They BANNED Gold Ownership in the U.S. — And People Still Think “It Can’t Happen Again” 😬
Everyone talks about “government overreach” like it’s some modern invention. But in April 1933, the U.S. government signed Executive Order 6102, which effectively forced most Americans to turn in gold coin, bullion, and gold certificates (with limited exemptions). People had to deliver it for $20.67 per troy ounce—or risk up to $10,000 in fines and up to 10 years in prison.
Then comes the part that still shocks people: in 1934, the Gold Reserve Act changed the official price of gold from $20.67 to $35/oz—a huge devaluation of the dollar versus gold.
Why this matters today (even if you’re not into gold)
This is the real lesson:
When a government’s balance sheet is stressed and policy goals demand it, rules can change fast—especially around money, reserves, and capital controls.
That doesn’t mean “panic” or “the same thing will repeat.” It means:
Don’t assume “it’s under my name” = it’s untouchable
Understand counterparty risk (banks, brokers, custodians)
Think about diversification (asset types + jurisdictions + liquidity)
Learn the difference between ownership and permissioned access
History isn’t ancient. It’s a warning label.
#Write2Earn #Gold #Macro #Fiat #Banking