IMF to sell Gold Reserves
There couldn't possible be any monkey business going on here. All one has to do is to look at the above board dealings and beyond reproach activities between the federal government, Wall Street and the large banks over the last 100 years or so to realize this sale of our nation's gold is certainly what's best for "We the People" and won't benefit a handful of insiders.
By Jerome R. Corsi © 2008 WorldNetDaily
The International Monetary Fund says it plans to sell gold from its reserves, and the announcement at the Group of Seven (G7) meeting in Tokyo confirmed those moves could come as early as April.
The maneuver widely is understood to be aimed at an IMF goal of depressing the price of gold worldwide.
On Friday, gold surged to a high of $923 an ounce on international exchanges.
The IMF decision did not surprise financial analyst Michael Bolser, who has been predicting such a move for months in his subscription newsletter connected to his Interventional Analysis website.
The IMF goal appears to be to shove the price of gold back down into the $500 per ounce range, Bolser told WND in an exclusive telephone interview.
Bolser said a secondary goal is for the IMF to gain control of as much of the world's gold reserves as possible.
"This grab of IMF sovereign gold held in central banks around the world matches what the Federal Reserve did in 1934 when the Treasury grabbed U.S. citizen's wealth after a long and debilitating depression created by the Fed through excessive lending," Bolser said.
Technically, the gold held by the IMF is pledged by central banks when sovereign nations join the IMF.
The IMF then becomes a repository for gold pledged by members of the IMF, with the bulk of the gold held by the IMF pledged by the United States.
"The vast majority of gold analysts have been in denial that the IMF would make this move," Bolser said. "Now, I expect the gold experts to say the IMF gold sale will have no effect on the price of gold on world markets."
"We don't know how many tons the IMF will sell and when the sale will hit the market," he continued, "because so much of what the IMF does is intentionally hidden from public view through complex contracts and transactions that are typically not clearly disclosed."
"The goal of the Federal Reserve is to get the price of gold down and obtain for the larger central banks legal possession of the gold from the sovereign central banks," Bolser stressed.
"As a first step, the IMF will require its member nations to transfer gold from the smaller central banks into the larger central banks in the U.S. and perhaps the United Kingdom," he added.
"I don't expect an instantaneous market reaction to the IMF’s announcement this weekend," Bolser cautioned. "The IMF will make it appear as if the news didn't have any effect."
"But don't make any mistake about it," he continued. "The price of gold is now under assault from the IMF gold sale announcement and this weekend's disclosure was just the first wave."
"The IMF wants push the price of gold to $500 or below," he said, "and right now is not the time to be long holding gold."
In his subscription newsletter for Monday, Bolser reported that Goldman Sachs is stating internally that gold will stay where it is for the next 90 days, then fall dramatically in price, an analysis which support's Bolser’s analysis of the IMF announcement to sell gold.
Italian Economy Minister Tommaso Padoa-Schioppa, in making the IMF announcement at the G7 meeting in Toyko, told reporters the IMF agreement to sell gold would be finalized in April and would complement spending cuts currently being planned by the IMF under its new managing director, Dominique Strauss-Kahn.
Source: World Net Daily
This raises a question or two. Is the gold that's supposed to be in Fort Knox still there or is it being readied for sale by the IMF?
According to an article online in Reuters , gold held by the IMF is around 103.4 million ounces, worth some $92 BILLION at current market prices. Who gets that money when the IMF sells the gold of member nations? Is that all of the gold the IMF holds? Are they keeping some more of our gold stashed back for another Federal Reserve created financial "shell game?"
Maybe we should ask our reps on the IMF's Board of Governors, Secretary of the Treasury Henry Paulson and Federal Reserve Chairman Ben Bernanke.
The Reuters article says the IMF might invest in financial securities. Right. Like maybe the junk bonds that were peddled by the financial security industry and sold world-wide? The same junk mortgage bonds that created a world-wide Ponzi scheme that is now imploding from its own weight and corruption and threatening to bring another Great Depression on the world?
Is that where the hard earned wealth of nations is now heading, to give the hucksters, crooks and financial sharpies that created this mess in the first place more money to play with to help them cover their losses, while the rest of us drown in their sea of debt?
If you're interested in knowing what people with names like Bert Keuppens, Frank Harnischfeger and Leslie Lipschitz of the IMF's Senior Officials are doing, click
here to visit the IMF's web site listing these wizards of finance.
The IMF is selling gold into selective private hoards to try to depress the price, but given the severe problems looming in the South African mining sector with the denial and refiling of existing claims and the de-electrification of that country proceeding at a rapid pace, gold can not help but rise in this hyperinflationary depression.
I would, however, not bet that private citizens, soon to be subjects, will be allowed to possess gold much longer, especially if a gold backed currency emerges - say the ruble or the dinar. They have seized gold before and they will do it again.
South Africa is the new Zimbabwe.
One result of the Federal Reserve meltdown of the US economy could be to make the dollar so worthless that it is traded in for the North American Union coin of the realm, the Amero.
As for depressing the gold prices, why? Isn't the runup in gold price capitalism at its best?
That government shouldn't interfere with the market at work?
What happened to those "golden" rules of capitalism that the free marketers have been braying about for decades?
International Jewry is preparing for the new world currency "backed" by gold, all of which they, of course, will control. The Rothschilds have always been goldsmiths.
What will they name the new currency? ZioShek?
"When a strong man, fully armed, guards his own house,
his possessions are safe." Luke 11:21