Buying Gold for Investing: The truth about the IMF gold sale

Posted February 13, 2008

"The media does not understand the situation, as usual. The reports I’ve seen tend to point out that the IMF holds some 103 million tons of gold, but leaves out the details of the plan discussed so far." — Ed Bugos

by Ed Bugos, Whiskey and Gunpowder

Baltimore – (TFN ): The G-7 approved the IMF’s gold sales plan this weekend in Tokyo.

Quoting a Morgan Stanley analyst endorsing the plan, “This is arguably a good time to consider selling some of these gold holdings and investing the proceeds in financial securities with positive yields.”

According to the same article, the head of the IMF said, “There was an acceptance among the G-7 that resources should be raised by selling gold.”

IMF Gold Sale: Don't panic

The media does not understand the situation, as usual.

The reports I’ve seen tend to point out that the IMF holds some 103 million tons of gold, but leaves out the details of the plan discussed so far. Thus, readers are likely to think that it plans to sell all of it. Read on to learn the truth about the IMF's gold sale.

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