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."
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It's just an expression
ReplyDeleteChina 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.
ReplyDeletecan anyone tell me why IMF is selling it;s gold ?
ReplyDeleteI would love it if this happens Mr. Rogers!!!!
ReplyDeleteDON'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
johnnydajogger has it right.
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