| Author |
 Topic  |
|
|
pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 03/04/2008 : 18:20:43
|
You must be logged in to see this link.
Long post, have to scroll down to get to the meat of the story-
A. IMF is planning to sell 400 tons of gold to pay its debt (officially) and depress the price of gold (unofficially)
B. The Meat of the Story-
The US government began to manipulate the price of gold soon after officially announcing that the US dollar was no longer convertible. Because all currencies were no longer tied to gold via the US dollar, all paper currencies were potentially vulnerable to any rise in gold's price. And, because of this, Central Bankers around the world were forced to collude with the US to collectively suppress its value. Central Bankers would call this process "managing gold".
The US government's first act to "manage" gold took place in December 1974 when it announced it would be selling two million ounces of gold. The price of gold, which had begun to rise after being de-linked from the US dollar, fell on the news that a large supply was soon to be available. This was exactly what the US government wanted.
Next, in 1975 the International Monetary Fund, which has often functioned as an extension of the US, announced it would sell 25 million ounces of its gold.
These two announcements alone would have been more than enough to drive the price of gold significantly lower
except for one not-insignificant detail
- at the exact same time, US inflation rates began spiraling out of control.
From 1976 to 1980, US inflation increased from 5.22 % to 13.91 % and the price of gold responded accordingly; skyrocketing from $102 per ounce in 1976 to $850 in 1980.
Instead of forcing gold down, the market absorbed all the gold the US and IMF sold and then some.
.......Inflation fell only after the US Federal Reserve raised interest rate to 21.5% in December 1980.
....Let's see, gold went from $102 to a high of $850 in four years.
Could history repeat itself?
Will silver & gold go up more in the future?
Time will tell.
|
|
|
Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 03/04/2008 : 20:59:19
|
Thanks Pencilvanian.
Yet more confirmation of what I've (we've) all feared is coming. First really good, concise historical "blueprint" that I've seen for things to come, again.
Wonder why this sort of thing doesn't come up on Google......? (Government media complex.....?)
|
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
|
 |
|
|
insurrection1517
Penny Collector Member
USA
262 Posts |
|
|
misteroman
Administrator
USA
2565 Posts |
Posted - 03/05/2008 : 13:01:37
|
| Where did you see silver at 21.71 or over 21 for that matter |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
|
|
|
insurrection1517
Penny Collector Member
USA
262 Posts |
|
|
pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/05/2008 : 19:14:37
|
You must be logged in to see this link.
IMF gold reserves refers to 3,217 tonnes of gold held by the International Monetary Fund.
gold reserves in tonnes 2007
US 8,133.5
Germany 3,417.4
International Monetary Fund 3,217.3
France 2,622.3
Italy 2,451.8
Switzerland 1,166.3
Japan 765.2
Netherlands 624.5
European Central Bank 604.7
People's Republic of China 600.0
Republic of China (Taiwan) 423.3
Portugal 382.6
Russia 438.2
India 357.7
Venezuela 356.8
United Kingdom 310.3
Austria 280.0
Lebanon 286.8
Pakistan 65.3
Belgium 227.6
Philippines 126.9
Bank for International Settlements 142.7
Algeria 173.6
Sweden 150.3
Libya 143.8
Saudi Arabia 143.0
Singapore 127.4
South Africa 124.1
Turkey 116.1
Spain 281.6
Romania 103.7
Poland 102.9
Indonesia 73.1
Thailand 84.0
Australia 79.8
Kuwait 79.0
Egypt 75.6
Denmark 66.5
Kazakhstan 62.7
|
|
|
|
Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 03/21/2008 : 01:48:59
|
| wowzy. that is some hoard of gold! |
my machine is running! |
|
|
|
copperbullion
Penny Pincher Member
Australia
136 Posts |
Posted - 03/21/2008 : 03:22:03
|
| Thats if you believe that the U.S still has their gold... lots of stories out there about no gold left in Fort Knox. |
|
|
|
HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/21/2008 : 12:04:30
|
| There is no gold left in Fort Knox. Pretty sure they moved what little they had to West Point. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
|
|
|
fiatboy
Administrator
912 Posts |
Posted - 03/21/2008 : 18:42:46
|
| There's never been a time when a central bank selling its gold depressed the price of gold. Usually it backfires and the prices rises substantially within a few months. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
|
|
| |
Topic |
|
IMF's gold sale, will it boomarang?
Forum Locked
