On January 30, 1934, the Gold Reserve Act prohibited private ownership of gold except under license. It allowed the government to pay its debts in dollars, not gold. It authorized FDR to devalue the gold dollar by 40 percent. He did this by increasing the price of gold, which had been $20.67 per ounce for … Continue reading Eric Roth Here Is Why Investors Are So Excited About Marianas Hot Maden Project