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India FinMin: "Demand For Gold Must Be Moderated"

Tyler Durden's picture




 

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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Wed, 01/02/2013 - 10:20 | 3114619 kliguy38
kliguy38's picture

Translated.........the banksters told the Indian government to throttle its peeps from taking possession

Wed, 01/02/2013 - 10:26 | 3114634 GetZeeGold
GetZeeGold's picture

 

 

The only truly rich people on the planet will be the Indians.....we can't have that.

Wed, 01/02/2013 - 10:42 | 3114670 Manthong
Manthong's picture

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?

Wed, 01/02/2013 - 10:48 | 3114687 Pladizow
Pladizow's picture

The banks have a better chance of achieving peace in the middle east then culling India's appetite for gold.

Wed, 01/02/2013 - 10:49 | 3114690 Manthong
Manthong's picture

“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

Wed, 01/02/2013 - 11:10 | 3114778 strannick
strannick's picture

Gold or Rupees. Sounds pretty simple to me...

Wed, 01/02/2013 - 12:16 | 3114969 Buckaroo Banzai
Buckaroo Banzai's picture

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

Wed, 01/02/2013 - 12:16 | 3114970 trav777
trav777's picture

but I thought Merica was free???

Wed, 01/02/2013 - 12:57 | 3115024 Supernova Born
Supernova Born's picture

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.

Wed, 01/02/2013 - 10:54 | 3114713 CH1
CH1's picture

Keep stacking while you can, boys and girls.

Wed, 01/02/2013 - 10:32 | 3114644 Pool Shark
Pool Shark's picture

 

 

"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]

 

Wed, 01/02/2013 - 11:55 | 3114925 FrankDrakman
FrankDrakman's picture

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.

Wed, 01/02/2013 - 13:24 | 3115079 Supernova Born
Supernova Born's picture

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!!!

Wed, 01/02/2013 - 14:13 | 3115393 AgAu_man
AgAu_man's picture

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."

Wed, 01/02/2013 - 11:36 | 3114862 caconhma
caconhma's picture

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.

Wed, 01/02/2013 - 11:56 | 3114927 giovanni_f
giovanni_f's picture

Agree. RBI officials are "brainwashed in UK d.o.c." brews. Despicable.

Wed, 01/02/2013 - 14:24 | 3115439 AgAu_man
AgAu_man's picture

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. ;-/

Wed, 01/02/2013 - 10:23 | 3114628 Sheeple Shepard
Sheeple Shepard's picture

"Move along now, nothing to see hear folks"

 

Wed, 01/02/2013 - 10:23 | 3114629 Azannoth
Azannoth's picture

"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

Wed, 01/02/2013 - 11:15 | 3114796 Quinvarius
Quinvarius's picture

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.

Wed, 01/02/2013 - 15:49 | 3115795 formadesika3
formadesika3's picture

-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.

Wed, 01/02/2013 - 10:24 | 3114630 LeisureSmith
LeisureSmith's picture

Nudge nudge, wink wink, buy no more.

Wed, 01/02/2013 - 10:25 | 3114633 monopoly
monopoly's picture

It will never work. We will just pay more to buy more. We will be ready for the end game. 

Wed, 01/02/2013 - 10:26 | 3114635 DoChenRollingBearing
DoChenRollingBearing's picture

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.

Wed, 01/02/2013 - 10:39 | 3114663 zilverreiger
zilverreiger's picture

Yes they own more private gold than Eurozone and USA public holdings combined. 18 000 tons

Wed, 01/02/2013 - 11:39 | 3114874 DosZap
DosZap's picture

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.

Wed, 01/02/2013 - 10:25 | 3114637 fonzannoon
fonzannoon's picture

Gold is to India what guns are to the US.

Wed, 01/02/2013 - 10:28 | 3114646 dobermangang
dobermangang's picture

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

Wed, 01/02/2013 - 10:48 | 3114688 GMadScientist
GMadScientist's picture

Do you have any idea how silly reporting "hundreds" is in a city with 16M people?

 

Wed, 01/02/2013 - 11:01 | 3114743 darteaus
darteaus's picture

Why settle for millions, when you can have thousands!

Wed, 01/02/2013 - 11:58 | 3114933 DosZap
DosZap's picture

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.

Wed, 01/02/2013 - 11:00 | 3114739 Jugdish
Jugdish's picture

Deoderant is to India what rupees are to the USSA.

