US: Let's Talk About A Bank Holiday

FDR did much of this during his ‘first 100 days’, in office, so there is precedent.

It is also what should have happened here in the first 100 days after the guarantee. For those in doubt, the minister has pretty much the authority in the guarantee act to do it with just an enabling act required. Of course, that would have required the guarantee not covering existing bonds… shame that was the case, really, wasn’t it?