A Connection Between IMF Gold Sale Proposals and the Loch Ness Monster?

Gold prices correctly shrugged off the announcement of the International Monetary Fund (IMF) that wants to sell 403.3 tons of gold, worth some $11 billion, to cover annual losses of $400 million. While this transaction appears arithmetically strange from the outset, the idea is not exactly new. Like the Loch Ness monster IMF gold sales have been a reliable page filler in the past couple of years. A Google search for "IMF gold sales 2007" lists 77,100 documents and leads to Doug Casey's treatment of yesteryear's idea of the IMF. Casey could simply copy his 2007 item into this year's list of columns and he would not have missed any important beat. As in 2008 the IMF proposed a drawn out sale of 400 tons of g...

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