The Bank Runs Of The Early 1930s And FDR’s Ban On Gold

http://blogs.forbes.com/richardsalsman/2011/04/06/the-bank-runs-of-the-early-1930s-and-fdrs-ban-on-gold/

The article is generally accurate, but a couple clarifications are in order,

1) After FDR confiscated private gold holdings via Executive Order 6102 in 1933, gold was re-priced from $20.67 to $35 in 1934.  That's how the author came up with this calculation:

...so FDR’s Treasury, not private gold owners, profited from the 60% gold-price jump.

2)  The price of gold remained fixed at $35 until 1971 when Nixon took us off the gold standard.  It was later officially re-valued to $42.22 in 1973 (where it remains today), despite a floating market price.  Hence, my confusion by the author's comment:

Since private gold holding was legalized, the gold price has increased by nearly eight-fold, from $185/ounce to $1464/ounce, and precisely because the U.S. dollar, officially unhinged from gold, has declined in basic purchasing power.

Overall, I agree with the tone and the basic premise of the article:  the price of gold will increase as long as the Fed and US Treasury continue to debase the USDollar.