A closer look
In 1933, the land of the free decided that owning a yellow rock was suddenly a federal crime punishable by up to ten years in prison. Under Executive Order 6102, FDR forced Americans to surrender their gold coins and bullion to the Federal Reserve for a measly $20.67 an ounce. Once the government had seized all the public's wealth, they immediately revalued gold to $35 an ounce, magically devaluing the dollar and printing massive amounts of new currency against the newly stolen hoard. It was arguably the greatest government-mandated heist in modern financial history.
