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Old 05-14-2012, 11:26 AM   #1
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IMF to buy 2+ Billion in Gold.

From Bloomberg via Zerohedge:
http://www.zerohedge.com/news/meet-l...d-gold-bug-imf

Seems the relic is getting less barbarous.


GOD BLESS OUR TROOPS!!!
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Last edited by BigJim; 05-14-2012 at 11:32 AM. Reason: Spelling...
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Old 05-14-2012, 11:55 AM   #2
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Somehow, I doubt the IMF is buying physical, allocated gold. More paper claims to (re-)hypothecated gold would be my guess.
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Old 05-14-2012, 12:04 PM   #3
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Originally Posted by PMBug View Post:
Somehow, I doubt the IMF is buying physical, allocated gold. More paper claims to (re-)hypothecated gold would be my guess.
...either way - it is telling... both about the supposed "TRADITION", and also their stupidity - if they are only buying paper... I'd like to see them trying to convince Chinese to accept some of that nice papers in exchange for their exports, in the near-mid term future!

....but, but, but - the gold is DOWN, yet again

I couldn't be a trader, I am not idiot enough to latch on the mass-stupidity of the market! It is either that, or as swissaustrian pointed out - the liquidity is drying up in the markets, so it is "sell everything we can, for whatever price" (this including PMs) - that would mean the repeat of 2008 is near.
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Old 05-14-2012, 01:13 PM   #4
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Do as I say not as I do. You know, like Warren Buffett?
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Old 05-14-2012, 07:11 PM   #5
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Originally Posted by PMBug View Post:
Somehow, I doubt the IMF is buying physical, allocated gold. More paper claims to (re-)hypothecated gold would be my guess.
But I wanted to sing a round of Tradition.

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Old 05-15-2012, 03:43 AM   #6
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i want to buy a round ....
its tradition
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Old 05-15-2012, 06:31 AM   #7
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The University of Texas bought $1 billion in gold not long ago, and UT is not even a bank.
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Old 05-15-2012, 07:43 AM   #8
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http://www.perthmintbullion.com/au/b..._gold_not.aspx

apparently this was some bad journalism. Unfortunatley don't think they bought any gold. seemed like some type of translation problem w some Indian article or something.
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Old 05-15-2012, 08:14 AM   #9
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Well, the story didn't make any sense to me on first read, so I can't say I'm terribly surprised.
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Old 05-15-2012, 11:13 AM   #10
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Originally Posted by escobar View Post:
http://www.perthmintbullion.com/au/b..._gold_not.aspx

apparently this was some bad journalism. Unfortunatley don't think they bought any gold. seemed like some type of translation problem w some Indian article or something.
Sorry about the misinfo....


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Old 05-15-2012, 06:12 PM   #11
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Imagine that! A bogus, completely unresearched and uncorraborated story about a non-event by the largest NGO in the world. Who would have 'thunk it?
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Old 05-15-2012, 10:03 PM   #12
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So that means when the correction article comes out tomorrow, Gold is due for a drop like a rock, yes?



This is of course sarcasm. As if supply and demand had anything to do with the PM markets these days-Lol.
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