http://www.zerohedge.com/news/2013-0...s-all-time-low
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Frickin' amazing: lightning wipeout of gold inventory. We are witnessing a panic to physical gold for sure. Can the central banks quell the flames and calm the markets?
Quote:
Originally Posted by mamboni
Yes they can, by simply manipulating the price lower and giving the impression that precious metals are of little value... that should work :rolleyes:
let's just be thankful that they're not lifeguards.Quote:
Originally Posted by ximmy
with their competence level ... people would drown.
maybe we should let Dave Wassell & Mark Cunningham (North Shore Hawaii lifeguards) take over the Fed.
You mean like dousing a fire with gasoline to extinguish it. Very dangerous and unpredictable.Quote:
Originally Posted by ximmy
Couldn't they call in loans from players with large amounts of gold, forcing them to liquidate?
I think we are seeing the great magic trick.
Gold MUST be removed from the vaults where it is counted and registered. It will be sent off to invisible and unknown places for the personal benefit of the insiders. In the vaults it is subject to attack.
The little people who do not belong to the club will be put off initially with offers to buy out their positions with soon-to-be worthless paper. Club members are given wheelbarrows to remove their gold. After the jig is up, the failure of JPM will be lamented and the lack of any gold or other valuable assets will be hailed as one of the great mysteries of life that can never be untangled.
MamboniQuote:
Originally Posted by mamboni
Sounds like an introduction to a Batman episode.
Can our cape crusader get out of this........
Stay tuned! Next week! Same Bat channel!
I think big money insiders are taking their physical gold out of COMEX and LBMA depositories as we speak. COMEX is just a paper front that probably has only a fraction of the gold it claims to have. They are looting the GLD gold now to feed COMEX deliveries. Only the connected few are getting their gold. Also, I think China and Russia via soveriegn wealth funds have moved in for the kill and are taking out multiple tons per day. I know we have been predicting the COMEX/LBMA default for years. But I think the day of reckoning has finally arrived. The banksters are cornered. If they let the paper gold price rise sharply to quell physical demand, then a bond market failure and run on the dollar will likely ensue. This will surely supercharge the gold buying international as everyone rushs out of the US dollar at the same time. If they do nothing but hold gold in this narrow trading range then they will continue to hemorrhage physical bullion with weeks to go before they are busted. If they hit gold with one more massive short sale raid and knock the price down another $200-300 dollars, hoping to despirit gold buyers and kill the physical demand, they risk the opposite reaction: total wipeout of retail gold inventories forever and a massive run on wholesale physical gold bullion by central banks, sovereign wealth funds, institutional investors and large cap private investors. All three scenarios lead to the same outcome: force majeure default on gold deliveries at COMEX/LBMA declared and all outstanding claims are settled in cash. Within 24 hours, the gold price will gap higher, probably $500 or more as investors scrambel to lock in the physical gold. However, there will be no physical gold for sale at any price. We will hit the FEKETE MOMENT. I expect that certain paper gold investments of stellar reputation and backed by audited unencumbered gold bullion will skyrocket in price: CEF, PHYS and GTU. All of this will transpire within a 24 hour time frame, so you must be positioned now to benefit.Quote:
Originally Posted by Libertarian_Guard
http://1.bp.blogspot.com/_TS68mTgxcj...-DR-EVIL-2.jpg
I called the dealer who supplies all the smaller coin shops with gold in the Chicago area and he has no gold eagles, in any denomination at all! :o
and then silver will go to $15.
Only if you buy some.......don't!Quote:
Originally Posted by chad
Here's an excellent summary of the present situation, the run on the gold bullion, written in terms the man on the street can grasp.
Thursday, April 25, 2013
Is Your Gold Missing?
When it becomes widely known that all of the people who think they own gold in fact don’t own gold, that it’s been hypothecated and re-hypothecated so many times that there are 100 claims for every single ounce of physical gold, that is when the prices of gold and silver will really go berserk to the upside, and at that point the shorts will have serious problems - John Embry on King World NewsThe press pounced all over the massive smack down on gold/silver last week. Headlines were thrust in everyone's face. Gold dropped $200 dollars in two days and the media wanted to make sure everyone knew about it. Well, guess what? As I write this, gold has gained back over $100 that drop. But is this being broadcast in flashing marquee lights the way the sell-off was? Of course not.
In the aftermath of that sell down, a lot of facts have come to light. But first, the bounce we're seeing is illustrative of the fact that you need to hold on tight in this sector in order to truly benefit from the wealth benefits of investing in physical gold/silver and good mining stocks. As an example, since late 1999, the mining stocks have suffered two periods in which the mining stocks had severe sell-offs of this magnitude - late 1999 to early 2001 and mid-2008 - Oct 2008 - in response to large manipulated drops in the metals. But after the sell-off ended, it literally took less than 3 months for the HUI/XAU indexes to double from their bottom and then head to new all-time highs a few years after that. I feel bad for anyone who was shaken out this time around, but I guarantee you that Wall Street does not harbor the same sympathies...
