Guerrilla Hoarding - Wendy McElroy - Mises Daily

Guerrilla Hoarding - Wendy McElroy - Mises Daily: "in 1933 when President Franklin D. Roosevelt signed Executive Order 6102, ostensibly as a measure to combat the Great Depression. The order commanded the American people (with a few exceptions) to relinquish all but a still-permitted $100 worth of gold coins, bullion, and certificates to the Federal Reserve in exchange for a payment of $20.67 per troy ounce. Less than a year later, the government raised the trade rate to $35 per troy ounce. Thus, the government reaped huge profits at the expense of private investors and savers — a.k.a. hoarders of gold."