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IMF to sell 200 tons of gold to India
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Dead Man Walking
User ID: 795057
11/2/2009 7:43 PM
Report abusive post | IMF to sell 200 tons of gold to India
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WASHINGTON, Nov. 2 (AP) - (Kyodo)—The International Monetary Fund said Monday it will sell 200 tons of gold to India's central bank for $6.7 billion as part of efforts to increase the Washington-based institution's capacity to lend to poor nations.
"I strongly welcome this transaction with the Reserve Bank of India," said IMF Managing Director Dominique Strauss-Kahn in a statement announcing the gold sale.
"This transaction is an important step toward achieving the objectives of the IMF's limited gold sales program, which are to help put the fund's finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries," he said.
The amount of gold to be sold to the Indian central bank represents almost half of the total sales volume of 403.3 tons over the coming years that was approved by the IMF Executive Board in September.
The 403.3 tons is one-eighth of the current holdings of the IMF. The IMF is the third-largest official holder of gold after the United States and Germany.
The last IMF gold sales took place in December 1999 and April 2000. |
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Anonymous Coward
User ID: 243849
11/2/2009 7:46 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
The question is whether or not the gold will be 99.999 pure and not filled with lead, tungsten or steel.
These central bankers need to be exterminated. |
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Anonymous Coward
User ID: 809003
11/2/2009 7:46 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
They might want to inspect the physical gold for the real deal! Drill it!
Too bad the World Bank/IMF just doesn't give them dollars...) |
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Anonymous Coward
User ID: 548111
11/2/2009 7:49 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
So this is India dumping $6.7b in dollar holdings? |
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Anonymous Coward
User ID: 809027
11/2/2009 8:33 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
The IMF will take the money in exchange for gold stock certificates.The Indian people are NOT stupid, and they know that the IMF doesn't actually have the gold but they must help keep this ILLUSION alive or else the entire world is going down financially..... |
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Anonymous Coward
User ID: 809003
11/2/2009 8:44 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
Gold stock certificates??
You've got to be kidding me???
That is as worthless as gold plated tungsten! |
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Anonymous Coward
User ID: 809027
11/2/2009 9:05 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
The are ALL just kicking the can down the road....Look at todays merger of Stanly Tools and Black and Decker....Both companies make shittty,crappy products anymore but they announced this news to AGAIN pump the fucking market.....Just the way Sears and K Mart did and they are nothing but Dead Men Walking! |
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ADEND
User ID: 758549
11/2/2009 9:09 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
So this is India dumping $6.7b in dollar holdings? Quoting: Anonymous Coward 548111 |
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Anonymous Coward
User ID: 654046
11/2/2009 9:20 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
the shell game continues,
I wonder who'll they sell it to next.., after this time. |
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Anonymous Coward
User ID: 809110
11/2/2009 11:00 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
 |
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Chiox 
User ID: 688004
11/2/2009 11:05 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
Indians LOVE gold. |
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Anonymous Coward
User ID: 809110
11/2/2009 11:10 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
So this is India dumping $6.7b in dollar holdings? Quoting: ADEND
its 285$ billion |
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Anonymous Coward
User ID: 809261
11/3/2009 7:55 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
TRINITY WHY NOT PIN THIS VERY IMP NEWS.200 TONS IS A LOT |
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Dead Man Walking
User ID: 795057 (OP)
11/3/2009 7:56 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
India found a way to drop the dollar. |
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Dead Man Walking
User ID: 795057 (OP)
11/3/2009 8:01 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
So this is India dumping $6.7b in dollar holdings? Quoting: ADEND
you got that right. |
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Anonymous Coward
User ID: 566027
11/3/2009 8:01 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
What was amazing, is that this EQUALS 9% of the WORLDS YEARLY GOLD PRODUCTION! Talk about sprinting away from the USD...
Then this:
"The transaction, which is in the process of being settled, involved daily sales that were phased over a two week period during October 19-30, 2009, with each daily sale conducted at a price set on the basis of market prices prevailing that day."
