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To: tyc:> who wrote (175066)	9/19/2009 12:19:12 AM
From: loantech	Respond to of 314131

Maybe they do own gold though? <The amount of gold to be sold is one-eighth of the 3,217 tonnes of gold currently held by the Washington-based IMF, the third-largest official holder of gold after the United States and Germany.> From the prior link.

To: tyc:> who wrote (175066)	9/19/2009 1:31:59 AM
From: Cogito Ergo Sum	Respond to of 314131

Depends... The IMF holds 103.4 million ounces (3,217 metric tons) of gold at designated depositories. The IMF’s total gold holdings are valued on its balance sheet at SDR 5.9 billion (about $9.2 billion) on the basis of historical cost. As of August 28, 2009, the IMF's holdings amounted to $98.8 billion at current market prices. A portion of these holdings was acquired after the Second Amendment of the IMF’s Articles of Agreement in April 1978. This portion, amounting to 12.97 million ounces (403.3 metric tons) with a market value of $12.4 billion as of August 28, 2009, is not subject to restitution to IMF member countries (see below), unlike gold the IMF acquired before 1978. Restitution. The Articles also provide for the restitution of the gold the Fund held on the date of the Second Amendment (April 1978) to those countries that were members of the Fund as of August 31, 1975. Restitution would involve the sale of gold to this group of member countries at the former official price of SDR 35 per ounce, with such sales made to those members who agree to buy it in proportion to their quotas on the date of the Second Amendment. A decision to restitute gold requires support from an 85 percent majority of the total voting power. The Articles do not provide for the restitution of gold the Fund has acquired after the date of the Second Amendment. imf.org