The order allows the mining and refining of gold, but were the companies forced to sell to the federal government, or were they allowed to sell overseas? Did this have any noticeable impact on the domestic gold production in America overall?
I don't have any answers, but every time I hear about this event, I am just mind blown that it was real. So, I guess a follow-up question I have is... wasn't there huge outcry about this?
From my recollection, there was not much popular outcry. Most gold bullion was already held by banks, as backing for notes or CODs. Circumventing the rules was fairly trivial -- you simply fashioned the gold into ornaments or jewelery or some kind -- there was no law saying you couldn't own as many gold necklaces as you wanted.