Gold Hits Record Highs, US Economy "Collapsed"

[Hal4511]

COMEX Gold        1097.50        1.8000          0.1643%        1101.90 / 1086.50        2009-11-06 17:20:58-0500

[Callie]

IMF sells 200 tonnes of gold to India worth $6.7 billion
AFP 3 November 2009, 07:07am IST

WASHINGTON: The International Monetary Fund announced on Monday the sale of 200 tonnes of gold worth 6.7 billion dollars to India's central bank
to shore up IMF finances.
The sale to India was nearly half the amount that the Fund has targeted for sale over the coming years.

The IMF said the transaction, which was in the process of being settled, involved daily sales that were phased over a two-week period during October 19-30.

Each daily sale was conducted at a price set on the basis of market prices prevailing that day, it said, in accordance with the institution's founding document.

"I strongly welcome this transaction with the Reserve Bank of India," Dominique Strauss-Kahn, the IMF managing director, said in a statement.

"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."

The Washington-based IMF, which currently holds 3,217 tonnes of gold, is the third-largest official holder of the precious metal after the United States and Germany.

full article at link below

[Just A Clay Pot]

There ya go.

IMF sells gold, takes dollars.

Dollars are held by IMF, so as to not devalue dollar.

Gold goes up, dollar remains mostly constant (due to sales dollars being taken out of the market for the time being.)

IMF manipulates values of both.

Good find, Callie!

[chukars]

5,490 views  

[chukars]

Stu, You have a larger audience than Jim Sinclair.  

[Jennifleur]

Stu, You have a larger audience than Jim Sinclair.  

He's one of our resident geniuses.  It's a good thing we have Stu, because goodness knows most of us couldn't figure out what to do with this board without him.  He does most of the work.  That's why he gets the big paycheck with all those zeroes on it.  

[jessicas0778]

Stu, You have a larger audience than Jim Sinclair.  

He's one of our resident geniuses.  It's a good thing we have Stu, because goodness knows most of us couldn't figure out what to do with this board without him.  He does most of the work.  That's why he gets the big paycheck with all those zeroes on it.  

Yep, we can't afford gold around here... so he's getting all the soon to be worthless dollars!  

[Just A Clay Pot]

Seeing the patterns behind the gold activity and the economic response is just the fluff that we all are having to live through.  If we can help folks prepare for the storm ahead, woot!

But, most important is the fact that the Kingdom of Jesus Christ is fast approaching.  Acceptance of Jesus as Son of God, perfect sacrifice for the sin of His people, risen from the dead and now alive and at the right hand of our Father--soon to return and establish His rule with His people--now, that's gold that lasts for eternity!  

So, buy gold now if you can, or silver if you can't afford gold, to weather the near-term disruptions ahead.  Keep a few weeks of preserved food on hand, and a water filtration device along with some stored water, to cover any supply problems that may occur.  But, most important of all, surrender to the Lordship of Jesus Christ, and the complete forgiveness of sin to be found in Him.  That will provide security of salvation and a calming peace in knowing that all the troubles ahead are just a blink of the eye in the big picture.

[willow]

Seeing the patterns behind the gold activity and the economic response is just the fluff that we all are having to live through.  If we can help folks prepare for the storm ahead, woot!

But, most important is the fact that the Kingdom of Jesus Christ is fast approaching.  Acceptance of Jesus as Son of God, perfect sacrifice for the sin of His people, risen from the dead and now alive and at the right hand of our Father--soon to return and establish His rule with His people--now, that's gold that lasts for eternity!  

So, buy gold now if you can, or silver if you can't afford gold, to weather the near-term disruptions ahead.  Keep a few weeks of preserved food on hand, and a water filtration device along with some stored water, to cover any supply problems that may occur.  But, most important of all, surrender to the Lordship of Jesus Christ, and the complete forgiveness of sin to be found in Him.  That will provide security of salvation and a calming peace in knowing that all the troubles ahead are just a blink of the eye in the big picture.

 I don't know a thing about "markets" or gold. I do know that I am RESTING in the palm of HIS hand, come what may....

[Hal4511]

Precious Metals

COMMODITY                          PRICE     CHANGE    %CHANGE    TIME
==============================    ========    ======    =======    =====
  GOLD 100 OZ FUTR (USD/t oz.)    1107.000    11.300    1.03    08:29
  SILVER FUTURE (USD/t oz.)         17.680     0.305    1.76    08:30