The Bankers' India Gold Grab: An Update
Submitted by Jeff Nielsen via SprottMoney.com,
In previous commentaries , readers were warned that Western bankers were once again targeting the gold market of India with more of their fiendish plans. This time, they convinced (bribed?) India’s new, corrupt government – the Modi regime – into orchestrating a scheme to steal the gold from its own people.
The nexus of this scam was what was announced as “the gold deposit scheme.” Even the Conspirators themselves were unable to come up with a name to make this naked fraud sound legitimate. The fraud itself is simple, indeed utterly simplistic.
Indians “deposit” their gold into the clutches of their thieving government and are paid (paper) “interest” on those deposits. The fact that this was a naked fraud was immediately apparent. As the bankers tell us all the time, “gold generates no income.” How could India’s government pay the interest on the gold coins/bars/jewelry sitting in its vault supposedly held in trust for its depositors?
There was no immediate answer to that question, because there could be no (legitimate) answer to the question. Indeed, in legitimate bullion storage arrangements, depositors pay a fee to have their bullion safely stored for them, because while the gold generates no income, the costs of storing such gold are significantly greater than zero.
Finally, reluctantly, the Conspirators made explicit what was already totally obvious:
The deposited gold will be auctioned off from time to time to meet domestic demand for jewellery and coins. [emphasis mine]
The scam was now completely exposed.
a) Indians “deposit” their gold.
b) Indians receive (paper) “interest” on their gold while their deposited gold is sold off.
c) Indians end up with the paper interest – and no gold.
d) India’s jewellers and coin-makers then sell the gold they purchased at these auctions back to the same Chumps who originally deposited that gold.
In the eyes of Western bankers, it was the perfect “scheme” – hence their label for the plan. In the eyes of any sane, rational, human being, it was/is the most naked, clumsy fraud that one could possibly imagine. But the corporate media assured us there was considerable enthusiasm amongst India’s population for this scam.
With enormous media and government fanfare, the “scheme” was officially launched at the beginning of November. However, these same media and government mouthpieces were much, much quieter a couple of weeks later when they released details on the initial response to this obvious fraud.
A gold deposit scheme launched amid fanfare by Indian Prime Minister Narendra Modi two weeks ago has so far attracted only 400 grammes, an industry official said on Thursday, out of a national hoard estimated at 20,000 tonnes.
For those readers still less-than-comfortable with the metric system, let’s convert these numbers to the Imperial system of measurement. In two weeks, out of a population of more than one billion people, holding an estimated 40 million pounds of gold, the Conspirators only managed to net roughly one pound of gold from their intended victims.
Expressing these results in percentage terms, the Conspirators managed to steal less than 0.000002% of India’s privately held gold. At that rate, it would take India’s government (and the bankers) more than one million years to steal all of India’s gold.
The thieves were not daunted, at least not publicly. The media offered assorted excuses for the “slow” initial response to the scam. India’s government immediately added new inducements for the scam and pledged a “high-level meeting” to plot even more changes.
Last week, the government announced several steps to make the scheme more attractive for consumers, including measures such as eliminating capital gains and income taxes on the interest earned. The meeting on Tuesday is expected to focus on incentives for banks.
“Capital gains and income taxes”? Indians are having their gold stolen from them. They receive paper interest equal to a fraction of the value of that gold in return. And the media/government liars have the audacity to call this interest a “gain” or “income”? How magnanimous of India’s government to announce that it wouldn’t tax those “profits.”
With these new inducements in place, the Conspirators sat back and waited for the gold to start flowing into their vaults. Two weeks later, we got our next update :
The scheme has only attracted about one kilogramme [two pounds] in a month, prompting the government to nudge temples through banks to hand over their treasures …
First we get news that the thieves managed to net another, whole pound of gold during the second half of the month, and were still on-pace to steal all of India’s gold in 1,000,000+ years. Then the language (and imagery) descends to surreal comedy.
