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IMF GOld Reserves adjusted for Reality

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posted on Apr, 20 2009 @ 12:41 PM
So I took the IMF gold reserves amount LISTED on wikipedia (sorry about that one) for I think it was 2007 amounts. These reserves rank the IMF as the world's 3rd highest holder of gold behind the US and Germany. I know some of us aligned with the frustrations of GATA are skeptical of the declared reserves in the US as there isn't much sunlight in the vaults of Fort Knox. And Germany's reserves being related to stolen/looted gold from WW2 are questionable but the IMF (an International Organization and Not a country) sure does have huge reserves.
Anyways, the way I read IMF reserves is that they price at 1971 prices! Ha! This is a bit off from current gold valuations and here's my math when adjusting for modern reality-

3,217 tonnes of gold held by the International Monetary Fund. It is currently priced at $42 a troy ounce ($1,370/kg)—this was the fixed price just prior to Nixon’s unhinge in 71.
1 tonne = 1 t= 1,000 kg= 2204.6226 pounds
1kg=2.2 lb= 32.1507466 ounces
3,217 tonnes = 3,217,000kg
@ fixed rate of 1370=$4,407,290,000

@current rate of (let's approximate @) $900/ounce=28,935.67/kg
@28,900/kg, 3,217,000kg=$93,086,053,607
(Hopefully this math isn't way off- let me know)

So we have the worth of $4 trillion or $93 trillion. Hmmm. As I said, a bit of a difference- wouldn't you agree? Now if they were to sell off this in one single market dumping the market price would be slashed- how much I wouldn't have the slightest but it would be a massive devaluation. They obviously would never do this but have been known (in the past) to unload or purchase large portions which can a direct impact on market price.
Making this adjust raises a variety of questions for me -like why do they price their reserves at pre-fiat, gold standard prices? How much does this influence the modern market price? How much are they able to manipulate the market price with buying and selling? And how much scrutiny would you place on a relatively heartless International Org that has these manipulating capabilities?

posted on Apr, 27 2009 @ 10:16 PM
reply to post by Moonsouljah

Hi Moonsouljah. The IMF's reported 3,217 tonne "Gold holdings" translates to 103.4 million ounces. @ $900 oz cash price = approx $100 billion US$. I placed Gold holdings in para since it should be remembered that technically , the IMF doesn't "own" any Gold , it's reported "holdings" are actually pledges made by member nations/treasuries. This Gold in fact...belongs to the people of those member nations , i.e. the citizenry.

Informative Op-Ed on this topic - scheduled for tomorrow's WSJ. I also recommend viewing any John Perkins video available on the web for further insight into shady machinations of the IMF.


WSJ Opinion Journal
APRIL 28, 2009

The IMF's Gold Gambit
The fund's misuse of bullion reserves is crucial to its plan to use the financial crisis to expand its power.

Lost in the lofty talk about putting the IMF in the center of world economic recovery is the fact that the organization has been quietly attempting to ensure its own survival by seeking permission to engage in gold sales. While IMF officials insinuate the receipts would be used to help poor countries, the real goal is to set up a permanent endowment fund for the IMF....

....The most solid asset owned by the IMF, purely as a legacy of its original incarnation, is gold. The IMF holds 3,217 metric tons (103.4 million ounces) of gold, which makes it the world's third largest official holder. Actually, it's a misnomer to say the IMF "owns" the gold since the bullion belongs, according to the IMF articles of agreement adopted at Bretton Woods in 1944, to its member nations.

Full Text

posted on Apr, 29 2009 @ 01:20 PM
Woops- looks like I got my billions and millions mixed up!

So yes, it works out to be about $100 billion- that's quite a bit less than trillion!

I really like Perkin's stuff and have in the past liked to use him as a reference for school papers but his claims aren't really verifiable although they're totally inline with standard IMF criticisms.

That article is pretty sweet. It provides a pretty concise rundown of the whole G20 consensus of increasing SDR importance. It also makes sense of why the IMF and the WB have been so doom and gloom with their forecasting lately (really most of last year). I was confused about this- esp. last year when the national level dialogue was a "denial/ we'll see a turn around soon" attitude and yet the IMF was pessimistic.
If you know the IMF, you know the management heavily navigates the outcome of research/findings to legitimize its plunder of LDCs but I was thinking their recent attitude on the global economy reflected accurate and honest expertise.
Alas, it makes soooo much sense for them to be doom and gloom for the implementation of a greater role for SDRs. These global orgs always advocate a greater role for themselves- always. Why wouldn't they?
I also think it's important to make to include the BIS in all of this SDR stuff as they pick it up in 03 as their main currency.

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