Bye-Bye Gold Bugs

The IMF has had significant gold holdings, and it does not do them much good.

When you provide and loans, shoveling out gold does not work that well, you want to use currency of some sort, preferably something that can be transferred electronically, so they have been selling it off for some time.

Well, the, "central banks of India, Mauritius and Sri Lanka," have been buying up gold, for reasons that appear to be tied to batsh%$ insane medieval monetary ideas, so the IMF gold has not effected the commercial markets for gold.

Well, it appears that, "India, Mauritius and Sri Lanka," have finally had enough, and the IMF plans to sell 191.3 tons of gold, in order to be able to make low cost loans to poor nations that have been hurt from the financial crisis.

Basically, when everyone goes over crazy about an investment, it's time to get out.

If you own gold for speculative purposes, it's a good time to get out ………… Now.

If you are buying a gold wedding band, that's still cool, but take my advice: Elope, and use the money saved for a party.