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Category: RJ Hamster’s Retail/Consumer Blogs and Posts

RJ Hamster

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April 06, 2023

WORDS OF WISDOM

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RJ Hamster's Retail/Consumer Blogs and Posts

FDR’s Other ‘Day of Infamy’: When the U.S. Seized…

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FDR’s Other ‘Day of Infamy’: When the U.S. Government Seized All Citizens’ Gold

Larry Reed

Ninety years ago, Franklin Roosevelt told Americans they had less than a month to hand over their gold or face up to ten years in prison.

December 7, 1941 will forever be remembered as, in the words of Franklin Delano Roosevelt, “a date that will live in infamy.” Another infamous date is April 5, 1933—the day that FDR ordered the seizure of the private gold holdings of the American people.

By attacking innocent citizens, Roosevelt bombed the country’s gold standard just as surely as Japan bombed Pearl Harbor.

On this 90th anniversary of the seizure, it behooves us to recall the details of it, for multiple reasons: It ranks as one of the most notorious abuses of power in a decade when there were almost too many to count.

Executive Order 6102 - FDR

It’s an example of bad policy imposed on the guiltless by the government that created the conditions it used to justify it. And the very fact of compliance, however minimal, is a scary testimony to how fragile freedom is in the middle of a crisis.

Suddenly on April 5, 1933, FDR told Americans—in the form of Executive Order 6102 — that they had less than a month to hand over their gold coins, bullion and gold certificates or face up to ten years in prison or a fine of $10,000, or both.

After May 1, private ownership and possession of these things would be as illegal as Demon Rum. After Prohibition was repealed later the same year, the sober man with gold in his pocket was the criminal while the staggering drunk was no more than a nuisance.

Hoarding gold was preventing recovery from the Great Depression, FDR declared. Government (which caused the Depression in the first place) had no choice, if you can follow the logic, but to seize the gold and do the hoarding itself.

But of course, the big difference was this: In the hands of the government, huge new gold supplies could be used by the Federal Reserve as the basis for expanding the paper money supply.

The President who had promised a 25 percent reduction in federal spending during his 1932 campaign, could now double spending in his first term.

What evidence suggested Americans were “hoarding” gold? Roosevelt pointed to a run on banks that immediately preceded his April 5 seizure decree.

Indeed, people were showing up at tellers’ windows with paper dollars demanding the gold that the paper notes promised.

But Roosevelt had prompted the bank run himself!

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On March 8, three days after succeeding Herbert Hoover as the new President, FDR declared the gold standard to be safe. After all, America’s gold reserves were the largest in the world.

Then out of the blue, on March 11, the President issued an executive order preventing banks from making gold payments.

The message was clear: In spite of its campaign pledge to protect the integrity of the currency, this was an administration intent on spending and printing like none before. Citizens who wanted to protect their savings and financial assets suddenly had every good reason to find and keep whatever gold they could get their hands on.

James Bovard writes in “The Great Gold Robbery,”

Roosevelt was hailed as a visionary and a savior for his repudiation of the government’s gold commitment. Citizens who distrusted the government’s currency management or integrity were branded as social enemies, and their gold was seized. And for what? So that the government could betray its promises and capture all the profit itself from the devaluation it planned.

Shortly after Roosevelt banned private ownership of gold, he announced a devaluation of 59 percent in the gold value of the dollar. In other words, after Roosevelt seized the citizenry’s gold, he proclaimed that the gold would henceforth be of much greater value in dollar terms.

Dentists, jewelers, and industrial users were allowed to acquire gold to meet their “reasonable needs.” If you had a gold tooth, the government did not yank it out.

But if you possessed more than $100 in monetary gold (coin or notes denominated in the yellow metal) after May 1, 1933, you were a villainous lawbreaker until private gold ownership was legalized four decades later.

