Are the European Central Banks Done Dumping Their Gold?

08-19-2009 • The Golden Truth

And the new gold agreement reduces the annual sales limit to 400 tons in order to accommodate IMF gold sales. China and India have indicated that not only would they like to buy the 403 tons the IMF wants to sell, but that they would like to buy all 3200 tons of IMF gold. We know that Germany, Switzerland and a few other European countries have indicated that they are done selling gold. Austria issued a statement this week that it was done selling gold until 2014. Italy is working on a tax agreement that would enable them to raise revenues without selling any more gold to raise revenues. So which countries are left as sellers? Likely candidates are France and Spain and maybe some smaller ECB countries which need to raise some cash. With world gold production declining every month now, and with global gold supply being quickly scooped up by several Asian and Arab Central Banks, where will the U.S. Government find more gold to keep its gold price suppression scheme alive? At the en