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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.

Thu, 01/02/2014 - 20:13 | 4294892 akak
akak's picture

Well, the Indians ARE pretty good at consistently pissing off the Pakistanis, and that has to count for something.

Fri, 01/03/2014 - 01:11 | 4295683 Alternative
Alternative's picture

Yeah, why doesn't their gubermint send them to chase cave dwellers somewhere, like it does us, decent white yolk?

Thu, 01/02/2014 - 19:11 | 4294716 maskone909
maskone909's picture

That broad had prob 100k plus gold around her neck

Thu, 01/02/2014 - 21:02 | 4295044 Rubbish
Rubbish's picture

I think the stuff is pretty thin. This would set you back 20K.  12 oz.

 

https://www.kotharijewelry.com/product_detail.php?product_id=756

Thu, 01/02/2014 - 19:27 | 4294723 JustObserving
JustObserving's picture

Indians pay at least 15% more than International prices for gold.  They should get rid of their corrupt politicians and bureaucrats that kowtow to the Fed.

In 2012, Indians paid only 2% or 3% more than international prices.

Indians would buy 50% more if they paid international prices for gold.

Indians, strike a blow for your financial freedom and against cavity searches of your diplomats, by buying gold and silver.

Gold in India is now at a 15 per cent premium to international prices. Just last year, you coughed up only a 2-3 per cent premium.

http://www.thehindubusinessline.com/features/investment-world/gold-the-new-rules-for-investing/article5229128.ece

Thu, 01/02/2014 - 21:49 | 4295198 satoshi101
satoshi101's picture

In the last few years the INDIAN currency, has lost 1/2 its value, ... relative to USD,

Ergo, what's 15% tax, when you preserve your wealth? Even at 50% tax,  it would be worth buying gold assuming the INR collapse trend to continue.

 

The real issue is why is the INR being destroyed internally? Why is it worlthless? Perhaps they need to be more like the USA and get out there and kill 100's of millions of people and get the INR strong again. R E S P E C T, comes from killing people. Strong currency, means strong mililtary government, welcome to the New World Order.

 

What about the ZAR( south africa ), what is has their gold policy been during the collapse of their currency (ZAR)?? I suspect that most are so poor its a non-issue, that said, there lots of INDIAN's living in Africa.

 

Thu, 01/02/2014 - 19:20 | 4294731 DiggerUK
DiggerUK's picture

Don't get it do you......by banning imports of gold it saves much needed fx for the Indian government. The smuggling will take care of wedding presents......This is something the Indians have been good at for centuries....Calm down dears, it's a non story.

..._

Thu, 01/02/2014 - 19:32 | 4294757 A. Magnus
A. Magnus's picture

What, you mean all those call centers that US companies outsource to in India aren't a source of revenue for the government there?

And you NEVER explained how a poor Indian farmer owning gold somehow drains his country's foreign exchange reserves. Non-sequitors do not an argument make...

Thu, 01/02/2014 - 22:30 | 4295314 DiggerUK
DiggerUK's picture

The farmer paying for gold bought from the village jeweller in rupees does not affect fx, but if the gold is imported then an fx transaction has to be made.

Smuggled gold does not go through normal channels of fx exchange, so is neither here nor there for the rupee.

Money for call centres run for overseas firms is good for Indian currency.

It's a non story, the real story is how a tiger economy has become  lame, that's the big issue .

..._

Thu, 01/02/2014 - 19:25 | 4294740 gwar5
gwar5's picture

Less for India is more for China.

Inflation rate in india as reported is abouut 7.5%. Criminal for politicians to keep people from protecting themselves from stupid people.

Thu, 01/02/2014 - 19:36 | 4294754 realWhiteNight123129
realWhiteNight123129's picture

Gold in bullion form is not money, it is a commodity, though it is still a form of store of value pegged to other commodities. Gold can not rise if other commodities are lower.Gold can not plunge if other commodities rise widely.

Gold is not a currency and never was. Gold was money, it is not today until mints re-open, but it still keeps its store of value component. Currencies are created against either money or credit, Currencies can fail when backed by rotten credit when the central bank can not print money (Cyprus today, Gold standard in the past). Gold can not fail as a store of value it can only fluctuate against stronger or weaker currencies.

 

Thu, 01/02/2014 - 21:31 | 4295140 BigJim
BigJim's picture

 Gold in bullion form is not money, it is a commodity

Oh really? And how many other 'commodities' have an annual stock:flow ratio of ~ 70:1?

Fri, 01/03/2014 - 00:37 | 4295625 Soul Glow
Soul Glow's picture

Do you write just to read yourself?

Sun, 01/05/2014 - 05:00 | 4301306 MeelionDollerBogus
MeelionDollerBogus's picture

gold or silver by known weight & purity have always been currency since being discovered.
Your history education is poorly lacking.

