IMF to buy 2+ Billion in Gold.

[BigJim]

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

Seems the relic is getting less barbarous.


GOD BLESS OUR TROOPS!!!

 

[pmbug]

Somehow, I doubt the IMF is buying physical, allocated gold. More paper claims to (re-)hypothecated gold would be my guess.

 

[bushi]

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 :flail: :rotflmbo:

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.

 

[ancona]

Do as I say not as I do. You know, like Warren Buffett?

 

[dontdeBasemebro]

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.

:rimshot:

 

[rblong2us]

i want to buy a round ....
its tradition

 

[mike]

The University of Texas bought $1 billion in gold not long ago, and UT is not even a bank.

 

[escobar]

http://www.perthmintbullion.com/au/blog/blog/12-05-15/imf_to_buy_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.

 

[pmbug]

Well, the story didn't make any sense to me on first read, so I can't say I'm terribly surprised.

 

[BigJim]

http://www.perthmintbullion.com/au/blog/blog/12-05-15/imf_to_buy_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....:flushed:


GOD BLESS OUR TROOPS!!!

 

[ancona]

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?

 

[the sugar monster]

So that means when the correction article comes out tomorrow, Gold is due for a drop like a rock, yes?

opcorn:

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