FFK Times Spring 10 Fort Knox Form

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the history of the gold vault actually starts about 1934 President Roosevelt signed what was called the gold act the United States was trying to rebound from the Great Depression and Ros felt that in order to control the economic growth of the country they had to control the gold confidence and courage are the essentials of success in carrying out our plan during this era American currency is tied to the gold standard every dollar in circulation is backed by a dollar's worth of government gold but the depression causes the money supply to drop there is not enough cash to go around the gold act addresses the problem by suddenly making it illegal for Americans to own gold in a radical effort to combat deflation the real problem during the Great Depression of the 1930s uh Roosevelt wanted people to turn in their gold for dollars he wanted to inflate the currency and he could not inflate the currency if the currency was supported and backed by gold tons of gold coins and bullion flow into