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88 Years Ago Today (APRIL 5TH, 1933), FDR Banned Gold. Will A Bitcoin Ban Be Next?



Today is the 88th anniversary of Executive Order 6102, signed by President Franklin Delano Roosevelt, “forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States.” The order was one of the several disastrous responses to the Great Depression that succeed in escalating the financial crisis. Later in the year, the US Congress would pass a resolution retroactively supporting the legislation, however, it was the determined autocratic leadership of FDR that gave way for these unprecedented measures.

It would be a crime for Americans to hold gold for over forty years when President Gerald Ford reversed the order in 1974.


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