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<p>[QUOTE="Blissskr, post: 2648980, member: 34882"]Sorry yes they were, they were abusing the spirit of the agreement by exchanging for gold at the rate we were forced to except via the outdated Bretton Woods agreement. To then take possession and sell or lease the gold at the much higher market price. They would have continued to do it over and over again until the entire U.S. gold reserves were depleted and Nixon rightfully ended the agreement.[/QUOTE]</p><p><br /></p>
[QUOTE="Blissskr, post: 2648980, member: 34882"]Sorry yes they were, they were abusing the spirit of the agreement by exchanging for gold at the rate we were forced to except via the outdated Bretton Woods agreement. To then take possession and sell or lease the gold at the much higher market price. They would have continued to do it over and over again until the entire U.S. gold reserves were depleted and Nixon rightfully ended the agreement.[/QUOTE]
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