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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: Copied from Gekko's blog spot

Copied from Gekko's blog spot

posted on Mar 29, 2010 12:59PM

If the inference here is true, all hell could break loose in the near future.

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The report is from the federal reserve government releases and it shows the flow of funds in the 4th quarter.

I checked the government data and sure enough on page 24, line 14 the usa sold 190.7 billion dollars of gold (SDR's translated into real oz). At 1000 dollars per oz that translates into 5937 tonnes of gold.

The previous quarter on the flow of funds reports showed no gold activity. Looks like the usa is trying to paper over their sale of 6000 metric tonnes of gold.

The usa has 8133 tonnes of gold so 73% of the usa gold reserves have been liquidated.

The problem here is that the gold belongs to its citizens and not government. The government needs congressional approval to sell the gold.

Trouble ahead on this front!

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