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xbacksideslider

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Agreed. Nixon took US off of the gold standard

Disagreed. You did make up stuff. I never said what you said I said.

FDR, outlawed ownership of gold by the common man. That is what my point was. What I said.

Yeah, any criticism of the god FDR is heresy. I’m a heretic.
 
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xbacksideslider

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Yep and that’s what drove you to fabrication, making up stuff - unthinking fealty to god on earth, FDR.
 
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Do eventually fail.

“Hoarding” was FDR BS; he wanted to buy votes with money he didn’t have; the Fed could not create new currency so long as money was defined as gold. The “gold clause,” which was found in EVERY contract for any good or service, said that payment could be made in currency but at the payee’s option had to be made in gold. THAT is why FDR confiscated all gold and why he, by executive order, invalidated every single gold clause in every single contract. Without the gold clause he and the Fed were free to inflate., free to dilute all the currency. Free to “water the stock.”

Gold could indeed back the dollar - just integrate a thread, or threads, of it into every bill. That would stop the Keynesian dilutors/inflators in two seconds.

If we do suffer an inflation, a dilution, it’s more likely to result from political subsidies and crony supports , coupled with the Fed going nuts, than whatever China might do. Larry Kudlow said 1/3 of GDP today. THAT is risky.

Most of what Trump has said about China turned out to be prescient or on target. I’ve changed my mind about him, and about tariffs and so called “free trade.” He was correct in his tariff policies. I was wrong. Wall Street and the OSHA/EPA regulatory “clean industry” statists cooperated in a take down of our unionized industrial heartland. Big Democrats and Big Republicans - the Uniparty - cheered it on.
 
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Executive Order 6102 ,United States presidential executive order signed on April 5, 1933, by President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States".
Not bullshit and intended to stop a run on the banks - a very real possibility in 1932-3. And one wonders just how the US could have financed its role in ww2 if it had stayed on dollar gold parity.

There is a terrifying economic scenario unfolding before us and if there is going to be resolution it will require thinking outside the box and that is something FDR was always prepared to do and we are badly in need of
 

xbacksideslider

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". . . forbidding the hoarding . . ." Really? The common man, everyman, the little guy - he? was hoarding gold ? BS

No, FDR forbid POSSESSION. Nothing to do with runs on banks. People could still withdraw currency as the Fed supplied the currency.
Yeah, the banks, with the blessing of the Fed and Wall Street, just like today, were creating currency out of whole cloth by way of their "reserve ratio" - by lending more than they had on deposit. That practice is fraudulent but legal. Yeah the bankers always bribe/buy legality from the politicians for their money creation. God forbid that anyone says - "BS, pay me in gold !"


I do not share the dogma that the US's entry into WWII was wise or good. The isolationists were correct.

FDR didn't even try to stop the holocaust; he had other priorities. Hitler was evil. Stalin was too. Let them kill each other. FDR was determined to get into the war. Lied about his intentions when running for re-election.

FDR fed billions to Stalin; propping up evil; a fellow traveler allied himself with another leftist; his provocation of Japan was calculated to get the US into the war, and was pro-Stalin; it ensured that Stalin didn't have to fight a two front war with Japan to the east and Germany to the west. Better if they had fought each other. Thanks to FDR we had to fight Japan instead of the USSR.
 
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