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To: little jeremiah
Brenton Wood
oops...wrong wood
1,560 posted on 01/13/2024 7:39:32 PM PST by stylin19a (When one door closes and another door opens...you are probably in prison.)
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To: stylin19a

whoa. Into by the necrophile himself. “Brenton Wood - Give Me Some Kind Of Sign (1968)”

https://en.wikipedia.org/wiki/Bretton_Woods_system

Per wiki, Bretton Woods was signed in 1944 (note 4 is the number of foundation). Lots happening in 1968, that a message had to be put forth to the cabal players...

“While West Germany agreed not to purchase gold from the U.S., and agreed to hold dollars instead, the pressure on both the dollar and the pound sterling continued. In January 1968 Johnson imposed a series of measures designed to end gold outflow, and to increase U.S. exports. This was unsuccessful, however, as in mid-March 1968 a dollar run on gold ensued through the free market in London, the London Gold Pool was dissolved, initially by the institution of ad hoc UK bank holidays at the request of the U.S. government. This was followed by a full closure of the London gold market, also at the request of the U.S. government, until a series of meetings were held that attempted to rescue or reform the existing system.[43]”

“All attempts to maintain the peg collapsed in November 1968, and a new policy program attempted to convert the Bretton Woods system into an enforcement mechanism of floating the gold peg, which would be set by either fiat policy or by a restriction to honor foreign accounts. The collapse of the gold pool and the refusal of the pool members to trade gold with private entities—on 18 March 1968 the Congress of the United States repealed the 25% requirement of gold backing of the dollar[44]—as well as the U.S. pledge to suspend gold sales to governments that trade in the private markets,[45] led to the expansion of the private markets for international gold trade, in which the price of gold rose much higher than the official dollar price.[46][47] U.S. gold reserves remained depleted due to the actions of some nations, notably France,[47] which continued to build up their own gold reserves.”

“By 1968, the attempt to defend the dollar at a fixed peg of $35/ounce, the policy of the Eisenhower, Kennedy and Johnson administrations, had become increasingly untenable. Gold outflows from the U.S. accelerated, and despite gaining assurances from Germany and other nations to hold gold, the unbalanced spending of the Johnson administration had transformed the dollar shortage of the 1940s and 1950s into a dollar glut by the 1960s. In 1967, the IMF agreed in Rio de Janeiro to replace the tranche division set up in 1946. Special drawing rights (SDRs) were set as equal to one U.S. dollar but were not usable for transactions other than between banks and the IMF. Nations were required to accept holding SDRs equal to three times their allotment, and interest would be charged, or credited, to each nation based on their SDR holding. The original interest rate was 1.5%.”
“The intent of the SDR system was to prevent nations from buying pegged gold and selling it at the higher free market price and give nations a reason to hold dollars by crediting interest, at the same time setting a clear limit to the amount of dollars that could be held.”

“Main article: Nixon Shock
A negative balance of payments, growing public debt incurred by the Vietnam War and Great Society programs, and monetary inflation by the Federal Reserve caused the dollar to become increasingly overvalued.[49] The drain on U.S. gold reserves culminated with the London Gold Pool collapse in March 1968.[50] By 1970, the U.S. had seen its gold coverage deteriorate from 55% to 22%. This, in the view of neoclassical economists, represented the point where holders of the dollar had lost faith in the ability of the U.S. to cut budget and trade deficits.”


1,608 posted on 01/14/2024 5:34:29 AM PST by smileyface ("The illuminati's whole philosophy demands the use, abuse, sacrifice and consumption of children.")
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