Tim Jones
In 2007 the International Monetary Fund (IMF) was in financial crisis. Income from the interest charged on the money it lends had dried-up. During the 2000s, countries such as Argentina, Brazil and Thailand paid off their debts, scarred by the free market economic conditions forced upon them in previous years.
The governments which run the international institution decided to sell 400 tonnes of its gold, and invest the proceeds to get a new income. The gold has just finished being sold, and with prices reaching record highs, the IMF has a windfall of almost $3 billion.
