“The long-lasting imprint from FDR’s famous ‘Hundred Days’ did not stem from the bank holiday, national industrial recovery act, the farm adjustment act, the Tennessee Valley Authority, or the public works administration. Instead, it is lodged in the footnotes of standard histories; namely, FDR’s April 1933 order confiscating every ounce of gold held by private citizens and businesses throughout the United States. Shortly thereafter he also embraced the Thomas Amendment, giving him open-ended authority to drastically reduce the gold content of the dollar; that is, to trash the nation’s currency.”
http://mises.org/daily/6429/FDR-Sowing-the-Seeds-of-Chaos
Related posts:
Michael Scheuer: On Syria, Our interventionists ensure America’s luck is running out
Michael Hastings: A Non-Conspiracy Theory
"The Bank Was Saved, and the People Were Ruined."
Will IRS Find Your Small Foreign Bank Account?
Got grandparents? Four places where you can become a citizen.
It’s Jury Appreciation Day!
David Stockman Discusses "The Great Deformation"
How to Survive When Prices Double Every Day and a Half
Free Staters Tell Concord Police: Tanks, But No Tanks
Lower Taxes Tapped a Beer Revolution
Wendy McElroy: Death by Methodological Individualism
The Triumvirate of Modern Warfare
U.S. Constitution Created an Empire
Can You Pass The Terrorism Quiz? (Updated June 2013)
Letter from Shenzhen