Wed, 01/02/2013 - 10:26 | 3114641 Kina
Kina's picture

But if it were iPhones........?

Wed, 01/02/2013 - 10:27 | 3114642 blabam
blabam's picture

Our citizens are importing too much money!!!!

Wed, 01/02/2013 - 10:58 | 3114732 darteaus
darteaus's picture

Our serfs are abandoning our fiat!

Wed, 01/02/2013 - 10:27 | 3114643 Sheeple Shepard
Sheeple Shepard's picture

Last time i checked the Indian populace had in the region of 24,000 TONS of Gold. Stable door, horse bolted?

Wed, 01/02/2013 - 10:30 | 3114647 Central Wanker
Central Wanker's picture

There probably isn't any better way to persuade people to buy gold.

Wed, 01/02/2013 - 10:35 | 3114657 Cookie
Cookie's picture

Or to encourage smuggling

Wed, 01/02/2013 - 10:40 | 3114666 DoChenRollingBearing
DoChenRollingBearing's picture

Gold smuggling to India has a long history.

Wed, 01/02/2013 - 10:44 | 3114679 Cookie
Cookie's picture

One of the main reasons Dubai prospered originally

Wed, 01/02/2013 - 10:55 | 3114722 Jugdish
Jugdish's picture

Deodarant use in India has no history in India. It's a market their for the taking. $$$$$

Wed, 01/02/2013 - 10:30 | 3114649 tradewithdave
tradewithdave's picture

Curb your enthusiasm

http://tradewithdave.com/?p=14340

Wed, 01/02/2013 - 10:32 | 3114652 Sheeple Shepard
Sheeple Shepard's picture

"..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.

Wed, 01/02/2013 - 10:50 | 3114699 GMadScientist
GMadScientist's picture

With dynamite.

Wed, 01/02/2013 - 10:55 | 3114717 darteaus
darteaus's picture

Obey...work...obey...save...obey...pay taxes...obey...

Wed, 01/02/2013 - 10:34 | 3114655 BGO
BGO's picture

is "channelize" even a word, or are those guys just making shit up again?

Wed, 01/02/2013 - 10:41 | 3114668 Dr Benway
Dr Benway's picture

channelize is to channel what analyze is to anal

Wed, 01/02/2013 - 13:02 | 3115066 Bansters-in-my-...
Bansters-in-my- feces's picture

BGO....

There is no "z" in channelies.

The word decribes how the gooberment channels money to markets instead of gold with Lies

"Channelies".

Wed, 01/02/2013 - 10:35 | 3114656 Mad Mohel
Mad Mohel's picture

Fuck Bernanke and his Indian counterpart!

Wed, 01/02/2013 - 10:36 | 3114660 caimen garou
caimen garou's picture

hey india try silver,the other gold!

Wed, 01/02/2013 - 11:44 | 3114887 DosZap
DosZap's picture

hey india try silver,the other gold!

They are loading the wagon with that also.

Wed, 01/02/2013 - 10:43 | 3114673 XtraBullish
XtraBullish's picture

Short cash = long gold

 

Wed, 01/02/2013 - 11:07 | 3114748 Anasteus
Anasteus's picture

Short cash = buy physical

corrected it for you

Wed, 01/02/2013 - 10:44 | 3114676 Anasteus
Anasteus's picture

Gold and silver are the only 'goods' that have to be moderated... which explains all.

Thanks to the concerted efforts the governments guarantee PM’s stable growth at moderate pace without the risk of entering a bubble phase. What else can enjoy such a privilege?

Wed, 01/02/2013 - 10:45 | 3114681 yogibear
yogibear's picture

Bernanke and the US Federal Reserve banksters keep printing until a currency crisis, then a new world currency. 

It's the plan.

Wed, 01/02/2013 - 10:57 | 3114727 tango
tango's picture

No, that is not the "plan".  (Where do these ideas originate?)  They are simply acting out of habit, intertia being the biggest driver.   The FED knows how to print money and so it does - no dark mystery or conspiracy needed.  All central banks believe that printing money, increasing inflation, raising securities and prices will get them through until the next crisis when they will do variations on a theme.

Wed, 01/02/2013 - 10:49 | 3114695 GMadScientist
GMadScientist's picture

Funny that Inida didn't conclude that they need to increase their exports to fix their current account deficit.

Wed, 01/02/2013 - 14:49 | 3115523 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1 for a good observation.

