Replies to post #41794 on FOREX TRADERS

[Ataglance2]

they have been trying to pawn off their fiat currency for a while..
in 1978 they tried to rid the world of gold so they could push their wares on the masses....

1978 - The IMF attempts to write gold out of the system
The Second Amendment of the IMF Articles was intended to delete gold from the international monetary system. The amendment followed the failure of previous attempts to establish a new international monetary system. In particular these included the failure of European countries to force the United States to either settle its deficit in gold, or else devalue the dollar against gold.

Not only did the United States refuse to keep gold in the system, it then led a crusade against gold (while being careful to keep a very large strategic stock of gold in its own reserve, sealed off from the outside world).

This Second Amendment of the Articles barred members from fixing their exchange rates to gold and removed the obligation on members to conduct transactions in gold at the official gold price.

Symbolising the plan to drive gold out of the system, the IMF was instructed to dispose of 50 million ounces of its gold stock of 153 million ounces. It achieved this partly by sales to the market and partly by giving some gold to members in relation to their quotas.

Ironically, this exercise had the effect of spreading gold much more widely through the international community than ever before, and gave many countries a new interest in the gold market. Few countries showed any inclination to sell the gold handed to them, and in the vast majority of cases it continues to sit on their books.

http://www.gold.org/government_affairs/reserve_asset_management/central_bank_gold_agreements/