Mining MX of South Africa has reported and
indirectly hinted at the possible trouble IMF may
have in delivering 200 tons of gold to India.
(Link:

Following is the report:
\u201cThe biggest seller is the International Monetary
Fund, which is disposing of 403 tonnes of gold. It
was reported that India had purchased 200
tonnes of gold but by the start of November this
sale had not been settled.\u201d

IMF is based in Washington D.C. in USA
(700 19th Street, N.W., Washington, D.C.
20431). According to IMFfactshe e t it holds
Gold as under:

QUOTE:
IMF GOLD
The IMF holds 103.4 million ounces (3,217
metric tons) of gold at designated
depositories. The IMF's total gold holdings
are valued on its balance sheet at SDR 5.9
billion (about $9.2 billion) on the basis of
historical cost. As of August 28, 2009, the
IMF's holdings amounted to $98.8 billion at
current market prices.

A portion of these holdings was acquired
after the Second Amendment of the IMF's
Articles of Agreement in April 1978. This
portion, amounting to 12.97 million ounces
(403.3 metric tons) with a market value of
$12.4 billion as of August 28, 2009, is not
subject to restitution to IMF member
countries (see below), unlike gold the IMF
acquired before 1978.
UNQUOTE

I have already mentioned in my book \u201cSub Prime Resolved\u201d - Chapter 14 on Gold, the US may have lost almost 90% of its gold by

covertly selling or lending to hedge funds
which may never come back. These sellers
or hedge funds appear to have sold
majority of gold below $ 330. If those short
sellers were to buyback the shorted gold,
there would be huge increase in prices.

It is possible, though not conclusive, IMF is
not able to deliver the gold physically
because the real inventory at Fort Knox
may have been reduced. This could be one
of the reasons that IMF may not be in
position to deliver the gold in time. If the

Tiny Mauritius buys 2 tons of gold from IMF
Bloomberg reported...
Nov. 17 (Bloomberg) -- Mauritius bought 2
metric tons of gold from the International
Monetary Fund, underscoring a drive by central
banks to boost holdings as the precious metal
trades near a record and the dollar slumps.

The $71.7 million sale to the Bank of Mauritius
was based on market prices on Nov. 11, the IMF
said in an e-mailed statement yesterday. The
Reserve Bank of India paid $6.7 billion for 200
tons from the IMF, according to a Nov. 2
statement.

Not very significant quantitatively, but
psychologically it will boost the morale of
Gold bulls. It shows that Central Banks the
world over have turned buyers of gold after
a lull of over 3 centuries.

All the transactions between IMF and other
countries or central banks, are done \u201coff
market\u201d at the current market prices. Thus,
unless the IMF announces, the world will
never know of any major gold deals.

Further, if there is a default in delivery, the
world will not know until IMF tells
everyone. Had this transaction been done
on exchanges, the world would know of
non-delivery almost immediately.

This will catch the short sellers by their
neck. They thought that IMF proposed sale
will be a long time hang over on the market.
As result, the prices may turn weak. They
thought that gold in that case should falter.

They never thought that visually poor
country like India, which never bought even
1 ton of gold, would buy as much as 200