IMF to sell 400 tons of Gold!

[Mega]

http://economictimes.indiatimes.com/...ow/5029572.cms

Now, strangly i seem to recall the IMF has said this before, & that was BEFORE China told her 1.3 Billion people to go buy it!

Mike

[swannmex]

Re: IMF to sell 400 tons of Gold!

Jim Sinclair's thoughts on the IMF sale

The Reality Of The Pre-G20 MOPE (Management of Perspective Economics)

Posted: Sep 18 2009 By: Jim Sinclair Post Edited: September 18, 2009 at 8:10 pm

There has been a lot of good MOPE prior to the G20 event with gold above $1000.

1. IMF sales will never touch the gold market, but be absorbed by central banks seeking to diversify out of dollars.

2. IMF sales in the 1970s that had a market relationship via auction tranche sales took place in the conditions of a rising market.

3. IMF sales in the 1970s were credited with providing the means for major interests to enter the market in the 1970s by buying singular blocks of physical gold at one net price.

4. The value in dollars of IMF gold sales is peanuts at $13 billion when compared to at least $500 billion dollars remaining in Chinese reserves that are seeking diversification.

5. There is absolutely nothing new here from the July 27th IMF announcement as this vote after the US agreed in July was a foregone conclusion.

6. This is a repeat of the July 2009 releases which you know certainly did not stand in gold’s way. This won’t either.

To the gold long this is well timed pre-G20 MOPE that will not injure the trend of gold in any sense, nor will it improve the dollar’s weak position.

Regards,
Jim

[Jay]

Re: IMF to sell 400 tons of Gold!

Announcements like these are usually bullish.

[Starving Steve]

Re: IMF to sell 400 tons of Gold!

IMF sales indicate that the U.S. is selling gold thru the IMF facade. This is a sign of weakness in the dollar, not strength. :rolleyes:

And when Ft. Knox is empty, what comes next? The selling of federal lands? The selling of federal buildings? The selling of real estate assets on deposit at the Federal Reserve Bank? More quantitative easing by Bernanke? Negative nominal interest rates? The selling of Special Drawing Rights (SDRs) by the Fed? Selling of NYSE stocks by the Fed? A new world currency? Devaluation of the dollar? Trade barriers and tariffs?

Not to be dramatic in an analogy, but a dying soldier often hemmorages (sp?)-to-death on the battlefield. This might be what we are witnessing now in the case of the death of the U.S. Dollar.

Interesting times, indeed!