History ignorance of people: buying gold will never protect them

Discussion in 'Politics' started by harrytrader, May 12, 2003.

  1. Many people think of buying Gold to protect them in case of a systemic crisis, it's even a common belief. They must be aware that under Emergency Act of 1933 WHICH IS STILL AVAILABLE TODAY (only since that date in fact) the President can forbid GOLD for citizens. Not only he can but that's what he did after the crisis of 1933 (by issuing Executive Order 6102): US Citizens weren't able to protect their assets with Gold because citizens were told that failure to obey to give all their Gold to the government would result in severe penalties as well as confiscations of gold without redress.