But who wants to buy anything BIG from India?  Not bearings...

Wed, 01/02/2013 - 10:51 | 3114705 debtor of last ...
debtor of last resort's picture

Fascism, fascism everywhere. So many fascists, so little rope.

Wed, 01/02/2013 - 10:54 | 3114718 DowTheorist
DowTheorist's picture

It irks the Indian Government because Indians know how to tell the difference between paper gold and physical gold. If Indians were buying securitized (paper) gold, everything would be fine.

Westerners should be able to distinguish between the two kinds of gold. More about each kind of gold and the time frames where they belong:

 

http://www.dowtheoryinvestment.com/2012/10/not-all-gold-is-born-equal-go...

Wed, 01/02/2013 - 10:56 | 3114723 negative rates
negative rates's picture

It wouldn't as much of a concern if peoples hearts were not filled with, tungstun.

Wed, 01/02/2013 - 11:03 | 3114746 Quinvarius
Quinvarius's picture

Is this guy trying to scare everyone INTO gold all at the same time?

Wed, 01/02/2013 - 11:10 | 3114777 jonan
jonan's picture

been stackin since 08, but i have to say, i made more money on the pmags i've been stackin since 08 than gold and silver in 2012...no matter, keep stackin AND packin...$12 pmags going for $30-$40 bucks...bulletz biotchez!!!

Wed, 01/02/2013 - 11:14 | 3114789 steve from virginia
steve from virginia's picture

 

Stupid Bank of India!

 

India needs to end petroleum subsidies. These pressure the balance sheet far more than does gold imports.

 

http://www.iea.org/publications/freepublications/publication/petroleum_p...

 

Fuel subsidies amount to approximately 10% of Indian GDP.

Wed, 01/02/2013 - 11:22 | 3114818 MFLTucson
MFLTucson's picture

 "Demand for gold must be moderated... We may be left with no choice but to make it more expensive to import gold

Just follow what this courrpt cardel does in America if you want prices to moderate.

Wed, 01/02/2013 - 11:27 | 3114831 AndrewJackson
AndrewJackson's picture

Just when I think I can't hate these central planning psychopaths any more than I allready do, they go and do something like this. Heaven forbid your citizens build true wealth that can't be corzined overnight.

Wed, 01/02/2013 - 11:30 | 3114842 kito
kito's picture

They should be more concerned with keeping dysentery moderated......it would better serve the country's interests.........

Wed, 01/02/2013 - 11:41 | 3114876 FubarNation
FubarNation's picture

You know I've been starting to question my PM purchases. 

Yes I made my yearly EOY purchase of physical but somehow I just didn't feel right about it this year.

Perhaps it is the preponderance of 'Reality' gold mining shows that are on the air - I'm not sure.  Just have this pit of uncertainty feellng in my stomach - never really had it before.

 

The only thing that keeps my faith is that most of the public still has not yet jumped on the PM bandwagon from what I can see.

 

YMMV.

Wed, 01/02/2013 - 11:52 | 3114914 tradewithdave
tradewithdave's picture

That's the whole point.  The TV shows are about physical while the advertisements are about ETF's.  The sheeple don't know difference and the new system is going to be based on a fractional reserve of physical, but it will never be audited.  So, yes your sense is right... there's a problem creating scarcity when you can't audit or limit rehypothecation.  So, in terms of dollars, you don't control it and your sense is then you shouldn't buy it.  That would be accurate if gold is priced in dollars. 

When and if dollars are priced in gold, capital controls are implemented, buying and selling of gold is outlawed or constrained, then it will be too late.  The whole idea is to support paper gold as an idea until they don't need it anymore.  The question is do you have the same sense about silver that you feel about gold?  If silver equates to gold at a proportion between 50:1 and 16:1, then why don't central banks use silver and gold interchangably, especially if silver was part of the history of coin minting?  Is it because silver gets used and gold does not? 

www.tradewithdave.com

Wed, 01/02/2013 - 11:54 | 3114921 Quinvarius
Quinvarius's picture

When they start turning a profit on those shows instead of losing their shirts, then maybe.

Wed, 01/02/2013 - 12:01 | 3114938 DosZap
DosZap's picture

Yes I made my yearly EOY purchase of physical but somehow I just didn't feel right about it this year.

Perhaps it is the preponderance of 'Reality' gold mining shows that are on the air - I'm not sure. Just have this pit of uncertainty feellng in my stomach - never really had it before.

