On the London Gold Exchange, the free-market value of the “dollar” (a Bill of Credit) falls to 40.00 “dollars” per ounce of gold (lawful Money) amid fears that Democratic (socialist/fascist) de facto senator John F. Kennedy, Esq., of the commonwealth of massachusetts, will be elected president and pursue and expansionist (inflationary) monetary policy. This creates a run on gold as the LGE is committed to maintain the price at 35 “dollars” per ounce, as per the Bretton Woods Agreement.
Postscript: Eleven days later Kennedy promised that if he won the election, he would maintain the convertibility of gold at 35.00 “dollars” per ounce.
NOTE: As an attorney (Officer of the Court) Kennedy was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].
[restored 9/27/2022] Thanks to Jim Lorenz for this entry.
Subsequent Events:
References:
**The Fed Debate in the 1960s over Sterilized Foreign Exchange Intervention**
www.marketskeptics.com/2015/10/fed-debate-in-1960s-over-sterilized.html