LONDON, 3 April 2013 - An exclusive article from BullionVault economist Ben Traynor is published today on Telegraph.co.uk, to mark the 80th anniversary of F.D.Roosevelt's gold confiscation of April 1933.
Also due to be published in Saturday's print edition of the UK's best-selling quality paper, Ben's article explains how, "following Executive Order 6102, Roosevelt was able to devalue the Dollar against gold by raising the gold price, eventually to $35, something the government could do as it now controlled the supply.
"FDR was acting on the advice of an economist, George Warren, who believed that the best way to solve a deflationary depression was to inject some inflation and push prices higher.
"In a way, it was a version of quantitative easing, a policy aimed at fighting deflation by raising asset prices. Where today, central banks can simply create the Dollars or Pounds necessary to do this."
You can read Ben's article published by The Telegraph here:
Roosevelt's Gold Confiscation: Could It Happen Again?
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