However, the fair market value of bullion was offered and given. "Seizure" is simply too tough a word if we are going to discuss taking gold currency out of general circulation.
The topic has been discussed before. Managing the market price of gold through arbitrary and artificial means was a handicap on our markets, and when the actual value of of a $20 gold piece was closer to $60, why would a savvy citizen spend it at all? Gold is meant to be horded... used as a hedge against inflation and economic crisis... and the US couldn't afford to have 2% of its circulation value tied up in coins that weren't being spent.
I'm not convinced that taking gold out of circulation was not a good thing... but 9 years in the "big house" for having more than $100 worth is going too far.
No thoughts on whether or not Fort Knox is empty? I thought you'd slam me for that.
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