Bail out, baby, one more time!

Now, all of a sudden, due to skyrocketing gold prices caused by all the failed solutions to all the above-mentioned problems, and due to virtually nonexistent and/or unavailable central bank gold hoards, we are about to witness the purported sale of the IMF gold - AGAIN! Yes, the perpetual "IMF Gold Sales" are on once again, and nothing could be more bullish for gold! Talk about treating only the symptoms and not the underlying diseases!!! The last time the IMF did this was its 1978-1980 auctions of about 800 metric tonnes of gold, which coincided with the very sharpest part of the run-up in the greatest bull market for gold up to that point in time. We are torn between telling Congress (as gold bugs) to go for it and telling the Congress (as citizens) that if the IMF can't operate at a profit or at least break even, they do not deserve to be bailed out by use of our or any other country's gold reserves. NO MORE BAILOUTS!!! [...] The G-7's preliminary approval of this sale of 400 metric tonnes of gold, if implemented by US Congressional approval as required by law, will be just as ineffective as all the other moves of desperation enumerated above and will completely fail in its intended purpose - gold suppression. And make no mistake about it, that is what this move is all about. Note how the agreement is supposed to be finalized in April. Gee, isn't that the month where the most active gold futures are now placed, some 300,000+ of them, to form the latest mountain of shorts for the cartel? Hmm, isn't the peak of the gold season usually in the April to May time frame?

Read Bob Chapman's IF