Garimpiero

Vietnam Suspends Gold Imports, Follows FDR's Great Depression Lead

Taking his cue from Keynes, who had advised that to relieve unemployment, the money supply could be secretly increased before people would realize the full inflationary effect, FDR increased the money in a thoroughly immoral fashion- he said that Americans were "hoarding" their money (after all, they were paid in gold, or receipts for same so how could they be accused of "hoarding" anything? For his part, FDR had adopted the Democrat Party's plank to preserve the gold standard during his 1932 election campaign) demanded that Americans turn in their gold for 20 fiat dollars to the ounce and immediately boosted the money supply (his version of Helo Ben)by changing the exchange rate to $35 to the ounce(the exchange privilege now extended only to foreign dollar holders Imagine- selectively screwing your own people.
It is interesting that Communist Vietnam has not so far tried to confiscate the people's gold, though they too have resorted to the false charge of "hoarding" (what is one supposed to do- sit there as the Central Bank inflates its ass off?) Perhaps the government realizes that people who so recently threw off the yoke of imperialism may not take kindly to such transparent trickery and take up arms again. Americans, who have even allowed their firecrackers to be confiscated on the Fourth of July, appear pretty tame!