by Hugo Salinas Price
In March, 1861, the kind-hearted Czar of Russia, Alexander II, issued a proclamation which liberated the serfs of Russia. Up to that time, the serfs had not been allowed to leave the huge agricultural tracts of land owned by the aristocracy of Russia. The serfs were attached by law, to the place where they were born.
As an unintended consequence of Czar Alexander’s generosity, his action prompted millions of ex-serfs to leave the isolation of the Russian vastness and move to the cities, where they became a rootless proletariat.
* * * * *
In 1945, the United States emerged triumphant from World War II, totally intact. The American economy was vibrant. Gold reserves held by the Federal Reserve, amounted to some 25 or 26 thousand tons.
The War having ended, countries around the world, which had sent their gold to the US for safekeeping, began to repatriate their gold.