Tag Archives: gold reserve

How High Could Gold Go?

By Patrick A. Heller The U.S. Exchange Stabilization Fund (ESF) was established as part of the Gold Reserve Act of Jan. 31, 1934. It began operations in April that year, funded with $2 billion of the $2.8 billion paper profit … Continue reading

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The Bank of England Gold Sale Fiasco

This month marks the 20th anniversary of the decision by former British Chancellor of the Exchequer Gordon Brown to sell the majority of the British government’s gold reserves, a process that took two years. At the time, we predicted that … Continue reading

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