Gold revaluation from 20.67$ to 35$ in 1934

By rfbroadband on Wed, Feb 3, 2016 - 6:21pm

I am trying to understand how the value of  35$/oz for the gold revaluation were chosen in 1934. Prior to that the money supply was falling and by changing the value of gold from 20.67$ to 35$ the government transferred effectively 11B$ to the FED balance sheet (not sure if I remember that correctly..)

So why 35$? Why not 40$% or any other value? Does anyone know any references, articles, books or web links that explain how the 35$ were chosen? I am interested to understand more details about the FED balance sheet, US debt etc in a bit more detail (with specific numbers) prior and after the gold revaluation.

thanks in advance.

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