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International Monetary Fund (IMF) Needs Money

  
Analysis, Economy, Education, Gold / Silver
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 International Monetary Fund (IMF) issued a statement that it would begin selling large holdings of its gold reserves

IMF: Says will shortly begin ‘on market sales’ for remaining 191 tons of gold; To start selling up to $7B of gold to market

– Gold will be sold in a “phased manner” to avoid disruptions to gold market

– On market sales does not preclude sales of gold to interested central banks.
– Off-market sales would reduce amount of gold to be sold on the market.

So why is the IMF selling its gold? Is it that the monetary fund is looking ahead to more countries needing cash bailouts? Or does the IMF view gold as a worthless commodity in the future?

The announcement did impact the gold price as reflected on this gold chart which shows the reaction.

IMF-GOLD SELLING

Greece – About to Hit the Panic Button?

  
Analysis, Economy, Education
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Well it would appear that all the talk of the European Union and the IMF standing at the ready did not calm the markets when it was being discussed over the past month. It was hoped that the markets would be calmed if they knew that Greece had support from its neighbors.

That was Plan A, now it is time for Plan B, or C, D, E…

The Greek government’s cost of borrowing has hit a new high as talks on a joint eurozone and International Monetary Fund (IMF) rescue plan begin.

The interest rate on 10-year government bonds hit 8.3% – the highest since the euro was introduced.

Rates rose as it became clear that talks over the aid package may not be finished until days before a multi-billion-euro loan is due for repayment.

Investors are becoming more convinced that Greece will need to be rescued.

Greece’s finance ministry said the talks with the European Commission and the IMF would take about two weeks, with a joint text issued on about 15 May. […] (BBC)

It would appear that Greece is about to hit the button

Wednesday, April 21, 2010 1:27:13 PM
Greece Fin Min: Will make decision on whether or not to trigger the aid mechanism soon – Notes that the IMF will have discussions over the competitiveness of the country. No further austerity measures this year are likely.

IMF: Dollar Carry-Trade Creating Bubbles Around The World

  
Analysis, Economy, Education, Global Indices
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imf-global data

bubble(1)

Read a PDF of the IMF’s recent report here.

The International Monetary Fund (IMF) highlighted the fact that low interest rates in the U.S., plus an apparent “one-way” bet against the dollar has created a global dollar carry-trade that is driving capital flows into emerging markets.

If not handled properly, this will lead to emerging market asset bubbles, which arguably have already begun to inflate.

We’ve highlighted before how places like Hong Kong are seeing property prices go through the roof due to low U.S. interest rates. (more…)

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