With the passage of the Thomas Amendment to an agricultural bill on May 12, 1933, vast new presidential powers over money were affirmed by Congress. But even some of FDR’s own party still had a conscience. Democratic Senator Carter Glass of Virginia solemnly and honestly lamented,

It’s dishonor, sir. This great government, strong in gold, is breaking its promises to pay gold to widows and orphans to whom it has sold government bonds with a pledge to pay gold coin of the present standard of value. It is breaking its promise to redeem its paper money in gold coin of the present standard of value. It’s dishonor, sir.

When FDR followed up in June by abrogating the gold clauses in both private and government contracts, he asked blind Oklahoma Senator Thomas Gore, a fellow Democrat, for his opinion. Gore had lost his eyesight at the age of 12 but he saw right through FDR on this matter. He famously replied, “Why that’s just plain stealing, isn’t it, Mr. President?”

In his book, Economics and the Public Welfare, A Financial and Economic History of the United States, 1914-1946, the great economist Benjamin Anderson recalled Senator Gore’s words on the Senate floor:

Henry VIII approached total depravity, as nearly as the imperfections of human nature would allow. But the vilest thing that Henry ever did was to debase the coin of the realm.

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Many Americans were cowed by government threats to do the “patriotic” thing and turn in their gold as Roosevelt mandated.

But true to the rugged individualism and defiance of tyranny ingrained in our culture, FDR’s order prompted widespread noncompliance. Best estimates, suggest that for every one dollar in gold that Americans relinquished, they quietly kept three.

If the federal government tried today to seize the gold holdings of private American citizens, how much do you think we would turn over?

Call me a scofflaw if you want, but it would NOT get its hands on mine.

This article was authored by Larry Reed and originally appeared at the Foundation for Economic Education.

Lawrence W. Reed is FEE’s President Emeritus, Humphreys Family Senior Fellow, and Ron Manners Global Ambassador for Liberty, having served for nearly 11 years as FEE’s president (2008-2019). He is author of the 2020 book, Was Jesus a Socialist? as well as Real Heroes: Incredible True Stories of Courage, Character, and Conviction and Excuse Me, Professor: Challenging the Myths of Progressivism. Follow on LinkedIn and Parler and Like his public figure page on Facebook. His website is www.lawrencewreed.com.


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RJ Hamster's Retail/Consumer Blogs and Posts

MNML Golf Co.

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Did you know that the #1 failure in all bags is the zipper?

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After the first model of the bag was made, Sam asked the factory why we were the only company using 100% magnetic closures.

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RJ Hamster's Retail/Consumer Blogs and Posts

BREAKING: Jill Biden ENDS It | Donald Trump Prison…

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Miami MD

You probably know by now that our Spring Clearance Sale is in full swing. And in case you didn’t, you can take 25% off everything now through April 9 (Easter Sunday).

Either use this link to grab your 25% off discount – or use code SPRING25 at checkout.

Now with that being said…

I always like to remind you that you can get a BIGGER discount when you buy a 3, or 6-bottle bundle.

Take our Total Beauty Matrix for example.

Normally, a bottle of Total Beauty Matrix is $69.

But when you buy a 6-pack, AND use code SPRING25 at checkout, you can get each bottle for just $45.

That’s a discount of $24 per bottle!

And when you apply that to a 6-bottle bundle, you save $144…

Or close to 35% off!

And you can do this for Total Beauty Matrix, Lift & Firm Cream, Intensive Eye Repair, Dark Spot Corrector…

What I’m trying to say is it’s a great time to stock up on anything you need. Or try something new you’ve had your eye on.

Because our products are made with ingredients that can near-erase your most visible signs of aging.

That includes your wrinkles, your dark spots, your crepey skin, and under-eye bags.

It also means skin so smooth, soft, and moisturized… you won’t be able to stop touching your face.

You might even get some compliments from your boyfriend or husband 🙂

So if you need to stock up on anything…

Use this link to get 25% off your entire order (or use code SPRING25 at checkout).

