American Default(English, Paperback, Edwards Sebastian)

Know about the book -

American Default(English, Paperback, Edwards Sebastian) is written by Edwards Sebastian and published by Princeton University Press. It's available with International Standard Book Number or ISBN identification 0691196044 (ISBN 10) and 9780691196046 (ISBN 13).

The untold story of how FDR did the unthinkable to save the American economy The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression, he depreciated the US dollar in relation to gold, effectively annulling all debt contracts. From FDR's order for Americans to sell the government all their gold holdings to the Supreme Court confrontation that threatened to finish the New Deal, American Default provides a compelling account of an economic and legal drama that embroiled a nation.