Gold confiscation coming to India?

http://www.bullionbullscanada.com/gold-commentary/26034-gold-confiscation-coming-to-india?utm_source=twitterfeed&utm_medium=twitter

As one of the loudest voices warning of the risks of “bullion confiscation” by our governments; it was no surprise to me to see the Corporate Media singing the virtues of bullion confiscation. What was a surprise is where this “initiative” purportedly originates: India.

Readers who follow the precious metals market are familiar with the dynamics here. Western Sheep choose to hold the bankers’ fraudulent paper currencies – despite our governments openly/explicitly driving the values of those currencies to zero with their “competitive devaluation.” It was this foolhardy mistake which is a major factor behind the greater-than-50% decline in the U.S. standard of living over the past 40 years.

Meanwhile the “peasants” in India (as well as many/most urban residents) do not engage in similar, suicidal behavior. They park their wealth in gold (and silver) bullion – immune to the print-and-dilute theft inherent in every fiat-currency system. It is one of the key reasons why Asian standards of living are rising, while those of the West plummet downward at the fastest rate in history.

In my own naivete, I had assumed that our predatory Western governments would target their own people for bullion confiscation, and look to steal the modest amount of savings of the shrewd minority in our societies who do hold precious metals. But apparently the bankers and Oligarchs have their sights set on a bigger prize: the largest private holdings of bullion in the world, in India.

Let’s be clear that this is obviously a Western proposal, as indicated by the English-speaking“front” organization used to deliver this propaganda. What is the substance of the proposal?

…Households and temples carry about 25,000 metric tons [of gold] and a successful plan to gather at least 10 percent of the gold reserves for lending to jewelers will ensure supplies for three years…

So here we see the modest goal of the Western Oligarchs: harvesting (i.e. confiscating) “at least 10 percent” of Indians’ gold, and to apparently repeat this harvest every three years – since the propagandists putting forth this trial-balloon claim that a 10% harvest would only deal with the supposed “problem” faced by India for three years.

We see further evidence that the entity spewing this banker propaganda is nothing but a Western mouthpiece, as any genuine “Indian” entity would understand that proposing to plunder the gold from India’s religious temples would be an absolute “non-starter” for its ¾ billion population.

Just as phony as the organization itself is the supposed “problem” which this bullion-confiscation scheme claims to address: what it calls India’s “current account deficit.” Here a quick definition is in order for those not conversant with this economic jargon.

A current account deficit (or surplus) represents the flow of “money” into/out of an economy. Just as nations have “trade deficits” (and surpluses), so too it is a necessary proposition of arithmetic that each year there will be some nations with net in-flows of capital, and others with net out-flows.

What is phony here is the lie behind the mythical “current account deficit” of India. As the world’s largest importer of gold bullion, each year India has a large out-flow of the bankers’ bogus paper currencies and a large in-flow of real money: gold. Obviously you cannot have a “current account deficit” (or surplus) in exchanging one form of money for another.

Let’s make no mistake here. The Western banksters themselves (and the Oligarchs they represent) not only consider gold to be “money”, but (as has been the case for 5,000 years)our best money. They recently were forced to elevate gold to the status of a “Tier I” monetary asset, in deference to its superior status to their own, debauched paper.

More importantly, it is these same banksters who require all international gold transfers between banks/governments to be reported and accounted for exactly as they do with their paper currencies. No one thinks of gold as “money” more than Western bankers. Thus the premise that India’s swapping of (bad) paper money for (good) gold money somehow is creating a “currency deficit” is not only wrong, but patently absurd.

http://www.bloomberg.com/news/2012-12-11/india-must-tap-household-temple-gold-to-reduce-imports.html

India, the world’s largest bullion buyer, should mobilize idle gold lying with its citizens to curb imports and lower a record current-account deficit, according to the All India Gems & Jewellery Trade Federation.

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“should mobilize idle gold lying with its citizens”

i thought all objects were idle?..its idle if its not in your bank vaults you mean..

401

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~ by seeker401 on March 10, 2013.