by David Kranzler
Investment Research Dynamics
In mid-2009, the IMF announced that it was going to sell a portion of its gold. It ended up selling 403 tonnes of its then-reported 3218 tonnes of gold. Back then the original announcement made it sound like the IMF was trying to push down the price of gold with a big sale announcement, as the price of gold went parabolic after the 2008 de facto collapse of the financial system. The excuse for the gold sale was to “shore up” IMF finances. However, historically, the IMF has sold off portions of its gold holdings as a policy to reduce gold’s role in the global fiat currency system.