5vH
GPT-4正在为你翻译摘要中......
