Unconstitutional Conduct: Confiscating Gold - Time To Return To Gold Standard
The below letter to the editor is by Robert "Bob" McDowell, Jr. He is a Professional Engineer and Geologist with over 50 years experience in creating drilling prospects, supervising drilling, well completion, production operation, and pipeline design for oil and gas including repair of problem wells. McDowell is a conservative and active in the Oklahoma Republican Assembly.
By Bob McDowell: Thanks to a column by Gene Curtis in the Tulsa, Oklahoma daily paper, others learned and I recalled that on on June 5, 1933, the U.S.A. was taken "off the gold standard" which had been established in 1879. It became illegal for any American citizen to own more than $100 worth of gold. The short story identified that on April 5, 1933, then newly inaugurated President Franklin Delano Roosevelt had announced that owners gold must surrender any gold that exceeded $100 in value to the government in exchange for paper or silver money. The story went on to say that the names of more than 1,000 persons believed to be hoarding gold were turned over to Justice Department agents who were under orders to locate the supposed hoarders and find, and confiscate, their gold.
Even at my young age in 1933, I remember how those who supported free enterprise mentality were aghast at this turn of events. In retrospect it seems that FDR (as he was then referred to by the media) had pulled the wool over a large percentage of the population in order to gain election to office. Unfortunately, as I recall, a majority of Americans did not realized at the time the future ramifications of this act, as well as other acts of the FDR administration. It is well documented that at least one of his cabinet members was an avowed Communist and others, in my recollection, were dedicated to their own personal agendas to radically change the Nation. (Kind of sounds familiar to today.)
Even then, the propaganda machine of the management of the Democrat Party had become adept at the 'personal attack' methods to discredit any and all who dared to oppose their move of the Nation towards socialism. Their methodology and conduct has increased and become more perfected in the decades since that time.
Back to the claim of "unconstitutional conduct." Under the U.S. Constitution as written and envisioned by the founders, the principal of personal freedom and property rights was intended to be sacred, and even established by GOD! Now by executive order a sitting president, FDR, had moved to force the population to surrender an item of intrinsic value.
Later, during one of the three additional terms to which FDR was elected, the move was to remove silver from the coined money, which is the situation today. The rational used was that the silver was 'needed for the war effort'. At the time there was published a postulation, proven over many times in the past, that 'bad money will always drive out good'. This did become the case as many individuals put aside their "silver certificate" paper money and the silver coins in their obsession. Unfortunately, the 'real money' has never returned, except for the copper penny, and proposals are coming out to end that.
Today, a more ominous agenda could be a plan to devalue our currency. After all, when the money is coined in valuable metal, or paper certificates backed by the metal, it is much more difficult to lower its value. In recent years the mint has come out with 'dollar' coins minted to look like gold. They were made too close to the size of the quarter and they have not caught on.
My preference has long been for the 'cartwheel' silver dollar. When finishing college in 1950, my first job was with an oil company and based in Denver. My orders were to go to Casper WY to the District office. To my surprise, and pleasure, dollar bills were not in circulation. All change of less than five dollars was in the dollar coin. These were heavy in the pocket, so the secret was to keep no more than four. There was no question of their value and they were easy to locate by feel in the pocket. They were older than the recent mint year mint, but they spent well.
Well I digress, my point is that our economy would be much better off if we would return to a monetary system based on Gold. For government hacks that may argue that need more than gold as a standard then incorporate silver or maybe even platinum. Precious metals would serve far better than our present standard based on "hotair, ink and paper."
"The U.S. dollar needs a sound monetary foundation, and the urgency is greater than ever. We will never rein in Washington’s spending and irresponsible, record-setting dollar creation by the Federal Reserve until we find a new standard of value that balances trade flows and gives our currency an intrinsic worth. - Gold Standard 2012 . Also, visit The Gold Standard Now
Tags: gold, gold standard, FDR, President, Franklin Delano Roosevelt Unconstitutional Conduct, Bob McDowell, Oklahoma, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
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| Bob McDowell |
Even at my young age in 1933, I remember how those who supported free enterprise mentality were aghast at this turn of events. In retrospect it seems that FDR (as he was then referred to by the media) had pulled the wool over a large percentage of the population in order to gain election to office. Unfortunately, as I recall, a majority of Americans did not realized at the time the future ramifications of this act, as well as other acts of the FDR administration. It is well documented that at least one of his cabinet members was an avowed Communist and others, in my recollection, were dedicated to their own personal agendas to radically change the Nation. (Kind of sounds familiar to today.)
Even then, the propaganda machine of the management of the Democrat Party had become adept at the 'personal attack' methods to discredit any and all who dared to oppose their move of the Nation towards socialism. Their methodology and conduct has increased and become more perfected in the decades since that time.
Back to the claim of "unconstitutional conduct." Under the U.S. Constitution as written and envisioned by the founders, the principal of personal freedom and property rights was intended to be sacred, and even established by GOD! Now by executive order a sitting president, FDR, had moved to force the population to surrender an item of intrinsic value.
Later, during one of the three additional terms to which FDR was elected, the move was to remove silver from the coined money, which is the situation today. The rational used was that the silver was 'needed for the war effort'. At the time there was published a postulation, proven over many times in the past, that 'bad money will always drive out good'. This did become the case as many individuals put aside their "silver certificate" paper money and the silver coins in their obsession. Unfortunately, the 'real money' has never returned, except for the copper penny, and proposals are coming out to end that.
Today, a more ominous agenda could be a plan to devalue our currency. After all, when the money is coined in valuable metal, or paper certificates backed by the metal, it is much more difficult to lower its value. In recent years the mint has come out with 'dollar' coins minted to look like gold. They were made too close to the size of the quarter and they have not caught on.
My preference has long been for the 'cartwheel' silver dollar. When finishing college in 1950, my first job was with an oil company and based in Denver. My orders were to go to Casper WY to the District office. To my surprise, and pleasure, dollar bills were not in circulation. All change of less than five dollars was in the dollar coin. These were heavy in the pocket, so the secret was to keep no more than four. There was no question of their value and they were easy to locate by feel in the pocket. They were older than the recent mint year mint, but they spent well.
Well I digress, my point is that our economy would be much better off if we would return to a monetary system based on Gold. For government hacks that may argue that need more than gold as a standard then incorporate silver or maybe even platinum. Precious metals would serve far better than our present standard based on "hotair, ink and paper."
"The U.S. dollar needs a sound monetary foundation, and the urgency is greater than ever. We will never rein in Washington’s spending and irresponsible, record-setting dollar creation by the Federal Reserve until we find a new standard of value that balances trade flows and gives our currency an intrinsic worth. - Gold Standard 2012 . Also, visit The Gold Standard NowTags: gold, gold standard, FDR, President, Franklin Delano Roosevelt Unconstitutional Conduct, Bob McDowell, Oklahoma, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 3:34 PM - Post Link
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Cross posted on The Gold Standard Now at http://www.thegoldstandardnow.com/featured-articles/484-unconstitutional-conduct-confiscating-gold-time-to-return-to-gold-standard
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