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IMF Gold Dump (403 Tons)
Submitted by yankee on Sun, 09/20/2009 - 16:25
I'm guessing Gold will lose $35 Monday. $850 by Friday. The fix is in. I'm not sure what Silver will do because there is less of it. This should make the Chinese happy. The World is run by criminals. http://www.news.com.au/perthnow/story/0,21498,26097779-951,0... http://rawstory.com/08/news/2009/09/19/international-monetar... » |
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The gold etf GLD has bought
The gold etf GLD has bought 58 tonnes in the last month. That is not bullish for gold, but it puts the IMF sale in perspective.
I explained about a month ago that the recent (at that time) sales by GLD were bullish for gold. However, there were other tailwinds for gold at the time. The only headwind for gold that I see now is extreme optimism. The increase in GLD holdings is an indication of that optimism.
gold 1014.70 - Tuesday 1 PM
gold 1014.70 - Tuesday 1 PM ET
I knew it wasn't going to
I knew it wasn't going to come down right away.. 400 tons is nothing...
to you and I it is huge but to Governments it is chickenfeed.. China is buying along with Russia and others. They.. the goldman sachs and maybe 1 or 2 other banks are getting their asses handed to them. this time they may get over run on their short positions.. they may not be3 able to manipulate the price down like they have in the past.
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
I Think The Tide Has Turned In The Gold Market.
Since the early 1980's GATA { Gold Anti-trust Action Committee } has documented evidence that the world price of Gold has been manipulated by the investment banks { Goldman Sachs, HSBC, J.P. Morgan, etc. } and some of the worlds central banks and IMF { Large holders of Gold } to keep the public investing in U.S. dollar denominated assets.
The manipulators scheme just might have come to an end, when China which now has enough monetary assets to buy up the world's current supply of Gold.....and "Take Over" the world's monetary system from the IMF/BIS/FED !
Was the raising of the Chinese flag over the White house last Sunday September 20th, an announcement to the world that the world's monetary system was now under Chinese control???
The smartest Chinese studied U.S. history to try to understand exactly how the U.S. had become the wealthiest nation on earth, and lo and behold, the answer was to allow the people to earn, spend, and buy things among themselves interest and taxation free! Using Gold/Silver money that was un-encumbered with any liability. { Not an I.O.U. } Because this monetary system gave incentive to the millions of workers who understood that if they worked hard, saved some of their Gold/Silver money, which had an un-limited life span, eventually their families would be rewarded with prosperity.
Gold--The Money Of Kings !
.....And Me and Ron Paul !
beesting
Is it 972 yet?
NYMEX closed two hours ago. Is it 972 yet?
They sell it to central
They sell it to central banks, but it can still be seen as filling some of the demand that central banks have for gold that they would have filled from gold suppliers.
With India and China demand, a drop in the bucket that is having some small short-term effect.
China Weighs Purchase of IMF Gold
China is considering buying gold being offered for sale by the International Monetary Fund, Market News International said on Monday, citing two unnamed government sources, but the report could not immediately be confirmed.
...The estimated $13 billion cost of the is small beer for the Chinese exchequer, with foreign exchange reserves of more than $2 trillion.
If it decided to buy the gold, China would be likely to seek a discount for the bulk purchase, since a market sale would put heavy pressure on the price.
The IMF has said it will try to sell the gold, one-eighth of its holdings, to central banks.
If there are no takers, it could sell to the market, which saw world gold demand of 3,880 tonnes last year, according to World Gold Council figures.
The huge increase in reserves that China announced earlier this year had had little impact on the market because the gold was accumulated over a long period and mainly through direct purchases from Chinese producers.
http://www.cnbc.com/id/32949115
Second link of topic
The fund is required by its founding document to conduct all gold sales at market prices.
Old news seldom moves the market!
The IMF had announced this gold sale months ago, and China made it clear they wanted to be the buyer.
Rumors were, they were going to trade US securities for it.
The price of gold as we speak is NOT affected. This IMF gold sale is a MUTE issue regarding furture pricing.
hjschaapman
The Winds of Change!
Moot!
Moot!
Just checked it at 09:10 est to see a dramatic swing
The dollar is ascending vertically and gold is decending at the same pitch.....
For Freedom!
For Freedom!
STUGOTS! To the high and felutent establishment!
Paultian Powerhouse!
That doesn't seem to have
That doesn't seem to have lasted long at all. Seems USD is back on the way down & Gold heading back up...
...
Gold down 7.20, silver down .30 in over night as of 6:13 am
... to be continued...
