US Congress APPROVES SALE OF IMF GOLD!

[jtabeb]

Guess why the price dropped today!


(You know what happened the last time central banks started selling gold, don't you?)

I wonder if China might buy "some".

Just a thought.

Here is the link:

http://www.bloomberg.com/apps/news?p...d=azS1VwKeTbKo

"Lawmakers agreed to Obama’s request to include $5 billion to secure $108 billion in aid, primarily in the form of a line of credit, to the International Monetary Fund. The legislation would permit U.S. representatives to the IMF to agree to its planned sale of 13 million ounces of gold, one-eighth of the organization’s holdings, to help finance aid to poor countries."



My take, El-Shit'O just hitt'O the fan'O!

[occdude]

Re: US Congress APPROVES SALE OF IMF GOLD!

When the IMF recently queried solicitors to buy their gold, the Chinese meekly raised their hands and said they were interested. When asked how much gold they were interested, again they replied meekly with "we'll buy it ALL".

If this action by the IMF forces gold prices down, "I'm a buyin".

[pwcmba]

Re: US Congress APPROVES SALE OF IMF GOLD!

Let the games begin! China will take it all at one price if so offered. Is any of that IMF gold leased? Is it all there?

[pwcmba]

Re: US Congress APPROVES SALE OF IMF GOLD!

If Brown's sale of half of the UK's gold near the low is any indication, this is very good indeed!

[metalman]

Re: US Congress APPROVES SALE OF IMF GOLD!

If Brown's sale of half of the UK's gold near the low is any indication, this is very good indeed!

our nitwit detectors oughta be pegged to 'max' on this one.

history of cb gold sales...

'we're going to sell our gold...'

gold price falls...

a few months later...

'we're going to sell our gold...'

gold price falls more...

a few months later...

'no, seriously, we're going to sell our gold...'

gold price falls more...

a few months later...

'no, seriously, we're going to sell our gold. this time we really mean it...'

then, after the price gets as low as they can possibly talk it down to, they sell.

how do you know when they have actually really truly honest to god sold it?

the price goes waaaaaaaaaay up.

those who forget history are doomed to repeat it.

[ThePythonicCow]

Re: US Congress APPROVES SALE OF IMF GOLD!

My take, El-Shit'O just hitt'O the fan'O!

Which fan? Do tell.