G20 Supports IMF's Plan to Sell 403 Tons of Gold

We don't want them to start treating gold as fiat money, and have a ton in the vault, and sell receipts in the order of 10 or 20 tons ;)

Peace

China and Russia will be big buyers. The US government is printing billions a week. This is a spit in the Ocean. A buying opportunity of a lifetime. I remember when the US government held gold auctions in the 70's. The gold market would go higher after every one of them. The only thing that stopped gold in the early 80's was Paul Volcker who contracted the money supply and drove interest rates to 21%. The opposite is happening today. The government is printing money beyond anyones dreams and supressing interest rates by monetizing the debt.Don't forget there are 500 trillion in interst rate sawps that are ticking every day.The credit default swap market represents 10-15% of the swap market vs. 70-80% for interest rate swaps. There is no way out of this Ron Paul Nation. This is why we worked so hard to get our man elected. The tragedy is Ron Paul's age 73.

I saw this article too that might be of interest to folk:
G20 and IMF Gold: A Late April Fools'

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Tracking gold, silver, and platinum with ExactPrice.

...both regional currencies and a world reserve currency:

http://uk.reuters.com/article/worldNews/idUKTRE5317U920090402

But I guess since this was only discussed at "bilateral meetings" and not at the official G20, it isn't supposed to be a headline.

The IMF sale of 400 tonnes of gold has less of an impact on gold prices than does market psychology. MORE than 400 tonnes are traded on the NYMEX every day, and that is just one of several major exchanges which trades gold. Theoretically, a single individual with $400 million in capital could "buy" enough futures contracts to offset the entire IMF gold sale. The IMF sale is insignificant compared to the volume of money traded by speculators in the financial markets.

They are giving us one more opportunity to buy. Don't cry that you didn't have fair warning.

The IMF uses fake gold transactions to change the value of the $42.50 an ounce gold on their books, they then forgive poor countries their debt.

So, why would they do that?

IT's STIMULUS! It clears the debt that prevents them (the bad borrowers ) from getting even more debt.

It allows BAD borrowers..SUB PRIME COUNTRIES to borrow more money.

Insignificant. A grain of sand...

If it was desired, the price of gold could be set to any relative FRN digit amplitude required. I guess we still have not figured this out, given the beginnings of a feeding frenzy at the mention of something like this.

The only commodity is time of use of the human machine, and it is traded among central banks as the relative FRN digit amplitude to any physical existence. The Creature From Jekyll Island???

When the gears stop the game will be over and actual living can begin. Until then; keep cheering...

"But, we have also run into a small inflation problem on account of the high level of leaf availability. Which means that I gather the current going rate has something like three major deciduous forests buying one ship's peanut. So, um, in order to obviate this problem and effectively revalue the leaf, we are about to embark on an extensive defoliation campaign, and um, burn down all the forests. I think that's a sensible move don't you? " The Hitchhiker's Guide to the Galaxy

So.. they are giving the U.S. all that gold? I mean, we're basically the poorest country simply based on the massive debt that we are in.....

Although central bankers are "expanding their balance sheets" with "quantitative easing" (electronic purchase of treasuries from the open market) they are careful to dump a shitload of metal onto the market at the same time.

This has happened before. Its nothing new. The UK government dumped half of its gold reserves under the current Labour administration. The gold price dipped for a while before surging to new highs.

http://brits4ronpaul.blogspot.com/

http://lpuk.blogspot.com/

http://northwestlibertarians.blogspot.com/

13 million ounces of gold is about $12 billion at today's price. So, I would assume that they are selling the gold to raise capital to then leverage out at 30-100 to 1 or more. If you notice from the G20, they talked about a $1trillion line of credit. So, is the selling of the 403 tons directly related to fundraising for this new $1trillion? Because at 100 to 1 leveraging, the $12 billion in proceeds from the sale of 403 tons would amount to the $1.2 trillion if it were leveraged at 100 to 1 in the same way the US gov't allowed Fannie and Freddie to leverage at those levels.