We’re now told that India’s government sees “temple gold” as its best/easiest target for stealing. But then we’re told that India’s government isn’t going to approach the temples directly, despite its boasts of what a “great opportunity” the gold-deposit scam represented. Instead, we’re told that India’s government plans on sending in bankers to “nudge” the temples to “hand over their treasures.” Why?
Once upon a time, those individuals who could liberate the most wealth from institutions in the least amount of time were known as “bank robbers.” But those days are ancient history. This is the 21 st century, or as the corporate media likes to call it, all the time, “the New Normal.”
In the New Normal , the world’s premier wealth liberators are no longer bank robbers but rather bank er robbers. These wealth liberators of the 21 st century make the bank robbers of the 19 th and 20th century appear as nothing but rank amateurs.
Observe. First a banker (and bank) is given custody of (someone else’s) financial assets in order to “manage” those assets. Then, a blink of an eye later, the bank/banker proudly proclaims that the bank now owns those assets. The bankers call this method of wealth liberation “a bail-in.”
However, in this case, India’s new government was not calling upon its friends, the bankers, to engage in any direct wealth liberation. Rather, they were being sent in to engage in persuasion. Presumably the “bankers” assigned to that task had names like Butch and Knuckles, and instead of carrying briefcases, they were brandishing “implements of persuasion.”
A mere three days after India’s government sent in the bankers, the following announcement appeared:
Mumbai’s Siddhivinayak temple to deposit 40 kg of gold in monetization scheme
Here’s what is interesting about that announcement. First of all, the bankers had already invested many years of time and effort looking for some means to “gather” some of the thousands of tonnes of gold held by India’s temples – and failed. Meanwhile, just three days earlier, we had been told the following.
But Mumbai’s Shree Siddhivinayak temple, which is devoted to the Hindu elephant god Ganesha, said it remained unconvinced about the benefits.
What could have been said to (or done to) the leaders of this temple in order to get them to suddenly reverse themselves after years of resisting all efforts by the bankers to “gather” their gold? Only Butch and Knuckles can answer that question – but they probably won’t.
The strategy in strong-arming at least one of India’s temples out of a small portion of its gold is obvious. “Look!” hiss the bankers, “Your religious leaders are giving us their gold. That means that it must be a good idea.” Including the 40 kg of gold liberated from the Shree Siddhivinayak temple, this brings the total haul in the gold-deposit scam to 41 kg to date. Put in different terms, the total amount stolen has now risen from 0.000002% of the gold of India’s people all the way to 0.00008%.
Will the scheme by the One Bank and India’s government to steal some/most/all of the 20,000 tonnes of privately held gold in India be successful? If so, Butch and Knuckles will have to engage in a lot more persuading.
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I wonder how you say "fuck you banksters' in Hindi, Bengali, Telugu, Marathi, Tamil, Urdu, Gujarati, Kannada, Malayalam, Odia, Punjabi, Assamese etc etc
A quick way to commit suicide.Most of the temples have armed guards,true believers,
not rent a cops.
The army won't enforce it,full of officer Sikhs with their own Golden Temple.
Indians would rather starve than part with their gold.A billion rioting Indians will be the only result.
Oh pshaw, Winne. All's good if looked at through the proper pair of Propaganda Mechanism, Perceptions Management Relations Rose Colored Glasses.
To believe otherwise is racist because you can't deal with a black man in the White House.
LOL Seems the many of the sheeple are "getting it" unlike what some assume here. And yes, many believers are at a point where they simply cannot admit being wrong. To wit: 20% of Dems now abandoning their crib for Trump... Not that they Like or Worship Trump as they did the Magic Negro, but they've had it with Imperial Rule..... That old no representation with lots of regulation and taxation thingamajig coming back into vogue.
The Progressives have created their very own backlash.
So pendulums swing.
What is most worrisome is that Congress and the Judiciary have blessed the Imperial Rule under Obama meaning precedent has been set for a very ugly dictatorial rule by some none to friendly folks.
What's this all got to do with Indian Gold?
The only people who want other people's gold are the Illuminati, NWO Bilderberger types. The Tyrants, the Central Banker Fiat Galore-centric power mad dogs of war and enslavement.
Them who do not like personal freedoms.
