A Short History of How the U.S. Government Made Gold Illegal

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It's 1933 and President Franklin D. Roosevelt ends the gold standard for Americans and creates “Executive Order 6102” which mandates the confiscation of private gold holdings.

This executive order requires all citizens to deliver their gold coin, gold bullion, and gold certificates to the Federal Reserve by May 1, 1933.

Those who do not deliver their goal are considered “hoarders” and are considered to be the cause of the economic crisis.

Holding (AKA: Hoarding) gold becomes a criminal offense.

As for the penalties for non-compliance? A $10,000 fine (equivalent to about $200,000 in 2024) and/or imprisonment for up to ten years.

“Executive Order 6102” effectively transfers a significant portion of the U.S. gold reserves from private hands (the public) to the Federal Reserve, thereby increasing the government's control over the money supply.

After confiscating gold from citizens through Executive Order 6102, the U.S. government then raised the price of gold from $20.67 to $35 per ounce.

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