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IMF stresses need to increase reserves due to rising credit risk | www.commodityonline.com | 3
The International Monetary Fund (IMF) is planning to increase its precautionary reserves on account of rising global risks, the organization's latest report says.
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RP McMurphy ●
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hexydes said...
Psh, why invest in gold? You can't even eat it!
By the way, QE rumors are already spinning back up. If that ends up being the case (and judging by the condition of the stock market recently, I could easily see it happening), this will have been a HUGE dip for gold and silver, as soon as they begin to correct themselves for the further QE.
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Compound 2 said...
I just wish Cym Jim would explain to us why the IMF is taking all those valuable federal reserve fiat paper notes and wasting it on a chunk of metal. Hell, for 2.3 billion federal reserve paper notes they could loan that money to some poor African country with no chance of ever paying it back and then take all their minerals when they fail to pay the interest payments. WTF are they doing wasting it on gold?
We've got depth. We've got numbers.
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spartanMF ●
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hexydes said...
Psh, why invest in gold? You can't even eat it!
By the way, QE rumors are already spinning back up. If that ends up being the case (and judging by the condition of the stock market recently, I could easily see it happening), this will have been a HUGE dip for gold and silver, as soon as they begin to correct themselves for the further QE.
Narwhal
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Narwhal said...
The IMF story is neither positive nor negative towards gold. More interesting is the QE3 talk and the fleeing Euro. I don't chart but this drop in gold has reached key support levels after falling into bear market territory (-21%) This could be a nice discount at the PM window? Maybe the miners are a better play?? Maybe both?
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Compound 2 said...
True, it's not a negative or positive story, but one does wonder (if people like Trapper Gus are correct) that gold is basically a useless metal, then why the hell is the IMF spending 2.3 billion dollars on it? Certainly seems like an awful lot of money to be wasting.
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TrapperGus ●
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Narwhal
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GRR Spartan ●
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Compound 2 said...
You are the master of obfuscation. You simply will talk about anything other than somebody else's point. Why is the IMF wasting 2.3 billion dollars on a hunk of metal? Don't they want to help the starving children in Africa? Why are they wasting their money on this?
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TrapperGus ●
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hexydes said...
Because people are used to fiat currency, and most aren't even aware of alternative investments, or if they are, all they hear is is the rhetoric from cable "news" about how gold is a bubble, etc.
If the only thing you will buy is fiat currency, then you simply keep shuffling back and forth to whichever one looks slightly less bad than the other. Right now, the Euro is very unstable, which means...where do people go?
We've got depth. We've got numbers.
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TrapperGus ●
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JoeSpartyFan
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hexydes said...
Because people are used to fiat currency, and most aren't even aware of alternative investments, or if they are, all they hear is is the rhetoric from cable "news" about how gold is a bubble, etc.
If the only thing you will buy is fiat currency, then you simply keep shuffling back and forth to whichever one looks slightly less bad than the other. Right now, the Euro is very unstable, which means...where do people go?
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TrapperGus ●
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TrapperGus ●
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IMF to buy 2.3 billion in gold