How the dollar gold peg became unsustainable.
In 1945 US gold holdings = $20.1 bn v. $ reserves outside US of $4.2bn
1972 $10.5bn in US gold holdings v $61.3bn in dollar reserves.
From a classic 1973 essay by Richard N. Cooper in @ForeignPolicy archive.
digital.olivesoftware.com/olive/APA/Fore… https://t.co/oIgm1ki0gd
RT @DFesterling: @adam_tooze quite a number of the russian officers were from baltic areas, speaking german; other officers hired guns
January 27, 2021
RT @DFesterling: @adam_tooze quite a number of the russian officers were from baltic areas, speaking german; other officers hired guns from…