By Jim Sinclair
12.9 million ounces of gold at $906 per ounce, as I write, is slightly less than $12.4 billion. The Chinese would buy $12.4 billion in gold with a telephone call.

Central banks would be willing to buy twice or even ten times that amount.

How foolish the IMF and Gordon Brown have been in gold. Both sold to major buyers at historic lows in price. Brown sold at $248 and the IMF started their sales at $106 in the 70s.

What in the world are you worried about?

Their sales at any amount will, as in the past, be an enduring monument to their lack of acumen in knowing the gold price.

In fact they are both the two dumbest gold haters that exist.

What are you worried about? Listen to your intellect, not your emotions.

IMF gold available for sale is worth less at $906 than 1% of the amount of monetary stimulation done by the US Fed and the US Treasury.

Credit Suisse says that most economists on the street which have been ridiculously bearish on China, and Wall Street as well as brokers worldwide will have to change their tune. This is only happening after China has rallied 30% in the last few months. China has bought massive amounts of industrial minerals worldwide and will buy gold if and when the IMF sells.

China’s GDP will grow at least 8% in 2009 and faster in 2010. This leaves the rest of the shrinking developed world in the dust.

Courtesy: Jim Sinclair's MineSet

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