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A new discovery here, but, page 27...
http://quod.lib.umich.edu/p/ppotpus/...+reserve+notes
Pretty interesting that 300,000,000 of gold was withdrawn and earmarked for a "foreign account."
Page 28 describes clearly what FDR did to remove the gold...He used the trading with the enemy act... I will report more as I have time to read...
The bottom of page 29 is intriguing... "but after the passage of the Emergenct Banking Acot of March 9, 1933, it became evident that they (emergency demand notes) would not be needed, because the Act made possible the issue of the necessary amount of emergency currenct in the form of Federal Reserve banknotes which could be based on any sound assets owned by banks
Last edited by mikecz; 02-21-13 at 04:23 PM.
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