Dear Martin Armstrong,
This article is another example of who carries your label of "Goldbug", except it's not some delusional individual, it's the Indian government! They are doing the very thing you despise, that is, trying to secure the physical metal.
Stop ignoring the corrupt Federal Reserve System.
Exactly! for something that he supposedly thinks is no different than any other investment vehicle, he spends at least a third of his blog space deriding gold bugs, while ignoring data points like this. He's been right so far but then I read something like this where governments are after the physical, also ukraine, Libya etc, where outside forces are after physical and I just can't get to his viewpoint. To be fair, he does say a rise in price is due to distrust of gov., wonder how much more screwed up its gotta get to reach that point.........
It ain't just the Indian .gov. I was at my local (Indian) gold jeweler a couple of weeks ago. He turns bullion into jewellery at very reasonable prices, thus (maybe) making it confiscation-proof, particularly at airports, as well as selling jewellery. And he has a new line of business. He told me if I deposited gold with him, he would pay me 4% per year, in gold not cash. All sorts of insurance and corporate guarantees. He couldn't explain to me how HE benefits from this, not in a way I could understand.
But the concept is interesting. 4% is quite a bit more then I get on my bank account, about infinty % I calculate. More, if you take into account fees (infinity plus??). And it puts paid to the "it doesn't work for you" argument.
SO they gonna raid one of those satanic temples? Which begs the question: Where is Satan now? >> http://wp.me/p4OZ4v-3ib
Lemme guess, w/o falling for your click-bait, porn site. Right?
No. I clicked, and it's an apocalyptic biblical revelations sort of thing. But I think that if Satan is enchained in a bottomless pit, that pit must be the loneliness of lack-of-empathy, in which one never truly feels at one with others and with the universe, because one is always thinking about oneself, and therefore feels "uninvited" and therefore "victimized" and the only thing that brings some relief is to make others and the univese pay dearly, such payment being "respect".
So freaking true, those Sikh officers know that their temples would be looted aka they have the most gold and so they won't do it. And Indians aren't dumb, they have to use gold for marraiges and dowry's and so they would rather throw the govt. out before throwing their gold out.
Not dumb those Indians, are they not?
Lemme guess: Someone made a promise that they could not keep. Now, rather than admit their incompetence, they plan to steal from those who are too weak to fight back. If they succeed, they keep the debt collector off their backs for a small amount of time, but very quickly they must steal even more from the weak who cannot fight back in order to further hide their incompetence and keep the debt collector off their back for a little longer.
They should have just declared their incompetence, filed for bankruptcy and then taken a minimum wage job and worked their way up the honest-living-competency ladder. Then again, maybe that was not an option. Promise too bold, ego to great, or debt-collector too blood-thirsty. Impoverish and enslave billions so one can cling to an undeserved station, but the hell will always stay and not go away because the debt is too large and physically cannot be repaid.
It's only a guess. Am I getting warm?
The word you're searching for is "gold" in all languages and nothing says fuk you banker than owning and holding your own gold.
Except maybe .... SILVER !!!!!
"Silver" and "Money" are the same word in 20 some languages for good reason.
History can be rewritten but not human nature.
Gold and Silver have been a part of human life for so long that it is practically in our DNA.
The Silver market is so small in FIAT terms that if the people of the Earth were to decide to PROVE the Emperor has no clothes the facade could be brought down in a day !
SILVER is THE Achilles heel of the Banksters.
That's right and at some point in the near future gold will disappear entirely for 'national security' reasons. Then Silver will be the new gold of the people / masses.
Right!
The silver thaler https://en.wikipedia.org/wiki/Thaler .
"Dollar" means "thaler".
Silver is the poor man's gold. Just as good as gold, but in smaller monetary values.
In the book, Alice in Wonderland, aka Alice's Adventures in Wonderland, by Lewis Carroll, Alice's shoes were SILVER slippers, not RUBY slippers. When Hollywood made the movie, they got rid of the silver slippers.
In the bhagavat gita the hero is arjuna, a disciple of krishna. arjuna = silver in sanskrit
Id say" you cant have my gold,But there are secounds on LED!
