– Dylan Ratigan Rages Over “The Extraction Of America” And The Bought-Off Congress (ZeroHedge, Oct 15, 2013):
It’s been a while since Dylan Ratigan made some headlines but the farce under way in Washington reminded us of his epic ‘falling over the edge’ rant from 2011. In a Santelli-esque rage, Ratigan loses it over the banking, trade, and taxation that is draining America of everything and how nothing will ever change as the Congress is completely bought-off. Both political parties are to blame but “until we get the money out of politics” there is no policy that will fix the mess that we are in, he exclaims (and is once again proven rigfht today). The sad truth is these kind of honest truth moments are few and far between on the mainstream media (though we suspect will increase as reality sinks in)… and Ratigan’s “mathematical facts” and vehemence make this must watch on a day when the US equity market hovers incredulously near all-time highs.
Roosevelt??? Are you serious Mr. Ratigan? Let me remind you of the following facts:
Why would they trust Roosevelt any more? They were smart not to. By January 1934, Roosevelt increased the dollar price of gold from $20.67 to $35, thus devaluing the dollar by 70 percent while increasing the value of gold that the government now owned.
You probably do remember that when Roosevelt confiscated gold in 1933, he also sealed safe deposit boxes in all US banks. No American could visit a safe deposit box for some time without a government agent accompanying him. That could certainly happen again.
And all of this is true in other countries around the world.
April 5th, 1933, FDR confiscated every gold coin, bar, or certificate and people had to turn in their gold to the Federal Government or else they would face a fine of $10,000 or 10 years in jail. That is about $179,000 in today’s money. You were able to keep a small amount or some rare coins and those that did give up their gold received about $20/oz.
In effect, what FDR did was to devalue the USD by 70% overnight.
In summary, the US government, which is now the largest official holder of physical gold in the world, had 40 years of uncontested zero cost gold accumulation in which it could build a gold inventory that was second to none.
Roosevelt was an elite puppet like all of those clowns here: