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Posts Tagged ‘David Pietrusza’

17th May 2011

It recently came to this blogger’s attention that Republican Presidential Candidate Representative Ron Paul was recently reported to have noted his support for the idea of the United States Federal Reserve selling its gold reserves. To quote directly from the official website of the New York Sun, NYSun.com:

NEW YORK — The next big question on the federal debt limit could be whether to start selling the government’s holdings of gold at Fort Knox — and at least one presidential contender, Ron Paul, has told The New York Sun he thinks it would be a good move. The question has been ricocheting around the policy circles today. An analyst at the Heritage Foundation, Ron Utt, told the Washington Post that the gold holdings of the government are “just sort of sitting there.” He added: “Given the high price it is now, and the tremendous debt problem we now have, by all means, sell at the peak.”

The administration of this blog asks that readers click on the hyperlinks above to read this story in full as it is very cogently written by David Pietrusza. It should be noted that this issue may have an international complexion as some nations have taken measures of their own regarding gold. To quote further from Mr. Pietrusza’s aforementioned article in the New York Sun:

Mexico has acquired 93.3 tons of gold this year, while Thailand added 9.3 tons to its national reserves this March. Russia added 22.5 tons in January and February.

This information would seem to concur with information that this blogger has come across on the World Wide Web. In fact, to quote directly from the website CommodityOnline.com:

International Monetary Fund (IMF) announced huge gold purchase by Russia, Mexico and Thailand valued nearly $6 billion. The three nations situated on different regions of the globe added to their reserves in February and March as the price of bullion advanced to a record. Mexico has bought nearly 100 metric tons of gold since January while Russia increased its reserves of the metal by 18,8 tons to 811,1 tons in March and Thailand expanded assets by 9,3 tons to 108,9 tons in the same month.

The administration of this web log strongly encourages readers to click upon the hyperlinks noted above to read this article in full and to conduct further research in order to gain insight into this important state of affairs. It should be noted that recently the Head of the International Monetary Fund was arrested in New York City.

Issues surrounding sound money and legal tender reform can be complex and controversial on both the federal and State level. The reader is asked to conduct thorough research on these issues before coming to a conclusion as to one’s own opinion.

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