Die you bankster fucks!
Hunting in the streets starts soon!
" I wonder how you say "fuck you banksters' in Hindi, Bengali, Telugu, Marathi, Tamil, Urdu,Gujarati, Kannada, Malayalam, Odia, Punjabi, Assamese etc etc, "
In Bankster lingo is "Trust me"
400 grams is less than an ounce
I'll happily trade you an ounce for 400 grams, all day long.
One troy ounce = 31.103 grams.
Time to bring back the cobra charmer to let his "workers" loose in the banks this time...
Snakes. Why'd it have to be snakes?
Show sum respect to our masters and donate sum barbarous relic to the "cause" you "pond scum"
Temple relics not seen as so barbaric, it seems.
Its like the Bankers (AKA: Jews) never stop, what is it with them? Honestly, not everything that shines is gold.
Through the use of bank control and market manipulation (and absolute nepotism and racism), they gained much control of US media/entertainment, legal and legislative system, then commenced to monetizing our nation. Demonizing the ideas of common good, society, citizen/corporate responsibility, now its all about me, modern day feminism at its core. That is to say, once they had a lock on the money, they made maney the ONLY thing of value.
It is what it is, good for the Indians, they are a lot sharper than Americans will ever be, and far more reasoned.
https://thezog.wordpress.com/
Vote this down you spineless hasbara cowards.
You can't because this is not the zionist huffington post, CNN, Slate... where they censer any Zionist facts, ZH allows honest discourse, something zionist Jews despise.
It's for Solomon's new Temple.
Also built by utilising Demons.
We have these beta programs around the world acting in different ways in the Bankster war against gold.
The common thing is the Banksters.
When are we going to recognize Banksters for what they are?
Why such a fuss over a barborous relic?
Because the real barbarians know the real value of their relics!
Well, if the Indian government wants to create a popular rebellion, go ahead and try to take the temple gold.
When all else fails, isis turrists will show up and turraize some gold right out of one of them temples.
The others will realize how foolish it is to have it on the property after that.
Well, being a turrist in India might not be as good an idea as it used to be, even for ISIS...
http://www.cbc.ca/beta/news/world/india-police-danish-tourist-gang-rape-...
It's just mind bogling how those bankers manage to steal in the open with the government concent and that those governmennts keep getting elected!
thats approx. 1300 ounces
I lost more during a boating accident recently
400 grams is less than 13 troy oz, not 1300 oz.
Depends whether you are buying from, or selling to the nice little old lady.
40 kilograms= 40,000 grams= 1300ish troy oz
Mumbai’s Siddhivinayak temple to deposit 40 kg of gold in monetization scheme
It was probably scrap gold that needed melting down anyway.
Wish someone could find out who the chumps were that deposited that one pound of gold. I got a bridge I want to sell them. But come on, these guys weren't just chumps, they were wood chumps. You know, "You can fool all the wood chumps all the time."
It was more than likely some of that Chinese made Tungsten "Gold" that the government reported as being stole, er I mean deposited.
I assume the gold is in the form of generic bars, not some priceless statues or art
Tyler, the mobile app spam page that keeps popping up on your site, that has no exit means, other than to leave your site? It sucks. Terrible idea.
"Presumably the “bankers” assigned to that task had names like Butch and Knuckles, and instead of carrying briefcases, they were brandishing “implements of persuasion..."
So, now we know what at least one member of this board does for a living.
I would guess the Bank essentially bought the gold. Low interest loan or what not. The Temple probably used the loan to buy more Golden Elephants.
Yeah. Well, that sounds like a pretty good deal. But I think I may have a better one. How about, I give you the finger. [/Neo]
one out of 400 million.
I'll bet that is the same guy that responds to all those spam emails and keeps the spammer's hopes alive
This is just another instance of what too many people in the western world do not know: There is a big difference between owning an asset outright, and owning a claim on that asset. When you own a claim - like when you have deposited fiat or gold into a bank - you have a counter party risk. If you directly own the asset there is no counter party risk - only a risk of government confiscation, or other theft.