- advertisements -
bull biskets ,, gold did not fall on this news. the little gold in the imf camp will be jerked off so fast on a sale,, that even soros will not be able to lie twice
Is this the same gold they've "promised" to sell for the last couple of years? Sell it... I dare them. Once they sell it... the only thing they'll be holding it jack sh!t. Bring it!!
Exactly...it's just another gig, another ploy or a covert distribution, until they are ready to spring a global currency.
how would they do that? god, it just irks me that somebody could just 'spring a global currency' out of nowhere. wtf. somebody do something about this IMF monster.
They'd have to dump that much once a week to soak up all the loose clownbucks out there.
you re never gonna hear the end of this from Mr. Bates, fyi ;)
Everytime they move this much, the top pops a few months later. get ready for gold $2500 by next October. Thats all this is. A little dip now, so what?
well this should "mop up some euros"...haha. Good time to sell too. Now that gold made a bob up as soon as the drama from the EZ had cleared. Take those solar doelarrs and buy more gold, ppppleaz!
I guess soon I will buy some miners. grrrr!
nice timing too, thin market.. why do they even announce that they are selling it ? They like getting a worse deal on it when the bids are pulled ?
From Wiki :
In 2007 China (with 276 tonnes) overtook South Africa as the world's largest gold producer, the first time since 1905 that South Africa has not been the largest.
Chinas mining industry is still very inefficient and most of what is going on is the transfer of mining claims in speculative gamble.
The true amount of production is not known and hidden behind comunist propaganda.
Its like every commodities trader would operate. Make the sellers believe you have no need for the goods.
China sucks !
"Reaffirms" and this is suppossed to have an affect on the markets? This is proof that the markets are rigged. This was not news! You know I got something else too...who cares anymore? This is all one big dog and pony show.....you haven't figured it out yet? FIGURE IT OUT!
Selling Gold. Gotta love it. Fiats crash and burn on the horizon and the IMF is going to sell their gold. I say go for it!!!
IMF needs walking around money for the coming disasters of the EuroZone crowd. And since the UST is IMF's biggest benefactor, the download serves Timmy's aim to give pause to the goldbugs and that pesky Soros, who is outsizing his position in paper GLD......now his largest holding.
ALL of the soveriegn debt whores must find buyers for their own paper. No way they want a wildebeest rush to gold......this move is just another croc in the river. The intenational scheme to subsidize massive debt is the name of the game......period.
yep, well said rain.
hey, in other news in an attempt for NY to catch Cali, the Gov here in NY announced that income tax refunds to New Yorkers might be held up a bit due to the cash crunch.
in the spirit of the olympics, it's nice to see NY make the extra effort to get on the podium behind Cali.
Damn, DH....NY is going for the old Wimpy Hamburger deal. Excellent. No messing around with those paper IOUs......( coming to Cali again very soon ). Of course , I'm furiously trying to get hold of the friggin' 1099s I need to get my taxes done before Arnie shuts down the refund window. He could go with the Wimpy deal any day now too.
Get them done soon! I already filed and am expecting a refund by next week. Wasn't going to deal with CA's nonsense. I have .308 ammo to buy!
Same hold up of returns here in North Carolina.
Sometimes it takes a bitch slap to remember what you were thinking...thanks
I'm pretty moody today.
Gold was drifting up again, something had to be done.
Gold keeps getting knocked down and then drifts up.
Gold is the tell, the antipropoganda. Leave it alone and it will sing the story of collapse and betrayal. They don't want gold to tell its tale, so for now, they do what they can to hold it down. Selling it to India jacked the price up. Ditto the other nations. We've seen it before.
Bring it on with your lying selves and your fucking reports about how to do "surprise devaluations" of the currency. Bring it on. Go ahead and speculate on how to "manage our expectations" for the economy. Sacks of shit care nothing for people. There is no reasoning with them. They must be thrown out or destroyed.
The FED. The IMF. The real bitches. The social contract is broken. This shit is on, it's war.
Gold is the older contract, the default contract, understood across nations and across time. They know this. Greenspan knows this, wrote a paper on it. The Bernanke knows this. Obama, dunno, maybe Volker schooled em.' We wandered away from gold, conned into thinking modernity would make fiat somehow "different" this time around. It's actually worse. Electronics are more fragile than paper.
