Bob525D

I always hesitate to comment on things like this because I freely admit I dont know enough about this stuff, you are most likey more of an expert than me due to your line of work.

At the end of the day there is no point worrying about this stuff I live for the now, as long as I have my health (+the ones i care about), a roof, food, drink and a nice car I am happy.... oh, and my PS3.

v_therussian

Oh, btw I just checked out the link and it looks like the "confiscation" was only of the gold coins that were still in circulation at the time. And the reason that they did it - and I'm just skimming the surface here - is because the value of the dollar plummeted, but the gold coins' value went up, so to successfully complete to move away from the gold standard currency, the Fed needed to take all the gold coins out of the circulation - makes sense, actually I'm sure those who wanted to keep a few coins for their collections, did so with no problems, and I don't think it was anything like cops busting people's doors to search houses without warrants and take any and all the gold they found. They most likely made it illegal to buy the gold coins for their weight in gold for some time and made it so that the gold coins could only be used at their face value - whatever it was, a dollar, quarter... so basically, I don't think there was a "nation-wide confiscation" going on - it was just a necessary move to save the economy when the dollar was loosing it's value faster and faster due to all the New Deal programs (that required "printing" more and more money) and Fed having (maybe wanting - who knows...) to take the dollar off the gold standard to ensure that gold did not lose it's value WITH the dollar and that the national gold reserves of the U.S. remained as/more powerful.