CIA • 1983

YOUNG RELEASES FBI REPORT

0: A RonianA i Na../lh 1,falltvo(A, Declassified and Approved For Release 2013/09/13: CIA-RDP11M01338R000400470121-5 "?March 24, 1983 CONGRESSIONAL RECORD ? HOUSE H 1791 This assertion was recently made in a letter sent by the Federal Reserve to Senator WILLIAM PROXMIRE, a member of the Senate Banking Committee. The letter argued that because gold is a commodity used in jewelry and in in- dustry, it is subject to speculative in- fluences that are undesirable in set- ting up a stable monetary system. I find such an argument amazing, for it is precisely because gold is a commodity not subject to the manipu- lation of a bureaucracy in Washington or London that gold is desirable as money...