BIS Engaged in Gold Swaps to About 380 Tonnes
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BIS Engaged in Gold Swaps to About 380 Tonnes
By Jesse
These swaps have significance because of the speculation that the public sale of gold by the IMF, which was secretive and selective, was not a legitimate sale to raise funds, but a means of bailing out the bullion banks who had taken gold previously on lease and sold it into the public markets, but were unable to return it because of the tightness of supply in the physical bullion market, increasingly disconnected from the NY based paper market.
Several private bullion buyers, including Eric Sprott, are reported to have made firm and well priced offers to buy large tranches of gold from the IMF, only to be curtly turned away as ‘ineligible.’ The IMF is selling at the prices they determine ex-market to the people to whom they wish to sell. It appears that they may be managing this through BIS.
Continue reading IMF – BIS Engaged in Gold Swaps to About 380 Tonnes; Organized Looting of Sovereign Wealth
