I was trying to think of something to discuss when i was on the net and came across an article about the feds confiscating some very rare coins that were minted during the reign of President Franklin Roosevelt. Apparently the coins are worth approximately $8 million dollars a piece, making the collection worth about $80 million. But nothing about that was at all interesting until this very interesting revelation: They were made when the country's currency was still backed by GOLD. The article then went on to say that during the very prosperous time of the Gold Standard, it was not uncommon for coins to be traded for gold bullion or vice versa. That was until President Roosevelt took the country off of the gold standard, and established a system of unbacked currency. So is it safe to say, or even possible to say that our debt problem has exploded in great part due to the President of the United States at the time making our currency basically worthless? Is that why we have a problem? Is that why our current system is credit based, and not at all based on actual worth? What was the thought process involved in making that call? Well done FDR. A spade is a spade.
View the article: http://artfixdaily.com/news_feed/2011/07/07/9133-family-fights-us-treasury-over-rare-double-eagle-coins
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