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Tom Luongo: Killing all the birds with one pile of gold
12:45a ET Wednesday, June 16, 2021
Dear Friend of GATA and Gold:
Financial writer Tom Luongo tonight posted a long and complicated speculation about what he thinks the "Davod Crowd" means to do with the world financial system. It involves selling some national gold reserves through the International Monetary Fund in the name of helping poor countries -- a ruse that was undertaken years ago to help bullion banks and central banks cover short positions -- and giving the IMF supervision of world currency creation.
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Your secretary/treasurer isn't persuaded, since the supposed scheme is so complicated and since the IMF, like the World Bank, is controlled by the United States and was created precisely to keep the world dependent on the dollar as the world reserve currency. The U.S. has veto power over anything major that might be attempted by the IMF, so why would a world increasingly resentful of U.S. imperialism pick the IMF as the instrument of change?
But see what you think. Luongo's essay is headlined "Killing All the Birds with One Pile of Gold" and it's posted at his internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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