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Subject: A false economic recovery in 2010 will be followed by depression in 2011
Le Zookeeper    11/4/2009 11:03:21 PM
officially recognized as a depression in 2011 will lead to civil strife and war by 2012 globally.
 
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Le Zookeeper    quicker than I thought   11/6/2009 1:49:00 PM
I underestimated, unemployment already 10.2%, and 17.5% by other statistics, also observe the speed with which RBI bought 200tonnes of IMF gold. Unconfirmed reports suggest the Indian key finance minister said that North AMerica and EU are toast economically and hence the desire to unload paper currencies. China was expected to buy the 400 tonnes of IMF gold for sale, India wasted no time getting out of the greenback. Such massive economic disruptions always lead to war.
 
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Le Zookeeper    WW3 still on schedule   11/23/2009 5:47:39 PM
www.telegraph.co.uk/finance/ec...
 
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Le Zookeeper    Those who can are running away from paper currency= another confirmation of imminent economic collapse   11/25/2009 12:40:26 AM

India plans to buy more gold from IMF

By Mandakini Raina... Nov 24 2009 , New Delhi

Tags: IMF..., Plan...
India is open to buying more gold from the International Monetary Fund (IMF). It

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bought 200 tonnes for $6.7 billion on November 3. The Reserve Bank of India (RBI) may well buy IMF?s remaining hoard of 201.3 tonnes on acceptable terms, which are now under negotiation.

A government official said that the additional purchase would depend on the ?successful pitching by RBI?. ?RBI is an independent body, and the government does not interfere in its affairs. It will get the gold if its bid is successful and at the price it has offered,? said the official.

RBI did not respond to Financial Chronicle questions if it was bidding for the remaining IMF gold. The purchase of the first lot of 200 tonnes, RBI had said at the time, was a part of its foreign exchange reserves management operations.

Responding to query from FC, an IMF spokesperson said the gold sale process was still under way and ?there is no fixed timetable for completing the sale?. Its spokesperson further said that ?the fund does not wish to comment on discussions with individual members.?

RBI has good reasons to further enrich its gold reserves. In just three weeks it has been able to benefit by as much as $800 million on the investment of $6.7 billion it made in buying 200 tonnes from IMF.

Since 1999 RBI has been periodically valuing its gold reserves at ?prices close to the market?. It has not done so since it purchased the gold from IMF.

RBI bought the 200 tonnes at $1,045 an ounce. The transaction, from IMF to RBI, involved daily sales that were staggered over a two-week period, October 19-30, with each daily sale conducted at a price set on the basis of that day?s market price.

On Tuesday, gold prices stood at $1,168, an increase of 12 per cent over the price RBI paid. The market value of the gold, as of Tuesday, thus stood at $7.5 billion ? indicating a cool gain of $800 million for RBI.

RBI holds its forex reserves in a basket of currencies expressed in dollar terms. It is able to earn only a nominal return on the dollar reserves.
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