The Emergency Banking Act and Gold Confiscation of 1933 (HOM 34-A)

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History of Money, Lecture 34, Pt. A: a look at the banking holiday ordered by FDR in March 1933, followed by Executive Order 6102, which outlawed the private possession of more than five ounces of gold, codified by Congress (together with a devaluation of the dollar) with the Gold Reserve Act in 1934. With this latter act, Roosevelt altered the price of gold from $20.67 an ounce to $35. How effect were these moves in countering the Great Depression?
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Dr. Jonathan Barth received his PhD in history from George Mason University in 2014. He specializes in the history of money and banking in the early modern period, with corollary interests in early modern politics, empire, culture, and ideas. Barth is Associate Professor of History at Arizona State University and Associate Director of the Center for American Institutions at Arizona State University.
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Disclaimer: The views and opinions expressed on this channel are my own and do not reflect the views of Arizona State University, nor are any of the views endorsed by Arizona State University.

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22 июн 2024

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Комментарии : 146

@ProfessorBarth 3 года назад

Follow me on Twitter: twitter.com/Professor_Barth If you enjoy this channel and want to support: www.patreon.com/professorbarth Buy my book: www.amazon.com/Currency-Empire-Seventeenth-Century-English-America-ebook/dp/B08L6ZPV19/ref=sr_1_1?keywords=currency+of+empire&sr=8-1 History of Money playlist: ru-vid.com/group/PLinliDgP9EbScxfH5wxoX8I_HNRSElqZ_ Foundations of Western Political Thought playlist: ru-vid.com/group/PLinliDgP9EbRu4qZn8SJFgysSQB5I4c-L

@nitsudocsicnarf347 2 года назад

The United States was bankrupt. All sovereignty was bestowed upon corporations and foreign central banks and the United Nations. Sovereign in name only. The creation of the Federal Reserve System and dropping the gold standard sealed the country back to serfdom.

@leoborros 3 года назад

One of the biggest armed robberies in the history of mankind!

@ProfessorBarth 3 года назад

It's pretty shocking that Americans put up with it, actually, and goes to show how desperate they were in 1933.

@ProfessorBarth 3 года назад

@jxhensley @jxhensley You're right -- an entire generation of working class Americans was converted over to the Democratic Party in the early to mid 1930s.

@nayrtnartsipacify 3 года назад

Looks like this is happening in the form of mass printing of fiat right now.

@stayswervin554 2 года назад

I don’t think they minded because they weren’t educated in money maybe only the rich were But that’s just a guess no facts to back it

@babygirl5299 Год назад

Hey these people are still in office don't you understand they're called the Phoenicians they've been under weeping under their control for 400 years this is called the Great Awakening wake up

@ricoloco2803 Год назад

"All persons must...' People who think that they are persons are still getting wordplayed everyday. Scandalous betrayal....

@blakejames9743 3 месяца назад

n. 1) a human being. 2) a corporation treated as having the rights and obligations of a person. Counties and cities can be treated as a person in the same manner as a corporation. However, corporations, counties and cities cannot have the emotions of humans such as malice, and therefore are not liable for punitive damages unless there is a statute authorizing the award of punitive damages They tell you a lie and a truth at the same time, hoping you'll believe the lie and be too confused about the truth to look into it.

@CJ-gv6bq Год назад

The next huge banking system change is the implementation of Central Bank Digital Currency. This is occuring globally, including America. This will allow for the full control of the money and how people spend money. The World Bank stated that the problem with fiat currency is that there is no way to know what people spend their money on. Many countries have already implemented CBDC like China. The government in China sustends citizen's access to their money for any reason, such as someone said or posted something on social media that the government didn't like. The government doesn't notify people that they no longer have access to their money. In the short documentary I saw, the man found out when he went to buy a train ticket. The automated train ticketing system informed him. He had to go to a government office and make a donation to a an organization of the governments choice, which them improved his social credit score. Social credit scores will be implemented globally once CBDCs are implemented. Corporations have a different but similar scoring system called Environmental, Social and Governence, which is a new financial system created by finance and banking, such as Black Rock and the World Bank. Ultimately, we will have to trust the bankers when they convert fiat currency to digital currency. Based on the crockery discussed in this video, everyone should be very worried about this conversation.

@warningsigns4526 9 месяцев назад

child trafficking can be eliminated? paid in paper can be hidden for trafficking people

@blakejames9743 3 месяца назад

So that explains why the corps push soo hard on the enviroment, social, and legislation issues. There was once a point in time where they could have cared less..

@thesentientape 3 дня назад

Professor Barth, I have stumbled on several of your videos on youtube and I am always impressed sir. You share much important information. So I would just like to say thank you.

