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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: long-gone who wrote (65189)	3/9/2001 12:16:03 AM
From: long-gone	Read Replies (1) of 116768

hahahaha "Barbarous Relic" hahahaha Title: The Rise and Fall of a Barbarous Relic: The Role of Gold in the International Monetary SYstem Author-name: Michael D. Bordo Author-name: Barry Eichengreen Creation: Mar 1998 Abstract: In this paper we analyze the changing role of gold in the international monetary system, in particular the persistence of gold holdings by monetary authorities for 20 years following the breakdown of the Brettone Woods system system and the Second Amendment to the Articles of Agreement of the International Monetary Fund which severed the formal link to gold. We stress four points. First, the gold-exchange standard was a recent arrangement that emerged only around 1900 in response to a set of historically-specific factors which also help to account for it smooth operation. How long those factors would have continued to support it will never be known, due to a great war and then a great depression. Second, a system which relied on (cont) netec.wustl.edu

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