India's Invincible Love Story With Gold

Tyler Durden's picture




 

Despite the government's ongoing efforts to cut gold imports - aimed at closing a widening current account deficit among other status-quo-questioning factors, the following brief clip from Bloomberg TV sums it all up perfectly - For this country of over one billion, "Gold is, was, and always wlll be... money." And now, following import bans and higher taxes, the government is considering restrictions on the holiest of holies - wedding gifts, and "legislating against love."

 

By trying to discourage gold-buying, India's government is trying to roll-back centuries of tradition ("and an abiding love for the world's only enduring currency") and has created a major black-market for the precious metal...

 

 

 

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Thu, 01/02/2014 - 18:55 | 4294653 I am Jobe
I am Jobe's picture

Amerika loves IAPPS.

Thu, 01/02/2014 - 18:56 | 4294660 Mark Carney
Mark Carney's picture

GOLD!!!!!!!!!!!!!!!!! They got it

Thu, 01/02/2014 - 18:55 | 4294668 NotApplicable
NotApplicable's picture

So... what's taking TPTB so long to get the war with Pakistan going?

Thu, 01/02/2014 - 19:13 | 4294713 Dear Infinity
Dear Infinity's picture

Too busy being champagne socialists celebrating in Mercedez Benz. Soon the premiums will rise with the demise of New Years lies. Peasants despise oligarchs, guys.

Thu, 01/02/2014 - 20:31 | 4294943 Tippoo Sultan
Tippoo Sultan's picture

Only 22 karat will do, for a Maharani...

Adorn yourself.

Fri, 01/03/2014 - 08:10 | 4296007 GetZeeGold
GetZeeGold's picture

 

 

Gold was once illegal in America for a short time.....but then again so was alcohol.

 

Supposedly we're suppose to be the beacon of freedom.

 

Did you guys get your mandatory health insurance yet? It's wicked expensive.....but it's also the law.

Fri, 01/03/2014 - 00:33 | 4295619 Soul Glow
Soul Glow's picture

Because their military is badass and it would be another war where the MIC would get their asses handed to them.  The US can't afford it, psychologically and monetarily.

Thu, 01/02/2014 - 19:00 | 4294675 666
666's picture

They gotta punish the Indians because they're intelligent enough to know what real money is.

Sheesh!

Thu, 01/02/2014 - 20:04 | 4294851 Lets Buy The Dip
Lets Buy The Dip's picture

yup the elite are buying gold up by the ton, so they want it cheap. But look at the chart....wow. 
.
What is taking my interest is GOLD CHART HERE => http://bit.ly/1arJATL

It seems, and I am taking a guess is that GOLD might be where you want to be in 2014, MONTHLY, WEEKLY, daily all starting to turn. Last time this happen OMG, we shot up like a gyfox night.

Thu, 01/02/2014 - 20:06 | 4294855 Ignatius
Ignatius's picture

Watch for Bollywood to start making films with women wearing Indian Rupees or dollar bills around their necks.

Fri, 01/03/2014 - 03:55 | 4295865 satoshi101
satoshi101's picture

Best comment today.

I think that India is fucked, a lot like Japan, too many USA economists telling them what to do, ... their currency is collapsing the solution is to BAN or STEAL the gold, ... fucking goes to show you that their nation is still a British fucking colony.

***

INR is in fucking free-fall, and the people want GOLD, where have we seen this before? Think USA 1933,... or USA 1972

India will follow IMF(USA) advice, and fuck its own people and then a new government,

Question: Why is the CIZ engineering a ARAB spring in INDIA? Next to be China, its like the USA can't win, unless it brings it competitor nations to their knees.

You can be sure the OPPOSITION party in India that will SUPPORT GOLD is a CIA operative.

Classic CIA, create a problem and then offer a solution.

 

Thu, 01/02/2014 - 22:00 | 4295222 PT
PT's picture

I'll say it again.  (Sorry for boring those who have seen it before.  Feel free to beat me to it and say it for me) :  

They do not ban gold to stop it from coming into the country.  They ban gold so they can take it without paying for it.

Fri, 01/03/2014 - 04:46 | 4295886 Zero Point
Zero Point's picture

Gotta hand it to the Indians though. Centuries of different corrupt governments coming and going, various conquerers thrown in, and those guys still seem to have their mitts on it.

They must have some seriously shitty boats over there.

Can't say the same for China alledgedly... Apparently Chiang Kai Shek took shit loads of Chinese gold out with him to Taiwan, and then handed it over to the US as protection money.

Can't find the link for the handover to the US, but squint your eyes and read between the lines a little....

http://guanyu9.wordpress.com/2010/06/06/how-chiang-spirited-china%E2%80%...

