“What about you bury me in the cold, cold soil?”

In 1936, he opened the Fort Knox in Fort Knox in Kentucky. Opened – not the Mot juste. The federal government pushed a golden bar at a gold bar at this huge brand new dome deep on the ground. An army base (fort knox) surrounds the regulation and the external circumference was an impenetrable mountain cycle. No one was authorized to reach these things.

The bars came from President Franklin D. Roosevelt, the gold seizure of 1933. The great man entered the office in March 1933 and in his first act, as the president, told the nation’s residents that they had until the end of May to return to all hands.

The share of the lion of this gold, this gold, which was legally owned by countless Americans above and below the country, was in coins issued by the United States. Yes, this had to be delivered for paper. All the eagles, the double eagles, all with Augustus Saint-Gaudens Beaux-Arts plans and signs that the federal government really had trad The American people for generations had to return. For a paper, a green. And then the Feds destroyed all the art. The coins melted in bars, sealed them with a number like prisoners and buried everything in the cold, cold soil.

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“What about you bury me in the cold, cold soil?” THE inquiry That the devil of Tasmania put in Bugs Bunny is fair in relation to the gold of the American people, the saved gold that was part of their daily lives, smoothing out trade and a tool for investment (before the decade they called their agricultural and industrial revolutions. Great.

Dude seized it for green breadbacks, put it down and buried it? What does it give?

Why did he do it, what did he bury it in the cold, cold soil? In the service of a theory. This was that the huge economic deceleration, the great recession in its absolutely scary threshold in 1933, was a good place because people preferred to keep gold over cash. The paper will never appreciate with value, so people could spend it. Gold can appreciate value so that people can accumulate it. At a time when the exchange of money for goods and services slowed down not to detect, and the production and standard of living had kept, the FDR said it was taking all gold and buried it.

It does not matter – that the United States had no income tax not twenty years ago (in 1913) and that the top tax rate last year, 1932, had increased one and a half offrom 25 to 63 %. It doesn’t matter that the biggest invoice in history came in its own 1929-33. Doesn’t it matter that local ownership taxes really increased from charts in the early 1930s – to 8 % of GDP (one in the twelve valuable $ 1932 dollars going to goofs in local government?). It does not matter that the consensus that the United States should have low taxes and fixed money-the consent of the economically huge nineteenth century-obviously was shot in Smithereens by the incredible political developments of 1929-33.

Pour all this aside, please. Because people accumulate gold, the economy cannot be raised from level to the ground.

In other words, the FDR buried gold in the cold, the cold, the ground because it had no idea – or did not want to know – because the great recession was happening. We have, to date, The United States Bullion Staveitor in Fort Knox as a living covenant for the misunderstanding of the greatest economic disaster of modern history, the great downturn. Federals should sell gold in Fort Knox for this reason. The place is a statue, a monument to the terrible thought of a serious issue.

Keep it, there was a strong economic recovery after 1933. FDR himself didn’t think so. He broke the previous one for a third term in 1940 because he knew that he had honored George Washington, we will remember today, as president from 1933-41, as the press he tried, granddaughter, but failed to solve depression. Private production was still far from the previous one in 1940, as was private employment. World War II gave the FDR the opportunity to change the issue. Would be more commendable if he had the property of the incorrect diagnosis of the 1930s. Now we could move on and sell gold?