The Only Thing We Have To Fear Is Fear Itself... And Governments Telling Us What To Fear: Why The Beginning Of The End Started With FDR's Confiscation Of Gold

Tyler Durden's picture

As is well-known by now, following America's collapse in the first Great Depression back in 1929, one of the first decisions undertaken by president FDR, not even a month following the first of four inaugural speeches (in which he notably said that "the only thing we have to fear is fear itself") was to respond to the rolling bank runs and shutdowns, by doing something unprecedented: confiscating the gold of American citizens. And then he logically followed up by doing the only thing that insolvent governments know how to do: he debased the US Dollar overnight by 40% by changing the official exchange ratio of the USD to gold from $20.67 per ounce to $35.00 per troy ounce. Alas, since exchanging such gold would be impossible until 40 years later, nobody could take advantage of this generous offer. It is this point in history that to William Buckler of the famous Privateer newsletter marks the transition of American government from republican (on behalf of the people) to being authoritarian (in control of the people). It also begs the question: what did FDR offer in return for gold confiscation - after all if gold confiscation is not "something to be feared" then there is a quid pro quo. Why he gave us Social Security and the Welfare state. The same "welfare" state whose unfunded obligations amount to roughly $80 trillion, and whose increasingly tangible insolvency is precisely the reason why ever more capital is shifting right back to, you guessed it, gold. Perhaps FDR should have added that in addition to fear itself, the one other thing everyone should fear is governments believing they they know what they are doing when transitioning to central planning an an authoritarian regime based on nothing but faith.

From the latest Privateer newsletter:

The US banking collapse which occurred early in 1933 was the result of a huge withdrawal of Gold by both foreigners and Americans. There was real fear that the incoming government would repudiate the Gold standard - just as the UK government had done in late 1931. The worst nightmare of all central bankers was taking place. Just as Mr Bernanke does today, Fed Chairman Eugene Mayer had access to (primitive) helicopters and printing presses. What he did not have was a “fiat” currency. As long as foreigners - AND AMERICANS - could redeem their US Dollars for Gold, his hands were tied.


As already stated, FDR declared a bank holiday immediately upon his inauguration on March 4, 1933. The banks had already ceased making payments and were paying out only five percent of deposits. The bank holiday merely froze this last gasp of bank activity - for a week. It took a lot more to “scare” Americans in the early 1930s than it does today, but the bank collapse of early 1933 was the culmination of the aftermath of the stock market crash of October 1929. For three-and-a-half years, Americans had been rocked by a series of economic and financial calamities - each one of them worse than the one that preceded it. The bank holiday was the last straw. Something RADICAL had to be done.


Something radical was done. When the bank holiday ended, thousands of US banks had ceased to exist. The ones that remained were “SOUND” - so said FDR. Most Americans could no longer afford not to believe him. The Gold poured back into the still standing banks. No sooner had it done so than the US government literally stole it - on April 5, 1933 - by making it illegal for Americans to hold or own Gold. From that day to this, the US economy has run on a totally fiat currency. Until December 31, 1974 - the day it once again became legal for Americans to buy, sell and hold physical Gold - there was no escape.


Gold confiscation was all it took to turn the form of US government from being republican (on behalf of the people) to being authoritarian (in control of the people). It is all it took for that same US government to start to nurture the attitude among Americans that they were dependent on their government. To nail down that attitude, “social security” (a contradiction in terms), old age pensions and unemployment insurance were all enacted into law by 1935. By the end of the 1930s, they were electorally sacrosanct. Deprived of the means to maintain independence, Americans were given the substitute of “welfare”.

Segment courtesy of Bill Buckler and his prior permission.

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Mercury's picture


There's only one slider on this scale.

I wonder how many people actually held on to some significant amount of gold during those 40 years of prohibition?

max2205's picture

TD. YOU trying to tell us something coming with all these scary posts?

More like Halloween night than labor day. Lol

spiral_eyes's picture

wow guys i just found this related video...

progressive democrat calls for "fema camps" to lock up republicans and those against obama. i thought maybe he was being facetious, but no, he actually believes in locking people up. wow. that's fascism.

weinerdog43's picture

If you're worried about Progressive Democrats, you are truly a weeny.  Progressives are the most powerless faction in government.  I suggest you get a grip and start to concern yourself with the Bilderbergers and their ilk.

spiral_eyes's picture

 Nazism wasn't implemented by IG Faben, Himmler and Prescott Bush. No, it was implemented by willing little footsoldiers who came to accept the idea that others were less than human. 

