Geithner pushing for IMF to 'mobilize' gold

[rtchoke]

Re: Geithner pushing for IMF to 'mobilize' gold

I researched this issue in early 08, and was able to locate a chart showing the correlation between IMF Gold sales of the late 70's, and the advancing POG.

Sinclair' take: http://www.gata.org/node/5988

Do you have the location of this chart handy?

[Adeptus]

Re: Geithner pushing for IMF to 'mobilize' gold

You can't eat gold

Yes you can! http://www.delafee.com/edible-gold.php

you can't fight with gold

I bet if I threw one of these your way, I'd win. http://tinyurl.com/bcmfg6

you can't even put gol in your car

You sir, appear to be very misinformed: http://tinyurl.com/bdpv2w

:p;)

[Supercilious]

Re: Geithner pushing for IMF to 'mobilize' gold

According to http://www.fms.treas.gov/gold/current.html

Total - Treasury-Owned Gold 261,498,899.316 (FineTroy Ounces) $11,041,058,821.09

Thank you rokyoyster and thanks all for answer. I know very little about precious metals.

So if the Treasury has 261.5 mil of fine troy ounces of gold at the current spot prices, or let's say $1000oz, that means $261 bil. If the price goes to $4000 oz (in some crazy SHTF scenario) that means roughly $1trillion. That is not a lot compared to the size of the current black holes.

If they use that in a mix between BIS and IMF, tasked to enforcing a Breton Woods 3, maybe it can do the trick (I call Breton Woods 2 the current unofficial Chimerica agreement )

[LargoWinch]

Re: Geithner pushing for IMF to 'mobilize' gold

According to http://www.fms.treas.gov/gold/current.html

Total - Treasury-Owned Gold 261,498,899.316 (FineTroy Ounces) $11,041,058,821.09

If the above is true, then it does not even pay for Freddie Mac's last quarter shortfall.

[thisandthat.nowandth]

Re: Geithner pushing for IMF to 'mobilize' gold

Do you have the location of this chart handy?

Sorry, that was a couple hard drives ago - tried to relocate it tonight to no avail. If it's any help, here's is a written history of IMF gold sales: http://www.imf.org/external/np/exr/facts/gold.htm


US gold reserves are still valued at the official rate of $42.222 oz. Interesting note is that the Federal Reserve holds a claim against 'our' gold reserves in the form of Treasury issued gold certificates. You'll find the entry listed on the Fed H.4.1 under Gold Certificate Account.
http://www.federalreserve.gov/releases/h41/Current/

IOW, the Treasury, and the Fed, each claim the official gold reserves as an asset on their respective balance sheets - go figure. L. Rockwell and others have drawn attention to this peculiarity - J. Turk is quoted on this practice in a 2001 GATA report:

"The U.S. Gold Reserve does double duty. It sits in the vaults at Fort Knox and the other depositories, but the U.S. Treasury has issued Gold Certificates against it. The Federal Reserve owns these Gold Certificates, giving the Fed a claim to the 261.6 million ounces in the U.S. Gold Reserve."

GATA Says Much of U.S. Gold Reserve is Encumbered - CBS MarketWatch

[*T*]

Re: Geithner pushing for IMF to 'mobilize' gold

What would you rather have:

The US Military

or

The Chinese Military + the world gold reserves?


You can't eat gold, you can't fight with gold, you can't even put gold in your car. It's pretty useless.

While I am no fan of might makes right, trust me, might != gold. Might == guns.

b) please. How else to pay for a)?

[Sharky]

Re: Geithner pushing for IMF to 'mobilize' gold

You can't eat gold, you can't fight with gold, you can't even put gold in your car. It's pretty useless.

Oh, come on. Gold is money. That's like saying money is pretty useless: you can't eat money, you can't fight with money and you can't put money in your car. But you can certainly buy food with gold, buy soldiers with gold and buy oil with gold. Doesn't sound useless at all to me.

[jtabeb]

Re: Geithner pushing for IMF to 'mobilize' gold

Oh, come on. Gold is money. That's like saying money is pretty useless: you can't eat money, you can't fight with money and you can't put money in your car. But you can certainly buy food with gold, buy soldiers with gold and buy oil with gold. Doesn't sound useless at all to me.

gold is USELESS, you can't PRINT IT. What good is that?!?:p:p:p

[jtabeb]

Re: Geithner pushing for IMF to 'mobilize' gold

What would you rather have:

The US Military

or

The Chinese Military + the world gold reserves?


You can't eat gold, you can't fight with gold, you can't even put gold in your car. It's pretty useless.

While I am no fan of might makes right, trust me, might != gold. Might == guns.

Or I can be rich AND have might, it just takes Gold AND GUNS. Duh!

[Quincy K]

Re: Geithner pushing for IMF to 'mobilize' gold

b) please. How else to pay for a)?

by selling US Treasuries or printing dollars.

[strittmatter]

Re: Geithner pushing for IMF to 'mobilize' gold

Whoa... Where's the time machine?

I think Fred has it.

posted by Fred:

Where do I get one?

[LargoWinch]

Re: Geithner pushing for IMF to 'mobilize' gold

What would you rather have:

The US Military

or

The Chinese Military + the world gold reserves?


You can't eat gold, you can't fight with gold, you can't even put gold in your car. It's pretty useless.

While I am no fan of might makes right, trust me, might != gold. Might == guns.

Is it possible, blaze, that the USSR collapsed because they had too much gold and not enough nukes? or maybe that is the other way around?

[blazespinnaker]

Re: Geithner pushing for IMF to 'mobilize' gold

Is it possible, blaze, that the USSR collapsed because they had too much gold and not enough nukes? or maybe that is the other way around?

Absolutely, but that wasn't an issue of gold. That was an issue of a fundamentally unstable society.

Personally, I think the US is far more stable than China, especially considering China's economic well being is pretty much dependent on selling to the US.

Anyways, you know I love you guys. I'm just not a gold bug