I wonder if now, some deal has been made to reinstate that gold, and the effects are what we see now in price manipulation?

Who can say... certainly not this little black duck.

Fri, 01/03/2014 - 10:53 | 4296405 merizobeach
merizobeach's picture

There's apparently plenty of gold in Taiwan.  The premium above spot is as little as US$20/oz from the government bank.

Thu, 01/02/2014 - 20:32 | 4294955 Jannn
Jannn's picture

MUST READ: Sun Zhaoxue: US Intends To Suppress Gold To Ensure Dollar’s Dominance

 

http://www.ingoldwetrust.ch/sun-zhaoxue-us-intends-to-suppress-gold-to-e...

Fri, 01/03/2014 - 03:30 | 4295802 13thWarrior
13thWarrior's picture

May I interest you in gold colored coins by Royal NSA Mint?

 

http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsa...

Thu, 01/02/2014 - 22:26 | 4295295 whatsinaname
whatsinaname's picture

Little news from the ground in India - the Aam Aadmi Party (common man's party) is the biggest news and could shake the political scene significantly. If they succeed watch out China - although its going to take a long long time mending years of neglect and despair.

On the other hand the current Fin Minister keeps saying on the news that the country already has enough gold and India does not need anymore. Go figure !!

As far as the economy, there is a sharp slowdown in progress in the auto sector and a loss of confidence as well. No wonder the AAP and Arvind Kejriwal is being seen as a messiah of some sort. Time will tell..

Thu, 01/02/2014 - 18:52 | 4294655 GVB
GVB's picture

When you zoom in, you can see the Bundesbank symbol on one of the bracelets

Thu, 01/02/2014 - 18:59 | 4294681 isudas
isudas's picture

They are bangles not bracelets, and you are far more likely to find a swastika then a Bundesbank symbol as the swastika is a common Hindu symbol. (The Nazis reveresed it when they used the symbol for their own.)

Thu, 01/02/2014 - 19:13 | 4294718 Bastiat
Bastiat's picture

No, they didn't reverse it: both a right turning and left turning swastika are ancient Hindu symbols.

Thu, 01/02/2014 - 21:55 | 4295210 Fred Hayek
Fred Hayek's picture

The true aryans.

Fri, 01/03/2014 - 03:49 | 4295858 TheLoveArtist
TheLoveArtist's picture

Quite true the Swastika is a revered Buddhist symbol, I guess NIRVANA always was a place with no JEWS

Thu, 01/02/2014 - 18:55 | 4294657 Al Huxley
Al Huxley's picture

If only they'd follow their benevolent government's directives and put more money in the bank, or even in paper gold derivatives.  But no, they insist on preserving wealth across generations instead of being good citizens and recycling it or turning it over to the elites running the casinos that are the capital markets.  Inconsiderate unwashed heathen masses...

Thu, 01/02/2014 - 19:05 | 4294693 Skateboarder
Skateboarder's picture

By the way, almost everyone in Kerala is literate. That's not a bunch of idiots standing in line to get in on the new jewellery store opening day deals - they know what's up...

Fri, 01/03/2014 - 02:28 | 4295798 ebworthen
ebworthen's picture

Yeah, not fat ugly chicks beating each other up to get into Victoria's Secret and pay $50 for $3 worth of lace.

Thu, 01/02/2014 - 19:44 | 4294798 RafterManFMJ
RafterManFMJ's picture

So the Indian government tells you what gifts you cannot give at a wedding party, and the US government blows them up with missiles... And you wonder why the kids don't want to get married today.

Thu, 01/02/2014 - 20:07 | 4294877 akak
akak's picture

If only they would also spend a bit of that gold to have somebody dig some latrines instead of shitting in their 'sacred' rivers and along most roadsides too.

Fri, 01/03/2014 - 04:58 | 4295894 Zero Point
Zero Point's picture

Man, I really don't get that shit. When I was a kid on the farm, we had an outhouse.

It was a real fancy one too, with a wooden box, and seat, and a pipe to carry off (alledgedly) the smells. Even had a moon shape carved in the door.

Is that some kind of hi tech state secret, how to build those?

Fuck me, I used to dig one for big family camps, until chemical toilets made it all a bit easier.

Sun, 01/05/2014 - 05:11 | 4301313 MeelionDollerBogus
MeelionDollerBogus's picture

more than a thousand years after Romans had heated baths & sewers, England still had none.
Just goes to show...

Fri, 01/03/2014 - 00:54 | 4295658 Tijuana Donkey Show
Tijuana Donkey Show's picture

Maybe they are sewing it into their clothes....

