Web15 Aug 2024 · It was as significant as Britain’s decision to break the pound’s link with gold 40 years earlier in August 1931. That signalled the end of the classic 19th-century gold … Webindividual can sell his dollars to his central bank; the central bank can, if it chooses, buy gold from the U.S. Treasury with those dollars, thus re-ducing the American gold stock ac-cordingly. If this were done on a large scale, according to "dollar cri-sis" thinking, confidence in the dol-lar and its gold backing would be undermined.
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