Corporatism, synarchism, cryptocracy and plutocracy are nothing new, and have existed in some form in every human era. But only certain eras develop into full-blown fascism, only certain regimes successfully strip their supporters of human dignity, and of free thought and of morality. Hitler did it, Mao did it, Mussolini did it, Stalin did it, Napoleon did it, Nero did it, maybe Genghis Khan, too. And the way debate is getting polarised and dehumanised it seems like Obama and his civilian national security force may also succeed.  

narapoiddyslexia's picture

Sorry, Nazism was implemented by the German corporate oligarchs, and Hitler had a special meeting with them to discuss it. The industrialist Thyssen and the German banker Hjalmar Schacht were the main organisers of a letter to President Paul von Hindenburg urging him to appoint Hitler as Chancellor. There were many others. Authoritarianism is, and always has been, the defining phenomena of the right. 

Moreover, the implied assertion that Obama is polarizing the debate is laughable. You're not even paying attention.

Dick Fitz's picture

Hitler was a National SOCIALIST, so blaming it on "the right wing" is laughable.

Both parties in the US are socialist as well, with the Reps covering it in a sheen of fascism.

kito's picture

hilter was a power hungry sick bastard, socialist or otherwise

mcguire's picture

lets get this right.  hilter was above all an occultist, and so is bush.  The Brotherhood Of Death Society, whose symbol is the skull with two crossed bones. The German Brotherhood of Death Society is the Thule Society. Adolf Hitler joined this society in 1919, becoming an adept under the leadership of Dietrich Eckhart. Later, the Thule Society selected Hitler to be their leader of the New World Order, as Eckhart revealed on his deathbed, saying, "Follow Hitler; he will dance, but it is I who have called the tune. I have initiated him into the Secret Doctrine, opened his centers in vision, and given him the means to communicate with the powers." (Trevor Ravenscroft, The Spear Of Destiny, p. 91).

In August, 1990, President George Bush announced that the world had now entered into a New World Order. Shockingly President Bush is an adept in an American Brotherhood of.. the Yale Skull and Bones Society. As we stated earlier, Bush's New World Order is virtually identical with Hitler's; the key connecting point is the common membership in their respective Brotherhood .. (Behold A Pale Horse, p. 81; Introduction To The Order, p.7).

A quick overview of the Thule Society, beginning with a study of its practices and relevant history.

* They were Satanists who practiced Black Magic -- this means that they were "solely concerned with raising their consciousness by means of rituals to awareness of evil and nonhuman intelligences in the universe; and with achieving means of communication with these intelligences." (Ravenscroft, p. 161). Concentrate on that seemingly innocent word, rituals. Christians equate a ritual to a church service, thereby not understanding its occultic mean-ing. The New Age Dictionary defines ritual as a "ceremony to restore balance with nature...and bring back lost harmony and sacredness." Remember we are dealing with the Satanic world, where good is called evil and evil good. The sacred-ness mentioned here is a Satanic sacredness. Rituals literally are proscribed activities designed to allow demonic power to flow through the participants. These activities are proscribed chants, formula wordings, and carefully planned actions. As we noted last week, the effect is devastatingly powerful, as demonic force pours through the participants, delivering a counterfeit spiritual experience which literally transforms their lives. Never skip over the word ritual, as it is a word of Satanic power.

* Thule members practiced a form of Sexual Magic derived from a lodge of which Aleister Crowley was a member. Crowley was recognized as the foremost worshipper of Satan in the 19th Century. "The origin of this...medieval magic...can be traced to a Freemason, Robert Little, who founded the Societas Rosicruciana in 1865... (Ravenscroft, Spear of Destiny, p. 164-5). While the actual sexual perversions which were practiced are too offensive to share, the results are not. Author Revenscroft stated that "indulgence in the most sadistic rituals awakened penetrating vision into the workings of Evil Intelligences and bestowed phenomenal magical powers." (Ibid. p. 167). This is the Thule Society.

Ravenscroft records its effect upon Hitler, "...sexual perversion took a central place in [Hitler's] life...a monstrous sexual perversion was the very core of his whole existence, the source of his mediumistic and clairvoyant powers, and the motivation behind every act through which he reaped a sadistic vengeance on humanity." (Ibid., p. 171).

