gold run up? The IMF needed the $$$$$$

MrOrganic

http://www.bloomberg.com/apps/news?pid=20601087&sid=aI4fr1DhjXRc

“These sales will be conducted in a responsible and transparent manner that avoids disruption of the gold market,” IMF Managing Director Dominique Strauss-Kahn said in the statement.


LOL They just admitted they have the power to effect *cough* control the markets

coynclecter

Such a joke, why dont we just print them 13 bil, just like the billions we gave to the international bankers.

This is just more going to the same international bankers.

roadrunner

The "sales" will be secret. They may not even have the 403 tonnes but rather paper instead. All they really care about is continuing to spread the word of gold on sale. Having the same announcement for the 23rd time last Friday after markets closed gave the required effect. Crying wolf only works for so many times. Even so they got a $5 drop on gold when the IMF board approved the sale...as if they wouldn't? Giving all the gold to China to other CB's would have zero effects. If they really wanted to hit gold they should sell it into the broad market with much fanfare. Of course that would not be minimizing market effects of which they claim to be concerned about. The Chinese would be happy to buy it all for $13BILL or even $15BILL regardless of what they've said about getting a good deal on it...lol.

The Chinese have hundreds of billions of US dollars to spend for more gold and would buy 30X that quantity today if the gold were made available at $1050-$1200/oz in one shot.

roadrunner

ttown

China reported to consider buying IMF gold

jmski52

Who would've ever thought that it would take Communist China to force financial honesty onto the West's Central Bankers? All we can do is watch.

KUCH

Well said. What is the USA buying? The answer ...... more debt.