Why is France's buy-sell move reminding markets of 1971 crisis, when gold prices rose 2,000%?
France's central bank earned €12.2 billion using a trick buy-sell move it undertook for its gold reserves in US. This is spooking markets as it mirrors France's operation "Vide-Gousset", when it brought back 3,000-tonne gold on ships and aircraft to stop US dollar's growing prominence. Consequently, US ended the Bretton Woods system in 1971, which sent gold prices 2,000% higher.