Forbes: Gold Can't Be Downgraded and It's No One's Liability
Article by Bob Haber in Forbes
"We have gold because we cannot trust governments," President Herbert Hoover
It’s not often I get to quote the much-maligned Herbert Hoover. This quote, made in 1933, was another piece of Hoover’s advice that incoming President Roosevelt ignored. Shortly thereafter, Roosevelt passed the Emergency Banking Act, which forced all Americans to convert their gold coins, bullion, and certificates into US dollars. Then he immediately...