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Sunday, April 15 - 6:12amSanction this postReply
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The tax imposed in 1863 wasn't on gold per se, but on currencies issued by state- and locally-chartered banks. The tax didn't apply to national banks (Wikipedia).

There is much more on this topic in The Creature from Jekyll Island.

(Edited by Merlin Jetton on 4/15, 6:18am)




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Sunday, April 15 - 8:06amSanction this postReply
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"it is amazing to me that the US population allowed this to happen"

No doubt the people doing the stealing (politicians) were taking advantage of envy of the rich. The newspapers are always full of stories about the "filthy" rich.

Merlin: Looks like an excellent book. I requested they make it available on Kindle.
(Edited by Mike Erickson on 4/15, 8:12am)




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Sunday, April 15 - 1:34pmSanction this postReply
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For a number of years I'd been frustrated that the gold price around 1975-1982 didn't make much sense, and frustrated that the free market gold price history was not available pre-1975. Duh, gold was illegal between 1933 and 1975.

Between 1834 and 1933 gold was fixed at a price of $20.74 a troy ounce.
Gold was illegal 1933-1975.
Gold price stabilized to about $400 a troy ounce in 1982.
Gold price was still about $400 a troy ounce in 2004.
Gold price went up 19.46% per year from 2004 to 2012, today priced at $1657 per troy ounce.

The Fed monetary base was $7 billion in 1933. Today it is claimed to be $2684 billion, making usd 383.43 times more common. The gold price has only increased by a ratio of 79.89 (1657/20.74).

The IMF says the US has 261,499,000 ozt gold (8,136 tons). If the Fed were to restore 100% backing, gold would be priced at $10,263.90 a troy ounce today (increased price ratio of 494.88 since 1933). The fed's gold reserve has not been independently physically audited since 1954. Of course the Fed would not allow people to claim their gold at $10,265.90 an ounce, as this would lead to an immediate bankrupting of the federal government and immediate calls for claim on all of its gold.



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Saturday, August 25 - 10:47amSanction this postReply
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BookTV show at FreedomFest about The Creature from Jekyll Island (15 minutes). If you miss the TV broadcast, the video will probably be available in a few days (at the first link).





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