“What bury me in a cold, cold ground?”

They died art coins here. Golden Storage in Fort Knok, (Photo Underwood Archives / Getty Images)

Getti images

In 1936, the United States Depositar was opened in Fort Knok, Kentucky, open. Open – no word. The Federal Government piled gold bars on gold bars in this huge brand new treasury deep in the country. The Army (Fort Knok) surrounded the adjustment, and the outside perimeter was a non-penior circle of mountains. No one has become unauthorized in this matter.

The bars arrived from President Franklin D. Roosevelt gold subtracting in 1933. Years. The great man presented him in March 1933. years and in his first part, as the president told the population of the nation that they had until the end of May to turn into every current of $ 20.

Lviv Share of this gold, this gold is countless non-numerous Americans in the ownership and down, was in coins that betrayed the United States. Yes, it had to be handed over for paper bill. All Eagles, Double Eagles, All this with Design and Tags Augustus Saint-Gadens Beaux that the Federal Government really had placed The American people had to be returned to the generations. For paper bill, Greenback. And then the Feders destroyed all art. They melted coins in the bars, they gave them a number like prison prisoners and buried everything in a cold, cold ground.

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“What bury me in a cold, cold ground?” The question If the Tasmanian devil, Bugs Bunny, was fairly in relation to the golden year to FDR’s growing, and all this gold was in their size, and in the United States in their size in its size, and in the United States States in their size in supporting human people in their greatness in their size that is in an accompanying person in their size. They called on the agricultural and industrial revolutions to their ACME. They were useful and seriously with the Americans, because they did.

Man seized him for Greenback, he melted and buried it? What gives?

Why did he do that, what did he bury it in the cold, cold terrain? In the service of theory. It was a great slowing down of economic slowdown, great depression in its absolutely terrible use in 1933. years, in good work, because people had a penchant for retention of gold over cash. The paper will never appreciate the value, so people could spend it. Gold could appreciate the value, so people can keep him. At a time when the exchange of money for goods and services slowed down or crawling, and production and living standards was decorated, FDR said, take all gold and bury him.

Never mind – that the United States did not have income tax not twenty before (1913. years) and that the top rates of that tax before 1932. years. one and by orderfrom 25 to 63 percent. It does not matter that the largest tariff in history came in its 1929-33. It does not matter that local property tax cleaned true charts in the early 1930s to 8 percent of GDP (one in twelve $ 1932 go to local government ??). It does not matter that the consensus that the United States should have low taxes and stable money – the consensus of the Economic Royal Nineteenth Century – is obviously shot at Smithereens by incredible policy development since 1929-33.

Did it throw it all, please. Since people keep gold, the economy can’t get up from the apartment on earth.

In other words, the FDR buried gold in the cold, cold, land because he had no idea – or he did not want to know – why the great depression continued. To date, we have a deposit of the United States’s area in Fort Knok as a life vessel for our misunderstanding of the largest economic accident of modern history, great depression. Feders should sell gold to Fort Knok for this reason. The place is a statue, a monument to terrible thinking about the difficult issue.

Hold him, after 1933. was a sharp economic recovery. And FDR didn’t think so. The third mandate violated the precedent, because he hooked George Washington, today he would remember as president since 1933-41, as well as the guy who tried, grandiosely, but failed to solve depression. Private production remains far from precedent 1940. years, as well as private employment. The World War II gave an FDR chance to change the subject. It would be more honorable that he had his wrong Judgment in the 1930s. Can we move on and sell gold now?