DE-MONETIZATION OF Gold

1944, The Bretton Woods Agreement established that central banks (National Banks) would use the USA dollar as their reserve currency. The US dollar was redeemable in gold bullion at fixed price of $35/oz. (only by national governments and their central banks). The bankers have ignored the de-monetization of gold in 1971, in much the same way that they ignored the de-monetization of silver in 1963.

Central banks still keep their interest-bearing T-bills and other U$ dollar-based assets as part of their legal reserves. They have kept some gold, but since 1971 on most reserves are dollar-denominated assets, not gold. The global use of oil provided the critical link to the U$ dollar that forced most money economies to turn to it.   Of course all oil producers had to agree to the pricing of oil in the U.S. $.   And they did.

The truth is ... Government Tresuries can set the markets and effect the purchase value of money by creating more paper money backed by nothing but a NATIONS tax payers promise to pay future taxes THUS the ability to print money is limitless.