Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Saturday, May 2, 2009

The IMF Is Desperate to Sell Its Gold says Jim Rogers

Quote from Bloomberg's interview with Jim Rogers "I own some gold, but I am not buying at the moment because the IMF, which is one of the largest owner of gold in the world, is desperate to sell its gold. I’m not selling my gold. The IMF is trying to get permission from everybody.

If and when they sell their gold, they may set a bottom. Who knows? It may go down to US$700. They got a lot of gold to sell. If it does, I hope I’m brave enough and smart enough to buy more."
Labels:Jim Rogers

5 comments:

  1. AnonymousMay 3, 2009 at 2:49 AM

    It's just an expression

    ReplyDelete
  2. johnnydajoggerMay 3, 2009 at 6:35 AM

    China is encouraging the IMF to sell its gold so that it can increase its holding. China which has only 5% of its reserves in gold, will buy all the gold IMF wants to sell. Thats the big floor under gold.

    ReplyDelete
  3. ninja turtleMay 4, 2009 at 4:54 AM

    can anyone tell me why IMF is selling it;s gold ?

    ReplyDelete
  4. AnonymousSeptember 13, 2009 at 11:03 AM

    I would love it if this happens Mr. Rogers!!!!
    DON'T YOU KONW THAT IF GOLD IT 700.00 THAT IT WOULD SOAR BACK TO 1000 IN DAYS IF NOT WEEKS?

    EVERYONE WOULD KNOW IT WAS A SCAM PERPETRATED BY GEITNER IN FEAR OF THE 1000+ GOLD PRICE.


    MICHAEL GOLDSHOLL

    ReplyDelete
  5. Letitride2September 13, 2009 at 1:42 PM

    johnnydajogger has it right.

    ReplyDelete

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Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "
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