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This was a planned sale from IMF - no "sneaking" or gold fever I can see. Plus it will help feed the poor (longer term) via more favorable loans:
The Group of 20 key developed and developing countries, at their April summit in London, agreed the gold sales should allow the IMF to offer favourable conditions on loans to the poorest countries.
(Source: IMF sells 200 tonnes of gold to India worth $6.7 billion - International Business - Biz - The Times of India (http://timesofindia.indiatimes.com/biz/international-business/IMF-sells-200-tonnes-of-gold-to-India-worth-67-billion/articleshow/5191262.cms - broken link))
Meanwhile the price for gold keeps screaming higher. Hit a new high in the last 12 hours of $1080/oz Better get those gold coins while they are still reasonably priced. Obama continues to get advice from the GS crowd which means we are selling out the dollar to the bankers.
Children starving in the streets and the top end is out buying gold, Gold, GOLD!
That is some priorities speaking for themselves.
First of all why don't you worry about the 20 million homeless in you own country, before you talk about someone else..
Gold is money and is used as money in India, so get your facts straight. They have enough common sense to know that gold is money and has an instinsic value. Paper money has absolutely no value and is just paper the FED prints up. Talk about wrong priorities.
Not to mention the fact that they're smart enough to get out of worthless US bills now, before this whole ponzi scheme collapses on everyone's head. Our government is the one that devalued our money with trillions in a meaningless stimulus package bill, now we reap the consequences of our own fiscal irresponsibility.
Meanwhile the price for gold keeps screaming higher. Hit a new high in the last 12 hours of $1080/oz Better get those gold coins while they are still reasonably priced. Obama continues to get advice from the GS crowd which means we are selling out the dollar to the bankers.
It's the FEDs, they inflate the dollar to balance their sheets, or spend more on expanding their genocidal wars for profit, or maybe just bailout they failed corporate masters. We suffer for it.
The dollar was always going to collapse because of the Federal Reserve, a private elite bank that gets to print money 'til it's heart's content.
It's time to head for the reset button. This time we use sound money, no more fiat crap.
In a surprise move, India...not China got the first half of IMF gold for sale. China probably will get the 2nd half. Gold fever is taking over.
I don't get why it's termed as a sneak attack. Do countries need permission to buy gold? They do whatever is in the best interest of their people like any other country would. The dollar has been inflated to oblivion in these last few years. It only makes sense for them to get out of increasingly worthless USD. China and Russia have already dropped the dollar in their oil trade.
Max Keiser already predicted this a while back.
Can you link this or quote it, I don't have enough post to embed.
That Max Keiser guy is talking utter rubbish! Chinese taking down the US economy? That is like shooting themselves in the head Why in the world would they kill the hand that feeds them? China already has a soaring unemployment rate, what will happen when the US consumer can't buy all their junk? There is not enough worldwide demand to keep those Chinese factories rolling!
certainly india buying that quantity of gold is a huge shot across the bow on the dollar. our leaders better get a grip on the economy before they take us over the cliff.
this continued dollar devaluation / stealing of wealth is not good for america or americans!
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