Sun, 01/05/2014 - 05:08 | 4301309 MeelionDollerBogus
MeelionDollerBogus's picture

pretty sure India took that to the next level. http://news.bbcimg.co.uk/media/images/66968000/jpg/_66968095_comp624.jpg

Thu, 01/02/2014 - 18:53 | 4294662 q99x2
q99x2's picture

Wouldn't that be a trip if India's government got toppled over the right to own gold.

Thu, 01/02/2014 - 19:13 | 4294711 garypaul
garypaul's picture

I am absolutely certain that is what will happen if the government tries to interfere with this tradition. They'll all be strung up the very same day, not even the next day. You can push a people up to a certain rubicon limit, and for Indians this is it.

Fri, 01/03/2014 - 07:17 | 4295959 KickIce
KickIce's picture

That's nothing, imagine if they confiscated i-products or TVs over here.

Thu, 01/02/2014 - 20:14 | 4294901 Ignatius
Ignatius's picture

It happened here in '33.  For what it's worth, we lost.

Thu, 01/02/2014 - 18:54 | 4294665 NIHILIST CIPHER
NIHILIST CIPHER's picture

The Indian people learned their lesson the hard way, that's why they must have zee gold. The population of India owns more gold than the IMF, US, EUROZONE and CHINA combined. That many people can't be wrong.  

Thu, 01/02/2014 - 19:12 | 4294710 saltedGold
saltedGold's picture

But imagine their shock when they find out they can't eat it! They need to hand their gold over to the banks where it belongs... it's tradition!

Fri, 01/03/2014 - 03:58 | 4295866 rsh00
rsh00's picture

It may be genetic. Honestly...I'm an indian...and when I saw the kind of gold on the bride, my mouth literally was watering. Go figure.

Fri, 01/03/2014 - 10:33 | 4296186 N2OJoe
N2OJoe's picture

I have a feeling when you live in a mud hut in the jungle, you're not too worried about finding things to eat when your financial system goes down.

 The royalty on the other hand... yeah they might starve.

Thu, 01/02/2014 - 18:57 | 4294673 Cognitive Dissonance
Cognitive Dissonance's picture

If the people of India love the barbarous relic then they must be barbarous.

<The proof is that they think Gold is money. The poor fools.>

/sarc

Thu, 01/02/2014 - 18:58 | 4294678 firstdivision
firstdivision's picture

Off topic: interesting note of "there is no inflation", was just at Target, and their large boxes of baby wipes that used to be 9 to a box, is now only 8 to a box. Funny yet, is they are still trying to use up their 9 pack size boxes, so the 8 packs are packaged awkwardly. Oh and no, the price isn't lower for less.

Thu, 01/02/2014 - 19:19 | 4294729 Bastiat
Bastiat's picture

It's a kind of "hedonic" adjustment: in this case the babies won't be eating as much so they won't need as many diapers.

Thu, 01/02/2014 - 19:00 | 4294682 JustObserving
JustObserving's picture

The NSA collects 13.5 billion pieces of intelligence from India every month.  That is enough to blackmail all the corrupt financial bureaucrats into obeying the Fed's commands.

Seymour Hersh reported that the former Prime Minister of India, Morarji Desai, was a CIA asset and on its payroll.  Morarji Deasi sued in a US court and lost.

Indians know that they cannot trust the fiat money of their corrupt bureaucrats.  So they have always owned gold and they own about 20,000 tons and probably more.

 

Among the BRICS group of emerging nations, which featured quite high on the list of countries targeted by the secret surveillance programs of the U.S. National Security Agency (NSA) for collecting telephone data and internet records, India was the number one target of snooping by the American agency.

 

the NSA managed to pick so much data from India — 13.5 billion pieces of information in just one month — especially from its telephone networks

http://www.thehindu.com/news/national/india-among-top-targets-of-spying-by-nsa/article5157526.ece


Thu, 01/02/2014 - 19:03 | 4294695 dogbreath
dogbreath's picture

india was buying 800 tonnes per year in the 90's so I think 20k tonnes is a conservative number

Fri, 01/03/2014 - 09:30 | 4295969 KickIce
KickIce's picture

Blackmail, the true mission of the NSA.

Thu, 01/02/2014 - 19:02 | 4294684 dogbreath
dogbreath's picture

the more they restrict the more the demand.   how much longer before the physical demand empties western vaults

Thu, 01/02/2014 - 19:04 | 4294698 buzzsaw99
buzzsaw99's picture

the india gubbermint should ban religion while they're at it. [/sarc.]

Thu, 01/02/2014 - 19:08 | 4294700 PaperBear
PaperBear's picture

Does the government of India want an uprising on their hands ?

Thu, 01/02/2014 - 19:11 | 4294706 CheapBastard
CheapBastard's picture

Tradition!

Thu, 01/02/2014 - 19:13 | 4294712 shepherd
shepherd's picture

One should hardly ever take India as a role model to follow in anything.

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