Posted on 06/19/2009 1:16:32 PM PDT by atomic_dog
I’m guessing the 400 tons is all paper. It’ll be interesting to see how this effects spot prices.
So 400 tons is about $1.6 billion dollars, right? Is 0bama trying to prove he can pay for his health-care initiative??
I calculate 12.16 billion at $950/ounce.
This administration is TOTALLY out of control.
I hope it pushes spot prices down temporarily.
Long term, I am short the IMF and long gold.
Let them eat cake: this is a scary policy which aims to boost the world’s “self esteem” to be “more like us the Marie Antoinettes” as crazed spenders.
Policy makers of this bill and IMF are nuts. It will never work and usher catastrophy. It’s complete elite hypocrisy or lunacy to pretend they want the world to be just as rich as they are.
Who would be so stupid... ah.. never mind.
Bottom line, this is the U.S. taxpayer’s gold and it is being sold to fund more what used to be called “foreign aid.”
How do you short the IMF, is it an ETF? That’d be interesting.
The IMF is now becoming a scam about to be tanked by Marxist politics and blackmail.
The great Messiah at the bailout world rescue game again.
This is emotional dictatorship.
The great Messiah at the bailout world rescue game again.
This is emotional dictatorship.
::::::::
I wonder if the “DemoRat leadership” knows how much trouble their Marxist antics have put America in, and how much trouble THEY are in politically as well??
It would be. Holding gold or other PMs is the equivalent of shorting the IMF. Buy whatever they are selling (gold), sell whatever they are buying (dollars, euro, etc).
I don’t know how else other than shorting its investors themselves and maybe avoiding those taxes on the vehicles you produce which help it.
wow this is beyonid F’d up.
Ah, when you put it that way, that makes sense.
After giving the IMF billions, I’m sure - absolutely sure - that 0 will, if he hasn’t already, be giving another several billion to the UN, whom we should be kicking out of Manhattan and disengaging from entirely (imo).
400 tons * 2000 lbs * 16 ounces * $935/ounce == $11.968 billion
What we do know is that folks who did everything right were the losers.
Nothing has changed for the "bums" of the world and welfare is still doling it out.
Excerpt from recent article explains the move:
“According to Strauss-Kahn, Communist China and other nations have expressed the desire to purchase IMF bonds. This is a major move in the direction proposed by China and Russia (and American and European globalists) to replace the dollar with a new global currency, with the IMF’s Special Drawing Rights, or SDRs, being the apparent candidate for that role. The London G20 started that ball rolling.
“A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order,” noted Ambrose Evans-Pritchard in Britain’s Telegraph. “In effect, the G20 leaders have activated the IMF’s power to create money and begin global ‘quantitative easing.’ In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body.”
President Obama’s non-stop spending, which will hasten the implosion of the dollar, and his funding proposal for the IMF’s new powers are undoubtedly aimed at consolidating this profound revolution.”
Link: http://www.thenewamerican.com/economy/commentary-mainmenu-43/1154
bookmark for later.. hopefully this will bring the price down a bit.. but im betting china will get it all
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