And yet another attempt to suppress gold.....

So the IMF has announced they plan to sell thier gold. For some reason I see this as more of a ploy to try and knock gold down rather than a serious attempt at selling the gold, simply for the reason that if any large holder of a security announces publicly that the holding is for sale, wouldn't that bring a lower price? Does Warren Buffet announce what he is buying before he buys it insuring he pays a higher price? Does he announce what he is selling before he does it to make sure he will get a lower price? This is nuts and clear just another attempt by the CB's of the world to knock gold lower. Jimmy S. has a great response to this maneuver.

Before any of this can happen, the United States Congress must give it's blessing, and that means it first must be presented to them. For whatever the reason, Congress has been very reluctant to sell any gold whatsoever.

Now what happens on Monday? Who knows, but should be interesting. But I think this is clear that the CB's of the world are getting desparate

Jimmy S.: http://www.jsmineset.com/home.asp?RQ=EDL,1&ARFG=1&GID=0&linkid=6

IMF article: http://in.reuters.com/article/businessNews/idINIndia-31847320080209?sp=true

In the IMF article, notice the comment by the Morgan Stanley analyst who says that when the IMF sells the gold they can invest in financial vehicles that give them a cash flow. Man, is gold hated by those that don't understand it at all. Does a six year old bull market mean nothing?