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Gold Reserve Act of 1934

The Gold Reserve Act of 1934 as codified at 31 U.S.C. §5302, which authorizes the Secretary, with the President’s approval in certain cases, to deal in gold, foreign exchange, and other instruments of credit and securities.

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How does the Exchange Stabilization Fund work and what legal authorities govern its use?

The (ESF) is a reserve created in 1934 to enable rapid foreign-exchange and related financial operations; by statute it can buy and sell foreign currencies, hold Special Drawing Rights (SDRs) and prov...