stocks d'or FMI/ réserves d'or réelles ou fictives?

FMI / réserves d'or : stocks d'or réels ou fictifs?

dans cette file seront abordées et au fil de la chronologie des événements,

- les intentions du FMI à vendre une partie de ses stocks d'or

-un questionnement sur la réalité tangible des réserves d'or officielles du FMI

-puis et après le vote du congrès US, autorisant le programme de vente d'or du FMI, pour 400 tonnes d'or,

suivi du déroulement de ces ventes d'or FMI, à la fois directement ( c'est à dire hors marché ) aux banques centrales, et également en vendant sur le marché



*****************



vente d'une partie des stocks d'or du FMI, approuvée par le G7


je vois plusieurs choses ..


-1 le timing de cette annonce de vente d'or du FMI .... est suspect .... juste au moment où le cartel n'arrive plus à controler le cours de l'or ..

-2 si le fmi voulait vendre son or au meilleur prix, il ne ferait pas ce genre d'annonce .. 4 mois à l'avance ...( puisqu'on parle d'une décision qui SERAIT finalisée en avril )
ou alors il en a rien à foot de vendre son or moins cher??

-3 enfin et jusqu'à présent, les usa qui ont un vote majoritaire, avaient toujours mis leur véto ..
l'article se garde bien d'évoquer ce point précis ..


bref, on verra bien, mais ça ressemble, pour le moment à l'intoxication habituelle ..


4- enfin et dernier point , chaque fois que FMI a vendu de l'or ... depuis 1999 .. ça n'a pas empeché les cours de monter ..

http://uk.reuters.com/article/marketsNewsUS/idUKL0969041520080209?pageNumber=1

G7 approves IMF gold sales - Italy econ minister


TOKYO (Reuters) - The Group of Seven rich nations on Saturday approved the sale of gold by the International Monetary Fund from April as part of a broad reform of its budget, Italian Economy Minister Tommaso Padoa-Schioppa said.

"There was an acceptance among the G7 that resources should be raised by selling gold," Padoa-Schioppa, who is also the head of the IMF's steering committee (IMFC), told reporters after a meeting of G7 finance ministers in Tokyo.

He said the agreement would be finalised in April and would complement spending cuts being drawn up by the IMF under its new managing director, Dominique Strauss-Kahn.

"The current gold price means a flow of income can be ensured," Padoa-Schioppa said.

Morgan Stanley analyst Stephen Jen said the Fund held 103.4 million ounces of gold worth some $92 billion at current market prices. That was up from $23 billion just five years ago.

"The IMF is rich, if it wants to be," he wrote in a recent note to clients, issued before the G7's approval of the gold sales. "This is arguably a good time to consider selling some of these gold holdings and investing the proceeds in financial securities with positive yields."

A surge in oil prices has boosted gold's appeal as a hedge against inflation.

The precious metal gained more than 30 percent in 2007 as safe-haven buying increased due to the credit market turmoil and worries about the health of the dollar as it fell to record lows against the euro.
Gold continued its upward march this year. Cash gold hit a record high of $936.50 an ounce on Feb. 1, up about 12 percent since the start of the year, and was quoted at $918.00/918.70 an ounce in late New York on Friday.

Padoa-Schioppa noted that in the case of the United States, approval for gold sales would be required by Congress, meaning "the administration must present a proposal and support it".

Padoa-Schioppa said he would step down as president of the IMFC because of the recent fall of the Italian government which meant he would soon lose his job as economy minister.

Asked if he would continue as IMFC head, he said: "I don't believe so, it has to be a minister in office, and soon I will no longer be a minister in office."

je vous rappelle tout de même que
et toujours sur le timing de cette soit disant annonce de vente d'or du FMI...

-anglogold et un autre producteur d'or sont en train de couvrir leur positions de vente à découvert d'or ... anglogold particuliérement en hate .... vu qu'il va souffrir des problèmes d'énergie en afrique du sud .. ..
c'est c.on hein d'avoir vendu à terme, une production d'or qu'on ne pourra pas livrer ...

http://www.hardinvestor.net/les-hard-investors-f7/dehedging-apres-anglogold-qui-a-annonce-recemment-t8021.htm

- et on a cette annonce de vente d'or du FMI dans ce timing la???

heu ..... coincidence, bien entendu ;-)))

bref, ça CONFIRME que le cartel de l'or
est dans une sacrée m.erde ...


bref, voila une nouvelle extremement BULL pour le cours de l'or ;-)

Citation :

"This is arguably a good time to consider selling some of these gold holdings and investing the proceeds in financial securities with positive yields."

Ah, parce qu'acheter des obligations à la veille de leur destruction c'est du positive yield?



Ceci dit, le graphique du cours de l'or n'est pas exempt de petits soucis... j'ai chiadé ça sur le Bulletin qui sortira demain...

avis de sinclair

http://www.gata.org/node/5988

Jim Sinclair: Any IMF sales will be great for gold
Submitted by cpowell on Sun, 2008-02-10 05:32. Section: Daily Dispatches
By Jim Sinclair
www.JSMineset.com
Saturday, February 9, 2008

China has a trillion dollars in reserves and wishes to offload dollars, and this is a perfect fit. The year of the rat is a year of opportunity for some.

Any sales of gold have nothing to do with the market for gold, as not one ounce will ever see the free market.

The buyers will be gold-poor central banks.

The history of IMF sales in the 1970s is that they allowed huge buyers to enter the market at one price. That attracts the major buyers.

The OTC derivative market is $516 trillion, dwarfing the $92 billion estimated value of the IMF's gold. In today's messed-up financial world $92 billion is chump change.

One large banking entity could easily lose $92 billion on failed derivatives. ...

I do not think the reports of an IMF gold sale mean anything to the gold price trend. The only important fact is that the IMF has just demonstrated its total lack of financial sense, as in exchange for its gold it might end up holding only depreciating paper promises to pay nothing at all backed by nothing whatsoever.

Selling of gold like this occurs only in bull markets and has historically been useless to stop the price increase. In fact in the 1970s these sales pushed gold higher by facilitating demand from huge interests, and will do so even more so now.

Large traders could try to make this look serious but it is not.

This has Chung Phat and Dr. No high-fiving, as it indicates that the price of gold is not even halfway to its upside resting point. This was true in the '70s.

