MajorD, Here's a little information about the IMF and gold I had saved from an earlier time. I have forgotten the reference. Obviously, the US is in the cat bird's seat on this one with their 17%, and though they blocked the last attempt by the IMF to sell gold, I wouldn't be so sure this time around. I imagine there will be the same speeches both ways as before and the usual behind the scenes arm twisting.

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<>"First, it?s not the IMF?s gold. The metal belongs to the depositor nations, the largest of which is the U.S. The Aamerican taxpayers own that gold, and thus have a very real interest in what happens to it.

Second, the IMF is prohibited from trading in gold. Its bylaws state that it does not “have the authority to buy gold,” nor may it “engage in any other gold transactions-such as loans, leases, swaps, or use of gold as collateral.”

What it can do is “accept gold in the discharge of a member’s obligations” and “sell gold outright,” but the latter requires “an 85% majority of total voting power.” Since the U.S. controls about 17% of voting power, it can’t by itself make a deal happen. But it has the absolute authority to block one."

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