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Penny Collector Member
383 Posts |
 Posted - 02/21/2009 : 20:38:58
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Latest gold rumor, did Japan buy 400 Tonnes of IMF gold?
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Did Japan Just Buy the IMF's 400 Tonnes of Gold?
by Adrian Burridge
$100 billion from Japan for 400 tonnes of gold works out to about $7,500 per ounce.
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What else would Japan have gotten in return for the funds?
IMF was selling 400 tonnes. (32,151 ounces per tonne multiplied by 400 multiplied by 7,500 = $96.45 billion).
Japan was lending money.
What else did the IMF have in the way of assets to sell?
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Japan at 765 tonnes per the latest World Gold Council statistical report would have moved past Switzerland into 6th place if I am correct on Japan buying the 400 tonnes of gold from the IMF.
What you cannot stop, you must endorse.
$7,000 also happens to be the price of a well made suit according to this New York Times article this weekend.
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It has been said that one ounce of gold would buy you a well made suit after the American Revolutionary War, The end of the Civil War, the end of World War Two and the end of the Gulf War.
The fashions may change but high quality products demand high quality money to pay for them.
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I change with the times-
but like silver coins found in your change
I stay the same.
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The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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