Paper = tear, decay, and burn.
Electronic data = demagnetization, malfunction, or even E.M.P.
You're right of course.
Care for a back massage?
I'm with ya, Missy. It's war, but at this point they have the bigger guns. It'll take guerrilla warfare to win this skirmish.
Im moody too.
I love it when you are in a bitchy mood.
when? I like to think of her as Glenda, the good bitch of the east. She's wise and caring and has magical powers. She's only angry at the people who deserve it. She even lives up the phrase "there's no place like home" and pays off her mortgage early.
(sorry, my kids just went to see Wicked.)
Mmmm... the International Madoff Fund doing its best... honestly, what do we care? Let them bring the price back down to $250 by selling everything they have. That would be like a dream come true to me. You see, they are screwed in the end. And moves like this just get us to that end game a little faster.
I hate that everyone beat me to it but I love this post.
Sunspots perhaps? Makes a person cranky they say...
+yes, yes, yes
Interesting coincidence (?). 191.3 tons (1913).
They love numerology.
Sick, superstitious bastards.
That is like the freakin Virgin Mary and Elvis in my ham sandwich! I would have never caught that! You don't think that maybe the Fed will be disbanded on Dec 23, 2013 do you?
Um, from my screen - gold didn't really tumble at all? What's all the fuss about? The 200 tons probably already has a line-up of buyers.
17 Feb 2010 23:02 GMT
DJ UPDATE:IMF Board Approves Giving Latvia Access To EUR200M Of Loan
well they are already spending it
i mean. aa ... investing it.
Damnit! We need the IMF to stay out of Europe, haven't they don't enough to harm the 3rd world? Do they really need to attack the periphery states of Europe now too?
They've done a lot of bad stuff in Europe too. Eastern Europe. After communism regime went down.
They kind of changed their policy in the last 10 years. But still no real historical proof of really helping the country's.
Another reason to hate on the IMF. I'm going to visit there this summer and was hoping the foreigners would keep their hands off so they could default in peace. Like being oppressed for 50+ years by the soviets wasn't enough now the damn IMF thieves have to go in. Thanks for posting, this now I have to read up on.
Can't remember which one but in one of John le Carre's novels
he wrote something like "Poor Russia! Wanted to be European for so long but forced to become American."
Jimmy Rogers would likely say that central banks always get it wrong--like when the Bank of England sold a chunk of its gold at $250 in 1999. Bottom ticked the gold market. The IMF has all of 3000 tonnes, which is a good stash. So they sell some off, raise some cash, and piss it away on failing states. That's not a solution. I'll take the gold.
My man Jimmy !!
Even though out of town, I bought Au, Pt and Ag in my brief visit to Chigago.
My off-the-head calculation is that THESE purchases were the biggest of my life re physical PMs of my life even though I am NOT from eleswhere from the Midwest.
I am back at home now with what apparently appears to be a comfotable holding of gold, etc. Next up, I will buy firearms that we know how to shoot to keep our home safe.
maybe this is for george washington...
Greece is a boiling pot ready to explode. Things are going to turn ugly and soon as society here is fed up with illegal immigration and the deconstruction of our founding values. And I dont mean the "orange" riots of December 2008. I mean real riots... Here is how we got to this crisis:
the greeks are really something. when they get pissed they hit the streets. we should learn something from them.
News of IMF selling remaining gold on open market surprising to market, indicates IMF has been unable to find willing buyer for remaining gold, says HSBC analyst James Steel; implies that central bank demand for gold is not as robust as market expectations. "The idea that central banks may turn into net buyers of gold this year is an important element in the psychology of the rally," says Steel. Impact of IMF statement may keep pressure on prices for now, but HSBC expects non-official sector to absorb the remaining IMF gold. Fund to start gradual open-market sale of remaining 191.3 tons (out of a total of 403.3 tons) of gold stresses sales would be phased in over a long time to avoid disruptions to the market. IMF's stated preference is to sell gold to other central banks or supranational organizations. Spot gold at $1,105.80/oz, down $10.80 vs NY close
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.