IMF's Gold Scam

IMF at thew most fortunate times comes to the aid of the Federal Reserve in trying to bully the gold price down. Well.... After all IMF is a subdivision of the Fed. They have been coming out with "news" releases every couple months announcing that they are selling their gold and yet they never do. The rare occasion was when India called their bluff and bought the majority of gold IMF "had" for sale. The result was an explosion in the price of gold. China calls the IMF's bluff, too, but did not end up buying any from the IMF yet as the IMF does not want to physically deliver the gold which is a no-go for the Chinese. Smartly so. India was OK with just getting the bookkeeping as well as a group of smaller central banks.

Recently, however, some money managers such as Eric Sprott and some others that are much larger than Eric Sprott are told to have tried to buy the gold the IMF supposedly had for sale, but they were refused by the IMF. Funny how that works. If the IMF keeps announcing the same thing over and over, why on earth are not selling the gold to these willing buyers???!!! Of course this is a rhetorical question. There are several reasons. One of them is that the gold belongs to the member countries and the IMF does not even have physical possession of the gold. The second is they do not want to deliver anything physical and want to make only a bookkeeping entry. That would not work with private investors such as Eric Sprott. These make it clear that the IMF is just trying to bully the gold price down in a concerted effort with The Fed and the likes of Gordon Brown. And that is just ugly.

The IMF is already a worldwide highly disliked institution. They are shown to statistically lower the living standards including health and education levels of the middle class and the poor in the countries they are involved in. You can see a lot more evidence and factual references in the book "The Debt Threat" by Noreena Hertz. Adding other unethical activities such as trying to manipulate what is supposed to be a free market is beyond hypocritical and puts the legitimacy of the IMF in question.

You can read more about this topic at GATA's website. Like usual GATA is doing a great job in uncovering the gold manipulation scam.