American History of Gold

Did you know that there was NO INFLATION in America between 1791 and 1932?
History of the price of gold and what it means.
THE GREATEST ROBBERY IN WORLD HISTORY!
Do you want to know who really owns and controls the world?

You'll find the answer in this article.

Year/ U.S. dollars per fine ounce of gold:

??/??/2008 The U.S invades Iran to keep them from pricing oil in EURO's.

THE REAL REASON WE WILL BE AT WAR WITH IRAN.

The U.S. Dollar is the standard currency of the world. All oil is priced and paid for with U.S. Dollars. This forces all the countries of the world to have US Dollars to pay for the oil they buy. Being the standard currency of the world has some benefits. When the world thinks you are the most stable currency, they invest in and keep that currency. Foreign investors buy our US treasury bills and invest in the U.S. stock market. This is in a large part how we finance our national debt.

Today, the Dollar is fast losing its reputation of being a stable currency. The Dollar has lost 40% of its value compared to the "Euro" since 2001. The Dollar is at a 30 year record low against most of the currencys in the world. This loss in value has been caused by the Federal Reserve printing trillions of dollars trying to keep the U.S. out of a depression. As more $ is in circulation, the value of $ goes down(inflation). The european "EURO" is emerging as the stongest currency in the World.

So what does this have to do with war with Iran? Iran is the worlds 2nd largest producer of oil. Iran is demanding to be paid for its oil with EUROs. And it is threatening to flood the world market with cheap oil! Why is this a bad thing for the US? By demanding Euros for payment, Iran will deal a huge blow to the USD. The US Dollar will lose its status as the standard currency of the world. Foreign nations will cut back or liquidate its holdings and investmensts in US dollars. In turn, this will cause a huge collapse in the dollars value and will cause a stock market crash as foreign investors liquidate their holdings. We will no longer have the ability to finance our huge national debt.

The U.S. cannot allow Iran to challenge the Dollar as the standard currency of the world. We cannot afford to lose all the foreign investment that is propping up the value of our Dollar. We also cannot allow Iran to sell the world cheap oil. Why? In 1971, the US dollar was taken completely off the gold standard. At that time Henry Kissinger was the secretary of State for the US government. He travelled the world making an arrangement with most oil producing countries. This was the deal: These countries had to agree to price all their oil in U.S. Dollars. They also had to agree to continually buy up some of our national debt. The amount they have to buy is based on their oil sales for the year. At this time, oil wasn't the big business that it is today. The U.S. was producing most of the oil we need here at home. The Arabs neede the U.S. business and they went along with it.

If Iran starts selling the world cheap oil, other oil producers will have to compete, they will no longer be able to buy as much of our debt. Our debt will be unsupported and will cause instability. If Iran floods the world with cheap oil, the Dollar will collapse. And now you know the rest of the story.


THE GOLD SEIZURE ACT:
was signed on April 5, 1933 by U.S. President Franklin D. Roosevelt. It prohibited the "hoarding" of privately held gold coins and bullion in the United States. The Order was given under the auspices of the Trading with the Enemy Act of 1917, as recently amended. The government required holders of significant quantities of gold to sell their gold at the prevailing price of $20.67 per ounce. Shortly after this forced sale, the price of gold from the treasury for international transactions was raised to $35 an ounce. The U.S. government thereby devalued the dollars (which it had just forced citizens to accept in exchange for their gold) by 41% of its former value.

The order specifically exempted "customary use in industry, profession or art"--a provision that covered artists, jewelers, dentists, and electricians among others. The order further permitted any person to own up to $100 in gold coins (equivalent to about $1,550 as of 2006).

Section 9 of the Order noted the punishment for failure to comply could include a fine of up to $10,000 or up to ten years in prison. Nevertheless, anecdotal accounts later related that many persons who possessed large amounts of gold simply ignored the order and hid their gold until the Order ceased to be in effect.

The government held the $35 per ounce price until August 15, 1971 when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus abandoning the gold standard.