Finally, those who control black gold also control gold gold. Those you feel have caused the problem and are anti-gold are not. To know this you need only the eyes to see and the ability to connect the dots.

This will be looked back on as great for the price of gold, as was the case in the '70s when the same entity, the IMF, proposed and did the same thing, only to stop before the buyers took all their gold. The same will happen if the IMF even starts.

Note that the proposed sales would come when the U.S. economic rescue plan is to occur. The reason is clear

- l'analyse de C.Powell hyper synthétique, ici

-pas mal de choses à ce sujet sur midas de ce soir qui bien évidemment
note, le timing suspect ( et la néme réedition ) de ce type d'annonce

- les usa ont un droit de veto sur ce sujet .. et jusqu'à présent ils s'y sont toujours opposés

- si ça se fait ... c'est vraiment signe que le cartel a besoin d'augmenter ses réserves d'or physique ( un peu comme les réserves obligatoires d'une banque .. )

- enfin et bien évidemment si ça se faisait ( et certainement pas pour la totalité ) les ventes d'or du FMI se feraient hors marché .. comme ça a toujours été le cas ... avec devinez qui qui à l'achat??
le cartel de l'or, trop heureux de trouver de quoi couvrir ses positions de vente à découvert sur l'or .... mais entre les 3217 Tonnes d'or métriques que prétant posséder le FMI et les 10.000 Tonnes d'or qui restent à couvrir ... sont pas au bout de leurs soucis ..


traduction google , ici ... allez sur le dernier post de la file


source www.metropolecafe.com

For YEARS (at least 6 times) the IMF has threatened to sell some of its gold, usually 400 tonnes, when the price of gold has surged. They go through the same drill and then the issue is dropped. This time the G-7 has given the IMF the go ahead to sell ALL of its gold. However, the US Congress must approve the sale of any IMF gold, so who knows. There are numerous points to be discussed here and your fellow Café members (in addition to what Chris P sent out in his GATA dispatch) have done a fine job of doing so. Thus, I will turn it over to them….
Bill,
The agreement at the G7 to allow the IMF to sell some of its gold is a confirmation of what I have been pounding the table about recently. The Cartel is against the ropes for supply!
My guess is that each 10 ozs of gold demand can be met with 1 physical oz of gold (and that may be conservative). This is because there are many paper instruments such as futures, pool accounts, GLD, derivatives etc. It is just like fractional reserve banking in the days of the gold standard. Many investors thinking they are investing in gold do not have title to a particular piece of bullion. Just like fractional reserve gold banking it worked fine until depositors got a whiff of a shortage of gold. Then you need 1 oz of physical gold for every 1 oz demanded. Mining supply is declining, CB stocks have been depleted to very low levels, and miners are dehedging. All this was already straining Cartel supplies…then out of the blue South Africa has a power crisis likely to reduce output by at least 20% for many years to come! As investors get a whiff of a "shortage of gold" more people will want to own the real stuff instead of paper alternatives then perhaps 10 ozs of demand may require 2 ozs of physical gold …that small change would DOUBLE the amount of physical gold supply required!! This is why declining supply is such a dramatic development. The loss of gold production may only be tens of tons or maximum 100 tons but if that triggers a shortage that can not easily be met then demand could increase by 1000 tons or more in a very short time.
The Cartel is desperate to get more gold supply to avoid a "gold bank run" equivalent being triggered…or perhaps what we might term "a GOLD RUSH 21"!
If the IMF sells its gold it will not be a "disposal". It will be "transferred" to the Cartel by arranged sale. Look who was eligible for entering the UK Gold Auctions
QUOTE
http://www.hm-treasury.gov.uk/mediastore/otherfiles/GoldReserves.PDF
Those eligible to bid included members of the London Bullion Market Association (both market makers and ordinary members), and central banks and other international monetary institutions holding gold accounts at the Bank of England.
END
Essentially only the Cartel and market insiders got to submit a bid, and from there you can be sure that only the ones from the Inner Sanctum got to have any gold.
Don’t expect the IMF to put any gold on eBay! The gold will be transferred by arranged sale to the desperate Cartel who is gagging on its short positions.
Many investors may be feeling uneasy about this potential IMF gold sale. To me it is FANTASTIC news; it has made my weekend!! This is yet another sign of a lack of available physical gold supply. This is one step closer to an uncontrollable and dramatic rise in the precious metals prices.
Cheers
Adrian
Hi Bill!
So the IMF is threatening to sell some gold again? Hmmm, I seem to remember hearing threats like that before. What a reliable indicator of gold strength it is to have the IMF floating the gold sale balloon yet again.
I think its odd that news comes out without yet having US congressional approval which must occur before any sale takes place. I also think its odd that no specific amount of gold to be sold was reported, yet they did mention the entire bullion holdings of IMF. Is the IMF going to sell every ounce of gold? I dont think so, and in previous discussions on that topic, they always suggested they would sell a chunk of it to raise cash. So why are they releasing this statement now, with so little disclosure on what they plan to do?
Is there another hedge fund that is breaking down, similar to LTCM a few years ago, and the situation is so critical that the only remedy is to break off some of the last big gold holdings to fill the void? Is this yet another obvious ploy to 'talk' gold lower at a time when it has the potential to breakout past the $1000 per ounce barrier? We do not have to look back very far, when the UK sold off their gold reserves and did so in a way that almost guaranteed that they would recoup the lowest value for the gold, and in doing so succeeded in driving the spot gold price down.
I think the crisis affecting South African gold production may be very serious indeed, if the IMF card is to be played for once and for all. The Cartel is running out of aces to play.
Think about this quote: "The IMF is rich, if it wants to be." Just when the hell was the mandate of the IMF to become rich? The IMF appears to be yet another political slush fund to be employed as a blunt weapon whenever the status quo is threatened. Let them sell their gold and reap the whirlwind after realising a short term gain for their agenda. It worked out so well for the UK... not.
cheers!