Why the neg feelings(seemingly), watching those makes me all the respectful of how damned expensive it is to get out of the ground, and the Printing presses are full tilt boogie WorldWide.

That should be enough to allay your fears.

Wed, 01/02/2013 - 14:54 | 3115545 DoChenRollingBearing
DoChenRollingBearing's picture

EXCELLENT point DosZap!  I sometimes forget that gold "does not come from the coin shop", LOL.  Gold mining is expensive, capital intensive and risky (mines are at risk of being nationalized).

Money growth is much faster than gold production growth.  At some point, that reality will kick in...

Wed, 01/02/2013 - 12:44 | 3115019 Dr Benway
Dr Benway's picture

My hesitation comes from seeing gold behave like a risk asset. Very unsettling. But I am comforted by seeing lots of Cash4Gold places and no buying bandwagon by the public.

Sat, 01/05/2013 - 17:08 | 3125707 MeelionDollerBogus
MeelionDollerBogus's picture

Which asset is not a risk asset? How does that ‘asset’ behave?

Wed, 01/02/2013 - 11:55 | 3114923 Bastiat009
Bastiat009's picture

The best way to moderate demand is to let the market work .. higher prices will moderate demand but it will also expose the Obama-led USA as a fraudster/terrorist country.

Wed, 01/02/2013 - 12:13 | 3114962 rufusbird
rufusbird's picture

I suggested on the 20th of December when Silver dropped below $30, that the sell off in Silver may have been tax motivated selling. Reprinted below. Looks like it recovered plus some already today.

"I suspect that if some were wanting to lock in some profits on gold and silver they would rather be doing it in December than in the new year. Tax motivated selling providing a buying opportunity?"

http://www.zerohedge.com/news/2012-12-20/gold-and-silver-paulsond-again#...

 

Wed, 01/02/2013 - 12:16 | 3114971 q99x2
q99x2's picture

They put chips in their citizens and teach them poor English too. The NWO eugenicists are experimenting over there.

Wed, 01/02/2013 - 12:30 | 3114994 Marigold
Marigold's picture

Send Blue Pill there to investigate !

Wed, 01/02/2013 - 12:33 | 3114998 Aztec Warrior
Aztec Warrior's picture

I am a middle class Indian.

My family only owns about 10 - 15 ounces of Gold - $50k- which in india can sustain you for about 5 years on a strict budget for a faimly of 3-4.

Gold has been the only traditional hedge against devalued fiat currency. Sadly Uncle Bernanke and company are playing casino on Gold too (like all commodities) and true nature of Gold as a monetary unit is being hidden from people by casting gold as a mere commodity like oil and beans

Wed, 01/02/2013 - 12:39 | 3115008 Dr Benway
Dr Benway's picture

10-15 ounces equal $50K? Are you writing from the future? Otherwise I have some bad news for you...

Wed, 01/02/2013 - 12:49 | 3115034 Aztec Warrior
Aztec Warrior's picture

My bad - its $25k

Average Indian woman gets about 100 grams (3 troy ounces) at her wedding.

About the same is accumulated over your married life + same saved up for your kids

So 15 oz @$1700 per oz ->  25.5k

 

 

 

 

Wed, 01/02/2013 - 13:00 | 3115083 Dr Benway
Dr Benway's picture

But doesn't 3+3+3=9 and not 15?

 

;)

Wed, 01/02/2013 - 12:42 | 3115016 Bansters-in-my-...
Bansters-in-my- feces's picture

Can't have your citizens buy commodities now can we.....

Commodities being illegal and all.

 

Ps....Fuck you's timmy and ben.

Wed, 01/02/2013 - 13:56 | 3115295 lemonobrien
lemonobrien's picture

at least they're importing gold rather than cheap plastic from china.

Wed, 01/02/2013 - 14:05 | 3115348 Herdee
Herdee's picture

"We didn't see it comin"

Wed, 01/02/2013 - 14:52 | 3115530 supermaxedout
supermaxedout's picture

Basel III the game changer for gold

http://www.bdlive.co.za/business/financial/2012/12/19/south-africa-ready...

You can read there:

"The number of member jurisdictions that have published the final set of Basel III regulations effective from the start date of January 1, 2013 is 11. These includes  Australia, Canada, China, Hong Kong SAR, India, Japan, Mexico, Saudi Arabia, Singapore, South Africa and Switzerland," the committee said.

