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Nope - the Olympic flag is a modern item. It signifies the five continents where the Olympics are held - and at least one of the colours of the rings appears on every flag of the participating countries.
Though the Olympic Rings are coloured in those five colours, the flag as a whole has six colours: White, Red, Yellow, Green, Blue and Black. At the introducation of the flag, in 1914, those six colours were all the colours that appeared in the flags of the nations participating in the Olympic Games.
There were no Winter Olympics in 2004.
Thirty-two?
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