Eckart's final act was to initiate Hitler into "a monstrous sadistic magic ritual...after which he was sexually impotent. Hitler's impotency had a deep psychological foundation. He knew sexual fulfillment through the extremes of sadism and masochism..."(Ravenscroft, p. 155, 173). This impotency delivered a final devastating blow to Hitler's psychological foundation, finally making him into the sadistic murderer that history knows.

    • Thule society believed in "communication with a hierarchy of Supermen -- The Secret Chiefs of the Third Order". (Ibid) The quality which make these beings supermen was occultic spirituality. Further, they believed in Madame Blavatsky's Secret Doctrine, which teaches that certain superman had survived the destruction of Atlantis with their higher levels of consciousness intact. These supermen were Aryans. These two beliefs combined into one through the Thule Society and Hitler, culminating into the Nazi Death Camps. (Ibid, p. 166). When one group of people incorporate into their spiritual belief structure that they are inherently superior to another group of people, it is inevitable that genocide will be attempted as soon as possible.
    • The Thule Society regularly held occultic seances, during which time they communicated with demons who were either masquerading as a dead person or who were just appearing as their guiding spirits. Dietrich Eckart, Alfred Rosenberg, and Adolf Hitler invoked the Anti-Christ into manifestation at the mediumistic seances of the Thule Group in Munich." (Ravenscroft, Spear of Destiny, p. 168) Eckert believed he had been told by his guiding spirit he would have the privilege of training the coming Great One, the Anti-Christ. From the beginning of their association, Eckert believed Hitler was Anti-Christ. Therefore, Eckert spared no occultic knowledge, ritual, or perversion in his attempt to fully equip Hitler for the role. Once the training was completed, Hitler believed he was "born anew with that super-personal strength and resolution he would need to fulfill the mandate ... ordained for him." (p. Ravenscroft, p. 93-4) Hitler literally equated this with the Christian claim to be born again.
Campagnolo's picture

actualy he was not...he was right about taking control of his country and resources from jewish...if he were succesful the world would be very different today

mcguire's picture

1. actually, he was.  if you want to be a revisionist historian, you have to go all the way.  hitler was a pawn of the Thule occultists.

2. "he was right about taking control of his country and resources from jewish"..  here is the sad thing about your antisemitism.. it is the same redistibutionist idiocy that can be found in any 'welfare state' mob think...  


Campagnolo's picture

we are in evil world anyways, but from those two evils I just think Hitler wanted to take control over his country for his people, how he did it? that's a different topic. Now, one is always an "anti semite" person when talk about jewish  responsabilities on countries economic, it is time to speek and loud. It is like been a racist because you ask to work to a black person, I mean, 20% of America population is black and 90% of them live for free, and one is the racist??, I am sure if blacks will work the country deficit would be a lot less. Like I said, the the world would be different today without both parasites...evil?, sure, it always was and always will... Hell?, I doubt it.

DosZap's picture

  kito @- 00:53 ,

He was far more than that.He was a satan worshipping occult following madman.

And he was part Jew,that drove him batshit crazy.( one must wonder what could foment the kind of hatred a mixed race German Jew could come up with), to cause the insane idea of a PURE AYRIAN race.When he himself coulf not qualify.(He was a great orator, and or was demon possessed).

FurQ's picture

@DickFitz You've obviously had your brain thoroughly washed by Fox, read the history books rather than listening to Glen Beck, Hitler came up with "National" socialism to counter the growing support for international socialism/bolshevism/communism in europe which he saw as being run by jews and benefitting non-ethnic germans. National socialism/nazism was really fascism where aryans were afforded the rights guranteed by the neuremberg laws but non-aryans were basically considered non-citizens and were not gauranteed any rights, bit like what the right-wingers are planning to do to mexicans in arizona. Hence aryans could commit any crimes on non-aryans without the law having any obligation to do anything. Also unlike bolshevism where private property was seized and redistributed by the state, in nazism only the private property of non-aryans was redistributed, all these laws were passed in response one event- the burning of the reischtag which was blamed on socialists (i.e. socialist that weren't national socialists) so that alot of the individual rights guaranteed by the weimar constitution which was a document mainly written by socialists could be put aside, similar things have happened to muslims and others who supposedly support terror via the patriot act in response to 9/11 with people on the right wing supporting it and accusing socialists and liberals of being anti-american when they question it as unconstitutional. Also, unlike other forms of socialism, nazism kept the wealthy ethnic germans rich and allowed them to accumulate more wealth by allowing and encouraging slave labour, in short it was an ideology closer to fascism and the extreme right than any kind of socialism and members fought against and killed communists and socialists and used the threat of communism to get wide support

btw I am not a liberal or socialist I'm just a libetarian that knows how to read and doesn't depend on glen beck to tell me history

Founders Keeper's picture

[Authoritarianism is, and always has been, the defining phenomena of the right.]---narapoiddyslexia

Yeah.  That's what our Leftist Progressive education system taught me too.

