RE:RE:Green tomorrowdiabase1 wrote: What happens to the price of gold, when the US starts selling their gold? Boy, do they ever need money!!!!!
Three reasons the US will probably not sell off their 8.1 thousand tonnes of gold
1 It's a drop in the bucket compared to what they are soending even on just the 2 Trillion stimulus packacge let alone their annual spending for the year. If they sold all 8.1 thousand tonnes at $2000 an ounce it would bring in a little over 1/2 of one trillion $. To make a dent the price of gold would have to skyrocket.
2 They probably don't actually have 8.1 thousand tonnes stored. They won't allow audits and have not ever done a complete audit.
3 What gold the US does have is probably already leased out to more than one party (read Ponzi Scheme). Why else when countries like Germany or others ask for their gold to be repatriated would they have to wait years for delivery.