@richarddimare7486 Год назад

These are excellent videos, almost ready for law students. Could you expand on what happened when Federal Reserve Notes (FRNs) went from being "receivable money" prior to 1933, to "legal tender" after 1933? My understanding is that prior to 1933 we had a right to say "no, I don't want to receive payment in FRNs; I want U.S. Notes (greenbacks) or coins instead," but after 1933 we had no such right.

@markbohn6534 Год назад

You had No Right after the ReConstruction Act of 1871... You see there is No Peace Treaty after the Civil War... Those FreeMasons Usurped our Country from inside and made Title 28 USC 3002 15a the U.S Federal Corporation of 1871... U.S is a Corporation not a Government... Corporations do Policy and Corp bylaws,,, All City , State and Gov is listed on Dun and Bradstreet as a For profit Corporation... Look for yourself...

@javiermontoya6849 3 года назад

Outstanding, objective, informative lecture! Great research, professor! Thank you for this material.

@ProfessorBarth 3 года назад

Glad you enjoyed it! Thank you for watching.

@markbohn6534 Год назад

Many times Professors are just gate keepers in this life... Like in the Smith Mundt Modernization Act Fake CIA News... Yup your Government Servants even wrote lying to the people in the law... By a ACT.. wow isn't that something..? Government doesn't lie about some things.. They lie about everything... And I can Prove it in the Law.. In The Code... In the Statutes... In the Policies... why so many different words for law...? Our History is a total joke.. Just mind conditioning... Let me show you some.. Government Govern means control... ment or mente means mind.. Control Mind.... by design...

@lukasbaral5108 Год назад

This series has been absolutely amazing

@markbohn6534 Год назад

This serious is just more of feeding the brainwashing.... FDR's 1933 New Deal Act HJR 192 and Hitler's Enabling Act all done on the same day... We are all just puppets.. Well I'm not... I know what they did in history and how these Nobiles did it.... Plus I can Cite the Real Law of the land and the Code,, The Roman Civil Code... Yup all Policy, Statutes and Codes are Not Law.. They are the Color of law 18 USC 242 Deprivation of Rights under the color of law is a crime.. Because Rights are LAW... ALL POWER is Inherent in the People not Government servants... More code.. Washington State RCW 42.56.030 is so good... I love using the codes but my LAW teachers hate me doing it.. But thats ok because your Government doesn't use the code or Read the State or Federal Constitutions or the book Law of Nations or their Parliamentary manuals because our Country got USURPED in 1871.... I'm not kidding... Your servants have been very busy over the last 150 years... But no putting this cork back on the bottle again...

@billcastanedo4467 Год назад

Professor I just found you by accident but I really enjoyed it thank you !

@Ea79000ea 2 года назад

I watch all your videos and I’m not even a student!

@ProfessorBarth 2 года назад

Glad you've enjoyed it Eugene!

@ericduchess8647 2 года назад

FDR's Fear quote hasn't aged well at all. In today's world, it should be truncated to "The only thing we have...is Fear itself!"

@brickstacker3460 Год назад

In wall street terms the US government took a short position on the the federal reserve note and cashed out months later

@augustuscaesaractium1748 2 года назад

Your series on monetary history is very educational..

@sarahcovell1169 2 года назад

Great lecture, but I take issue with one point- that gold hoarders were widely or commonly fined/prosecuted. Published diaries from the depression indicate that outside of a few high profile cases, those who kept their gold were not punished, much to the chagrin of many who did begrudgingly comply and deeply regretted it later. See Benjamin Roth's book on the the Great Depression A diary in which he references this.

@ProfessorBarth 2 года назад

That is right

@daviddamico6292 5 месяцев назад

I had a great-great-grandfather who had 40,000 gold coins and didn't turn one of them in

@COVID...19 2 года назад

10:20 There are more options than two. One was government could have taken back their powers to create a national debt-free currency.instead of the Federal Resserve currency with debt attached.

@Einnor084 Год назад

Bankrupt

@COVID...19 Год назад

@@Einnor084 Bankrupt to some in the City of London. A nation owed and lead by the corrupted to serve such financiers.

@Zhentarim Год назад

I'm writing my undergraduate thesis about this, so I understand the sentiment, but we both know it's not exactly the most popular view. so I think it's ok that he doesn't comment, but I agree with you

@Einnor084 Год назад

@@Zhentarim Listen...... JFK, tried 2 take da power back. These guyz, will push DUH button. I'm not sayin it, 2 suggest slavery. I'm just posting REALity!

@dantheman4011 2 года назад

What a Scam!! Trust No One!!

@ProfessorBarth 2 года назад

It was quite a bold act, wasn't it?

@dantheman4011 2 года назад

@@ProfessorBarth I know how I can Support you and your channel. I'm buying your book!!

@dougbillman2333 Год назад

Dollar is now backed by Air......,

@Einnor084 Год назад

U - r DUH Social SECURITY.

