Great Gold Robbery

It's called the Emergency Banking Act of 1933 but some people have dubbed it the Great Gold Robbery of 1933.

In 1917, the Trading with the Enemy Act had been approved by legislators in the United States. The intention of this piece of legislature was to make it a criminal act for Americans citizens to trade or conduct economic transaction with foreigners considered enemies of the US. In 1917 the nations of the world were in the midst of a global war.

Part of the Trading with the Enemy Act stated that the American President, at this time, Woodrow Wilson, had the legal right to alt the trading of precious metals, foreign currency, and other financial assets carried out by any US citizen. An amendment to the act in 1918 increased Wilson's power to include the right to investigate the hoarding of gold practices of US citizens, and to regulate and prohibit such activity. This Trading with the Enemy Act was supposed to carry through to two years beyond the resolution of WW1.

But the Act remained in power well beyond these two years and in the 1930's it would come back to haunt the very citizens it was promoted to protect. The enemy had nearly become the American citizen.

In 1933 Roosevelt was presiding in the US after Harding, Coolidge, and Hoover had seen the country through the wild financial post WW1 swing which brought on the Great Depression which followed the market crash of 1929.

In 1933 Roosevelt and his administration were working on the Roosevelt's banking bill. The bill was in draft and to some representatives it was a bill that offered complete control over the banking system by a few individuals. The legislature was passed quickly through the house and was signed by Roosevelt as the Emergency Banking Act of 1933.

But the coup did not end with this new act. During these same precedings the 1917 Trading with the Enemy Act was amended and where the words "during times of war" once read, now the act stated that in times of national emergency considered capable of causing civil unrest inside the country, the President could exercise the right of alting the trading or hoarding of gold and other financial assets.

Discussion on the passing of the bill was minimal which by many records was part of the larger plan. ( Watch an hour of Bloomberg when the markets are volatile and you get the general idea of how pumping news and dumping assets while the public is confused is something that the big money players have long ago mastered ).

Within a month after signing the Emergency Banking Act and amending the Trading with the Enemy Act, Roosevelt called in his gold bullion.

Corporations and individuals in America were enforced by law to turn over their gold holdings to the feds. The individuals and corporations were give paper currency as a forced trade.

A short time later the feds entered the Bretton Woods Agreement and set a new gold standard quote 15 dollars higher than the market price. From 20.67 the price of gold moved to 35 dollars and remained pegged there inside the USA until 1971.

The great depression had turned into the great gold robbery.

Legal Tender had become whatever the government made it out to be and for now it was the fiat dollar of the US.