Franklin Roosevelt and the New Deal Explained — Fexingo History
In 1933, Franklin Roosevelt took the United States off the gold standard and criminalized private gold ownership—a radical move that reshaped the American economy and sparked a constitutional crisis. This episode follows the story of the Gold Reserve Act of 1934, from the banking panic of 1933 to the Supreme Court's gold clause cases. Learn how FDR, with the help of economist George Warren and Senator Elmer Thomas, engineered a devaluation of the dollar to combat deflation. We explore the fight over gold clauses in contracts, the role of the Gold Clause Joint Resolution, and the landmark cases Norman v. Baltimore & Ohio Railroad and Perry v. United States. Discover how the government's gold seizure funded the Exchange Stabilization Fund and why the gold standard became a symbol of lost financial stability. We also touch on the legacy of this policy, including the lingering resentment among conservative gold bugs. A deep dive into one of the New Deal's most audacious monetary experiments. #NewDeal #FDR #GoldReserveAct #GoldStandard #MonetaryPolicy #GreatDepression #SupremeCourt #GoldClauseCases #GeorgeWarren #ElmerThomas #ExchangeStabilizationFund #NormanvBaltimore #PerryvUS #Devaluation #EconomicHistory #FexingoHistory #NorthAmerica #1930s Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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