IMF to sell 403 tons of gold

dimples

The IMF once again threatens to sell 403 tons of gold. It seems every time gold starts to move they decide to sell which never amounts to anything. Is this a ploy to get gold to drop or hold?

mhammerman

Well, recent posts attest to the huge short positions in gold by US banks so you can be damn sure they will use rumor and any other ploy in their arsenal to get paid for their shorts. The gold doesn't really get sold into the open market so, it's not like there will be more available or that supply at your local B&M will rise. With the people pulling their money out of stocks and not putting any more in, it has become a desperate battle by the money people to keep the investors making bets in the great liar's poker game they are dealing in the back room. The battle is on now, well, probably better termed as "the game", crush the shorts!

edited to add:Saving money?

PerryHall

<< <i>The IMF once again threatens to sell 403 tons of gold. It seems every time gold starts to move they decide to sell which never amounts to anything. Is this a ploy to get gold to drop or hold? >>



How much gold does the IMF hold? They can play this game for only so long before they run out of gold.

rgCoinGuy

I have a feeling even if they did this, it would go fast.... China Mulls 4000 ton increase in gold reserves

ProofCollection

Yep, China will take it all. No worries.

roadrunner

The IMF trots out this 400 ton "side show" each time gold gets frothy. It's happened nearly every year for the past several years. If you did an internet search for IMF gold sales, you'd come up with thousands of hits going back many years. Suffice to say they hold an empty cannon. Most of the 3000 tons or so of gold they think they "own" probably is owned by other nations. To sell any gold they heed approval by the US as well as a host of other leading nations. In the rare event that the IMF actually sold some gold, China or Russia would be happy to buy the whole thing. A sale via central banks does not get piece-mealed on to the open market but rather goes right to other central banks. The only effect on the system is purely pyshological and then to only those who have not seen this tired and lame, one trick pony trotted out once each year into the center ring for a nostalgic bow.

roadrunner

mhammerman

Yepper, RR...same ol' show but this time it might be different the way people respond. It used to be that people that lept on to the gold train jumped off as soon as one of these rumors surfaced. Of course, there was never any follow up "400 tons of gold sold by IMF" that head line has never appeared because it never happened...it was just rumor spread to discourage gold and sure enough, the spot would sink shortly after the rumor was planted by the media. Before, people were skittish about gold and all the money people had to do was drag out that rumor again and gold would start to sink and everyone would jump off of the gold train but now people realize that there is no safe haven in the equity markets and there is no capital out there to play and and people are tired of being a tool for the bankerz. And then they see this rumor again and they say..."Hey, didn't I see that rumor before, like every year for the last three or four years in a row?". Finally, we may have a chance to crush the gold shorts and wipe the paper boys out of the game so we have a level playing field. Crush the shorts!

jmski52

I hope they do sell it. I wanna see it delivered.

mhammerman

Here's an example...from last year, same 403 tons IMF gold sale

57loaded

an article via mineweb link

percyb

Have them call me. I'll give them a bid for it all.

COINB0Y

Market yawned on the news!

COINB0Y

<< <i>The IMF trots out this 400 ton "side show" each time gold gets frothy. It's happened nearly every year for the past several years. If you did an internet search for IMF gold sales, you'd come up with thousands of hits going back many years. Suffice to say they hold an empty cannon. Most of the 3000 tons or so of gold they think they "own" probably is owned by other nations. To sell any gold they heed approval by the US as well as a host of other leading nations. In the rare event that the IMF actually sold some gold, China or Russia would be happy to buy the whole thing. A sale via central banks does not get piece-mealed on to the open market but rather goes right to other central banks. The only effect on the system is purely pyshological and then to only those who have not seen this tired and lame, one trick pony trotted out once each year into the center ring for a nostalgic bow.

roadrunner >>





Words mean nothing anymore. Look at Govt, say one thing, but always do the opposite.

Talk is cheaper the BAC or C stock, only actions are to be believed.

roadrunner

I hope they do sell it. I wanna see it delivered.

Me too. Considering that few central banks/nations are stupid enough to sell gold at this time, it would be interesting to see the IMF whittle down their holdings. The central bank sales can't even get to the 500 tons per year they have scheduled because none of them are dumb enough to sell....that is w/o a back door agreement with the US/UK that pays them a hefty premium for being "stupid."

Good old Gordon Brown of the UK is still feeling the wrath of the nation for being stupid enough to sell 50% of the UK gold holdings about 6 or 7 years ago for a measly $255/oz...the very bottom of the market. But I'm sure the US was indebted to them for helping out the strong dollar cause.

roadrunner

ProofCollection

It will be interesting to see what happens with the gold price this year with no (or few) large government sales.

Norseman88

<< <i>Have them call me. I'll give them a bid for it all. >>




Listen, you seem like a tough negotiator so if you can secure a sizeable amount for under melt I'll give you melt for a fair amount of it

Norseman88

Same old same old from the crooks who seemingly control anything and everything in the world's financial system.

coynclecter

Actually if you look at the article it was a release by Reuters just as gold was flying high. They were quoting an interview that was two months old. The IMF had no new release it was Reuters that was used as the tool of the bullion banks to try and break the price surge.

I had to laugh , it was so status quo for them. As we can tell the act was too stale to work.

illini420

I hope they do, then maybe the mint would be able to get enough gold to quickly fill all of their orders so we can finally clear out all of the UHR posts on the coin forum!!!

Is 403 tons really even that much when looking at the world market??? I have no clue...

ttown

Sounds like China would be a buyer of all of this plus they want more!

Dow Jones reported in November that China’s central bank is considering raising its gold reserve by 4,000 metric tonnes from 600 tonnes to diversify risks brought by the country’s huge foreign exchange reserves, according to a Chinese newspaper


Chinese Are Diversifying into Gold Over U.S. Concerns

roadrunner

400 tons is a sizeable amount of gold. But out of the total 165,000 tons mined over the centuries, it is a tiny amount. It represents about 15% of world wide annual production. When gold was flying at times during the 2003-2007 period, this amount of gold plopped on the market did sizeable damage in turning the pog quickly. It's not quite that way today following the derailment of the major banks.

With only 2500 or so tons of gold mined each year (1.5% of the total existing), the investment demand of gold far outstrips that of jewelry or art demand. Note that the "inflation" or mining rate of gold is 1.5% per year which pales to the +10% printing press average that many larger nation currencies have been doing over the past 10 years.

The recent 28,000 short positions placed on the Comex by 2 or 3 major banks represents about the same value as 400 tons of gold.

roadrunner

trozau

IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt