Hi chinton, (IDEA for IMF)
Back from visit to my Marine kids, who are doing great and express their thanks for all the regards of all who posted them. As for me, at this point, I am throttled by a heavy "while you were gone" work schedule till sometime Friday.
Similar article to yours:
news.ft.com
Double whammy of goldcorp sale and threatened IMF sales have depressed gold price. The effects have been fairly severe, but nothing like they were in 98 and 99, gold is much more resilient this time around. I would expect a turnaround rebound sometime near end of month, consequently, I did a little buying yesterday and late the day before. Only a little, because time was lacking.
I have an idea for the IMF for the debt relief of the "poor" countries.
Instead of selling the gold to the IMF/WB chronys at much reduced prices, why don't they sell it directly to the public using the mints of the various non poor countries to make special gold coins or medals dedicated to this purpose??
We on NRS could take a chunk of it, the sale of coins could take place over years and be varied by special editions every year. A little free advertising from the liberal/non-liberal media could be enthused (tax deductible) and ALSO give the buyers a partial tax deduction for their purchases. After all, it is their OWN posterity they are buying back. They would have the support of both the liberal and conservative citizens of the world.
All citizens would love to help the poorer countries (just make sure the funds generated would be directly taken off of the poor countries principal balances!!) and I am sure the conservative citizens would also love taking some of the IMF gold from that august institutions coffers into their own.
It would work!
By the way, IMF/WB, considering our debts and deficits, doesn't the US qualify for debt relief too???
Edit, seriously, if only 10 or 11 million of the world's citizens would buy 4 ounces, on average, of these debt relief gold coins, the IMF would be relieved of 1/3 of their golden burden.
Best Regards,
Roebear |
