by Craig Hemke
Sprott Money
About a decade ago, the organization Wikileaks unearthed and released a very interesting memo from December of 1974. Given the counter-intuitive price action of last Friday, I thought it might be instructive to review again what Wikileaks found.
First let’s review the timing of the memo. As you can see below, it’s dated December 10, 1974. Why is that important? COMEX gold futures trading began on December 31, 1974.
Next, note that this memo originated with the Department of the Treasury in London and was sent to the U.S Department of State. Here’s a link to the entire document: