Even the IMF Knows that Gold is Valuable

By Stephanie Quach

According to The Financial Chronicle (India), “India and China may press for the sale of the entire gold reserves of the International Monetary Fund (IMF) to raise money for the least developed countries. The IMF holds 103.4 million ounces (3,217 tons) of gold that, if sold, can fetch about $100 billion.” Are we in such a bad state that the IMF’s only precious asset is gold? Does the IMF not feel that the greenback is worthy? Looks like even the IMF knows that gold is the only asset that has value to and is stable.

Why is the IMF selling gold? According to “an official,” “[the IMF] is working on a more ambitious proposal of selling the entire gold off, as it is an idle asset with the IMF.” Idle asset? Wow. Gold is not some worthless idle assets. In fact, it is the most amazing idle assets ever because it sits in the vault and just becomes more valuable over the years, as it price keeps going higher and higher. It is like a bank account that never stops to accrue interest, and of course, with better rates than what you get now. Currently, Bank of America offers a mere 0.2% interest rate for a savings account. That means that if you deposit $100 in your account, you only make 20 cents a year. What can you do with 20 cents? It is not even enough to buy a gumball from one of those machines you see in the mall.

The money that will be obtained from selling the gold is supposed to be use to “tackle poverty in the poorest nations.” India and China, are looking at ways to spend this money, namely to improve the IMF’s liquidity, or to improve the incomes of the poorest countries, or some sort of combination of both. What irony. So the US wants to sell China some gold, and take even more dough from China. And this is called helping China’s poor? We have sold them millions of bonds, which we are unable to pay back. Maybe the Chinese got sick of our bonds, or don’t trust our bonds anymore. That is why we need to switch to gold instead. So this is the newest act of charity: borrow from the poor, and help them even more by finding other methods of getting cash from them. This is called “reducing poverty.”

Sad as it is, the IMF knows that gold is valuable. The Chinese know that gold is valuable. The Indians know that gold is valuable, and so does the rest of the world. It is our only asset that has held its value; it is what we turn to as a last resort because we know that gold always has value. Now that you know that too, go to RegalAssets.com to snatch your share of gold before the IMF sells everything and you will be left with worthless dollar bills.f

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