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Under the authority of the Emergency Banking Relief Act, President Roosevelt issued Executive Order No. 6102 which allowed the Government to confiscate all privately owned gold in the United States. The owners would be repaid in paper dollars whether they like it or not.
Therefore, pursuant to the above authority, I herby proclaim that such gold and silver holdings are prohibited, and that all such coin, bullion or other possessions of gold and silver be tendered within fourteen days
to agents of the Government of the United States for compensation at the
official price, in the legal tender of the Government.
All safe deposit boxes in banks or financial institutions have been sealed
In the mid-eighties, Representative Ron Paul (still fighting the gold battle for us, God bless him) served on the Gold Commission in the House of Representatives. Paul wrote: "If it gets bad enough, they’ll declare a national economic emergency. They’ll take over the banks, all business and industry. They may even try to confiscate our gold. I served on the Gold Commission for eight or nine months while I was in Congress along with fifteen other members. I brought up the subject of confiscation. The power to confiscate gold is still on the books as the law of the land. I urged the full Commission to recommend Congress repeal the power to confiscate gold in an economic emergency. We pushed it to a vote and I was the only one that voted to recommend to Congress that we never again contemplate taking the gold of the American people. The fifteen other members voted it down. The power is still there on the books, and they can do it any time they wish."