Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

And The First Thing Ukraine Will Buy With IMF Money Is…

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Zero Hedge
May 6, 2014

A month ago, it was alleged, that Ukraine – under cover of night – loaded its gold reserves onto a plane and shipped them off (for safekeeping) in the US, as the potential price of ‘liberation’. So how ironic that, given the massive gas debts that Ukraine owes to Russia (and prepayments pending), and sizable bond maturities pending, the first thing that Ukraine’s National Bank governor will be buying with his freshly minted loan from the IMF is… buy a billion dollars of gold.

We presume Gazprom still gets its payment and bondholders get paid off – because that seriously impair ‘investor confidence’ which is, as they note below, is what is crucial to stabilize the nation’s economy… but it seems the Central bank has other priorities…

As ITAR-TASS reports,

Kiev will use the first portion of the International Monetary Fund (IMF) loan for augmenting its gold and currency reserves in order to stabilize the financial situation in the country, National Bank Chairman Stepan Kubiv said on Monday, May 5.

Over $1 billion from the first portion of the loan will go into the gold and currency reserves of Ukraine, which will strengthen the financial system of the country. The remainder will go to the budget to stabilize the macroeconomic and financial situation in Ukraine,” he said.

Kubiv believes that the IMF loan “will send a positive signal to foreign investors and domestic entrepreneurs, improve the investment climate in the country and stabilize the hryvnia”.

On April 30, the IMF Board of Governors approved a two-year standby credit facility of $17 billion for Ukraine. The first portion will amount to around $3.2 billion.

What is odd is that Ukraine’s gold reserves have been soaring in recent years – so it’s hardly been a confidence-inspiring move for Ukrainian entrepreneurs and foreign investors so far?

And The First Thing Ukraine Will Buy With IMF Money Is... 20140506 gold1 0

So the big question we are left wondering is – whether all the IMF is doing is “giving” Ukraine money so it can buy gold as proxy for the NY Fed…
with that next batch of gold also set to be confiscated by the Fed and shipped off to Germany (and maybe even Switzerland) to cover their growing repatriation demands.

One wonders if this news has anything to do with the fact that since the approval of the IMF “loan” gold has had its best 2 days in 4 months…

And The First Thing Ukraine Will Buy With IMF Money Is... 20140504 EOD8 0

This article was posted: Tuesday, May 6, 2014 at 12:41 pm





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
James Foley Beheading: What They're Not Telling You See the rest on the Alex Jones YouTube channel.

CDC Reports On Safety Breach with Bird Flu Virus See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.