Mexico Mike

en clair les ventes d'or des banques centrales, dans le cadre du washington agreement, devraient .. au rythme actuel ne pas dépasser 200 Tonnes pour l'exercice wag en cours ( du 1er oct au 30 sept ) ... et si on rajoute les tres hypothétiques 400 Tonnes d'or du fmi ... ça nous ferait guére que 100Tonnes d'or de plus que le quota autorisé par les accords de Washington agreement ..

ce qui aurait du mal à ''compenser" le déhedging et la baisse de la production mondiale d'or

source www.metropolecafe.com , Adrian Douglas


Bill,
I don’t know if you saw this:
Weekly European gold sales fall below 2 tonnes
http://www.resourceinvestor.com/pebble.asp?relid=40411

If the current run rate continues the ECB sales are likely to barely reach 200 tonnes for the WAG year. Even if the IMF sale of 400 tonnes gets the go ahead this will not represent any major increase and will not offset falling mine output and increased de-hedging.
Cheers
Adrian

la manipulation du jour ... la veille de l'expiration des options or et argent .. quel timing !
les déclarations du sous secrétaire d'état au trésor Mac Cormick.( le"porte parole" de la désinformation manipulatoire de Paulson ) . qui fait semblant de confondre le trésor et le congrés !
c'est bien le congrés et non pas le trésor US qui doit approuver la vente d'or par le FMI.. ne lui en déplaise ..
congrés à majorité démocrate
vous admirerez également , le changement de ton de la 2eme déclaration, après la fermeture du comex
quelle bande de guignols !

source www.lemetropolecafe.com



Gold was meandering around $2.50 higher on the day when General Paulson’s pitiful Gold Cartel crew launched a criminal-like assault on gold by announcing the following:
U.S. TREASURY'S MCCORMICK SAYS CONFIDENT CONGRESS WILL SUPPORT SALE OF SOME IMF GOLD
MCCORMICK SAY GOLD SAYS MOST VIABLE WAY TO RAISE MONEY FOR IMF'S INCOME NEEDS
US Treasury to support IMF gold sales if linked to cost-cutting, reforms

Mon, Feb 25 2008, 15:04 GMT
http://www.afxnews.com WASHINGTON (Thomson Financial) - The US Treasury, in a significant policy shift, has decided it will support gold sales from the International Monetary Fund's reserves if they are part of a package of cost-cutting and other reforms of the way the international financial organization operates.
Under Secretary for International Affairs David McCormick will lay out the details in a Washington speech later today. In a pre-address briefing for reporters, he said the Bush administration -- which had until now opposed selling IMF gold reserves -- would support a sale of the scale of roughly 8 pct of the IMF reserves or 12.9 mln ounces as part of a package of reforms which also included significant cost-cutting in IMF operations.
The proceeds would be used to create an endowment from which the income would be used to finance the IMF operations.
McCormick said also that the IMF needs to refocus its mission toward international exchange rate surveillance and global financial stability and away from its traditional lending to emerging market countries.
Those economies are now increasingly able to borrow in the private international financial markets, and the loss of their interest payment revenue is a key source of the IMF's current financial problems.
-END-
Geez, what a surprise … the Treasury announces a change of their official stance on IMF gold sales the day before a pivotal gold/silver option expiry. The retreating desperados pulled another rabbit out of the hat.
To support how calculated and desperate this Treasury announcement was, the DEALERS were the major BUYERS of the April gold contract when it traded sharply lower … down $7 to $12. The funds, sighted as the major buyers last week, were the featured sellers. Thus, the trapped vulnerable dealer/Gold Cartel shorts were handed a gift to lighten up on their vulnerability to the rising price of gold. Love those free markets we have in the US.
As the day wore on, gold staged a comeback after these headlines surfaced and The Gold Cartel had the time to cover some shorts earlier in the trading session:
US'S TREASURY'S MCCORMICK-NO TIMELINE FOR WHEN CONGRESS WILL BE ASKED TO APPROVE IMF GOLD SALES

MCCORMICK-HOPE TO BUILD SUPPORT IN CONGRESS FOR IMF GOLD SALES WHILE BUSH STILL IN OFFICE
McCormick and the gang knew exactly what they were doing … laying out the order of what was to hit the tape and when. Criminal is too kind of a description for this bum … and just who is McCormick? One of Paulson’s cronies, of course…
Hi Bill -
Regarding the US "support" for IMF gold sales... here's the guy who made the comment, David McCormick:

http://www.ustreas.gov/organization/bios/mccormick-e.html

Basically, he started at is position in August 2007 and was hired by Paulson. Classic mis-information play by Paulson to have his support staff appear to be speaking for the USA.

Of course the US Treasury has no say in whether or not the IMF can sell gold. Only the US Congress.

It is so obvoius to see the manipulation with this grand statement right before the COMEX termination date.

Paulson's the name....Manipulation is the game!

"They" are on the run!
Bix

So the Treasury, under General Paulson, scares scores of longs out of the market as they sell in knee-jerk reaction by market participants to an incomplete statement by The Gold Cartel and sycophant, dopey gold market reporters. Instead of imminent supply hitting the physical market, it will be lucky if any gold hits the market by until later in the year. (Whether any of this potential gold supply will ever hit the open market in the end is another matter entirely.)
Now that the Comex closed for the day, this JUST IN:
IMF gold sales timing unclear- Treasury's McCormick

WASHINGTON, Feb 25 (Reuters) - U.S. Treasury Under Secretary David McCormick said on Monday it was still unclear when the U.S. Congress would be asked to approve proposed International Monetary Fund gold sales and the move would depend on implementation of the IMF's reform agenda.

"We've done a fair amount of work already in terms of doing outreach to members of Congress," McCormick told an audience in Washington, saying there was already bipartisan support for the move.

"We would hope that we will be able to build support for action while President (George W.) Bush is still in office. If that turns out not to be the case given the timing then we hope the work we're doing will lay groundwork for the next president," he added.
-END-

- pas de date précise pour les ventes d'or du FMI .. => pas de ventes !!

- mieux encore, si les ventes d'or se faisaient sur le marché .. le montant vendu devrait prendre en compte les limites du quota wag 2 soit 500 tonnes d'or / an ..

