Roosevelt Confiscates Gold

On April 5, 1933, President Franklin D. Roosevelt signed Executive Order 6102, banning the “hoarding” of  gold:

All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve Bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion and gold certificates.

Punishment for violating this prohibition was severe:

Whoever willfully violates any provision of this Executive Order or of these regulations or of any rule, regulation or license issued thereunder may be fined not more than $10,000, or, if a natural person, may be imprisoned for not more than ten years, or both.

Never forget.

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