IMF Gold Sales Don't Change Anything

Boris Sobolev writes the following:

"Many pundits have been calling for gold to correct since October. But the rally in gold has been strong, steady and without any sizable corrections. Much money is still sitting on the sidelines, waiting for a cheaper entry point. It is quite possible that this entry point is coming soon as the G7 has just agreed to allow the International Monetary Fund (IMF) to start selling a portion of its 3,200 tonne gold holdings to cover its running deficits. The details of the sale will not be known until April, but the most mentioned figure for the total tonnes up for sale is 400 or about one eighth of total IMF holdings.

It is difficult to guess gold’s reaction to the news, but it is clear that the metal’s fundamentals remain sound. Paper money is in oversupply, gold is in demand by investors and especially countries looking to diversify away from the US dollar. Undoubtedly, buyers for extra gold offered by the IMF will be easily found. IMF sales don’t change anything."

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The ECB Rate Rebels

By Nico Isaac

On January 28, the annual International Monetary Fund meeting was held in Davos, Switzerland. There, the world’s economic leaders came together to address the central concerns facing the global marketplace.

Result: the European Central Bank was put under more fire than a spit-roasting pig.

The short version is that the ECB has opted not to join the U.S. Federal Reserve’s rate-cutting crusade; instead, holding rates firmly to a six-year high of 4% since June 2007. Lofty rates, so say the "experts," keep the euro at record-high levels, which further compounds the setbacks currently facing Eurozone economic growth.

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The International Muggers Fund

This is the new boss at the IMF, Dominique Strauss-Kahn.

He is affiliated to the Socialist Party in France. The political ideology of the Socialist Party is Social democracy. So what is socialism? The wolf disguised in sheeps clothing, namely communism.

From the Fabian Socialists, our dear friends John Maynard Keynes and Harry Dexter White were delegates at 1944's United Nations Monetary and Financial Conference, where of course the IMF was found. Brilliant!

No wonder the financial system is a mess. Socialists managing capitalism! Hah! I however believe it is the other way around. It is the Socialists working towards the destruction of capitalism through the use of inflation.

And that, ladies and gentleman, is what the Fed is busy doing to the dollar. Inflating, deflating, inflating, deflating until such time the US Dollar as the World Reserve Currency implodes, which will herald the day of whatever new or other currency they have up their sleeves.

The UN is part of this Global Hegemony of Socialists/Communists, and this is what one lone individual, namely Ron Paul, is up against.

A vote against Ron Paul is a vote in favour of this abomination that is devouring our freedom. Essentially, Ron Paul is fighting for the freedom of every individual on this planet.

Wake Up !!!

Inflation Warning

The Financial Times reports the following story:

IMF head in shock fiscal warning

The intensifying credit crunch is so severe that lower interest rates alone will not be enough “to get out of the turmoil we are in”, Dominique Strauss-Kahn, the managing director of the International Monetary Fund, warned at the weekend.

In a dramatic volte face for an international body that as recently as the autumn called for “continued fiscal consolidation” in the US, Dominique Strauss-Kahn, the new IMF head, gave a green light for the proposed US fiscal stimulus package and called for other countries to follow suit. “I don’t think we would get rid of the crisis with just monetary tools,” he said, adding “a new fiscal policy is probably today an accurate way to answer the crisis”.

My comment: The "shocking" part for me in this article is that the IMF MD is calling for defecit spending, interest rate cuts and more monetary inflation. This is what got the global economic landscape into the trouble it is in today! Watch your local Central Bank for rate cuts when it is actually supposed to be increasing rates. Deja vu anyone?

It's like a Doctor prescribing IcyHot/Deep Heat for Jock-Itch !