WC Varones

Don't lend your hand to raise no flag atop no ship of fools

IMF responds to Eric Sprott gold snub

As we noted here, the IMF recently refused to sell gold to Canadian hedge fund giant Eric Sprott.

Following up on the story, BusinessInsider contacted the IMF for an explanation. Here it is:
* The IMF is only selling gold though a qualified agent. There is only one of these agents at the moment and due to the nature of the gold market, they won't reveal who or what that agent is.
* The IMF is also phasing out the gold sale and does not intend to dump it all at once because to do so would disrupt markets, which is obviously not their intention.
* Sprott can't buy the gold directly because they do not deal with institutional clients like hedge funds, pension funds, etc. The only buyers can be central bankers and sovereign nations, that sort of thing.
* The IMF board agreed months ago how they wanted to approach the sale of the gold. Sprott is welcome to buy from central banks who have bought from the IMF, but not from the IMF directly.

due to the nature of the gold market, they won't reveal who or what that agent is
BWAHAHAHAHAHA!!! That "nature" being completely opaque and rigged for the benefit of the few and powerful, I guess!

We could tell you where you can buy gold, but then we'd have to kill you!

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