Zero Hedge has recently presented several declassified documents from the pre-1971 “Nixon Shock” days, that endorse the case for gold as a major historical factor in US monetary and foreign policy, as demonstrated by State Department and CIA disclosure. Gold’s special status in policy and administrative decision-making was a direct factor in Nixon’s choice to abolish the gold reserve at a time of an exploding budget deficit.
Yet what about the days after 1971, and specifically, how did that critical “behind the scenes” organization, the Federal Reserve, perceive and manipulate gold in the post Bretton-Woods world? Was gold, freed from its shackles to the dollar, once again merely a symbolic representation for money?
Zero Hedge presents the smoking gun that may provide responses to all the various open questions, courtesy of a declassified memorandum, written by none other than the then Fed Chairman, addressed to the president of the United States.