When did the Federal Reserve acquire America’s gold?

When Franklin Roosevelt issued the following proclamation: "By Executive Order of The President, issued April 5, 1933, all persons are required to deliver on or before May 1, 1933, all gold coin, gold bullion, and gold certificates now owned by them, to a Federal Reserve Bank, branch, or agency, or to any member bank of the Federal Reserve System." The important thing to note is to whom FDR was demanding the gold be delivered to. It wasn't the Treasury of the United States. It was the Federal Reserve Banks. Upon receiving the gold from the Citizens, the Federal Reserve Bank simply printed additional Federal Reserve Notes to pay for the gold.


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