pull down to refresh
'65, when Euros started asking to swap paper to gold, but it wasn't honored nor addressed
it was both honored and addressed. Honored: in the plenty of Europeans got their gold back (that story of French warship is probably fake, and the French repatriated gold from NYC all the way through the 1960s) Addressed: the gold market imbalances, and gold flowing out of the U.S., was the constant talking point of the 1960s.
that story of French warship is probably fake
Really? Is nothing what we were told it was?
pretty much.
I spent a few hours the other week for my fiat job tracing the history/evidence of that, and it's mostly just rumours on top of rumours... (you'd expect such an event to at least have a NYT picture or two??)
and then in formal French reports there's a steady transfer of gold holdings from New York to Paris already from 1963.
@denlillaapan wrote a SN post about this.
man, that is a good piece. Just re-read it.
I used to be quite good. Now I'm just a FT/Bloomberg rehasher
Considering that you're probably reading those pieces anyway, writing up a summary/rant about them is probably the more efficient use of time.
that's what I tell myself at least... especially, too, on days when there's a BIG sats pot available
And those so called allies are still allies after Nixon pulled the rugpull of the century? They did not even make a sound?
The way I understand it today, most of the trouble started under Johnson around '65, when Euros started asking to swap paper to gold, but it wasn't honored nor addressed and Nixon inherited not only a mess, but a bunch of allies that were pissy. Must have really sucked.
I'm still slowly studying this though, so I may revert this preliminary idea.