TIL that in 1934, FDR enacted a Federal law requiring that all gold be turned over to the federal government at the price of $20.67/oz. After the government acquired most of the gold, they changed the market price to $35/oz.

http://www.investopedia.com/terms/g/gold-reserve-act-1934.asp



Submitted February 03, 2015 at 08:31PM by bl1ndvision http://www.reddit.com/r/todayilearned/comments/2un32l/til_that_in_1934_fdr_enacted_a_federal_law/