Money is currency.

It's only a very recent change in history, an aberration that will not last, that something is forced to be used as currency that isn't actually money, with money available. Tally sticks being the other aberration but without enough of ANYTHING to use, gold, copper, silver, I guess you do what you have to do.

Thu, 01/02/2014 - 19:33 | 4294759 Johnny Cocknballs
Johnny Cocknballs's picture

They'd be better off falling in love with non-gmo seeds and fertilizer.  Gold is a great store of value in a recession or depression. Along with realty  -one of the best.

But for the millions of dirt poor, even a severe recession means a breakdown in basic services and no one for miles will want anything but food and water.

But it might be a lot worse than a severe recession - it might be hyperinflation masked by global war.

 

Thu, 01/02/2014 - 22:16 | 4295279 PT
PT's picture

Yep.  The first step to protecting your gold is making sure you don't get hungry.
The second step, if you can, is making sure your neighbours don't get hungry.  (else it might be easier if you have no neighbours ...) 

Fri, 01/03/2014 - 04:59 | 4295896 StychoKiller
StychoKiller's picture

Hmm, what about eating yer neighbors?

Sun, 01/05/2014 - 04:40 | 4301294 MeelionDollerBogus
Thu, 01/02/2014 - 19:41 | 4294783 lordbyroniv
lordbyroniv's picture

 

These statists are totally out of control.

Who the fuck do they think they are?

I swear, I wish people started hanging these mother fuckers already.

Tiring shit.

 

 

Thu, 01/02/2014 - 20:03 | 4294848 Save_America1st
Save_America1st's picture

They...will...fail...

Thu, 01/02/2014 - 20:19 | 4294909 Joebloinvestor
Joebloinvestor's picture

They would be in a better position if they declared they were gonna base the rupee on gold and get it over with.

Thu, 01/02/2014 - 20:40 | 4294978 Conax
Conax's picture

Foreign reserves, trade imbalances, it's all bullshit.

They got orders from the west, stifle the gold imports or else.

They're trying, boss!

Thu, 01/02/2014 - 20:56 | 4295019 wiseindian
wiseindian's picture

Coming from that side of the world I can attest to the following:

1) Yes we are obsessed with gold, however not all of that obsession comes from a righteously placed sense of security in gold vs. fiat currency. A significant amount of the obsession comes from having a caste and class system and therefore the social necessity to flaunt opulence in a way that distinguishes you from the lower class or caste, as the case may be. So dangling gold in every fashionable way at every event is a tradition deeply rooted in a class-based society and we leave no stone unturned in making distinctions and showing our wealth (thus stature) compared to others. There is a shallow sense of materialism there but the obvious unintended side effect is it leads to a balance against blind faith in paper.

2) Gold is not just about ownership. It is also about forced asset transfers from parent to child. India has a dowry system. Leaving aside the moral hazards of dowry (spousal abuse, bride burning, suicides by indebted parents racked by poverty, girl infanticides etc..) dowry typically involves not just hard cash and other assets but also a significant amount of gold that needs to be sent with the bride after the wedding. So instead of the taxman or a bankster or the gubmint after your gold, it is the in-laws that will chase you to hell to get that last coin they feel should have come with the bride. This leads to parents "investing" in gold because by the time the girl is of maritable age (somewhere between 12 and 25 depending on region/culture), the parents better be ready with the pot of gold that goes with their girl.

3) Just because India is deemed to be progressive, doesn't mean #1 and #2 do not apply to socially progressive megapolis cities such as Mumbai or New Delhi. In fact it continues to be very prevalent in those places as well. After all, that's where the rich are the richest and will continue to outdo each other in ownership of precious metals. Government clampdowns have been tried before. This isn't the first time. It won't be the last. And it won't make a damned difference in a country where tradition (good and bad) has found a way to survive domestic and foreign onslaughts over centuries.

Fri, 01/03/2014 - 00:48 | 4295652 DoChenRollingBearing
DoChenRollingBearing's picture

Excellent comment, thank you.

Fri, 01/03/2014 - 02:56 | 4295819 PrecipiceWatching
PrecipiceWatching's picture

Fascinating.

The best Posts are those you learn from.

Thank you.

Fri, 01/03/2014 - 02:56 | 4295825 Seeking Aphids
Seeking Aphids's picture

Thanks for the post...very informative. I would add that the government efforts merely reinforce the average Indian's view that their government can't be trusted and that they should invest in gold rather than rupees......

Fri, 01/03/2014 - 06:31 | 4295930 Curiously_Crazy
Curiously_Crazy's picture

Tremendous information. Thanks for sharing.

