Gold and the Dollar Crisis: The Future of Convertibility

accumulation adjustments assets balance of payments bancor bilateral billion borrowing cent of imports central banks convertibility country's current account devaluation dollar balances Dollar Holdings estimates Europe European Economic Community European Monetary Agreement excess exchange rate exchange restrictions Federal Reserve financing foreign exchange reserves France Fund deposits Fund's study Gold and Dollar Gold Delegation gold exchange standard gold production gold reserves gold sales gold standard gross reserves growth high reserve inconvertibility increase inflationary institutions international liquidity International Monetary Fund International Reserves key currency lending capacity liabilities member countries ments monetary gold monetary reserves Money Muddle national currency nineteenth century OEEC official overall policies postwar problem quota ratio readjustments reserve levels reserve position Reserves and Liquidity settlements short-term stability sterling area sterling balances surpluses Table tion trade and exchange trade and payments transactions U.S. dollars United Kingdom USSR sales world liquidity world monetary