Warren Bevan: China and IMF gold sales -- the real story

Section:

3:06p ET Tuesday, June 23, 2009

Dear Friend of GATA and Gold:

In commentary posted today at GoldSeek, Warren Bevan, editor of Precious Metal Stock Review, surmises that China's recent open partiality to gold as a means of diversifying its foreign exchange reserves was meant as a warning to the West to accomplish gold sales by the International Monetary Fund -- so that China might buy it all.

You may recall GATA's account last October of economist Robert Mundell's open and private advice to China that it should buy any and all gold offered for sale by the IMF:

http://www.gata.org/node/6792

Maybe that's why, Bevan says, Congress' belated approval this month of IMF gold sales seems to have had little impact on the gold market.

Bevan's commentary is headlined "China and IMF Gold Sales: The Real Story" and you can find it at GoldSeek here:

http://news.goldseek.com/GoldSeek/1245776400.php

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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