RESEARCH STUDY 26
The IMF and Gold
Revised edition, May 2001
(originally published as Research Study 20 in July 1998)
"...From the written material that survives it seems as though the possibility of a
basket including gold was never explicitly considered. In a subsequent article,
however,16 the late Sir Joseph Gold gave it as his opinion that even the partial use
of gold would be precluded. As the principle architect of the text of the 2nd
Amendment, his obiter dicta obviously carry weight. But, as I have suggested,
times have moved on and there is no longer any need to anathematize gold,
especially if its partial use in this way might improve the economic lot of a small
number of countries which need all the stability they can get.
The law, perhaps, is too important to be left to lawyers..."
Based on older post http://anotherfreegoldblog.blogspot.fi/2013/11/wgc-euro-dollar-and-gold.html
Wednesday, December 16, 2015
Source: "Reforming the World Monetary System: Fritz Machlup and the Bellagio Group" By Carol M Connell