Your friend in beauty & health,

– Dr. J

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It’s our mission to build a strong community centered around skin health, inner beauty, confidence, and most importantly – you! We love to discover extraordinary and useful products and share them with you! We love to help people learn how to take years from their skin by simply choosing the right products that they use in their day-to-day life. Every day we are building and strengthening partnerships with companies and missions that are ethically and environmentally responsible. We particularly love working with artisans, makers, and small businesses because through their passion and their craft they help make the world a better place. As much as we care about your skin, we also care about your privacy. MiamiMD is owned and operated by MiamiMD. We are committed to advising you of the right to your privacy, and strives to provide a safe and secure user experience. Our Privacy Policy explains how we collect, store and use personal information, provided by you on our website. It also explains how we collect and use non-personal information. By accessing and using our website, you explicitly accept, without limitation or qualification, the collection, use and transfer of the personal information and non-personal information in the manner described in our Privacy Policy. Please read this Policy on our website(s) carefully, as it affects your rights and liabilities under the law. If you disagree with the way we collect and process personal and non-personal information, please do not use this website. This Policy applies to this website as well as all webpages Company hosts. It regulates the processing of information relating to you and grants both of us various rights with respect to your personal data. It also informs you of how to notify us to stop using your personal information. We are located in the United States of America. You may be located in a country that has laws which are more restrictive about the collection and use of your personal information. However, by using our website, you agree to waive the more restrictive laws and agree to be governed by the laws of the United States of America. If you wish to view our official policies, please visit our website.

RJ Hamster's Retail/Consumer Blogs and Posts

OGEE

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Shoff Promotions

Hi,

Happy Easter and Happy Passover.

Our Next Shoff Promotions COMIC BOOK and SPORTS CARD SHOW is

SUNDAY APRIL 23 **9:30am-3pm** at the Annandale Virginia Fire House Expo Hall 7128 Columbia Pike 22003

The spacious 6,000 sq ft Hall will again be filled with over 60 tables of Top Area Dealers with Gold, Silver, Bronze and Modern Age Comic Books, Nonsports Cards -Pokemon, Magic etc. Super Heroes Toys, PLUS Baseball, Football, Basketball and Hockey cards vintage to the present “Hot” cards graded /raw and sports memorabilia and Hobby Supplies of all types & some old Rock LPs and CDs Too. Admission still $3 cash; 12 and under Free. with paid Adult Adm.

*** Show Info: shoffpromotions.com

SEE YOU- SUNDAY APRIL 23 in ANNANDALE

Nick

Shoff Promotions

***Show Promotion since 1976***

pnshoff@aol.com

Phone 301-318-4464

Shoff Promotions | Shoffpromotions.com

RJ Hamster

A discount on select chairs and furniture for your…

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‡ Valid online at staples.com® only. Purchase ink, toner and/or drum printer cartridges in one transaction and earn 30% back in Staples Rewards®. PLUS, get an extra 5% back in rewards if you purchase by 1-hour pick up on eligible sku’s. Membership number must be supplied during purchase to receive benefits. Excludes Daily Deals and clearance items. Limit 12 units per promotional period, nontransferable. Coupon may be used up to two times by a customer within the promotional period. Offer is subject to change or cancellation at any time. Standard percent back in Staples Rewards will be excluded. Price eligible is amount paid at checkout after application of all promotions, coupons, instant savings and rewards redemptions and does not include tax or shipping. Customer may only qualify for one Rewards Back promotion in a single transaction. Staples Rewards are issued online monthly in increments of $5. Rewards expire the last day of the month following the month in which they are issued and cannot be redeemed after the expiration date. Monthly balances of less than $5 will roll over through the end of the following calendar quarter. Unissued rewards will expire at the end of the following calendar quarter unless a qualifying purchase is made during that rollover period. For full program details, visit staples.com/rewards. Not valid on prior purchases or purchases made with Staples® Procurement or Convenience Cards. Coupon value applied pre-tax. Expires 4/8/2023.

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