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If IMF were tight on cash, would they sell their gold?

rooksmithrooksmith Posts: 971 ✭✭✭✭
in Precious Metals
If the IMF were tight on cash, would they sell their gold? And if so, when?

Seems like that would be a logical thing for them to do to raise cash to lend to third-world nations with collapsing currency.

I think there is more than market forces at work here.

(and no, I'm not talking Rothschild family conspiracy theory).
“When you don't know what you're talking about, it's hard to know when you're finished.” - Tommy Smothers

Comments

  • derrybderryb Posts: 36,941 ✭✭✭✭✭
    Rumor has it they already have:

    IMF Gold Sale?

    Looks like the soon to explode eastern europe financial crisis might bankrupt the IMF and result in a blow-up of the Europen Union which is heavily leveraged to the east. Looks like the "Global Economy" wasn't such a good idea after all.

    Next wave of banking crisis

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • LongshotLongshot Posts: 353
    If they did, the Chinese and Russians would most likely buy it up without a ripple in the price.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The Chinese would like nothing better than to swap US treasuries and/or dollars for 400 tons in gold.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • rooksmithrooksmith Posts: 971 ✭✭✭✭
    OK since I started this thread: Gold is not just supply and demand, but it gets very interesting when currencies are at stake. The IMF is severley underfunded, and the USD - proxy for "stable currency" is dropping steadilly. The US govt. has just agreed to a 3 TRILLION dollar bailout.

    What that adds up to is : the IMF can bail out smaller countries currencies, but doesnt have enough reserves overall. So Gold will drop when the IMF bails out countries like Thailand or Argentina, but the US is shooting the moon.. (inflation be damned).

    My take : wait for gold to drop to 700 and buy buy buy!! (sorry gold coin flippers).

    Also - expect gold to be at $3000 in 10 years!
    “When you don't know what you're talking about, it's hard to know when you're finished.” - Tommy Smothers
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