Interesitng bit of obscure history but you get some basic facts wrong.
RobertNYC
1

Hello Robert,

Thank you for your considered and knowledgeable reply. I try, as always, not to get my facts wrong, and I hope at the face of it, and in what I state in the piece, I do not betray the nuances of monetary-policy as altered by Roosevelt’s order.

I claim that President Roosevelt suspended the gold standard, which my sources, including this site, operated by the Federal Reserve of Richmond, Virginia, clearly stated: “During the first phase, in the spring and summer of 1933, the Roosevelt administration suspended the gold standard.”

The terms of this suspension are, as you have helpfully pointed out, complex, with the Federal Reserve in some magnitude still tethered to gold, and that the dollar should not be considered, even during this brief period, a true fiat currency.

Thank you for opening up an illuminating dialogue, and if the text of the piece is inaccurate anywhere, you may message me here and I will do my best to amend it.

Sincerely,

Matt

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