Kurt Nimmo
Infowars.com
September 29, 2011
Gold and silver are rebounding in response to the worsening eurozone debt crisis, a falling dollar and increased oil prices.
Spot gold was at $1,649.09 an ounce today and remained unchanged from levels in late New York trading on Tuesday.
The rise occurred after a staggering $120 price drop on Monday. The precipitous decline sent many investors scrambling. The hit came after a never-before-seen $120/day intraday event on September 23.
On Wednesday, safe haven gold moved higher despite ongoing talks among EU and IMF bureaucrats about how to address the sovereign debt crisis.
The globalists are calling for more direct involvement in the crisis by the IMF.
Bill Rhodes, a former top Citibank executive and an architect of the Asian and Latin American financial restructurings in the 1980s and 1990s, told the Wall Street Journal on Tuesday stronger IMF leadership will correct the rapidly deteriorating debt crisis.
The IMF has called for more commitment – bailouts – from industrialized nations to fund their over-stretched loan sharking kitty. Republicans have rejected the call for more money to bailout distressed European banks.
The United States currently contributes 17.7 percent of the IMF’s funding, the largest share of any nation.
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