Gold, page-3378

"In 1931 the gold price was lower than it was in 1929, the beginning of the Great Depression. Why would gold be in demand? It certainly wasn't then, the best insurance was land, food, livestock, a job, US Treasury Bonds, unencumbered property, and government stock."

Eh? The gold price in the US was the same in 1929 & 1931?? ($20.67). If anything there was a demand for gold because there was a US government guaranteed exchange. Homestake mining went up 519%. FDR revalued gold to $35 in 1933.