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To Boldly Go Where

States could pay off the debt in U.S. dollars. The United States, on the other hand, had to exchange dollars for gold, if requested, to pay off a creditor country. Central banks in creditor countries began converting accruals of dollars into gold and threatened to convert their reserve balances as well. As a result, gold was leaving the United

Actived: Just Now

URL: https://files.stlouisfed.org/research/publications/regional/93/07/ToBoldlyGo.pdf

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