Most of us of a "certain age" remember our parents or grandparents at some time or another talking about the confiscation of privately-held gold that took place in America during the Roosevelt Administration. Others have read bits and pieces of this nasty episode in history books. But, there is nothing like having the Rats on Record, admitting what they did and why they actually did it, and thanks to other Americans (thanks for your part, Ron B. and Daniel Carr) here we have FDR spilling the beans:
To cut to the chase, start @ 15.30. The Federal Reserve "Bank" needed 6,000 tons of gold to remain solvent and ended up with 20,000 tons. It was our first instance of this kind of forced bailout of the central bankers, but not the last. Unfortunately.
Read that --- the Federal Reserve "Bank" foisted off on us in 1913 should have been liquidated in 1933 and the Board of Governors sent to prison.
Instead, FDR engaged in strong-arm racketeering under color of law to bail them out.
Now, perhaps you are all beginning to understand my fondness for the idea of exhuming FDR's corpse and burying his remains at sea.
Here is a helpful description of what actually occurred.