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Rick Ackerman: Gold bugs could call IMF's bluff

Section: Daily Dispatches

11:46p ET Monday, February 25, 2008

Dear Friend of GATA and Gold:

Rick Ackerman has joined the growing chorus of market analysts snickering at the possibility of gold sales by the International Monetary Fund. The gold contemplated for sale by the IMF, Ackerman observes, is a tiny fraction of the gold needed by nations seeking to hedge their huge dollar surpluses. Ackerman predicts that the dollar-surplus holders will gobble up any amount of gold the IMF wants to throw at them and that it will turn out to be "the day the hard-money advocates called the bankers' bluff."

Ackerman's commentary is headlined "Gold Bugs Could Call IMF's Bluff" and you can find it at GoldSeek here:

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

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