What was the investment that President Franklin Roosevelt outlawed on March 9, 1933?
Executive Order 6102 was signed on April 5, 1933 by U.S. President Franklin D. Roosevelt “Forbiding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates.” It required all persons to deliver on or before May 1, 1933 all gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of Executive Order 6102 was punishable by fine up to $10,000 ($142,822 if adjusted for inflation as of 2006) or up to ten years in prison, or both. Because of this forced immediate sale of gold to the Federal Reserve at the government set price of $20.67 per ounce, this Executive Order is often referred to as the Gold Confiscation of 1933. According to Keynesian economic theory, one of the best ways to fight off a recession is to inflate the money supply. In 1933 the Federal Reserve was tied to a fractional reserve gold standard, limiting its ability to inflate the money supply. Exec
