Monday, November 16, 2009

Greenspan buying Gold Bars.....Max Kaiser



Funny? Some do not seem to think so...

Ben Bernanke's dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency.

Over the last three months, banks put 63 percent of their new cash into euros and yen -- not the greenbacks -- a nearly complete reversal of the dollar's onetime dominance for reserves, according to Barclays Capital. The dollar's share of new cash in the central banks was down to 37 percent -- compared with two-thirds a decade ago. Rest HERE. As for Greenspan he is buying gold bars according to Max Kaiser.





Zero Hedge...

Tiny Mauritius Tells US To Shove Its Dollar, Buys 2 Metric Tons Of Gold From IMF At $1,115 An Ounce

The latest development in the gold bubble saga, and one which will likely cause the precious metal's price to spike even higher, comes from the tiny island of Mauritius which according to Dow Jones has purchased 2 metric tons of Gold from the IMF for $71.7 million. The price works out to approximately $1,115 per ounce. More as we get it. (and yes, this is a picture of Mauritius not some CNBC anchor hangout).

Some more from Dow Jones:


The International Monetary Fund announced Monday it has sold two tons of gold to the central bank of the Indian Ocean island of Mauritius for nearly $72 million.

The sale came as gold prices surged Monday to an all-time high of $1,136.72 per ounce.

The sale to Mauritius "was conducted on the basis of market prices prevailing on November 11, 2009 with proceeds equivalent to U.S. 71.7 million dollars," the IMF said in a statement.

It was the second such sale by the fund since September, when its executive board authorized the sale of 403.3 tons of gold from its holdings to bolster its finances amid the global economic crisis.

On Nov. 2 it sold 200 tons of gold to the central bank of India for $6.7 billion.

The IMF said it would sell gold directly to central banks and other official holders for an initial period before selling the remaining amount on the open markets "in a phased manner over time."

The Washington-based IMF, which currently holds just over 3,000 tons of gold, is the third-largest official holder of the precious metal after the U.S. and Germany


http://www.zerohedge.com/article/tiny-mauritius-tells-us-shove-its-dollar-buys-2-metric-tons-gold-imf-1115-ounce

http://www.time.com/time/magazine/article/0,9171,840572-1,00.html

http://www.reuters.com/article/wtUSInvestingNews/idAFSP11382920091116

http://www.theglobeandmail.com/news/opinions/columnists/derek-decloet/as-dollar-tumbles-america-is-up-for-grabs/article1363074/

http://www.nypost.com/p/news/business/

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1 comment:

rupinder said...

Business and investment these are the main point to start anything. But the most important is RISK.....! because in every business their is risk... Gold business is also like that you have to be prepare to start this business...............?




Sell gold for cash