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<p>[QUOTE=&quot;Cloudsweeper99, post: 806788, member: 3011&quot;]You can get a lot of information with an internet search.&nbsp; The idea was that people were hoarding gold to protect themselves and gold was flowing out of the banking system.&nbsp; The replacement with paper money stopped that outflow and saved many banks.&nbsp; But the subsequent devaluation of the dollar against the confiscated gold robbed people of purchasing power and helped extend the Depression.&nbsp; Following the principles of Austrian economics, the credit boom leading up to the Great Depression guaranteed a bust would occur.&nbsp; In this case, Roosevelt choose to save the banks and hurt the people rather than save the people and hurt the banks.&nbsp; If there is another confiscation, it would have to be for a different reason since commercial banks don&#039;t use gold as money or reserves anymore.[/QUOTE]</p><p><br /></p>

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