2006-05-18:  Foundation to Contract for Future Sale of Gold

Nobody in their right mind should want to convert gold into paper currency right at this moment in time because it is getting to be increasingly obvious that the world will have to return to gold-backed, value-based currencies as they existed throughout history prior to the Bretton Woods Agreement.

Despite the observation above, the Foundation is now willing to forego the opportunity cost of future price increases on a portion of its gold holdings in an arrangement to be made with one and only one fortunate buyer.  Why “fortunate”?  Because the size this buyer will want to transact is simply NOT AVAILABLE anywhere else in the world.  AND because the buyer is able to lock in today’s prices, which will probably be substantially lower than where prices will go in the time between now and when the gold can be made available.