The Hidden Role of Gold at the IMF

Off the bat: Currency Wars reveals a treasure trove of facts that provide a new light on (my) history (books). For example, General and President De Gaulle's breach of the informal understanding, leading to CWII. I had NEVER even begun to appreciate the effects there. A very neat explanation.

I have a couple questions. Basically, and perhaps the answer is in "Currency Wars" (into Ch. 6 to date), as a matter of international law, what forms of certificates of title control?

I have sifted Comex and NYSE Next / LIFFE's written, specified terms, and it appears certificates can be issued in fractional amounts, evidencing at least customary, exchanged consideration. Uniform amounts (i.e. decimal accouting - if memory's accurate) are paper proxy to the proportional interests of their expressed precious metal allocation; however, this appears to be binding in American law concerning "private parties." For example, an owner may hold a 1/10th certificate with Comex, which, based on positioning may increase, through the acquisition of nine more 10th certificates, to be exchanged for a larger proportional "interest" in remotely secured, private vaults. I believe a minimum amount of said certificates must be acquired before demand for mini or standard bars can honored.

One Comex agent responded to my querry concerning the terms, as to the certificate bearers right to take custody upon demand, to which she said it would be shipped and delivered from one of their remote (undisclosed?) locations.

Admittedly the puzzle pieces to this part confusion, mostly curiosity, is "hidden in plain view," but, the real comment-to-query trail is a two-parter:

1) What terms control and evidence authenticated "documents of title" ownership of precious metal via SDR issuance (governing IMF, et. al.)?

2) Might you be so kind as to refer a few authorities that can, like you, coherently delineate contractual terms and phrases from this international perspective, as opposed to more "regional" entities as the ones herebefore mentioned?

Regards.

Kip of CA 3:45AM April 24, 2012