I used to be a useful idiot.  I can spot one a mile away.

But, don't worry.  There's still hope for you, narapoiddyslexia.


FurQ's picture

What allowed Nazism to succeed is that the right wing in Germany who talked of freedom and private property rights allowed themselves to be governed by an ideology very similar in its authoritarianism to communism using the threat of socialism and communism to justify similar laws that would be passed by a communist state. Even to this day when nazi soldiers from that time are interviewed they say if we didn't support Hitler then we would be in same situation as USSR even though he did just as much damage if not more.


Moneyswirth's picture

It's well worth noting that Schacht was the president of the Reichsbank during the 1920s

Mike2756's picture

Agreed, he couldn't have done it without their funding, and with backing from the army.

Moe Howard's picture

Therefore, according to your daffynition that "Authoritarianism is, and always has been, the defining phenomena of the right"; the following list contains leaders of the right:





Ho Chi Minn


Woodrow Wilson


Seems to me that they are all defined by one thing: Gangsterism. What is behind that Gangsterism, meaning how did they rise to power? Money. Who provided the money? Bankers, or Banksters.

Playing left - right is silly, anyone with any cognitive skills can see beyond the bullshit ideology and judge by actions. What social organization fairy tale you favor does not change reality.

All governments are rooted in the first governments - roving gangs of looting men that stopped in one place and decided to milk the locals. If you don't believe they rule by force, try to change TPTB. You will soon encounter force.

tamboo's picture

asiatic jews one and all, proxies for the house of red shield.

hitler was a jew funded by joo banksters to stampede joos into israel.

Expose Zionist Lies: "Adolf Hitler - Founder of Israel" by Hennecke Kardel

fdr lied us into ww2 by cutting off jap oil,  the traitor knew pearl harbor was a setup.

Day Of Deceit: The Truth About FDR and Pearl Harbor by Robert B. Stinnett


Domestic & Worldwide Zionist Criminality




Researching Criminal zionism

Breaker's picture

There's some truth here. Left/right has no meaning if there is no difference. The list of bad guys you provide is internally self consistent. They belong together on the political spectrum, despite that Americans seem to think there's a sustantive difference between Hitler and Mao. The perceived difference is mostly based on a progressive meme (Mao good Hitler bad) that has been repeated ad nauseum since WWII.

Cabreado's picture

I like to think of it as TD taking advantage of relatively slow news and pushing out panoramic views of Reality, with a smattering of Principle thrown in for good measure.

Mactheknife's picture

>More like Halloween night than labor day.

How bout we call it what it is...a history lesson.  Those who haven't learned their history are doomed to repeat it. You think this is scary...go find yourself someone who is in their ninetys and ask them what that was like.  Freak you out.

Westcoastliberal's picture

Anytime Cheney crawls from his crypt, be afraid, be very afraid!

Actually I am a bit apprehensive of the coming 10 year anniversary of 9/11.  A "False Flag" could work nicely into the plans of the same perpetrators who had the "Patriot Act" already written & ready to go hours following that fateful event.

sun tzu's picture

0bama is Cheney's puppet? 

rocker's picture

This is the second time I give you a thumbs up +1.  When will most wake up.  Cheney is a elitist aristocrat.

Everybody is a puppet to the likes of Cheney.  Look at Bush. 

I am willing to bet Cheney told Bush to respect his rich elite elders.  

Moe Howard's picture

I think Cheney is just another of the Elite's reliable yes men. He was assigned to Bush because Bush, when first elected, attempted to do those things he promised - he started to remove us from Europe militarily, he was against nation building, etc. That is why they brought on 9/11 - they realized he wasn't changing his spots, and they had to stop him. They did. Bush is just another sucker like the rest of us. He got in line with the neocon program right away after 9/11. Even Ron Paul mentions he advocates the same policies Bush did before 9/11.

