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Monetary Gold

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Monetary gold
Gold held by governmental authorities as a financial asset.

Monetary Gold
Gold owned by a government, usually as part of its currency reserves. While no country now uses a gold standard, many states hold monetary gold as a (small) part of the many things that determine a currency's value, the bulk of which is the reserve of foreign currencies. As such, monetary gold has a small role in determining nations' monetary policies. Monetary gold is not traded, except between central banks and occasionally with international organizations such as the International Monetary Fund. See also: Foreign Exchange, Reserve asset.


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OF COURSE THE COMMITMENT OF the four central bank chiefs to revive the world was doomed to failure because it was founded on the myth that a return to pegging their currencies to a fixed measure of monetary gold was the key to stability and a return of public confidence.
In 1944, when the Breton Woods accords were made, the United States was the world's dominant military power, principal creditor, owner of 70% of all monetary gold and an oil exporter to boot.
The Federal Reserve Bank of New York holds the world's largest accumulation of monetary gold.
 
 
 
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