Quote from Cache Landing:
That's what I'm getting from it too. A decision that had to be made. The other option was a complete collapse of the US monetary system.
DeGaulle was tendering our obligations and demanding payment in gold and emptying Fort Knox. That was the catalyst for closing the gold window the way I understand it. What I don't recall was the price then. If it was still 35$ - the French would have been beating our brains in - what a deal!