It was supposed to be a routine decision, but the latest move by the administration to increase the fixed price of domestically mined gold has raised eyebrows among economists and insiders alike. On October 28, 1933, Washington insiders confirmed that the price of RFC purchases rose from $3.176 to $3.132, despite a concurrent drop in the London quotation from $31.10 to $30.57. This seemingly innocuous adjustment has sparked a heated debate over the true motives behind the administration’s actions. Was this a genuine attempt to stabilize the nation’s monetary policy, or a clever ploy to exploit the global economic downturn for personal gain?
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Key Facts
- State: National
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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