"When the State Turns Against Its Citizens"

[ If they did it once, they'll do it again ]

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In 1933, an American President used his governmental authority against the American citizenry.

President Franklin Delano Roosevelt forced American citizens to relinquish their gold, under penalty under penalty of a $10,000 fine, or ten years' imprisonment, or both.

The gold had belonged to the citizens.

The government wanted it.

So they changed the laws and took it, giving paper coupons in return.

Executive Order 6102 was implemented so the U.S. government could devalue the dollar more aggressively to stimulate the economy during the Great Depression. (So long as citizens had the opportunity to preserve their wealth in gold, such economic stimulus would result in obvious, high inflation.)

The executive order compensated owners $20.67 for each troy ounce of gold.

Shortly after issuing Executive Order. 6102, President Roosevelt raised the price of gold from $20.67 to $35 per ounce, devaluing the paper dollar coupons by 58% in one day.

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