[link to newsusa.myfeedportal.com] |
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AC
User ID: 809314
11/3/2009 8:03 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
The IMF will sell India what looks like Gold but is'nt the inner core will be composed of a metal of similar specific graviety to that of Gold. the outer layer is real gold. |
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Avian
Got Gold?
User ID: 805698
11/3/2009 8:04 AM
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the gold was already sold...its not if...its a done deal...the gold was sold at market prices during the last 15 days of October
average price was 1045 US...yup dumping dollars for gold
smart indians
Avian
fight my brute now you chicken shits
[link to ack12345.mybrute.com]
-Benito Mussolini
"Fascism should more properly be called corporatism because it is the merger of state and corporate power."
–Joseph Goebbels
"The lie can be maintained only for such time as the State can shield the people from the political, economic and or military consequences of the lie...It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State." |
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Anonymous Coward
User ID: 566027
11/3/2009 8:11 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
I read that they actually EAT gold and silver - as a topping on certain cakes and things - talk about expensive tastes! |
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II-Neutron
User ID: 806646
11/3/2009 8:12 AM
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The IMF will sell India what looks like Gold but is'nt the inner core will be composed of a metal of similar specific graviety to that of Gold. the outer layer is real gold. Quoting: AC 809314
Where do you get these ideas?
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11 |
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GlassPearls
GlassPearls
User ID: 613866
11/3/2009 8:17 AM
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The IMF will sell India what looks like Gold but is'nt the inner core will be composed of a metal of similar specific graviety to that of Gold. the outer layer is real gold.
Where do you get these ideas? Quoting: II-Neutron
Um, probably the news this past week of China finding exactly that -- gold covered tungsten bars. These are bars being shipped from vaults of banks, etc. that are later found to contain less gold than advertised. |
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Anonymous Coward
User ID: 654301
11/3/2009 8:18 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
So this is India dumping $6.7b in dollar holdings? Quoting: Anonymous Coward 548111
smart move! |
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Anonymous Coward
User ID: 809417
11/3/2009 10:11 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
 |
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Anonymous Coward
User ID: 809417
11/3/2009 11:20 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
GOLD 1077! RECORD
DAMMIT TRIN FOR ONCE PIN THIS IMP NEWS |
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Dead Man Walking
User ID: 795057 (OP)
11/3/2009 11:22 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
Gold is climbing.... |
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Dead Man Walking
User ID: 795057 (OP)
11/3/2009 11:30 AM | | Re: IMF to sell 200 tons of gold to India | Quote |
1,078 |
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Dead Man Walking
User ID: 795057 (OP)
11/3/2009 8:37 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
mmmm just got in..I see silver is up big too! |
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Dead Man Walking
User ID: 795057 (OP)
11/4/2009 1:02 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
Is it possible that the gold that India supposedly purchased does in fact NOT exist? That the gold was used as part of the price supression scheme? That in order to cover the fact that there is NO physical gold, India is provided with the money to supposedly purchase the gold that is already in its care? Is this possibly WHY India got the purchase rather than China, because the physical gold DOES NOT exist for actual sale?
The gold market is the most manipulated and corrupt market on planet Earth. Think about this before you discount it. |
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Dead Man Walking
User ID: 795057 (OP)
11/4/2009 1:36 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
for updated thoughts/info. |
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Dead Man Walking
User ID: 795057 (OP)
11/4/2009 1:38 PM | | Re: IMF to sell 200 tons of gold to India | Quote |
I'm thinking Oil is the new reserve currency. |
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II-Neutron
User ID: 578949
11/4/2009 10:22 PM
| | Re: IMF to sell 200 tons of gold to India | Quote |
The IMF will sell India what looks like Gold but is'nt the inner core will be composed of a metal of similar specific graviety to that of Gold. the outer layer is real gold.
Where do you get these ideas?
Um, probably the news this past week of China finding exactly that -- gold covered tungsten bars. These are bars being shipped from vaults of banks, etc. that are later found to contain less gold than advertised. Quoting: GlassPearls
Thanks for the reply. Any links to the story? Or should I google it myself :-)
Unjust weights and measures.
Here comes the Judge!
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11 |
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