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IMF plans gold sale to raise $6bn

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posted on Apr, 8 2008 @ 05:06 PM
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A couple of questions from a novice:

It is my understanding that when you buy gold, you don't get the metal, but instead a certificate of some kind. Is this true?

I thought the IMF was an international organization. Why, then, does this sale require the approval of the US Congress?




posted on Apr, 8 2008 @ 07:34 PM
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reply to post by jsobecky
 


Because the Gold doesn't belong to the IMF, it belongs to the member states and they have to agree to a sale. Here is a great article on how the IMF has been used to manipulate gold since Nixon destroyed the gold ties that kept world currencies stable.
www.financialsense.com...



posted on Apr, 8 2008 @ 07:49 PM
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Six bil is chump change to the IMF. They must be doing this for other reasons.



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