@Zhentarim Год назад

political honesty, much better

@Einnor084 Год назад

@@Zhentarim Even E.T., iz a liar. Best..... U use ur Godgiven brain & try & discern.

@Pound_Shift 8 месяцев назад

Air has value 😂

@iranlopez2796 3 месяца назад

Title 12 section 411, all debts are US obligations.

@timothystarks5053 Год назад

U reaffirmed all that I've been reading... Hj192 and the banking act holiday.... Thanks professor it's time the People know that they are MEMBERS of a political govt, and not ♂️ or ♀️, natural law...

@jasoncrone2710 3 месяца назад

What amazes me is that all the US citizens fell for it. The way it was wrote only referred to the US territories. Not the mainland

@iranlopez2796 3 месяца назад

The new deal is? Still in effect! Bank makes 10% of the loan to underwrite, guarantor is USDA. Bank is not to claim, anything back.

@daviddamico6292 5 месяцев назад

There is so much gold still in this country period in the first mile of the Grand Canyon

@daviddamico6292 5 месяцев назад

Way more gold is laying underneath Fort Dix in New Jersey

@connielindley7669 8 месяцев назад

They didn't know they were not "persons"

@warningsigns4526 9 месяцев назад

numismatic worth more because of the confiscation

@brandonnguyen1486 Год назад

So you know Abt remittance coupons? How you can discharge all your debt and credit card bills through UCC codes

@jamesgeorge65 Год назад

Thanks for this. Was looking for clarity in what happened to the dollar in 1933, and how that was different to what happend to it in 1971.

@markbohn6534 Год назад

Title 18 USC 2385 Advocating the overthrow of the rule of law and Gov and the Constitution... It's all Treason.... We the People grant our Servants their limited powers RCW 42.56.030... Title 28 USC 3002 15a if we had a Government instead of these corporation bankers.. And the Smith Mundt Modernization Act fake news... It's all just mind control...

@lazmotron Год назад

Professor have you made a video explaining the symbols on the back of the $1 bill aka The Great Seal of the United States placed on back of the $1 bill in 1933?

@daviddamico6292 5 месяцев назад

Executive orders are not laws

@frankiecal3186 9 месяцев назад

Do a video on the protocols of elders of zion. It reveals every the country and the world is going through to build this one world government of the jews.

@warningsigns4526 9 месяцев назад

Executive Order is not a Law

@gboundrepublictv7564 6 месяцев назад

It applies if you are a voter, or agree to 14th amendment created US citizenship

@user-ot4jy8vl7i Год назад

Really appreciate these videos! So much insight into what was going on these times. But what I still cannot understand is: why did Hoover not give up the gold standard at 1929? What are the advantages of having a gold standard?

@ProfessorBarth Год назад

I think Hoover was readying a move away from the gold standard, though I don't think it would have been as extreme as what FDR conducted. There's no telling (at least as far as I'm aware of -- there may be evidence out there that Hoover was planning to stick to gold or that he would have taken the same approach as FDR). The gold standard has many advantages, in my opinion. It functions as an anchor for the monetary system. The issue is, for the gold standard to work, you shouldn't inflate during the boom (as the Fed did during the 1920s), and during a contraction or bust you MUST allow the correction to take place: meaning, you must allow prices to fall. Andrew Mellon was right. Hoover's failing was not that he was too laissez-faire. He tried to have it both ways: he rejected public relief programs, yes, but he was a through-and-through interventionist. You have to take the bitter medicine. Of course it'd be better to not create the bubble in the first place.

@Zhentarim Год назад

@@ProfessorBarth Benjamin M. Anderson talks about the emission that went from 33mi to 47mi from 1922 to 1928, Frideman and Anna J. Schwartz talk about the increase in the monetary base from 1915 to 1920, more than double, in addition to 1921 to 1929 the base goes from 39bi to 57bi, it's pretty crazy

@finn3408 9 месяцев назад

GET RID OF THE FED

@daviddamico6292 5 месяцев назад

Can see I've seen it but I certainly have astral travel there

@metallitech 10 месяцев назад

Considering how the United States came about, this move was ballsy as hell.

@ProfessorBarth 9 месяцев назад

No question. Governments are always able to get away with certain measures during time of crisis, especially if there's an easy scapegoat. In this case, it was gold "hoarders" and gold "speculators".

@stephmcdonald 8 дней назад

Fun fact the Rockefeller family is cousins with President Roosevelt's wife Eleanor

@daviddamico6292 5 месяцев назад

In more gold still in the upper California Rivers

@daviddamico6292 5 месяцев назад

He went back to Italy with every one of those coins

@Pound_Shift 8 месяцев назад

Didn’t Congressman James Traficant (Ohio) expose the emergency banking act as the United States becoming insolvent and operating under chapter 13 ?

