Federal Reserve Watch

[NYBob]

The 666bolshevikz evilz will destroy US and all white mans gold -
it what happened to great Russia before the ussr -
killed more than 100 million Christians -
G20 was all about to destroy white mans gold power -

history often repeat itself -

IMF to Sell Gold to Keep Finance Sustainable
2009-04-24 23:07:12 Xinhua Web Editor: Bao Congying
The membership of the International Monetary Fund (IMF) is discussing strictly limited gold sales of 12.97 million ounces (403. 3 metric tons), one-eighth of the total holdings

http://english.cri.cn/6826/2009/04/24/2041s478509.htm

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The membership of the International Monetary Fund (IMF) is discussing strictly limited gold sales of 12.97 million ounces (403. 3 metric tons), one-eighth of the total holdings, as part of a package of expenditure and income measures to put the organization's Finances on a sustainable basis but no decisions have been taken by the Excutive Board.

The IMF currently holds 103.4 million ounces (3,217 metric tons) of gold, making it the third largest official holder of the gold. The gold is valued on its balance sheet at 5.9 billion SDR (special drawing rights) (about 9.2 billion U.S. dollars) on the basis of historical cost, the market value of which was 95.2 billion U.S. dollars as of Feb. 20, 2008.

The IMF is considering gold sales because its finances have become unsustainable following a large decline in credit outstanding in recent years.

In absence of measures an income shortfall of 165 million U.S. dollars in fiscal year 2007 is expected to widen to about 400 million U.S. dollars by fiscal year 2010.

Under the IMF's Articles of Agreement, a decision to sell gold requires an 85 percent majority of the total voting power.