Back to Cheney, he is not some "big cheese". He is the same as Obama, does what he is told by his handlers. He is a lapdog. Need more proof? He supported Trey Grayson over Rand Paul in KY Rep. primary. Trey Grayson quit his job as sec of state in Ky to take a job at the Harvard John F. Kennedy School of Government after the election. Turned over one of the few Republican elected positions in state executive branch to a unelected Democrat. Get it? They both work for the Statist Party.

mcguire's picture

just for the record, fdr was a freemason/illuminist..  assumed the title of Grand master of the order of demolay, in the white house, no less.  you know, demolay of baphomet fame.. so, more like friday the 13th than halloween. "In politics, nothing happens by accident. If it happens, you can bet it was planned that way."-FDR

Smiddywesson's picture

Politics is a dirty game, and FDR was elected four times.  Nuff said.

baltbear's picture

I'll follow that reasoning to note that all the "righteous" complaining is evidence of un-electability,

and therefore irrelevance.

Taku's picture

BBC reported "Europe will not slide back into recession, and the euro remains "strong and resilient", the president of the European Commission has said"

You know what that means.

Moe Howard's picture

Your scale is real. Lately I have been wondering about the link between our loss of liberty for security and the timeline related to women getting the vote in the USA. They seem linked, as if logic was replaced with emotion in the electorate over time, not that there were no stupid voters before women voted. Something to think about.

I do know I have a basic understanding of arithmetic, so I always understood that little if any Social Security would be there for me when my race was done, I am 6 years from any possibility of drawing money, I am quite sure they will expend it all by then.

Bicycle Repairman's picture

Typically women outlived their husbands by about 8 years.  If a husband died, his wage ended.  Her support ended.  What would a woman do?  Vote for social security, that's what.

Rodent Freikorps's picture

All of these programs got started because they were a nice idea.

Unfortunately, the government runs them, so mission creep, cronyism and just plain old fraud turns them into never ending money pits.

GoinFawr's picture

They still are 'nice ideas', and exist in a civilization near you, quite successfully too. Mostly  because they haven't been sabotaged by any  'gov't', yet, though I understand the process is well underway.


Lord Koos's picture

Nice to know that this forum is not only full of jew-baiters 'n haters, but chauvanists as well.  Evil Social Security, it's the fault of women being able to vote. The amount of room-temperature IQ around here is amazing.

topcallingtroll's picture

women tend to vote for statist solutions and helping the poor and giving away OPM.  There is a gender divide here.

sun tzu's picture

blah blah blah racism sexism blah blah

dwdollar's picture

The '...ism' card is a good example of diminishing returns.  It just doesn't work anymore.

Max Hunter's picture

ism, ism, ism, on the label, label, label, you will like it, like it, like it, on your table, table, table,,   Nice little jingle for those of you older than 40.. :)

linrom's picture

If you really want to know what's going on, stop reading ZH. There is only one blogger here: ILENE, that still caries his head on his shoulders instead between his legs and that includes almost ALL the TDs. If I was Brad Pitt I would file for trademark infringement. One thing is certain: Tyler Durden they're not.

sun tzu's picture

Why is your sorry ass here? Go pick up your welfare check

RSloane's picture

He must be waiting on a ride.

RSloane's picture

Ilene is our foreign correspondent with talkpointsmemo and balloon juice. Ilene doesn't carry his head - it floats in a shallow pool of red kool-aid.

Bicycle Repairman's picture

Lord Koos

First I'm not a jew-baiter, you piece of shit.  Second I merely pointed out that voting for SS is a rational decision for women.  Who, besides you, does irrational, dumb ass things?  Finally, I am a supporter of SS.  The fact that you are not aware of that tells me that you are a newbie with an air conditioned IQ.  STFU until you've read a little bit.  And then STFU.

kkam's picture

In traditional society before the breakdown of the family, the woman's security was her children, her family. As it still is (albeit fast eroding) in many Asian societies. Perhaps welfarism is the cause of the breakdown of the modern family structure, not its effect.

Bicycle Repairman's picture

Don't want to be pointly-headed here, but the assumption that something must be either a cause or effect is not always true.  Two words: feedback loop.

baltbear's picture

Three mre words: unknown factors uncounted.


topcallingtroll's picture

The end of liberty came about when the property requirement for the vote was taken away in the 19th century and poll taxes were taken away in the 20th century.  If you don't have an ownership interest in a business then you don't give a shit if it is run into the ground just as long as you get something out of it.  The something for nothing mentality is what eventually kills democracies.

Alexander Hamilton said that if people without property were allowed to vote they would start voting to take away property from others.