India FinMin: "Demand For Gold Must Be Moderated"
As we wondered out loud yesterday, many have questioned the disconnect between increasingly burgeoning central bank balance sheets and money printing and the range-bound trading in Gold. It seems the first real hint of why is peeking through as the Economic Times reports the Indian government are growing increasingly concerned at the rate of gold imports. As the India Finance minister stated: "Demand for gold must be moderated... We may be left with no choice but to make it more expensive to import gold. The matter is under government consideration." Gold imports are playing a major part in India's record high current-account deficit (at $20.2bn for the period April to September), down 30.3% YoY thanks to a doubling of the customs duty on standard gold bars (to 4%). It seems the Indian powers-that-be are learning from their US and European leaders that if something is happening in a free-market that threatens the status quo even modestly - crush it with regulation and centrally-planned control. As the article goes on to note, currently, the government is also making efforts to channelise investor money into equities and other financial instruments to reduce demand for the yellow metal.
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Translated.........the banksters told the Indian government to throttle its peeps from taking possession
The only truly rich people on the planet will be the Indians.....we can't have that.
Hmm.. if gold is not capital or rather, if gold is not money, why would government see any need to moderate such a relatively useless material?
The banks have a better chance of achieving peace in the middle east then culling India's appetite for gold.
“Hmm.. if gold is not capital or rather, if gold is not money, why would government see any need to moderate such a relatively useless material.”
Answer:
Chris Powell Knows
http://www.youtube.com/watch?v=T0jpso4jDC4 at 16:30 and PARTICULARLY AT 18:00
Gold or Rupees. Sounds pretty simple to me...
MUST...CRIMINALIZE...GOLD...GUNS...NATURAL FOODS...FREE THINKING... BREAK THE INDIVIDUAL...ALL BOW DOWN BEFORE THE ALMIGHTY STATE!!!!! "If you want a vision of the future, imagine a boot stamping on a human face - forever."-- George Orwell
but I thought Merica was free???
Only global economic totalitarianism can keep gold down forever.
So guess what?
Global totalitarianism will grow until uneasy cooperation breaks down, then war.
Maybe freedom can only exists interstitially between wars?
Freedom was like a season. Say goodbye to the summer.
Keep stacking while you can, boys and girls.
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. ... This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." - Alan Greenspan [pre-corruption]
Greenspan's role model was Darth Vader. After Easy Al saw the first Star Wars movie, and realized the dark side would give him money, power, and sexy women, he flipped faster than a DRAM cell.
Sexy women?
All that evil and all he got was Andrea Mitchell?
I recall Greenspan saying on CNBC Squawk Box (within the last 4 or 5 years) that LIBOR was the best way to gauge the health of the economy!
LIBOR!!!
Greedspan reminds me of a tricky CFO I used to know. He said: 'I'll put on any CD to play the song that needs to be played for any given situation."
The Indian government has change very little from "the old good colonial times". It still treats its own people as slaves. India ruling faces did change after India became independent but the substance stays the same.
Agree. RBI officials are "brainwashed in UK d.o.c." brews. Despicable.
Yup, met plenty of their 'brightest' in the LSE crowd. Their equally smart pals went to 'Oxbridge', or the usual US universities (Ha'vard, MIT, Standforit, Chicago). Best places in the world for Keynesian and NWO edumacation. ;-/
"Move along now, nothing to see hear folks"
"Gold imports are playing a major part in India's record high current-account deficit" - They don't seem to comprehend that Gold imports do not contribute to deficits as Gold is Value
Central bankers say whatever they need to say to continue the ponzi. The fact that their population is winning by not joining in is just pissing them off even more.
-They don't seem to comprehend that Gold imports do not contribute to deficits as Gold is Value.-
Ha. Yeah, exchange of "money" for Money.
Nudge nudge, wink wink, buy no more.
It will never work. We will just pay more to buy more. We will be ready for the end game.
India (if you count private individual holdings) owns far more gold than any other country. India has centuries more experience owning gold than the US does.
It may be that We could learn from THEM. As individuals, each of us should buy physical gold. While it is still relatively cheap.
Yes they own more private gold than Eurozone and USA public holdings combined. 18 000 tons
India (if you count private individual holdings) owns far more gold than any other country. India has centuries more experience owning gold than the US does.
It may be that We could learn from THEM. As individuals, each of us should buy physical gold. While it is still relatively cheap.
DoCHen,
Right on last estimate was Indian CITIZENS owned over 22,500 TONS.
Gold is to India what guns are to the US.
The woman in India are rushing to buy guns. Better safe than sorry.
"Hundreds of women in Delhi have applied for gun licences following the gang rape and murder of a 23-year-old woman by six men in a bus in the city last month.
The news underlines the widespread sense of insecurity in the city, deep before the incident and deeper now, and the lack of faith in law enforcement agencies."
http://www.guardian.co.uk/world/2013/jan/01/indian-bus-rape-delhi-rush-guns
Do you have any idea how silly reporting "hundreds" is in a city with 16M people?
Why settle for millions, when you can have thousands!
The news underlines the widespread sense of insecurity in the city, deep before the incident and deeper now, and the lack of faith in law enforcement agencies."
Oh, Lord,not another Mexico.
Deoderant is to India what rupees are to the USSA.
But if it were iPhones........?
Our citizens are importing too much money!!!!
Our serfs are abandoning our fiat!
Last time i checked the Indian populace had in the region of 24,000 TONS of Gold. Stable door, horse bolted?
There probably isn't any better way to persuade people to buy gold.
Or to encourage smuggling
Gold smuggling to India has a long history.
One of the main reasons Dubai prospered originally
Deodarant use in India has no history in India. It's a market their for the taking. $$$$$
Curb your enthusiasm
http://tradewithdave.com/?p=14340
"..the government is also making efforts to channelise investor money into equities and other financial instruments to reduce demand for the yellow metal." Fishing for muppets.
With dynamite.
Obey...work...obey...save...obey...pay taxes...obey...
is "channelize" even a word, or are those guys just making shit up again?
channelize is to channel what analyze is to anal
BGO....
There is no "z" in channelies.
The word decribes how the gooberment channels money to markets instead of gold with Lies
"Channelies".
Fuck Bernanke and his Indian counterpart!
hey india try silver,the other gold!