A group called the Gold Anti-Trust Action Committee claims that the U.S. government has defrauded the American people out of the nation’s wealth. Specifically, the group claims that the U.S. has secretly sold, leased or otherwise frittered away half of its entire gold reserves to pay for past military adventures abroad and other ill-conceived actions. Furthermore, the group claims that the government has intentionally covered up this loss of gold reserves through accounting fraud.
Are they right?
Well, as described by Darryl Robert Schoon !!! in his book “How to Survive the Crisis and Prosper in the Process”: Continue reading »
Tags: Financial Crisis, Gold, Gold Reserves, Government, Meltdown, Silver, U.S.
The International Monetary Fund has approved the sale of 403.3 tonnes of IMF gold reserves, in a financial overhaul which is hoped to boost its coffers.
Governors from 176 of the Fund’s 185 member countries cast votes to sell the gold, in order to create an endowment to helps provide a steadier source of income to the international organisation.
The new income and expenditure framework is expected to cover a 400 million-dollar shortfall projected in the medium term.
An IMF austerity program, announced April 7th, also calls for a 13.5 percent cutback in IMF spending over the next three years.
The IMF was created over 60 years ago with a mission to foster global financial stability.
Wednesday 7th May, 2008
Source: Australian News
Tags: Gold, Gold Reserves, IMF