1929 crisis has brought a direct and most desirable gain to the international bankers who control the federal reserve-1933 On March 9th, in the grand name of saving the financial crisis and preventing American gold from losing to Europe, the new US President Franklin D. franklin roosevelt, who just took office for five days, eagerly launched1933 emergency. The bill gives Roosevelt the right to control and prohibit the export or storage of gold and silver, and gives the Ministry of Finance the right to require people to hand over all gold coins, bars and vouchers (all securities are guaranteed by gold). With the help of international bankers, Roosevelt was determined to deprive the American people of their right to own gold freely. On April 5, he issued an executive order, requiring everyone to hand over gold coins, vouchers and gold bars to the bank and convert them into banknotes or bank deposits at the price of $20.67 per ounce of gold; The bank gave the gold to the Federal Reserve. Anyone who hides gold will be sentenced to 10 years imprisonment and a heavy penalty of $250,000. Roosevelt's sophistry was an emergency temporary measure, but the bill was not repealed until 1974.
1 in April, 1933, the bill passed by Congress further authorized the President to reduce the gold content of the US dollar to 50%~60% of the ratio of1ounce to $20.67 determined before 100. 1On June 5, 933, Congress took further action to stipulate that any contract, including the clause that stipulated gold as the means of payment in the obligations undertaken by the US government, was immediately abolished. 1June, 934, the United States passed the gold reserve bill, and the price of gold was reset to $3,565,438 +0 ounces, but the American people had no right to exchange gold. As soon as Americans exchanged gold for dollars, nearly half of them were looted by Roosevelt's New Deal.
Abolishing the gold clause in the obligation of the American government (the American people will no longer have the obligation to pay gold in their dealings with the government and the Federal Reserve) triggered a large-scale legal lawsuit, which went to the High Court. The High Court held that Congress had no right to prohibit the obligation to pay creditors in gold promised in government debt. However, the High Court then declared that it was impossible for the plaintiff to claim compensation for the loss caused by the change in the gold content of the US dollar (from 65,438+0 ounces to 20.67 dollars to 65,438+0 ounces to 35 dollars), because private ownership of gold was no longer legal.