03-24-2019, 09:13 AM
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Senior Member
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Join Date: Mar 2017
Location: ABQ, New Mexico
Posts: 36,633
Thanks: 3,506
Thanked 136,542 Times in 22,784 Posts
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When Franklin D. Roosevelt became president, he aimed to end the economic depression. The problem? There wasn't enough gold in the Treasury to print more bills, increase spending, and stimulate the economy. In this pursuit, he banned citizens from owning gold (1933). Citizens were required to turn in their metals for $20.67 per troy ounce. Unfortunately, the plan did not seem to end the Great Depression, which lasted until 1939.
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