On the evening August 15, 1971 in New Orleans, Louisiana, James U. Blanchard, III and Evan R. Soule', Jr. founded the National Committee to Legalize Gold (NCLG) in response to President Nixon's announcement that the United States was abandoning the gold standard. Over the next several years, the NCLG waged a national campaign to enable American citizens to again own gold in any form. The campaign included repeated national mailings and regional press conferences in which the U.S. Treasury Department was challenged to act when an illegal bar of gold bullion was displayed to the newsmedia. The NCLG hired a 1926 Steerman bi-plane to continuously fly over Washington, D.C. during Nixon's Inauguration in January 1973 with a banner that read "LEGALIZE GOLD" -- an action which received national publicity. In New Orleans in February 1974, the NCLG held the largest (up to that time) privately-sponsored monetary symposium entitled "Investing Towards Freedom". That symposium further galvanized actions in support of proposed Congressional legislation to legalize private ownership of gold in any form. Several decades later, derivatives of that first symposium continue every Fall in New Orleans.

The limitation on gold ownership in the U.S. was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars and certificates by an act of Congress codified in Pub.L. 93-373 [1] [2] which went into effect December 31, 1974. P.L. 93-373 does not repeal the Gold Clause Resolution of 1933, which makes unlawful any contracts which specify payment in a fixed amount of money or a fixed amount of gold. That is, contracts are unenforceable if they use gold monetarily rather than as a commodity of trade.

The monetary system of the United States at the time of the Depression could not sustain inflation very long because the country was on a gold standard. If people sensed that the government was printing too many paper dollars, by law they could redeem those dollars from the government’s store of gold. Moreover, gold coins circulated along with silver dollars, half-dollars, quarters, and dimes.

If people were exchanging their dollars for gold, then the government’s own gold supply would be diminished. Since the gold standard included requirements that the country’s money supply have at least a 40 percent gold backing, a drain on gold reserves would have forced the government to stop printing so many dollars. Therefore, the plans of the New Dealers ran headlong into the reality of the gold standard and its check on inflation.

Thus, early in his presidency, on April 5, 1933, Roosevelt signed Executive Order 6102, which ordered people to turn in their gold to the government at payment of $20.67 per ounce. While there were some exceptions for dental use, jewelry, and artists and others who used gold in their jobs, most people were not covered. (Individuals could hold up to $100 in gold coins, but the government confiscated the rest.) Furthermore, the president’s order nullified all private contracts that called for payment in gold, something that led Sen. Carter Glass of Virginia to declare that the whole thing was “dishonor.”

Roosevelt based his order on the 1917 Trading with the Enemy Act, which gave the president the power to prevent people from “hoarding gold” during a time of war. Of course, the United States was not at war in 1933, but Roosevelt claimed that it was a “national emergency” and Congress and the courts meekly bowed to the executive.

In earlier times, such an order would have been met with outrage, as freedom-loving Americans would have rebelled against such a confiscatory order from Washington. Certainly, no president before the Progressive Era would have ordered such action for fear of impeachment or being voted out of office at the next election. However, by the time Roosevelt took office in 1933, the courts already had upheld government restrictions on freedom of speech (especially during World War I) and Congress had begun the unconstitutional delegation of some of its lawmaking powers to the executive branch.

Furthermore, given the economic calamity that prevailed when Roosevelt issued EO 6102, many Americans had become convinced that economic and political freedom meant freedom to starve and were willing to give the president whatever he wanted.

Roosevelt attempted to put “teeth” in his order by means of Section 9 of the order, which said that anyone who refused to comply could be fined as much as $10,000 or be sentenced to a maximum of 10 years in prison. (Most Americans did not resist, although some simply hid their gold until the order was repealed 41 years later.) To understand the magnitude of Roosevelt’s actions against individuals, he was threatening serious fines and prison terms against anyone who held on to what historically had been the money of the American people.

Although Roosevelt made it illegal for Americans to redeem their dollars for gold, he also realized that he could not make the same threats against people from other countries. Therefore, representatives of foreign governments still could trade in their dollars for gold, although shortly after issuing his order, Roosevelt increased the price to $35 an ounce. However, given the state of international trade at the time, foreign holdings of dollars were relatively small, something that would not be the case a half century later.

