[OT] why was private gold ownership made illegal in the US?

jamesd at echeque.com jamesd at echeque.com
Tue Jul 2 22:28:23 PDT 2002


    --
On 3 Jul 2002 at 2:36, Anonymous wrote:
> However doing a straight devaluation was politically
> unacceptable at the time.  Because the dollar was pegged to
> gold, devaluing the dollar meant in effect increasing the value
> of gold in terms of dollars. This would represent a tremendous
> windfall to holders of gold.  And gold, by and large, is owned
> by the rich.
>
> At the time, the U.S. faced a significant chance of a 
> Communist/Socialist revolution such as had been seen in several
> other countries.  Class warfare was widespread, with armed
> violence between workers and management a common occurance.

Bullshit.

In the 1930s Stalin's servants, Foster and Ford, ran for
president, all the great and the good, the top intellectuals at
the top universities, all fulsomely backed them, and of course
they got votes down in the asterixs.

In America the communist threat was always conspiratorial.  Actual
support by the actual working class was as near to nonexistent as
makes no difference.

In the 1870s there was in America working class movement bent on
class warfare.  It utterly discredited itself with murder,
sabotage, and crime, and by the 1890s was dead as a doornail,
never to rise again.

Ever since then, socialism in America has been an elitist
movement, composed of the children of the rich and powerful.



 

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         James A. Donald
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