The Fed is escalating Gold price by allowing India to carry trade Gold betting on Gold price will rise against USD. This policy is counter-intuitive to further depress American Economy as most will be stressed by rising prices even though economic news is reporting it as a good sign.
US is holding 77.4% of reserves suggesting that the Fed was buying Gold to validate the value of the US currency; however, the fact that the USD real value has fallen over 95% since 1913 is flabbergasting and startling.
Nov. 3 (Bloomberg) -- The International Monetary Fund sold 200 metric tons of gold to the Reserve Bank of India for about $6.7 billion, its first such sale in nine years.
The transaction, equivalent to 8 percent of global annual mine production, involved daily sales from Oct. 19-30 at market prices and is in the process of being settled, the IMF said in a statement yesterday. The average price to India, the biggest consumer, was about $1,045 an ounce, an IMF official said on a conference call. Gold for immediate delivery gained 0.2 percent.
The World's Biggest Gold Reserve
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