Roosevelt and his cronies engineered a massive, politically mediated breach of contracts as to both paper currency and debts: terminating the domestic redemption of all currency in gold (which helped the banks and the Treasury); and outlawing and repudiating all private and public contracts and other debts that required payment in gold (which helped all big, politically connected debtors). In and of itself, this was the largest one-time political rip off in American history.
Related Topics
“Gun Control”
"Gun Control"In the pre-constitutional period, had the term been current, “gun control” would have meant, not keeping firearms and ammunition away from as many...
“Official Immunity”
"Official Immunity"The Constitution itself provides for one and only one “official immunity”, in its allowance that, “for any Speech or Debate in either House...
“Judicial Supremacy” Through “Judicial Review”
"Judicial Supremacy": Nowhere to be found in the Constitution or Pre-constitutional HistoryPre-constitutional history provides no support for the sweeping contemporary claim that “the federal...
“Usurpation” and “Tyranny”
"Usurpation"“Usurpation” – the exercise of some otherwise legitimate governmental power as to which the particular actor actor enjoys no legal claim.Source: John Locke, Two Treatises of Government,...
“Living” Constitution
As a constitutional rule of construction that cannot be repeated to often, “If *** we are at liberty to give old words new meanings ***...