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Originally Posted by Hal

EO 6102 and EO 9066 sort of punch a hole in that idea don't they?

Executive Order 6102 (entitled "Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government") was based on the Trading with the Enemy Act of 1917, which provided:

During the time of war or during any other period of national emergency declared by the President, the President may (A) investigate, regulate, or prohibit, any transactions in foreign exchange, transfers of credit or payments between, by, through, or to any banking institution, and the importing, exporting, hoarding, melting, or earmarking of gold or silver coin or bullion, currency or securities

EO 6102 defined how much gold could be held before it constituted "hoarding" and what would be done with the excess.