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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: prosperous who wrote (57383)	11/3/2009 12:29:06 AM
From: Amark$p	Respond to of 217852

200 metric tonnes = 6,430,150 ounces. As previously reported, this IMF gold came originally from Mexico and Brazil: "Between December 1999 and April 2000, separate but closely linked transactions involving a total of 12.9 million ounces of gold were carried out between the IMF and two members (Brazil and Mexico) that had financial obligations falling due to the IMF. In the first step, the IMF sold gold to the member at the prevailing market price and the profits were placed in a special account invested for the benefit of the HIPC Initiative. In the second step, the IMF immediately accepted back, at the same market price, the same amount of gold from the member in settlement of that member's financial obligations. In the end, these transactions left the balance of the IMF's holdings of physical gold unchanged... The total IMF gold sale "amounts to 12,965,649 fine troy ounces or 403.3 metric tons, which represents one-eighth of the Fund's total holdings."