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lquadland10 (< 20)

I will give you paper for your Gold says the IMF.

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August 25, 2008 – Comments (0) | RELATED TICKERS: FSLR , MON , POT

People are hording gold part of the powers that be decided to sell gold. But the question is to whom and for how much. Each other? Price fixing? Why do they want you to buy paper that is thin air? The answer to me is that they don't have as much as they say they do. So as prices come down they can replenish their supply. The other though is they don't want us to have the gold to survive the coming collapse. I lean more towards the latter. As gold prices come down then I know that the IMF is selling.
Q. Has the IMF decided to sell gold?

A.
• No Executive Board decision to sell gold has been taken. Under the Articles of Agreement, a decision to sell gold requires an 85 percent majority of the total voting power.

• The United States authorities have informed the IMF that U.S. Congressional authorization by law would be required before the U.S. Executive Director could support a decision for the IMF to sell gold.

• The United States Treasury announced on February 25, 2008 that it will seek authority from Congress for a limited sale of gold, consistent with the Crockett Committee's recommendation.A Factsheet - February 2008

Gold in the IMF

Gold played a central role in the international monetary system until the collapse of the BrettonWoods system of fixed exchange rates in 1973. Since then, the role of gold has been gradually reduced. However, it is still an important asset in the reserve holdings of a number of countries, and the IMF remains one of the largest official holders of gold in the world.

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