- et enfin ... le meilleur ..
ces ventes d'or du FMI, nécessitent l'approbation du congrés ( démocrate ) qui s'y est d'ailleurs opposé jusquà présent et d'une majorité de 85% des pays membres

http://www.guardian.co.uk/feedarticle?id=7344838

autre confirmation de la part du porte parole du FMI, Massod Ahmed:
les éventuelles ventes d'or du FMI se substitueraient à celles non effectuées ds le cadre du washington agreement .. ( limite 500 Tonnes d'or / an)
ce point avait été évoqué dans la file, et nous avons donc confirmation que ces ventes d'or FMI, si elles se font ont pour unique but de pallier au ralentissement des ventes d'or des banques centrales européennes, de moins en moins enclines à larguer leur réserves d'or ...
et qui ont l'intention de laisser la tache d'intervenir sur le marché de l'or, aux bloc US et associés , qui possédent par ailleurs un droit de véto sur ces ventes IMF

http://www.moneyweb.co.za/mw/view/mw/en/page55?oid=195417&sn=Detail%20listen%20link

un topo tres complet sur les relations du systéme monétaire $, l'or et l'or du FMI depuis 1974

http://www.drschoon.com/articles/IMFGoldBringItOn.pdf

LOL, avec ça, c'est pas prêt de se faire ... pas étonnant qu'ils n'aient pas donné de calendrier pour les ventes ..

le dernier § en dit long ... magnana per la magnana comme disent nos amis latinos ..

Citation :

Last month, McCormick said he hopes the gold sales proposal would be put before Congress before the Bush administration ends, but might have to be considered by a new Congress under a new administration in 2009 or even later. All told, it seems safe to bet on the latter, with an emphasis on 'even later.'

pour lire l'article cliquez sur :la réforme du FMI est un sérieux obstacle à la vente d'or

je me demandais à quel moment opportun, ils allaient nous ressotir ce truc. voila qui est fait avec un nouveau communiqué ce jour, qui n'apporte bien entendu rien de nouveau ... et pour cause, puisque tout est suspendu au vote du congrès .. et qui n'avait pour but que de relancer l'attaque de ce jour

en revanche il est interessant de se poser certaines questions, notamment sur les réserves d'or réelles du FMI .ou celles de ses partenaires Banques Centrales .. ce qui comme vous le verrez est lié en la circonstance

www.lemetropolecafe.com


Good Morning Bill (from Qatar)
The news on IMF gold that they don't want you to read
It is not often that the same piece of news is headlined on countless occasions, but once again yesterday, the IMF announced its proposed sale of 403 tonnes of gold (the very same gold that it tried to sell in 1999) and this news is again today's headlines. Bearish news for gold? Well let me write the article and see what you think!
Despite the firm "no" from the Clinton administration in 1999, the IMF today announced that it had made some progress in getting agreement to sell 403 tonnes of gold reserves, which injection of liquidity, if successful, would go some way to help the organization from avoiding the fate of Bear Stearns. The IMF also strongly stressed today that this proposed sale would not add to official central bank gold sales but would basically enable the WAG2 run rate of 500 tonnes per annum to be maintained up to Sept 26th 2009.
This information is important because several studies (Howe, Venoroso, Turk, Chevereux) have all suggested that central bank clandestine swap/loan/lease operations have depleted central bank (2005) official total gold holdings by at least 15,000 tonnes to the extent that this full dehoardind of 1,000 tonnes of official gold sales up till Sept 2006 was in jeopardy. The FED's own gold reserves of 8,1000 tonnes have morphed into a description of "loaned/swapped" gold from a most curious designation of "gold in deep storage", previously appended to this line item in its accounts. Clearly this gold is "vaporous". Whilst indeed the FED was successful in engineering the recent retreat in the gold price, this was only achieved after G8 co operation-no one in their right mind has ever suggested that all central bank gold has been swapped/loaned/leased, just most of it.
But if you are short gold, unfortunately you are not completely off the hook by this news that the gold price may be suppressed by the full WAG2 quota allocation in the next two years. The current IMF gold holdings of 3,217 tonnes came into existence in the seventies by certain quota transfers of gold to the IMF. Did these physical transfers of gold ever take place, or is the IMF gold merely represented by the right to call up such transfers, with the physical vault gold remaining in the custody of the donating central bank (and being double counted for the last 35 years!)? Nobody is saying if these transfers ever occurred, and they certainly cannot happen now if they didn't happen then (because that gold is most certainly gone).
Also, if these transfers did take place, where was the IMF gold physically stored? Again no one is saying. Even if the IMF obeyed its own rules and did not swap/lease/loan this gold, the physical custodians of the gold (people like the British, Americans and the French) may well have been tempted to do just that! So unless you have personally witnessed this IMF hoard of physical vault gold, and satisfied yourself that it is truly unencumbered, do not trust in this notion of IMF gold sales to bring succour to your short position in the gold market.
Regards
Nicholas

Chavez says IMF is selling gold cheap
source GATA : Le Metropole Members,

Chavez says IMF is selling gold cheap

Submitted by cpowell on 07:39PM ET Saturday, April 12, 2008. Section: Daily Dispatches
From The Associated Press
Saturday, April 12, 2008

http://biz.yahoo.com/ap/080412/venezuela_us_finance_meetings.html?.v=1

CARACAS, Venezuela -- Venezuelan President Hugo Chavez said Saturday that his government could afford to buy some of the International Monetary Fund's gold reserves as the Washington-based lender faces hard times.

Chavez raised that idea with a chuckle as the IMF, the lender of last resort for countries in trouble, considers trimming costs by selling off some of its gold reserves.

"Look at how the U.S. empire must be in unimpeded decline, that the International Monetary Fund ... is selling its crown jewels," Chavez said during a speech at a military parade.

"The International Monetary Fund is selling what gold it has left to be able to pay salaries," Chavez said. "We could give a loan to the monetary fund. ... We could buy some gold bars. ... I think they're selling gold cheap."

Chavez spoke as the IMF and World Bank were holding weekend discussions in Washington. One proposal on the agenda would trim 15 percent of the IMF's staff and sell about $11 billion in the institutions' vast gold reserves.

A vociferous critic of the U.S. government, Chavez also has long opposed the policies of the IMF and the World Bank. He called the IMF "the financial arm of the empire."

The leftist leader spoke during a parade marking the anniversary of a failed 2002 coup that briefly drove him from power. He accuses U.S. President George W. Bush's government of being behind the coup, which U.S. officials deny.

Speaking to troops, Chavez said of the U.S.: "It's an empire in decline, but it's still very dangerous."

