Gold reserves to hit sale block

The International Monetary Fund says it plans to sell gold from its reserves, and the announcement at the Group of Seven (G7) meeting in Tokyo confirmed those moves could come as early as April. The maneuver widely is understood to be aimed at an IMF goal of depressing the price of gold worldwide. The IMF goal appears to be to shove the price of gold back down into the $500 per ounce range, Bolser told WND in an exclusive telephone interview. Bolser said a secondary goal is for the IMF to gain control of as much of the world's gold reserves as possible. "This grab of IMF sovereign gold held in central banks around the world matches what the Federal Reserve did in 1934 when the Treasury grabbed U.S. citizen's wealth after a long and debilitating depression created by the Fed through excessive lending," Bolser said. "I don't expect an instantaneous market reaction to the IMF’s announcement this weekend," Bolser cautioned. "The IMF will make it appear as if the news didn't have any effect." "But don't make any mistake about it," he continued. "The price of gold is now under assault from the IMF gold sale announcement and this weekend's disclosure was just the first wave." "The IMF wants push the price of gold to $500 or below," he said, "and right now is not the time to be long holding gold." In his subscription newsletter for Monday, Bolser reported that Goldman Sachs is stating internally that gold will stay where it is for the next 90 days, then fall dramatically in price, an analysis which support's Bolser’s analysis of the IMF announcement to sell gold.

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http://worldnetdaily.com/index.php?fa=PAGE.view&pageId=56180

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Thanks Laura :)