6102 executive order | BTCC Knowledge

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What is Executive Order 6102?

Executive Order 6102 is an executive order signed on April 5, 1933, by US President Franklin D. Roosevelt "forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States."

Why did President Roosevelt sign Executive Order 6102?

BACKGROUND On April 5, 1933, President Franklin D. Roosevelt signed Executive Order 6102. He justified the move based on the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act in March 1933. At the time, the United States was in the grip of the Great Depression.

Was eo6102 a gold confiscation order?

EO6102 is often referred to as a gold confiscation order, and in principle, it was. Roosevelt effectively nationalized gold. But the word “confiscation” conjures up images of police breaking down doors to forcibly take people’s gold. That’s not what happened.

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