Contumacious
Radical Freedom
Its a default. The united states has never defaulted before..
Incorrect.
The United States declared bankruptcy in 1935.
The Federal Reserve Board had issued to many notes whick back then were redeemable in Gold and Silver.
There were so many notes in circulation that the treasury could not redeem them. FDR forced SCOTUS to declare that fedgov didn't have to redeem the notes domestically.
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Weve already discussed this you tool. That market decides a default. One or a few persons refusal to accept their form of reimbursement doesnt mean the entire market had judged the institution to be insolvent, which is the definition of a default.
Gold owners as criminals
The evil which Field predicted came into full force during the Franklin Roosevelt administration. In the midst of his New Deal, the federal government committed one of the most heinous acts in history when it nationalized gold in the United States and declared it a felony for any American to own gold in the future. Americans were required to turn their gold in to the federal government and receive in return the federal governments paper money, which the government had recently devalued.
Today, given that many people believe that the federal government should have the omnipotent power to control and regulate peoples economic activities and their possessions, that might not come as such a surprise.
In the early 1930s, however, that the federal government could do what socialist and communist governments were doing in Germany, Italy, and the Soviet Union came as a mighty shock to many peoples understanding of Americas heritage of private property and economic liberty. At that time, many Americans still believed in Americanism in the principle that a persons possessions were his and that the government could not arbitrarily take them away, as governments were doing in Nazi Germany, fascist Italy, and the communist Soviet Union.
Moreover, not only was gold ownership declared illegal, the government went one step further: it nullified all gold clauses, both in private and government contracts.
Jesus christ your just pissed that the courts essentially gave congress control over the monetary system. No one lost any buying power, no one lost any wealth. Your like a little kid that wants to do everything his parents tell him he cant for no reason. "I want money backed by gold", well too damn bad you fucking loon.
As always, Heil Hitler.
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