The small burst of inflation generated by Roosevelt’s move did create a bit of an economic boom, as usually occurs in the early stages of inflation, although unemployment remained at about 15 percent. However, Roosevelt’s twin pillars of what historians call the First New Deal were causing havoc among some producers and entrepreneurs, who realized that the NIRA and AAA were stifling entrepreneurship and productivity. In 1935, the U.S. Supreme Court declared both the NIRA and AAA unconstitutional, but by then the New Dealers had shifted from endorsing business cartels to promoting labor cartels through the unionization of workers.

When the U.S. Supreme Court in 1937 upheld the 1935 Fair Labor Standards Act (or Wagner Act), the inflation-induced “boom” ended soon afterward and the economy tumbled into a recession within a depression, a first for the U.S. economy, as unemployment climbed to nearly 20 percent. But while Roosevelt’s seizure of privately held American gold failed to regenerate the economy, it did lay the foundation for further economic deterioration.

The 1971 collapse of the dollar
Following the Bretton Woods agreement of 1944, currencies were fixed against each other and the dollar still could be redeemed by foreign governments at $35 an ounce. For about 20 years after World War II ended, the arrangement seemed to work. However, in order to pay for the vast expansion of government welfare programs associated with Lyndon Johnson’s Great Society and the escalating Vietnam War, the Federal Reserve System aggressively expanded the supply of money, which not only depreciated the currency at home but also flooded the rest of the world with dollars.

France’s government, under Charles de Gaulle, recognized the situation at hand and began to redeem its dollars in U.S. gold, which was stuck at its 1933 price. While U.S. representatives at first denied there was a problem, by mid-1971 U.S. gold reserves were disappearing quickly, leading Richard Nixon to close the gold window and impose wage and price controls. While some price controls were lifted within the year, oil and gasoline controls remained through the decade, causing untold havoc in the economy.

Conclusion
The presidency of Franklin Roosevelt was characterized by arrogance and outright fraud. Unfortunately, much of the Roosevelt legacy stands. Many historians and economists continue to insist that his economic programs “saved capitalism” when, in fact, they were based on confiscation of property and on the false notion that inflation is the source of prosperity.

Today, the U.S. monetary system is adrift in inflated dollars. Gold prices at this writing are nearly $650 an ounce and the dollar has been falling against other international currencies. The only constraints on the Federal Reserve System’s determination to continue this inflation are political, and the vast majority of politicians and Americans have come to believe that the Fed creates prosperity when it creates new dollars.

"I believe that banking institutions are more dangerous than standing armies....if the American people ever allow private banks to control the issue of currency....first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered."

- Thomas Jefferson 1743-1826

The Atlantic Richfield Oil Company heritage dates to 1866; it became part of the Standard Oil of New York(SONY)trust in 1874(owned by the Rockefellers). Today, it is a subsidary of British Petrolium(BP). Notice how all the old Amaco Standard(Standard Oil) gas station are now BP stations?

THE FEDERAL RESERVE SYSTEM, THE GREATEST ROBBERY IN AMERICAN HISTORY.
Anyone who understands "The Fedreral Reserve System," knows that this private bank was owned and created by Rockefeller, Rothschild, J.P morgan and Wartburg. The Federal Reserve Bank is not a publicly traded corporation and is therefore not required by the Securities and Exchange Commission to publish a list of its shareholders! It's impossible to currently research who owns our money system! The U.S. taxpayers spend 1 trillion dollars a year in interst to the privately owned, for profit banking cartel know as the "Federal Reserve."

The Federal Reseve…The worst legislative crime of the ages is perpetrated by this banking bill…The banks have been granted the special privilege of distributing the money, and they charge as much as they wish…This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private...There should be no legal tender other than that issued by the government…The People are the Government. Therefore the Government should, as the Constitution provides, regulate the value of money." (Congressional Record, 1913-12-22)

Many contend that the Federal Reserve Act is unconstitutional. Congressman Ron Paul, for example, argues that: "The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy."

If this oil-currency-war theory is a delusion, the U.S. administration can easily discredit it -- by declaring that the USA has no objection if oil exports to the Euro Zone are denominated in euros.