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NuttBoxer says
It was a voluntary turn in, not mandatory confiscation. Feel free to provide a citation proving otherwise,
Executive Order 6102 - https://en.wikipedia.org/wiki/Executive_Order_6102
It was a bailout of the Federal Reserve that was counterfeiting money.
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $487 in 2023)[7] per troy ounce. Under the Trading with the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, a violation of the order was punishable by fine up to $10,000 (equivalent to $235,000 in 2023),[7] up to ten years in prison, or both.
It won't work this time. People who own bullion would rather dump the stuff in the Mariana Trench than give it to the government.
Can someone explain this graph?
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