On March 6, 1933, every bank in the United States ceased operations. Franklin Roosevelt had just taken office two days prior. For three years, Americans had been withdrawing their savings from banks they had lost faith in… Consequently, Roosevelt decided to close all banks for nearly a week… During this time, examiners meticulously reviewed the financial records and categorized every bank in America into two groups: those deemed stable enough to reopen and those that were not. Thousands of banks were never permitted to reopen. When the banks finally opened their doors again, a surge of deposits followed… Within two weeks, almost half of the cash that Americans had stashed away was redeposited… Within a year… Washington adjusted the value of the dollar’s backing… increasing the price of gold from $20.67 to $35 per ounce… First, cleanse and filter the financial system. Second, revalue the currency. Iraq is currently following the same process…
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