First, correspondence between GATA and the International Monetary Fund suggests that the IMF cannot or will not account for the gold it claims to be preparing to sell. That is, the IMF will not specify how much of its gold is held at each its four national depositories, nor disclose whether that gold is audited. Further, the IMF's correspondence with GATA implies that the IMF's gold is actually just a claim on the gold reserves of its member nations, not gold segregated in any way from those national reserves.
Second, the Federal Reserve, in response to GATA's freedom-of-information request for access to documents involving gold swaps, has confirmed that it has such documents, that some of those documents contain secrets about gold, and that the Fed plans to keep these secrets.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

http://www.gata.org/node/6243

HO purée .. traduction rapide pour nos lecteurs anglophobes ..

First, correspondence between GATA and the International Monetary Fund suggests that the IMF cannot or will not account for the gold it claims to be preparing to sell. That is, the IMF will not specify how much of its gold is held at each its four national depositories, nor disclose whether that gold is audited. Further, the IMF's correspondence with GATA implies that the IMF's gold is actually just a claim on the gold reserves of its member nations, not gold segregated in any way from those national reserves.

le FMI ne peut pas ou ne souhaite pas compter le montant des réserves d'or qu'il prétend se préparer à vendre

le FMI ne précise pas quel est le montant des réserves d'or stockées auprès des 4 principaux "gardiens" sur le territoire national , pas plus qu'il ne précise si le montant de ses stocks d'or a fait l'objet d'un audit


l'or du FMI n'est qu'une créance sur l'or des réserves de ses pays membres, et en aucune manière l'or séparé des mêmes réserves nationales


olala c'est un scoop ça .... lisez et relisez bien ....


apres faudra se demander comment tout cela est compté :

créance d'or du FMI : compté une fois
est ce que cette créance du fmi est décomptée des réserves nationales des pays membres??.. car dans le cas contraire, on aurait ENCOREdes réserves d'or comptées 2 fois ..

hum

Second, the Federal Reserve, in response to GATA's freedom-of-information request for access to documents involving gold swaps, has confirmed that it has such documents, that some of those documents contain secrets about gold, and that the
Fed plans to keep these secrets.

2- la fed en réponse à la freedom information act du Gata, pour accéder aux documents relatifs aux préts d'or, a confirmé qu'elle avait bien de tels documents, que certains d'entre eux contenaient des informations confidentielles , que la FED entend conserver confidentiels

http://www.gata.org/node/6241

extrait concernant les réponses du FMI

This month I wrote to the managing director of the IMF, Dominque Strauss-Kahn, with five questions about the IMF's gold. I copied the letter to the IMF's press office by e-mail, and quickly began to get some answers from one of its press officers, Conny Lotze.
My first question was: "Your Internet site says the IMF holds 3,217 metric tons of gold 'at designated depositories.' Which depositories are these?"
Conny Lotze of the IMF replied, but not specifically. She wrote: "The fund's gold is distributed across a number of official depositories," noting that the IMF's rules designate the United States, Britain, France, and India as IMF depositories.
My second question was: "If you'd prefer not to identify the depositories for security reasons, could you at least identify the national and private custodians of the IMF's gold and the amounts of IMF gold held by each?"
Conny Lotze replied, again not very specifically: "All of the designated depositories are official."
My third question was: "Is the IMF's gold at these depositories allocated -- that is, specifically identified as belonging to the IMF -- or is it merged with other gold in storage at these depositories?"
Conny Lotze replied, still not very specifically: "The fund's gold is properly accounted for at all its depositories."
My fourth question was: "Do the IMF's member countries count the IMF's gold as part of their own national reserves, or do they count and identify the IMF's gold separately?"
Conny Lotze replied a bit ambiguously: "Members do not include IMF gold within their reserves because it is an asset of the IMF. Members include their reserve position in the fund in their international reserves."
This sounded to me as if the IMF members are still counting as their own the gold that supposedly belongs to the IMF -- that the IMF members are just listing the gold assets in another column on their own books.
My fifth question to the IMF was: "Does the IMF have assurances from the depositories that its gold is not leased or swapped or otherwise encumbered? If so, what are these assurances?"
Conny Lotze replied: "Under the fund's Articles of Agreement it is not authorized to engage in these transactions in gold."
But I had not asked if the IMF itself was swapping or leasing gold. I had asked whether the custodians of the IMF's gold were swapping or leasing it.
This prompted me to raise one more question for Conny Lotze. I wrote her: "Is there any audit of the IMF's gold that is available to the public? I ask because, if the amount of IMF gold held by each depository nation is not public information, there doesn't seem to be much documentation for the IMF's gold, nor any documentation for the assurance that its custody is just fine. Without any details or documentation, the IMF's answer seems to be simply that it should be trusted -- that it has the gold it says it has, somewhere."
And Conny Lotze ... well, that was 10 days ago, and she has not answered that question yet, and I don't think she is going to. For I'm beginning to find that the only thing that offends a government officer more than a four-letter word is that five-letter word: A-U-D-I-T.
That the International Monetary Fund apparently refuses to account for the gold it claims to have should be potential news for the financial media. We hope they will pursue that issue before they next attempt to scare the gold market with stories about IMF gold sales.

Mouais, ça doit être des bêtes de compète au scrabble...

réserves d'or..."mot compte double"...


Et en mots croisés aussi ils déchirent:

synonyme de "DONT" ?...heu.... "PLUS"

puisque l'or du FMI, n'est qu'une créance sur les stocks d'or des états membres, quid de cette vente de 400 Tonnes d'or dont on fait grand cas?

si les Banques centrales membres ne possédent plus cet or, l'ayant prété.. cette pseudo vente d'or, serait peut etre bien le moyen de couvrir ces prêts d'or... en payant les Banques centrales en question avec du dollar... tout simplement ...

lire l'analyse de C Powell .. ici

curieuses coincidences, depuis l'opération lancée par le Gata, la "fable " des ventes d'or pour 403 Tonnes par le FMI a fait long feu ..

silence radio sur les ondes ..

se pourrait'il que nous ayions un "petit problème' avec les 403 Tonnes d'or du cambodge cédées au FMI en 1999-2000
cet or métal immédiatement prété par le dépositaire à une bullion banque et vendu à découvert sur le comex
... au cours de 300$ l'once
petit pb: la banque s'est engagé à retourner l'or ainsi emprunté .. pas rembourser en $ .. , nuance !

