Website review: BBC NEWS | Business | IMF plans gol...
Stellare discovered this in Business
•2 reviews since Apr 7, 2008
business, imf, gold
•news.bbc.co.uk/2/hi/business/7335749.stm
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Reviews of this website
- w3bsmith rated 3 months ago
- This is how they keep the price of gold down, or try to. They put out press releases, watch the stock market climb, and then don't sell. Why does that work? 12 million ounces released into the market would heavily dilute it. The fear of a diluted supply versus the demand scares enough holders of "paper" gold that they convert that paper to other stocks. Easy economic control by a private corporation with no business handling our gold; or our economy for that matter. From the page: "It hopes to raise at least $6bn (£3bn) from the sale of 12.97 million ounces of gold, about 12% of the total held. As the IMF's role as a lender to troubled economies shrinks, so it needs to find other ways to access funds. "
sillydog2112 rated 3 months ago- To sum up for the rest of us, the old skool gang was runnin' a nice business, extracting protection money and reselling stolen booze -- the usual gangsta stuff. Then the marks wised up and started hiring their own goons. In an effort to retain a little control of the situation, the ol' boys said, "you want in, fine, bring your own toys to the party, we're pullin' out." What, I wonder, happens to the price of gold when that much is floated on the commodity market? Do they really think this will decrease the volatility in the market that has ensued after $1k gold in March? I'll predict here that it will actually incrase volatility and that some fat cats are poised to reinvest that into more "domestic" markets in anticipation of a presumed period of fiscal and political isolationism after November. Then again, I got my degrees in repairing guitar amps and fruit trees; what the hell do I know?
