Cryptonian
11/14 03:03
What's going With BTC
This is an opinion editorial by Seb Bunney, co-founder of Looking Glass Education and author of the Qi of Self-Sovereignty newsletter.For those who have had the chance to dig into our monetary history, you may have encountered a little-known policy called Executive Order 6102. It was a momentous attack on the sovereign individual and the free market. An event that corralled U.S. citizens away from gold, into the U.S. dollar and assets from which the U.S. government benefits.What Was Executive Order 6102?
During the Great Depression, President Franklin D. Roosevelt issued Executive Order 6102 on April 5, 1933, forbidding the hoarding of gold coin, gold bullion and gold certificates within the continental United States.
At that time, the Federal Reserve Act of 1913 required any newly issued dollar bills to be 40% backed by gold. Executive Order 6102 freed the Fed from this restriction as it could coercively obtain more gold than it otherwise would have been able to by restricting the usage of gold and purchasing it back at an exchange rate defined by the government.
Moreover, pushing people out of gold and into U.S. dollars helped strengthen the dollar during a period of monetary expansion and central bank intervention.
This Executive Order was in effect until December 31, 1974, when congress once again legalized private ownership of gold coins, bars and certificates.
With an understanding of Executive Order 6102, I wanted to shed some light on modern government thinking.
In the eye-opening book, “The Mr. X Interviews: Volume 1,” Luke Gromen takes the reader on a journey through the past, present and future macroeconomic environment. Although the book details many captivating events, one event in particular stood out to me. Groman cites a leaked document from the U.S. State Department dated December 10, 1974. Here is an excerpt from that document:
2Bagikan
Semua Komentar0TerkiniHangat