IMF Is Now Rejecting Prospective Buyers For Its Gold Stash
March 26, 2010
– Comments (5)
This is a *very* interesting development!!
IMF Is Now Rejecting Prospective Buyers For Its Gold Stash
Submitted by Tyler Durden on 03/26/2010 12:42 -0500
http://www.zerohedge.com/article/imf-now-rejecting-prospective-buyers-its-gold-stash
In an exclusive report, Kitco has just released yet another stunner in the world of precious metals. It turns out that Eric Sprott has attempted to purchase gold from the IMF, according to information provided to Kitco by Frank Holmes, CEO of US Global Investors. "I just spoke with Eric Sprott, who bid to buy [the IMF's remaining gold on the block] and they refuse to sell it." As Kitco points out, "the IMF might be holding out for a bigger buyer or a central bank or for higher prices. But Holmes argues the IMF's rejection of Sprott's bid means markets are being manipulated." Back to Holmes: "I think there is a lot of manipulation done by governments around the world in the currency markets which affect the bond markets so to me it's just normal course." Holmes concludes "with an election year there may be a gold rally that could be two standard deviations, or $300 dollars, to the upside. So you could see gold run to $1300 to $1500 quite easily." This all is occurring as ever more pundits finally realize that as fiats are discredited across the world, the only safe, non-dilutable resource is gold.
Jesse at Jesse's Café Américain had this very insightful comment on the matter
The gold is slated to cover the central banks who leased out their gold and are now sh***ing their pants because they cannot buy it back in bulk without driving up the price and unsettling the ponzi shorts on Wall Street. The physical market is tight. If this is not the case, why won't they take bids for it from 'outsiders?' This gold sale and the Bank of England gold sale were in relief of the bullion banks and their government bureaucrats who get caught short. That is why they abhor the idea of audits as well. They do not have what they say they have. They lent it out, and it was sold.
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