by Martin Armstrong
Armstrong Economics
QUESTION: I made a bet that a friend was wrong that Roosevelt also confiscated silver. I never heard of that, only gold. He said I should write to you and you will decide who wins.
[…] ANSWER: Sorry, you lose. He must have been at one of my conferences when we discussed that if he told you to ask me. Most people have never heard that Roosevelt also confiscated silver – not just gold. On August 9th, 1934, U.S. President Franklin D. Roosevelt implemented the seizure of all silver situated in the continental United States with Executive Order 6814 – requiring the Delivery of All Silver to the United States for Coinage. This was the same abuse of executive power as Executive Order 6102, which FDR signed on April 5th, 1933, “forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States” with some differences.