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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (119848)	11/3/2009 1:15:36 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

There's gold in them there hills. Looks like a pretty good way for smart foreign central banks to diversify out of potentially worthless paper and into a universally accepted medium of exchange like gold. Notice that India used USD to pay for the IMF gold. Also look at % of reserves in gold for both India and China relative to other countries. That looks like some serious buying power over the next decade or two compared to all the selling from Europe years ago. The best news of all is that an intrinsically evil institution like the IMF is accepting potentially worthless paper in exchange for gold which over the very long should limit it's ability to screw up the world. bloomberg.com seekingalpha.com