Thanks for the refresh. I like your Bear's eye view as it is one based on historical data and not rely on Fibonacci patterns or other such fantasies.
What most folks don't realize about our gold reserves was that President Johnson sold off about 12,000 tons of the 20,000 plus tons we started Breton Woods with. This was to pay for his guns and butter policies of Viet Nam and Great Society (plus our mission to the moon).
When Charles DeGaulle started to notice this drawdown he made demands on what remained to pay for American trade deficits with France (the ungrateful SOB who was quick to forget that we liberated France with a lot of American blood and treasure). Also folks started cashing in gold certificate bank notes. If Nixon hadn't closed the gold window we wouldn't have the 8,000 tons we do now. Probably nothing.
Also it was expected by Breton Woods that the US would continue to build its reserves from confiscated Nazi gold and payments from other countries for their war debts. We never got much if any gold from this or the Marshall plan investments we made.
This message was edited by jpdell33 on 1-16-22 @ 3:41 PM
jpdell33
01-16-2022 @ 1:10 PM