@gboundrepublictv7564 6 месяцев назад

It was Chapter 11 Reorganization Plan 26

@zachariaocoleakorimo5673 Год назад

What text books / history books can I find this information?

@brucewayne6957 Год назад

None

@zachariaocoleakorimo5673 Год назад

Daz insane that's what I hate about history and our existence lyk I get stone Age humans dint have a language as we knw but gawd damn dey mussa communicated somehow lyk y dint dat niga have a diary #Tmr Sum 1 digs up an actient stone diary held together with hand twisted wire

@zachariaocoleakorimo5673 Год назад

Nah if dat really happen dat I'll b mad #Break Da iNerNet

@zachariaocoleakorimo5673 Год назад

Y in HIMs' name did the ppl da Pyramid Engeneers leave an instruction manual 2 build sa nex 1 mannneeeeee build me a Pyramid lemme call it home

@babygirl5299 Год назад

Look Up "Granville Gold Trust" and you will see.

@almay9962 2 года назад

Was silver also confiscated?

@ProfessorBarth 2 года назад

No, and actually silver remained in the coinage (half-dollars, quarters, and dimes).

@HalfassDIY Год назад

@@ProfessorBarth Actually, silver bullion was limited to 50 oz.

@matthewrawnsley8131 11 месяцев назад

FDR thought he was king

@Tryingtimes007 Год назад

These people were given the impression they were in control 😂

@perkypegasus1072 10 месяцев назад

How are your bills getting paid?

@ProfessorBarth 10 месяцев назад

Me?

@dougbillman2333 Год назад

He sent the gold to China.......

@koltoncrane3099 11 месяцев назад

When I first read the name I thought it was rothbard the finance professor haha. Ya lots of keynesians are right. A decrease in money velocity does make inflation go down or deflation happen. But what I never learned in college until a few years after by macro economists was credit creation. The 1920s had massive credit creation so when credit contracted it makes sense there’d be hard times. I think I heard credit contraction today is the worst it’s been in decades.

@koltoncrane3099 11 месяцев назад

That’s also a bad way people think about it. But it’s right. Higher interest rates means more people would keep their money in the dollar, but if the dollar was gold the issue isn’t gold itself like people claim but that the government printed to many dollars for the gold it had. That’s what they say caused Nixon to declare bankruptcy in 1971. It’s amazing there’s no auditing of the federal reserve. It makes sense France would send a war ship for their gold. What’s interesting is I read Germany a few years ago tried getting gold from the U.S. and was put on hold. People assume that oh gold holds governments accountable. That’s a lie when there’s no bankruptcy or auditing etc. gold is good when it’s coins and there’s no private federal reserve or central bank. It’s amazing the federal reserve pays a 6% dividend to shareholders. I never was taught that in school.

@koltoncrane3099 11 месяцев назад

FDR may have used the words money changers. But it seems to me the real issue is the federal reserve. If there was no banking cartel or monopoly enforced by the government then free markets could work. But with a government backed monopoly then we get big distortions. It’s like today the fed keeps real estate high by owning like 2.7 trillion mbs when their balance sheet had like 8 something trillion on it. Devalued dollars keep assets up but it’s screwing over millennials when like half of 18-30 year olds live with family.

@barracuda008l4 9 дней назад

Pathetic economics.... if interest rate was determined by the market, these crisis resolve by themselves

@daviddamico6292 5 месяцев назад

You have such an audience why don't you just tell the truth

@leolyon2373 Год назад

Generalizations and a very laziedly prepared and horribly presented. Where did you get your degree. Most likely the same place Sandy Ocasio Cortez received her degree in Economics.

@DJ-ll2ye 2 года назад

Bitcoin Reserve Act of 2025

@ProfessorBarth 2 года назад

Haha, perhaps that will later make it into our monetary history. I'd be ok with it.

@Einnor084 Год назад

@@ProfessorBarth Bitcoin, iz dead. No real action possible, wit da Blockchain. GovernMENTAL appaRATus will seek a digital currency, full of CONvenience, 2 corral DUH peephole, BUTT @ da same time, dis currency will dstroy privacy & open up all kindza measurez, 4 CONtrol.

@jimragan9432 2 года назад

i enjoy your videos. can you please work on your mouth noises? the lip smacking is too much for me.

@ProfessorBarth 2 года назад

Thanks for the feedback, I'll work on that -- apparently a glass of water and an apple before recording can really help with that issue. Glad you otherwise enjoy the videos!

@Einnor084 Год назад

@@ProfessorBarth I knew sumbody would complain. SMH We 1der, y we gave up on da Gold Standard.......... FocuSIN on BS, nstead of da topic, @ hand? Could data been a culprit?