"Seven other jurisdictions — Argentina, Brazil, the European Union, Indonesia, Korea, Russia and the US — have issued draft regulations, and have indicated they are working towards issuing final versions as quickly as possible. Turkey will issue draft regulations early in 2013," it said.

Some major banks in Europe and the US have however said they would not be able to meet next month’s deadline (1.1.2013) for capital reforms but the Basel Committee has insisted this would not derail their implementation.

Stefan Ingves, chairman of the Basel Committee said last week: "While some jurisdictions have not been able to meet the planned start date, a large number will be ready to begin introducing the new capital requirements as planned on January 1 2013."

----------------------------

And this means already now gold is not anymore a commodity but M O N E Y. The Basel III rules (published by the BIS Bank of Intl. Settlement in Basel Switzerland)  which is setting the worldwide standard for the banking community have moved gold up in the value ladder by.1.1.2013. It does not matter that it is till now only effective in the first group of the jurisdictions.  The effect that gold is regarded in Australia, Canada, China, Hong Kong SAR, India, Japan, Mexico, Saudi Arabia, Singapore, South Africa and Switzerland as hard stable cash, which is the highest quality of capital, equal with US Dollars, Treasuries, German Bunds etc.  is breaking the damm.  Gold can now be purchased at will by the banks in these jurisdictions in order to diversify their capital holdings without the till 31.12.2012 obligatory 50% value discount to the market price.  The banks in these jurisdictions can now accumulate gold without their capital base being harmed.  The earlier they do it, the more their capital base can benefit from this move..

And these expected gains are absolute necessary to hold the balance sheets of the banks together, because at the same time the new Basel III rules say, that (dont laugh) Asset Backed Securities which were also regarded as first class capital (Tier I)  till 31.12.2012 have lost their status and can not anymore be regarded as capital at all.

Imagine at the same time Japanese Souvereign bonds would loose two notches  from AAA to AA- meaning the value of these bonds (under the present BIS capital rules) would automatically be reduced by 20% in the banks balance sheet. Its not unrealistic that this is going to happen within the next 12 months.  So the banks in Japan and all over the world need a lot of "gold windfall profit" to cover their ass from these losses. And  there is no other "safe haven asset" anymore which is having the potential to move upward. Dollars and treasuries are at best moving sidewards if not downwards.

So whats left.  not much. It seems to me that the time of the gold mania is "ante portas". Insofar I can understand the IndFinMin. If nothing happens then the new gold rush can destroy the  old fiat world within a matter of days.   But you know what, nothing can stop this thing in my opinion. Be it now or in the next 12 to 24 months. The financial world has to find a new equilibrium to function. Now everything is stuck and out of balance and in my opinion the things are going its way they have to go.

 

Wed, 01/02/2013 - 14:52 | 3115536 Herdee
Herdee's picture

There's only one true way to beat the manipulation of prices in the gold and silver markets by governments and central banks.That method of stopping it is very simple.Strong physical demand of the commodity that holds long term.As the screw gets tightened the next step could very well be panic buying.Personally,one of the chief reasons I buy precious metals and take physical possession is because I hate corrupt politicians.As you know,we just rent them,until the next overpaid gang of crooks come into power to screw things up even worse than the last gang of thieves.

Wed, 01/02/2013 - 15:10 | 3115544 AgAu_man
AgAu_man's picture

How many times do I have to tell you, boys & girls:

"It's ALL about preventing the CB fiat dominos from falling prematurely, i.e. pre-NWO-schedule. Till then they all have to circle the big money-drain together."

Until the BoE and the Fed are damn good and ready, the other CB members will just have to toe the line.

Q: When will that be?
A: When they are satisfied with their NWO land-grab in key parts of the world. This is WIP, in case you're not following those headlines.

End of story.

The REAL question for the non-deluded, the non-hopium people, is how you are preparing and executing the comprehensive plans for your family and community.
Chances are, you'll need both to survive and thrive.

Wed, 01/02/2013 - 17:44 | 3116336 Overflow-admin
Overflow-admin's picture

Well if it's only 4% to get your gold passed, you better pay because soon or later the usual pundits will ban imports or domestic sales.

 

Any questions?

 

Closer reference: Argentina, 2012 (sept 13th)

Thu, 01/03/2013 - 02:07 | 3117844 resurger
resurger's picture

And thats the plan all along, i read on bloomberg that the recovery is pushing the yellow metal price down.. what a fucking bullshit

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