Our Awful Situation

Archive for the ‘IMF’ Category

Federal Reserve to be investigated by IMF

Posted by patriot on July 1st, 2008

It’s never one been audited, but it looks like the Fed may be investigated:

Humiliation for Mr. Dollar: Ben Bernanke, the chairman of the United States Federal Reserve Bank, faces a general investigation by the International Monetary Fund. Just one more example of the Fed losing its power.

IMF plans to sell off gold

Posted by patriot on April 8th, 2008

Get ready for volatility:

The International Monetary Fund (IMF) has proposed selling some of its gold holdings as part of radical plans to shore up its troubled finances.

It hopes to raise at least $6bn (£3bn) from the sale of 12.97 million ounces of gold, about 12% of the total held.

As the IMF’s role as a lender to troubled economies shrinks, so it needs to find other ways to access funds.

Gold has surged recently as traders looked for havens to protect their cash from troubled financial markets.

The gold sale is dependent on approval by US Congress.

It also relies on approval from many of the 185 countries that are members of the Washington-based institution.

{ }

Search

Recent Posts

Sites of Interest

Archives

Categories