Friday, December 18, 2015

Dick Ware - The IMF and Gold


The IMF and Gold

Revised edition, May 2001

(originally published as Research Study 20 in July 1998)

by Dick Ware

"...From the written material that survives it seems as though the possibility of a basket including gold was never explicitly considered. In a subsequent article, however,16 the late Sir Joseph Gold gave it as his opinion that even the partial use of gold would be precluded. As the principle architect of the text of the 2nd Amendment, his obiter dicta obviously carry weight. But, as I have suggested, times have moved on and there is no longer any need to anathematize gold, especially if its partial use in this way might improve the economic lot of a small number of countries which need all the stability they can get. The law, perhaps, is too important to be left to lawyers..."


Based on older post

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