DONC, 2008 arrive et le FMI aimerait bien disposer de cet or ...pour le vendre, comme annoncé à grand renfort de trompettes ..

fastoche, il sufit que la bullion banque rachéte ces 403 Tonnes d'or au cours actuel et encaisse une perte de 6 milliards de $



pour le moment, on rigole encore ...c'est pas voté ... mais imaginez un peu si le congrès US, à qui on aurait pas dit toute la vérité, votait cette vente d'or du FMI ...bonjour le merdier ..des déluges d'offres d'achat au portillon ... ça ferait désordre

peut être bien pour ça qu'on n'en parle plus, de cette fameuse vente d'or du FMI..



source www.lemetropolecafe.com


Good Afternoon Bill (from Qatar)
Who still focuses on the vague "non answers" given by Conny Lotze, an IMF press officer ,to the probing questions of GATA's own Chris Powell back in April 08? That date just about coincides with the issue of the proposed sale of 403.3 tons of IMF gold COMPLETELY FALLING OFF THE RADAR SCREEN. After the G7 meeting earlier this year, there are literally thousands of references to this proposed sale. Then suddenly complete silence, coinciding with just about the precise minute that Conny Lotze admitted that she was close to clueless as to the specific details of the whereabouts of the IMF's gold hoardings of 3,217 metric tons.Why so much noise and initial excitement and then silence? WAS GATA GETTING TOO CLOSE FOR COMFORT? Bill, I have spent hundreds of hours trying to understand IMF gold holdings. Permit me to tabulate my thoughts and then let anyone with more precise knowledge on this arcane subject rebut them.
1.The 25% initial quota subscriptions of the member countries to the IMF were only ever PLEDGED in gold, and no physical tranfers of the metal occurred, leading to the further presumption that in many instances the IMF's reported gold hoardings have continued to be DOUBLE COUNTED as both reserves of the IMF and (part of) the reserves of the pledging central banks.
2.By the IMF's own admission the gold received from Cambodia of 0.7tons in 1992 and 402.6 tons received in 1999-2000 as repayment of IMF credits (total 403.3 tons) was always housed by a designated depository.
3. The depository (BOE?/FED?) then leased this 403.3 tons of gold to a bullion bank who then bombed the spot market. The bullion bank enjoys the proceeds of this gold sale (and pays a minuscule lease rental) but also has a "nominal" obligation to the depository for the return of the swapped gold.
4.2008 arrives and the IMF wants to dispose of this 403 tons. A very bad time for the bullion bank to enter the spot market and repurchase 403 tons of physical gold. Simple-pay up the current value of the 403 tons to the depository who then transmits the dollars to the IMF. No disruption to the spot gold market. One small problem-if the leased gold was sold around 2001, the gold price was well south of $300 per oz. and consequently somebody now has to book a realised loss of up to $6 billion dollars, just when the bullion banks are under the microscope for other categories of loss -but not an insurmountable problem with a FED loan and a John Negroponte reporting exemption.
5.The real problem could occur if the USA Congress gives approval for the IMF sale. The internet is full of speculation about "non compliant" central banks (and others) lining up to buy 403 tons of gold at today's bargain basement prices. The IMF could receive a deluge of offers! Think of the disorderly consequences for the gold market if the truth was ever leaked that the IMF gold has long ago been sold. The aggrieved parties might still decide to enter the physical gold market anyway, realizing the future implications of the unravelling of the gold price suppression conspiracy. Now is a particularly inconvenient time for the world's attention to be turned towards the opaque world of the true state of central bank gold reserves and the ("criminal") suppression of the gold price.
The simple solution is that which we are now witnessing- veil the issue of proposed IMF gold sales in absolute silence. Does this explanation make sense? How otherwise do you explain such a hot topic as IMF gold sales being completely and suddenly atomized?
Regards
Nicholas

***********

tiens donc c'est bizzarre, mais les récentes révélations de Butler sur les agissements de 3 bancaires US sur le marché de l'or pourraient bien trouver ici, leur explication

- plus 244 Tonnes d'or vendues à découvert sur le comex entre juillet et aout par 3 banques us
- soldes des ventes d'or du WAG en cours sur le quota de 500 tonnes d'or / 180 tonnesd'or
soit un total de 424 Tonnes d'or

ça collerait pil poil avec l'agenda du vote du congrés, qui aurait Pu exiger des banques us qu'elles agissent préalablement, en tant que vendeuses de cet or prété ?..

possiblement citi, morgan et bank of américa .. qui auraient donc agi sur ordre..et pour une opération blanche, hors commissions de courtage .. qui aurait servi des intérets communs .. à la politique monétaire us, aux banques us en question, tout en sauvant la mise de la bb emprunteuse des 400 Tonnes d'or du FMI... ça fait beaucoup d'intérets convergents, tout ça ..

c'est un scénario tout à fait crédible ma foi .. et si tel est le cas .. l'or du fmi a déja été vendu ( préalablement à un vote, soit dit en passant )..

et pire encore, il a été vendu, alors qu'il n'était pas dans ses coffres ...

ne vous laissez pas berner, quand ils annonceront le vote favorable du congrès



www.lemetropolecafe.com

Gold and the IMF…
Bill,
Connecting the dots between Ted Butler’s discovery of massive bank sales of Comex gold and Nicholas’ missive on the status of remaining WAG2 sales and the proposed IMF sales we may have the cause of this latest gold price mauling. Could the U.S. Congress have promised that it would approve the IMF gold sale of 403.3 tonnes with the condition that U.S. banks act as the sales agent for much or all of this gold. The IMF would definitely get a much better price by having sold in the previous weeks than if it waited until after Congressional approval. This gold could have been sold by these 3 banks, probably Citi, Morgan, and Bank of America, via Comex December 08 futures, knowing that this gold would be released by then. This would be a no lose trade by these banks as they would get a commission either way and if prices dropped they could rebuy cheaper and if prices rose they were backstopped by real physical gold. The 11 fold increase is futures sales by the 3 banks, noted by Butler, was from 778,700 ounces to 8,639,800 ounces. This is an increase of 244.5 tonnes which is in the ballpark with the proposed IMF sale of 403.3 tonnes and the remaining WAG2 2008 sales of 180 tonnes. Additional IMF sales could be attributed to the 2009 year sales as well. This arrangement would serve the U.S. governments needs well in that it would contribute needed funds to these banks, would bash the gold price, and increase the U.S. dollar. So far it looks like mission accomplished for the Wall Street thugs. Regards,
-Bryant

LOL... roulement de tonnerre et coup de tambour !!

le FMI n'aurait plus besoin de vendre son or ( qu'il n'a pas ? )

en fait c'est ça la news amah !!! le fmi n'a plus d'or !!




