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SEP 06, 2013 - Zero Hedge

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Gold Confiscation

0 false 18 pt 18 pt 0 0 false false false 0 false 18 pt 18 pt 0 0 false false false It is well known that in 1933, President Roosevelt confiscated the gold of U.S. citizens and made possession of gold illegal. He gave gold owners about $20 an ounce and when he was done, he raised the gold price to $35. The common telling of this story portrays it as a simple case of robbery. It makes people wonder if 1933 is a precedent, if the government might confiscate gold in the not-too-distant future. I don’t think it was so simple. Let’s look at how the monetary system ... Read More

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