Now we're talking real money. When the powers-that-be start liquidating their commodity hoards, that's a clear indicator of change in the economic climate.

 

IMF plans gold sale to raise $6bn

 

http://news.bbc.co.uk/2/hi/business/7335749.stm

 

7 April 2008

 

The International Monetary Fund (IMF) has proposed selling some of its gold holdings as part of radical plans to shore up its troubled finances. It hopes to raise at least $6bn (£3bn) from the sale of 12.97 million ounces of gold, about 12% of the total held.

 

The gold sale is dependent on approval by US Congress. It also relies on approval from many of the 185 countries that are members of the Washington-based institution.