and simultaneously mark a market manipulation milestone. Fifty years ago, President Gerald R. Ford legalized private gold ownership, allowing Americans once again to stack the regal metal as a wealth-preserving asset and safe haven against monetary inflation and dollar depreciation. Gold futures trading and market meddling also began in the United States a half-century ago.
On December 31, 1974, Ford issued an executive order revoking President Franklin D. Roosevelt’s 1933 decree that criminalized gold hoarding and prohibited American citizens from owning more than $100 worth (about 5 troy ounces at the time) of the demonetized metal. President Ford signed the order without celebratory remarks or public fanfare. He simply released an official statement citing the legal authority he had to take the action.
I didn’t know that Ford did, at least, one decent thing while he was president!!! He made gold legal to hold for the populace. It had been illegal since Roosevelt’s presidential order.for people to hold more than $100 (about 3 oz at Roosevelt’s decree’s price). Ford made it a market price for gold sold off quite a bit.
Does this make up for his JFK assignation cover up (Warren Commission)? Don’t know about that, but he did make gold legal again.