Cheers

Edit to add: Looking forward to playing you blokes in the cricket next time. We've been whipping the Poms arses so the next season looks promising :)

Fri, 01/03/2014 - 13:36 | 4296949 wiseindian
wiseindian's picture

Yeah I was in Tasmania last week and watched the Boxing Day test on TV while there ... poor Poms can't catch a break. Batsmen from hell. Playing us shouldn't be that hard either. Green team right now. 

Fri, 01/03/2014 - 13:16 | 4296861 misnomer00
misnomer00's picture

Very well written. I could not have written it better.

Even in Indian metros, where quite a good % of educated families do not believe in dowry (maybe 5-10% of population, very rough estimate), the bride has to be, HAS TO BE, gifted gold jewellery, even if grooms need not be.

FYI do you know the average price of real estate in Mumbai - 0.6 mil INR for 700 square feet of residential RE

The average income PA would be 400,000 INR (im on the higher side here). 15:1 ratio. 

Im being very conservative, 25:1 is more realistic, although 15:1 itself is crazy. and im talking about a shitty apartment, not even a house..

 

Thu, 01/02/2014 - 21:06 | 4295052 Fix It Again Timmy
Fix It Again Timmy's picture

Well, it's just a case of India's government sucking bankers cocks.  You would think that they would know better...

Thu, 01/02/2014 - 22:14 | 4295270 Al Huxley
Al Huxley's picture

They think it's going to get them membership in the club (they've probably been told that).  What they don't realize is that it's a junior, restricted membership that requires them to clean the clubhouse toilets, park the senior members' cars, wait the tables and clean-up after the hookers leave and the coke and Bolinger's all gone.

Thu, 01/02/2014 - 21:43 | 4295174 satoshi101
satoshi101's picture

2 currency's have died against the USD, the INR and ZAR,

The AUD, and JPY are still holding ok,

So the Indians ( INR ) want to preserve their wealth with GOLD? Why the fuck not?

***

This is fight club, this is ZH, why are we not talking about the root problem, here rather than the symptoms?

Fri, 01/03/2014 - 00:41 | 4295635 Soul Glow
Soul Glow's picture

And please, what are the symptoms?

Fri, 01/03/2014 - 03:27 | 4295850 satoshi101
satoshi101's picture

The symptom is this article, the reason the pandemic of GOLD is that the INR is down 50%,

The talk of GOLD is just a symptom of their currency collapse.

Let's talk currency collapse the why and how, ... INR, ZAR, and tomorrow JPY/AUD, ... and then on to other non AAA paper.

The almighty USD will soon do the same and from will be $5k gold.

Fri, 01/03/2014 - 12:38 | 4296720 NOTfromSanFrancisco
NOTfromSanFrancisco's picture

 

 

"The almighty USD will soon do the same and from will be $5k gold."

Good... One ounce will still be about one month's mortgage payment I reckon...

Sun, 01/05/2014 - 04:14 | 4301280 MeelionDollerBogus
MeelionDollerBogus's picture

Depends. There's a lot of shadow inventory for housing & if it comes to market that would shove down mortgages & rents considerably, but the area in question will determine how much as people aren't so mobile, being poor, or may become homeless & die in the cold before this comes on the market, leaving the buyer-crowd smaller.

Fri, 01/03/2014 - 22:13 | 4298588 misnomer00
misnomer00's picture

AUD goes to 60 cents for the dollar bro.. INR maybe 80 per USD. its starting..

Thu, 01/02/2014 - 23:14 | 4295410 Luckhasit
Luckhasit's picture

The holist of holies?  Nothing pisses of Krishna off more.  Expect a tag team of him and Shiva the Destroyer.  

AKA the populace will continue to vacuum up gold. 

Fri, 01/03/2014 - 00:09 | 4295553 One And Only
One And Only's picture

Look at the still of the video before pushing play.

WTF happened to her hands?

Fri, 01/03/2014 - 00:42 | 4295637 Soul Glow
Soul Glow's picture

Henna.

Fri, 01/03/2014 - 00:18 | 4295585 eucalyptus
eucalyptus's picture

Isn't most indian jewlery out of 22k or 20k and not 14-16k like western gold jewlery is made out of?

Fri, 01/03/2014 - 06:50 | 4295938 e_goldstein
e_goldstein's picture

Some 22 kt (91.6%), but mostly 24 kt gold in India, and a lot of those intricate bracelets, necklaces and earrings are composed of 1 gram parts.

18 kt (75%) in Europe, because they've been putting up with the bankster's bullshit for centuries.

14 kt (58%) in Amerika. 

Fri, 01/03/2014 - 00:55 | 4295660 boeing747
boeing747's picture

I think Swiss has more golds than India or USSA has. Most of Indian golds already moved to UK hundreds years ago.

