Entering text into the input field will update the search result below

Obama administration seeks approval from Congress to contribute up to $100 billion to the IMF

Apr. 27, 2009 5:34 PM ET
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Another huge amount of money that are kids will be obligated to pay back with interest.

Also the IMF considers a Bond Issue with China and Brazil actually expressing interest in the issue. I doubt either will be stupid enough to buy and Brazil is already asking for a higher interest rate than Treasuries. One has to question at what point do countries stop indebting themselves to give away money to failed institutions. With the constant “its different this time” over and over the tune gets tiring.

The only positive thing I can say about the IMF is that some American companies make a lot of money off of IMF projects but its of little reward for borrowing money to give away.

Keep an eye on gold prices in the coming few months if/when the IMF starts unloading some of its holdings to raise cash. They have announced that they would begin selling off some of the holdings but one thing that doesn’t appear to make a lot of sense is why would you pre announce that your going to sell a large amount of anything on the open market when your one of the largest players. They are either some of the most inexperienced and unqualified traders or they are bluffing/semibluffing.... Why would the IMF bluff like that? Simple, India is the largest importer of gold and with pressure from both India and China to contain the price the IMF is able at no cost to aid both economies as well as build their gold reserves at a lower cost. Of course this doesn’t have the gold producers singing any praises but they don’t have the population or the infulence that India and China have.

http://www.bloomberg.c...

http://www.commodityon...

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You