At 7:31 PM -0500 on 7/2/02, Harmon Seaver wrote:
>Wasn't the dollar backed by silver for quite awhile? There were definitely
> real silver dollars coined for quite awhile, and the dollar said
>something on it
> about silver certificate. Likewise many smaller coins had a high silver
>content
Duncan Frissell said:
By forcing Americans to turn in
their gold before devaluation, the Feds got more gold for less money.
But: the individual common folk couldn't be forced to turn in their gold if
the govmt didn't know they had any, right, since gold wasn't/isn't
t
Wasn't the dollar backed by silver for quite awhile? There were definitely
real silver dollars coined for quite awhile, and the dollar said something on it
about silver certificate. Likewise many smaller coins had a high silver content
-- this ended sometime during Vietnam, not sure the year. I
On Tue, 2 Jul 2002, Adam Back wrote:
> Just curious, but what was the rationale under which private possession
> of gold was made illegal in the US? It boggles the mind...
>
> Adam
Eric's comment are correct.
A bit more info. The US wanted to devalue the $ and substitute a general
gold standa
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At 8:53 PM +0100 on 7/2/02, Adam Back wrote:
> Just curious, but what was the rationale under which private
> posession of gold was made illegal in the US? It boggles the
> mind...
Roosevelt wanted to make the dollar a fiat currency, IIRC. Before