 

Fri, 01/03/2014 - 01:03 | 4295676 kicksroute66
kicksroute66's picture

Indian ppl are hideous.

Fri, 01/03/2014 - 02:15 | 4295777 Soul Glow
Soul Glow's picture

Ain't nothing like a pretty Indian girl.  Those almond eyes, they don't need makeup because of their skin tone.  Oh my!

Sun, 01/05/2014 - 03:56 | 4301270 MeelionDollerBogus
MeelionDollerBogus's picture

That's what, about 0.0003% of the population?

Denmark, Brazil, Canada... I'll take the cornucopia of hot girls for the win, thanks.

Fri, 01/03/2014 - 02:31 | 4295799 dunce
dunce's picture

Most marriages in India are arranged by the families and love has little to do with it, dowries are a very large consideration.

Fri, 01/03/2014 - 02:58 | 4295821 devo
devo's picture

lol @ governments

Fri, 01/03/2014 - 06:40 | 4295935 Izznogood
Izznogood's picture

Latest news directly from BBC World: Potentially huge deposits of gold have been found in - Ireland ...

Sun, 01/05/2014 - 08:50 | 4301397 BidnessMan
BidnessMan's picture

Lots of Rainbows in Ireland. Long Leprechauns!

Fri, 01/03/2014 - 10:45 | 4296363 Sufiy
Sufiy's picture


GATA: China Gold Chief Confirms Gold Price Suppression by U.S.

GATA provides one more piece to our puzzle with Gold manipulation picture in place.

 

http://sufiy.blogspot.co.uk/2014/01/gata-china-gold-chief-confirms-gold....

Fri, 01/03/2014 - 12:56 | 4296775 DosZap
DosZap's picture

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

 

The Indian Gvt will play HELL getting their peoples GOLD,there will be a Gov't change faster than you san say Jack Shit.

Fri, 01/03/2014 - 16:26 | 4297592 supermaxedout
supermaxedout's picture

If India would have not been stopped buying gold, then they would have not stopped before they had bought all the gold in the world. Their thurst for gold is unsatiable. The same accounts for the Chinese mentality as well as the the rest of Asia including the gold loving Arabs. But  also the Western people love gold.

1) gold is money. And money is power.  So gold is always a politicum.

2) Gold is beauty. The whole mankind loves gold. Its is an essential  of the human culture. You have to give gold in exchange for a woman ot vice versa. Or golden rings are exchanged at the wedding ceremony, etc, etc. This said, it is clear that there exists a  mass market for gold in all cultural hemispheres.

So till now there existed only two markets for gold.

1)The market were gold is a politicum

2 The market where gold is part of the culture

When the price for gold is high, then the broad world population is excluded from gold. When the price is going down sales of gold into the public is rising.

Presently the situation is as follows in my opinion:

The power elite of the West did not manage to kill golds role as a monetary asset. This is  clearly indicated by many, many facts. Number one fact is, that Central Banks increased their gold holdings during the past years. Plus China and Russia see gold as an instrument to diminish the role of the US Dollar. 

Indias currency was overvalued in comparison to gold. Thats why it was cheap for the Indians to buy gold and this is what they did. Now the US/UK attacked sucessfully the Indian currency Rupee to bring down its value and this had catastrophic consequences for the Indian economy. India was blackmailed by the US to hinder its surging gold imports otherwise the Rupee would have been completely torn apart, making all Rupees quite worthless.

But the US/UK can not kill gold because there is a dilemma. If the Western Central Banks would sell all their gold they would give up all their  power. Without gold a central bank is nothing. At least this is the situation today . And the funny thing is if the Central Banks would sell all their gold at once it would drive down the price but not for long. Because all of the gold would be sucked up by the gold loving world population. Everybody would stack at bargain prices. That is clear,  simply because their is no alternative for the cultural function of gold. Or what is the beauty of bitcoin?

But since gold is, besides the US Dollar, the most important asset in finance it would be a very hazardous game for the Central Banks to go away from gold. Especially when observing what the US government is doing with the Dollar. So the Central Banks are not going to sell their gold because it is presently their last anchor of stabilitry when worst comes to worst which is a US Dollar collapse.

However, it should be noted, that scientific developemnts of the recent years have opened up a third market for gold.  This is a very new development which is just now slowly transformed into products and industrial processes. But this market is going to become very huge in my opinion.

The Third Market for Gold: Gold as a Chemical Catalysator

follow these links to find out  that the industrial future for gold has already started:

Gold hits its golden age as a high-tech material

https://www.llnl.gov/news/aroundthelab/2012/Aug/ATL-082212_gold.html

 

Chemists go for gold

http://sciencewatch.com/articles/led-thomson-reuters-citation-laureates-...

 

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