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1933 April 5 Gold Confiscation (Presidential Executive Order 6102)

1933 April 5 Gold Confiscation (Presidential Executive Order 6102)

Who: President Franklin D. Roosevelt

What: Illegally using wartime powers during a time of peace, President Roosevelt made it illegal for US citizens to posses more than $100 in gold. Requiring that all US citizens turn all gold in excess of $100 into the Federal Reserve in exchange for paper currency.

Where: USA

Why: Forced the use of paper currency and the dependency of US citizens on the Federal Reserve banking system.

Player: Franklin D. Roosevelt

Player: JP Morgan, co-founder of the Federal Reserve

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