A toast to 50 years of legalized gold
Stuart Substack | 27 Dec 24 | Stuart EngleryGold enthusiasts can celebrate a golden anniversary this New Year’s Eve 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 Dec. 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.
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Gold could be owned, bought and sold domestically as an investment without risking a $10,000 fine and 10 years in prison.
How much can I get for my crowns again?
Sculpt an Emu?
I love gooooooold.
Is this an Obscury?
Well, for sure, I be keepin’ it away from all those greedy leprechauns who be everywhere, they are! Now who took me drink?
Or shillelagh?
You should see my smile.