• Proclamation 2039 was issued by US President Franklin Delano Roosevelt in 1933 in response to a series of bank runs in the US during the Great Depression.
• The week-long bank holiday prevented citizens from withdrawing money, making a transfer, or depositing money.
• Bitcoin was created after this financial crisis, as a decentralized currency that cannot be shut down by government intervention.
Why Proclamation 2039 Is Relevant
Proclamation 2039 marks 90 years since it was issued by US President Franklin Delano Roosevelt in 1933. This proclamation was made in response to a series of bank runs that developed following the 1929 Wall Street panic and the start of the Great Depression. For one week beginning on March 6, 1933, banks across the United States were closed by order of President Roosevelt and no one could withdraw money, make a transfer, or deposit money during this period.
The Impact Of Proclamation 2039
The Emergency Banking Act of 1933 followed Proclamation 2039 which allowed for greater oversight and regulation of banks throughout America. Trust in the financial system took a hit as citizens feared a rapid decline in the value of paper currency and tried to redeem their paper notes for gold reserves at banks around the country. This led to depleted gold reserves at Federal Reserve Bank of New York which eventually prompted Proclamation 2039 as well as other new legislation designed to protect people’s savings and restore faith in banking institutions.
Bitcoin’s Response To The Financial Crisis
In 2009, Bitcoin was created after another global financial crisis where governments had once again stepped in to bail out failing banks across many countries. Faced with distrustful citizens who wanted some way to keep their money safe without relying on government-backed institutions, Bitcoin emerged as an alternative digital asset with its own peer-to-peer network that wasn’t subject to manipulation from outside forces or interference from any government bodies. As long as people had access to computers connected to the internet, they could store their BTC safely without fear of being shut down or having funds taken away from them suddenly due to political instability or economic turmoil elsewhere around the world.
Why You Should Consider Owning Some Bitcoin
As we mark 90 years since Proclamation 2039 today, we are reminded why Bitcoin was created and why it is important for individuals looking for greater financial security during uncertain times like these when trust in traditional banking systems is waning yet again due to current economic conditions around the world. While some may still choose more traditional forms of saving such as cash under mattresses or physical gold investments stored securely offsite – owning some cryptocurrency such as Bitcoin can offer additional peace of mind if you are able stay up-to-date with trends regarding digital assets and security practices surrounding crypto wallets and exchanges where you buy/sell coins online.
Conclusion
It has been 90 years since Proclamation 2039 declared a bank holiday across America – reminding us why Bitcoin was created and why it is important now more than ever before for individuals looking for an alternative form of storing value without relying solely on traditional banking systems that may not always be reliable going forward into 2021 (and beyond).