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<p>[QUOTE="Lemme Caution, post: 2891342, member: 90575"]Believe it or not, what in fact ended up happening upon the announcement of FDR's directive, i.e. Presidential Order, almost from the get-go was that the average American citizen VOLUNTARILY marched him/herself right down to the nearest Federal Reserve branch and/or local bank and WILLINGLY handed over every bit of gold he or she owned in exchange for essentially worthless paper money, since simultaneously with this nation-wide confiscation of privately-held gold the very system itself of gold-backed currency was henceforth terminated. While admittedly this historically monumental makeover of federal currency policy proved to be a godsend regarding its contribution to the ending of the Depression, it was also the opening of a veritable Pandora's Box of possibly unforeseen consequences, the most debilitating of which in the long run being that the abolition of the gold standard proved to be the essential, even primary catalyst for the establishment of the ever-more-untenable burden of a ceaselessly-increasing national debt.[/QUOTE]</p><p><br /></p>
[QUOTE="Lemme Caution, post: 2891342, member: 90575"]Believe it or not, what in fact ended up happening upon the announcement of FDR's directive, i.e. Presidential Order, almost from the get-go was that the average American citizen VOLUNTARILY marched him/herself right down to the nearest Federal Reserve branch and/or local bank and WILLINGLY handed over every bit of gold he or she owned in exchange for essentially worthless paper money, since simultaneously with this nation-wide confiscation of privately-held gold the very system itself of gold-backed currency was henceforth terminated. While admittedly this historically monumental makeover of federal currency policy proved to be a godsend regarding its contribution to the ending of the Depression, it was also the opening of a veritable Pandora's Box of possibly unforeseen consequences, the most debilitating of which in the long run being that the abolition of the gold standard proved to be the essential, even primary catalyst for the establishment of the ever-more-untenable burden of a ceaselessly-increasing national debt.[/QUOTE]
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