Let´s see what effect it has..
/Mike
Front Fell Off
http://www.youtube.com/watch?v=WcU4t6zRAKg
/Mike
Front Fell Off
http://www.youtube.com/watch?v=WcU4t6zRAKg
If it were going to have an
If it were going to have an effect, it would have happened in June, right?
The map
The map, friend, is not the territory.
Why is that, the article is dated 9/19/09
That was Saturday.
June 18
The US Congress okayed the sale, and it was reported on the IMF website on June 18. Read the comments below.
http://www.imf.org/external/pubs/ft/survey/so/2009/NEW061809...
Random ramblings.
Something just occurred to me. (It can happen.)
The IMF has said it will sell the gold at market prices, but not on the open market. That sets up a situation for China and whoever else might be a customer. They can go into the the futures market short.
The spot price fell about $5 when the IMF arrangement was first approved in June, but it rebounded straight away and then gained 10%. It's down about $7 in Hong Kong as I type this. Can't make too much of that just yet, because silver is down even more percentage-wise. That happens when the general market declines, and market futures are indicating a lower open.
Is it too soon to withdraw my offer to wager? I still do not anticipate 972.60 tomorrow. Last chance.
Gold under $1000
11 PM Sunday
A bullish event for gold.
First of all, this gold does not hit the market; it just goes from the IMF to a central bank in exchange for $$$. So the Chinese or Russians get rid of some of their dollar reserves to the IMF and the IMF gives them gold. What does the IMF do with the $$$; spends it or loan it out? What do the Chinese or Russians do with the gold; keep it as a reserve?
All this does is make the IMF weaker and the Chinese or Russians stronger. The West just adds a few more cards to the already crumbling house of cards.
I don't think gold is going to $850, but rather $2,000 by October, 2010, and silver goes along for the ride too.
The announced bank sales of gold over the years are just part of the attempt to manipulate the price, and they don't work any better than central bank currency manipulation. People seem to forget that if there is a seller, there is also a buyer, so why would you conclude that the sell side of the transaction would have any greater impact on driving down the price than the buy side will have on driving up the price.
"The deepest sin against the human mind is to believe things without evidence." Thomas H. Huxley
I would not buy Gold @ the current prices. 1000 $ for 1 ounce.
I pledge allegiance to the Constitution of The United States of America and to The Republic for which it stands. One Nation FREE AND INDEPENDENT with LIBERTY AND JUSTICE FOR ALL!
I pledge allegiance to the Constitution of The United States of America and to The Republic for which it stands. Fifty states FREE AND INDEPENDENT with LIBERTY AND JUSTICE FOR ALL!
so I guess you won't buy at
so I guess you won't buy at 2000.00 an ounce either?? what will you do when you wake up and realize you missed the train?
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
A prudent man foresees the difficulties ahead and prepares for them; the simpleton goes blindly on and suffers the consequences. Proverbs 22:3
Matthew 10:34 Think not that I am come to
send peace on earth: I came not to send peace,
but a sword.
It happened in June
I heard about it in June. It was attached to the Military Supplemental Budget Bill! I follow some gold bug web sites. But it's also smart to keep up with the IMF web site.
Of course the IMF is going to go through with it. Politicians never propose rules that they do not intend to exploit as soon as possible. Some of the gold that Roosevelt stole in 1934 will be used by the IMF for "the game called bailout" as described in The Creature From Jekyll Island, and your government approved it earlier this year.
Have a nice day.
Supplemental Appropriations
Supplemental Appropriations Act 2009 was introduced May 14, 2009. Good to have a timeline.
Any chance this is a cover
Any chance this is a cover to get some of the gold back to Fort Knox before an audit? They would have had to pass it very fast.
Old news.
Old news. Congress approved it three months ago. June 18 to be specific. Since then, gold is up over 10%.
IMF just endorsed it, but no
IMF just endorsed it, but no surprise there. Did anybody hear about these plans back in June?
Imf didnt endorse
China demanded
I heard about it in June.
I heard about it in June. I follow some gold bug web sites.
Of course the IMF is going to go through with it. Politicians never propose rules that they do not intend to exploit as soon as possible. Some of the gold that Roosevelt stole in 1934 will be used by the IMF for "the game called bailout" as described in The Creature From Jekyll Island, and your government approved it earlier this year. It was attached to the Military Supplemental Budget Bill!
Have a nice day.
http://www.imf.org/external/pubs/ft/survey/so/2009/NEW061809...