i.e. if the truth leaks out one day (and it will)

From Midas tonight:

IMF Gold

Good Morning Bill , (from Nigeria),
I am back in Nigeria after recent spells in Qatar, Dubai and Iraq. Since MIDAS has increasingly become more voluminous ,crammed full of vital information from so many informed commentators, there has been little incentive to make any recent contributions. It was here in Nigeria ,about three years ago, that I spent hundred of hours researching the (non) existence of IMF Gold hoardings and I came to the conclusion that the 2,800 tons of gold claimed to be held by the IMF as initial quota share subscriptions from 1945 was completely vaporous, because the physical gold was never transferred from the IMF member countries to the IMF ,but remained in the custody of the founding charter members. Hence this amount of gold has been double counted for over 60 years in respect of the conventional wisdom that the central banks of this world have +30,000 tons of gold in their combined holdings . Then about a year ago (submitted to MIDAS), I found corroboration of this "fact" in the Sept 15,1947 edition of the American Bureau for Economic Research publication, that the USA merely pledged its gold subscription to the IMF and never physically transferred any gold..

How convincing was the IMF press secretary a couple of years ago in explaining to CP that we should be confident that the IMF has all the gold it claims, merely because the 'IMF would never lie"?. I still find it incredible that there are some people who believe that the IMF's other gold, the 403 tons that accrued from later trading transactions (inter alia with Mexico) is sill in unencumbered storage. Trust me, that gold has long ago pounded the spot market. The IMF has indeed claims to the proceeds of those sales, priced at prevailing prices, which will be an inconvenience for the bullion banks, who for so long have had the benefit of the endowment created by the proceeds of those sales of IMF gold, for which they never previously has had to render any account. It has been postulated that this non existent IMF gold was going to form the basis of the new central bank gold sales agreement of 400 tons per annum, now that WAG 2 has expired. Clearly the plan was to sporadically announce that the IMF had disposed of a few tons of gold and the value of those sales would result in a trickle feed of fiat US$s to the IMF's coffers. After a few years it would be announced that the IMF had completed the sale of this 403 tons and the fact that no gold ever hit the spot market from this de hoarding would have been obscured by effluxion of time.

Now, on the eve of the latest G20 summit and a new tranche of US bond auctions etc. it is (so predictably ) announced at midnight that the IMF sales of 403 tons is going to proceed. So much is now expected of this 403 tons of ALREADY SOLD gold. It must provide much of the substance of WAG 3 physical disposals over the next few years, it must satisfy a Chinese demand for more gold reserves, and, according to some, it must be available to Barrick, to get that company off the hook. High expectations indeed of a gold hoarding that the custodial thugs (the Fed and BOE-refer to details of the IMF press secretary's disclosures to Chris Powell) have long ago sold!
Regards
Nicholas