IMF May Not Need to Sell Gold as Loan Demand Increases, VM Says
http://www.bloomberg.com/apps/news?
pid=20601012&sid=aUVvmRQmM9c8&refer=commodities
.......By Nicholas Larkin
Feb. 11 (Bloomberg) -- The International Monetary Fund may not need to sell part of its gold reserves because the global economic crisis has renewed demand for the organization’s loans, London-based researcher VM Group said.
The IMF’s board approved a proposal in April to sell 403.3 metric tons of bullion as part of a plan to close the Washington- based lender’s annual deficit. The gap had widened because of diminished income from loans to emerging markets, where economic growth had reduced funding needs. The IMF also planned "sharp spending cuts" at the time.
Loan demand now has strengthened because of the world slowdown, potentially removing any need for the organization to sell some of its gold, VM said yesterday in a report. The IMF has agreed to lend $47.9 billion to Iceland, Ukraine, Pakistan and other countries affected by the crisis.
"The increase in loans means the fund’s income will be rising too," VM said. "Given the state of the world’s economy and credit markets, it is likely that outstanding loans will rise, further boosting the fund’s annual income."
The IMF has the third-largest gold reserves, totaling about 3,217 tons, according to December figures from the World Gold Council. Bullion for immediate delivery traded at $917.33 an ounce as of 8:44 a.m. in London. At that price, 403.3 tons would be worth $11.9 billion.
The issue of gold sales "could be put on the back burner," VM said. "At the very least, the IMF’s renewed relevance has strengthened the case of those who oppose such sales."
-END-
The Gold Cartel must have freaked at the above story. This just out…
REUTERS IMF HAS NO PLANS TO CHANGE PROPOSAL TO SELL 403 TONNES OF GOLD - SPOKESWOMAN
The Gold Cartel just couldn’t help themselves without making it 8 times in a row. They are so pathetic.

lol, les commentaires de Chris Powell




http://www.gata.org/node/7160

But anything about IMF gold sales is likely to be disinformation, insofar as the evidence is that the IMF has no gold at all, only the most tenuous claim on the gold reserves of some of its member nations (see http://www.gata.org/node/6242), and insofar as China, to diversify its foreign exchange reserves, probably would buy, in an off-market transaction, any and all IMF gold offered for sale (see http://www.gata.org/node/6792). Indeed, given the secrecy that envelops official gold reserves, any gold that is really under the IMF's control or influence well may have been transferred or irrecoverably leased already.
In any case, gold investors should worry about IMF gold no more than they worry about rogue asteroids and the expiration of the Mayan calendar on December 21, 2012. Whatever the IMF does, GATA plans to continue using the Gregorian calendar, and the financial press being what it is, we manage to cope with plenty of asteroids every day.


mais en dépit de ce rapport.. FMI insiste .. il vendra de l'or... un jour



http://in.reuters.com/article/domesticNews/idINLB54061420090211

un an plus tard, rebelotte, on nous remet ça sur le tapis.
il semblerait que la nouvelle administration obama, et son directeur du trésor Timothy Geithner fassent pression pour cela
reste bien entendu à obtenir l'aval du congrès qui y a toujours été fortement opposé... le tout en admettant que cet or soit toujours ds les coffres du FMI ( qu'il ait été deja vendu ou prété )

en tout état de cause, ces 400 T viendraient à pic pour remettre à niveau les ventes du systéme wag, en constant déclin ... autrement dit, ça ne changerait pas gd chose, par rapport à la période où wag fonctionnait à plein

**************

http://www.lesechos.fr/info/inter/4842059-l-administration-obama-prete-a-mobilis er-les-reserves-d-or-du-fmi.htm

[ 13/03/09 ]
Les propos tenus mercredi par le secrétaire américain au Trésor, Timothy Geithner, envisageant explicitement la vente d'une partie des réserves d'or de l'institution financière ont mis en effervescence le monde fermé des négociateurs du métal jaune.

Les déclarations de Timothy Geithner représentent un tournant majeur des Etats-Unis en matière de gestion des réserves de change en or. La législation du pays est très conservatrice sur ce point. Tout changement exige que le Congrès soit saisi et la modifie en conséquence. D'après plusieurs négociateurs suisses spécialisés dans ce métal précieux, l'administration Obama est réellement déterminée à rompre avec la politique actuelle dans ce domaine et présentera « rapidement » aux législateurs une proposition permettant l'activation de ces stocks. Jusqu'ici, les Etats-Unis s'y étaient farouchement opposés. Ses représentants au FMI avaient fait la sourde oreille aux appels allant dans ce sens lancés à intervalles réguliers ces dernières années. En avril 2005, en marge du G7 des ministres des Finances, ils avaient opposé une fin de non-recevoir aux pressions conjointes exercées par Gordon Brown, alors président du comité du FMI et chancelier de l'Echiquier, et par le directeur exécutif du Fonds de l'époque, Rodrigo Rato. Il en avait été de même près de deux ans plus tard, en février 2007, quand un rapport rendu par « un comité de personnalités éminentes » chargé d'étudier les modes de financement du FMI avait préconisé « la création d'une dotation à partir de ventes limitées d'or ». L'arrivée de Dominique Strauss-Kahn à la tête du Fonds n'a pas davantage fait bouger les Américains.
En faveur de la vente

Pourtant, début avril 2008, le comité exécutif du FMI avait voté en faveur de la vente d'« une portion limitée des avoirs en or de l'institution », soit 403,3 tonnes sur un total de 3.217. La décision était restée lettre morte car, pour procéder à la mise sur le marché du métal jaune du Fonds, il faut que 85 % de ses actionnaires aient donné leur feu vert. Or les Etats-Unis, à eux seuls, pèsent pour 17 % des voix. Ce qui correspond de facto à un droit de veto. C'est pourquoi les commentaires de Timothy Geithner sont très importants. Mais, comme le souligne John Reade, chez UBS, ni lui ni même le président Barack Obama n'ont le dernier mot. L'obstacle du Congrès n'est pas des plus faciles à franchir. « Nous craignons que ce vote se transforme en une problématique très partisane », estime l'expert. Aux prix actuels, la cession de 403,3 tonnes d'or rapporterait à l'institution internationale plus de 13 milliards de dollars, accroissant la capacité d'emprunt et donc de prêt de l'institution.

