"...6. IMF GOLD SALES. PALUMBO WAS RETICENT ABOUT DISCUSSING
POSSIBILITY THAT SOME CENTRAL BANKS MIGHT WISH
TO MAKE AT LEAST PRO FORMA PURCHASES OF IMF GOLD THROUGH
BIS. HOWEVER, HE SEEMED TO AGREE THAT SOME EUROPEAN CENTRAL
BANKS, INCLUDING SOME WHICH ARE NOT MEMBERS OF IMF
AND, THEREFORE, NOT SUBJECT TO IMF RULES (E.G., SWITZERLAND),
MIGHT PURCHASE SOME GOLD SO AS TO REASSURE MARKET THAT
THERE WOULD BE SOME SUPPORT FROM CENTRAL BANKS IF NECESSARY
TO AVOID ANY FUTURE SHARP DROP IN FREE MARKET PRICE OF GOLD.
VOLPE"
Source: https://www.wikileaks.org/plusd/cables/1975ROME18898_b.html
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