Wednesday, May 4, 2016

The Little Known Facts about FDR's 1934 Silver Confiscation

FDR's gold confiscation story of 1933 is well known, less well known is his silver confiscation of 1934.
He then points me to an article which informs:

Executive Order 6814 is not a fictional future act of government, like the passing of the211th, 212th and 213th Amendments to the Constitution, but an actual Presidential Order by Franklin Delano Roosevelt in 1934.
The order dated August 9, 1934, was entitled Executive Order 6814 Requiring the Delivery of All Silver to the United States for Coinage and required all persons to deliver silver to the U.S government pursuant to the Silver Purchase Act of 1934, subject to certain exemptions....
People turning in their silver got $1.29 an ounce. Payment was made in the form of “standard silver dollars, silver certificates, or any other coin or currency of the United States.” There was a catch however; there was fee of 61 8/25 percent (61.32%) taken from the $1.29 an ounce for “seigniorage, brassage, coinage, and other mint charges.” After the fee, it worked out to a payment of about fifty cents an ounce.
How Much Silver Was Confiscated?
1935: 112,301,335 ounces
1936: 650,452 ounces
1937: 68,777 ounces
1938: 17,361 ounces...
How Did The Government Know Who Had Silver?
While the U.S. government could not have known of all of the silver “situated in the United States”, silver researcher Charles Savoie notes that the U.S. kept a document listing the “Hoarders of Silver”. The document showed individuals who held “spot silver and futures contracts” in amounts over 50,000 ounces of silver. You can see the list by clicking here...
 When Did The Confiscation End?
The Silver Purchase Act of 1934 expired on December 31, 1937


  1. Thank you so much for posting this RW(and Louis Cammarosano)- I had no idea.

    It's both enlightening and depressing.

  2. The true horror of this is how the rabble just flatlined in response. It was just like their reaction to Obama installing Nazis in Ukraine, Hillary flattening Libya, .1% interest rates and universal state spying.

    zzzzzzzzzz. Hey, when are the Kardashians on?

    1. But, many are aware that the Right Sector "Nazis" replaced a democratically elected White Christian president with a Jewish President and a Jewish prime minister. The fact is these "Nazis" are just unemployed punks who will do anything for a free beer.

    2. "zzzzzzzzzz. Hey, when are the Kardashians on?"

      Sad how so many have been caught up in the circus.

  3. Moral of the story - don't buy paper futures contracts on ANYTHING, as the greedy POS government will forcibly steal it whenever it suits their needs. Buy physical and you have no counter party risk, and you can always hide your stack elsewhere...

    1. Sage advice! Everyone holding paper should pony up the modest minting charges and delivery charges and take possession of their metals.

      And if everyone did that, the price of metal would break through the manipulated and rigged price, and soar to the true value based on the market

    2. huh?

      "THIS DAY 83 YEARS AGO" - "The order dated August 9, 1934"

      remains about 16 months in the future

  4. 83 years confiscation
    August 9, 1934...silver confiscation