💰 US Government Made Gold Illegal: In 1933, during the Great Depression, the US government declared it illegal to hoard gold under Executive Order 6102. This was due to a dire economic crisis with unemployment at 25%.

📈 Gold Standard: At that time, the US was on the gold standard, meaning every dollar had to be backed by gold. For every dollar of gold bought, the government could print $2.50 in bills.

🔒 Seizing Gold: The government paid $20.67 per ounce of gold during the buyback, collecting over 5 million ounces and paying $1.7 billion for it. Non-compliance resulted in a $10,000 fine or up to 10 years in prison.

📊 Price Increase: In 1934, the government raised the price of gold to $35 per ounce, effectively inflating the dollar's value while keeping the amount of gold unchanged.

💵 Inflation Consequences: This manipulation allowed the government to print more money, leading to potential future inflation where basic goods could become extremely expensive.

🔗 Crypto Comparison: The video draws parallels between past government actions and potential future regulations on cryptocurrency. Unlike gold, crypto is harder to confiscate as it relies on private keys.

🌐 Future of Crypto: If governments declare war on cryptocurrency, the worst they can do is take down exchanges or nodes, but they cannot physically seize crypto like gold.

📜 Historical Lessons: The video emphasizes the importance of learning from history, as the signs seen by gold holders in the 1930s may reappear in the future.