Ottawa Can’t Confiscate Gold, But That Won’t Save The Canadian Dollar

On January 30, 1934 the United States Government outlawed private ownership of gold.  Up to that point, gold circulated as currency in “the land of the Free,” with the US dollar fixed at $20.67 USD / oz. As a part of the gold confiscation, the US government revalued the dollar against gold to $35/oz, effectively … More Ottawa Can’t Confiscate Gold, But That Won’t Save The Canadian Dollar