France general gold

What happened to French gold in the 1960s?

Gold researcher Jan Nieuwenhuijs today provides a fascinating and extraordinarily detailed history of France's famous but generally unexamined departure from Western gold price suppression policy and the repatriation of French gold reserves from the United States and United Kingdom in the 1960s and early '70s.

Why did France convert dollar reserves into gold?

The French continued to accumulate dollar reserves and convert them into gold (73 percent of French reserves by December 31, 1964 - The New York Times, April 20, 1966), as part of an evolving official policy.

What is the French position on gold?

France took a firm stance on gold in the Bretton Woods International System, as expressed by the Minister of Finance's call for a solemn declaration for the world's leading financial powers to settle their international debts only in gold.

Did France buy gold in 1960?

According to I.M.F. statistics, France bought gold from the U.S. Treasury in 1960, most of which was done by converting French dollar holdings (The Journal of Commerce, November 4, 1960).

When did French support a gold standard?

During the 1960 to 1968 period, French positions favorable to a pure gold standard appeared to follow instances where the American government was more entrenched in its refusal to reconsider an international monetary regime based on the gold-dollar standard.

When did the French convert dollars into gold?

The French began to convert dollars into gold in early 1965 (The New York Times, January 5, 1965).