(suite au post suivant) :
http://www.boursorama.com/forum/message.phtml?id_message=384266539

"le fmi pourrait vendre 403 t d'or Auj. à 07:59

L'or et les métaux précieux
.
Fortes pressions sur l'or
Joël Antoine | JDF HEBDO | 14.03.2009 | Mise à jour : 20H17
Les anticipations haussières sont entretenues par un flux acheteur
récurrent, notamment sur les trackers. En outre, UBS vient de
recommander à ses clients de surpondérer le métal jaune car
l'indécision des marchés entre le scénario d'une récession et celui
d'une forte reprise de l'inflation va peser sur la valorisation des
autres classes d'actifs.
Selon la banque suisse, investir dans l'or revient à accepter une perte
maximale de 50 %, 500 dollars l'once devant être un cours plancher,
face à une plus-value potentielle triple, l'or pouvant atteindre les
2.500 dollars d'ici cinq ans.
Cependant, les cours pourraient être négativement touchés par la vente
d'une partie du stock d'or du FMI. La cession de 403 tonnes permettrait
à l'organisation internationale de relancer son activité de prêt.
.
Votre commentaire"

Ma réponse :
http://www.boursorama.com/forum/message.phtml?id_message=384269046

Cela ne changerait rien... Auj. à 12:03

Même si le FMI :
a) Disposait vraiment de l'Or qui lui est attribué officiellement (ce dont on peut sérieusement douter)

b) Était autorisé à vendre tout, ou partie de cet or (ce qui a été
impossible jusqu'à présent, car cela nécessite un accord du congrès
Américan qui y est farouchement opposé)

c) Last, but not least : Que cet or n'ait pas DÉJÀ été "leased" (loué) à ces Bullion Banks...

Au cas, bien extraodinaire, où les 3 points ci-dessus étaient validés,
403 tonnes d'Or, cela ne représente jamais que +/- le tiers du déficit
ANNUEL entre la demande mondiale d'Or, et le total de la production
minière mondiale...

En d'autres termes, une "tasse dans un océan".

Bof...

lol, et on insiste ... les ventes d'or fmi seraient au programme du prochain G20.. comme si c'tait le g20 qui décidait ..
et surtout comme si ça allait résoudre les problèmes ..



bon, au moins on comprend comment ils comptent régler les pbs ..
ne vous attendez pas à de grandes annonces..nouvelles monnaies ou autres ..
on fera comme par le passé.. de la parlotte, beaucoup de parlotte.. et tout ce k'il faut pour empecher l'or de donner trop de signaux inquiétants ..
bref, tjs la même "thérapie"... casser ou ( essayer) le barométre, plutot que de réparer ce qui commence à fissurer grave ..

IMF gold sales expected to be on G20 agenda

Draft G20 communique suggests IMF will be asked to advance gold sales proposals to help aid low-income countries.

Posted: Monday , 30 Mar 2009

LONDON (Reuters) -

G20 leaders are expected to discuss using proceeds from planned gold sales by the International Monetary Fund (IMF) to double funding available for poor countries which need help dealing with the global economic crisis, a source familiar with the plan said on Sunday.

The source said there was not unanimous support for the idea, including within the IMF, because the IMF's low-interest lending to poor countries does not generate enough return to fund further lending.

Regardless of any possible gold sales, IMF Managing Director Dominique Strauss-Kahn has already asked the G20 group of the world's 20 biggest economies to provide additional funding to double resources for IMF low-income programmes.

According to a draft G20 communique obtained by the Financial Times, the IMF will be asked to "bring forward, by the spring meetings, proposals to use the proceeds of agreed gold sales to support low-income countries".

The IMF last year approved the sale of 403 tonnes of gold from its stocks of 3,217 tonnes (103.4 million ounces) as part of a plan to put its finances on a sounder footing and create an endowment with the proceeds.

Selling IMF gold requires ratification by the legislatures of member countries, including the U.S. Congress, a process which is expected to take at least several months.
The IMF has therefore emphasised that plans to sell gold are not part of proposals for near-term financing needs associated with the current global financial crisis.

But a recent surge in IMF lending to countries facing balance of payments crises related to the global downturn has led analysts to ask whether the Washington-based institution needs to proceed with the gold sales as part of a broader make-over of its financial structures.

African leaders and anti-poverty groups have long called on the IMF to sell more gold to raise immediate funding for poor countries, which are now being hard hit by falling exports and lower commodity prices.

The IMF has repeatedly said that any gold sales would be made under the umbrella of a central bank gold agreement, to avoid disruption in the market.

-END-

Citation :

to put its finances on a sounder footing and create an endowment with the proceeds.

à mettre ses finances sur des bases plus solides (que l'or) et de créer un fonds de dotation avec le produit.

le congrès us vient d'approuver la vente 400Tonnes d'or du fmi, soit 1/8 eme des réserves que le fmi prétend détenir

Citation :

Lawmakers agreed to Obama’s request to include $5 billion to secure $108 billion in aid, primarily in the form of a line of credit, to the International Monetary Fund. The legislation would permit U.S. representatives to the IMF to agree to its planned sale of 13 million ounces of gold, one-eighth of the organization’s holdings, to help finance aid to poor countries.

http://www.bloomberg.com/apps/news?pid=20601103&sid=azS1VwKeTbKo

conformément aux déclarations précédentes, cette vente rentrera dans les quota du washington agreement... qui en avait bien besoin .. histoire de rebooster les ventes défaillantes.. des BC signataires du wag .. ouf l'honneur est sauf