At any rate, what's been exposed from this market price correction is that fact that 1) more people now understand why it is important to own physical gold and silver, as evidenced by the fact that U.S. quickly sold out of silver eagles and is on a track to sell a record monthly amount of gold eagles; and 2) there is a serious problem globally with amount of gold that is available for physical delivery to the buyers who are demand actual delivery.
I thought I would go over some statistics from the Comex to illustrate why we know this is the case. The total gold held on the Comex is 8.5mm ozs, of which 6.3mm is not available for delivery - i.e. it's investor gold being held in Comex vaults. Stunningly, over 2 million ounces of gold - roughly 60 tonnes - has been removed from the Comex vaults in the last three months. Most of it has come from investor accounts. You have to wonder why all of a sudden big investors have removed their gold from the Comex.
Investor gold is not "eligible" for delivery on futures contracts. The gold that can be delivered is sitting in "registered"accounts. The amount of registered gold currently is 2.28 million ozs. The total open interest in futures contracts for gold is 416k contracts, or contracts representing 41.6 million ozs. Essentially there's 18x more paper gold in the form of futures open interest than there is gold that can be delivered. The June front month for gold has 255k open contracts, or 25.5mm ozs open. That's 11x the amount of gold available for delivery. If even 10% of June gold contract longs held for delivery, the Comex would be completely wiped out of its gold and would have to default on the delivery of some. But the Comex has a "force majeur" clause in its contract that allows cash settlement. We won't see that happen in the near future most likely, but it will eventually happen.
In silver the total open interest represents 786.3 million ozs. That's about 3/4 of global annual production, which includes 257mm ozs of recycled silver. So, the total open interest on the Comex is about equal the total annual amount of silver mined globally. There's 39mm ozs of silver available for delivery. In other words the amount of paper silver on the Comex is 20x the amount of silver the Comex has for delivery.
I think that explains why big investors are removing their gold from the Comex. The Comex is one giant Ponzi scheme. Anyone who is going to rely on the Comex as a source of silver, either industrial or investment, is going to be left holding a giant, empty paper bag. That explains why we are seeing a such frenetic activity - not just in this country but globally - by investors looking to get their hands on gold/silver that can physically delivered to their possession. A long-time colleague of mine prepared this caption, which sums up the situation perfectly:
As the severity of the physical gold/silver shortage vs. the paper claims issued (futures, LBMA forwards, OTC derivatives and Central Bank leases and swaps) against that actual amount physically available - as demonstrated by my Comex example, which is only part of the global problem - the price of gold and silver are going to start to go parabolic. Although most of you are not aware, but from 1974-1976, the price of gold dropped 47%. But from 1976 to 1980 the price of gold went up 800%. Given what we know about the massive, unsolvable global financial problems, and the enormous amount of money that will need to be printed to keep the system from collapsing outright, it's a good bet the next extended move in the metals will dwarf the move gold made in the late 1970's.
Posted by Dave in Denver at 11:59 AM
http://truthingold.blogspot.com/2013...ing.html#links
They have computers running this...All are follwoing the program to the logical conclusion.
The top has designed the game so they win by default in the end.
All that taking more power than you give or absolute capitalism leads to is death.
It's the same as chopping down trees faster thna they regrow.
That is what has been going on dueing the roaring 6 decades since 1944...The global system has been amassing power...more and more and more...and to do this requires more and more resources.
from 1991 to 2005 there was a real estate boom in the USA that supplied the demand of the world for money...and the uS dollar was made money in 1944.
that all teh rest of the money in the world was made a derivative of.
and the US dollar was mostly composed of credit...so the US dollar in the form of bank credit or debt is a derivative of money and all the rest of the bank credit or debt of the world is a derivative of US bank credit.
The real estate boom collapsed in 2005 due to running out of line signers...which are sustained by resources...teh boom was consuming line signers faster than the ycould be produced...and that lead to teh collapse in 2008 to the current position globally.
if the USA has countined to inflate at a 7.9% rate like 1944 to 2008...the USA would have produced 10 Trillion more dollars than currently exists.
It what the EU is collapsing and China is slowing down and and all teh economic zones like syria egypt greece Iran Iceland are collapsing.
Yield starvation.
the top lives off the yield from the bottom.
when teh bottom is sucked dry of power...the supply of power to the top is cut...and thne the top can't supply what the bottom wants.
their power back...minus the amount the top requires to sustain themselves and the system.
The interest, the mark up, the taxes, the profit,...the Yield.
Hypertiger, what do you think of this guy's ideas?
http://gold-silver.us/forum/showthre...ary-Blind-Spot
Frickin’ hairless monkies,
Reachin’ for the gold,
Don’t they know they’re bottoms,
The top sucks them ‘til their old,
Maximum potential,
They strive to reach,
Those hairless monkies faulter,
The top makes life a bitch,
Cutting down trees faster than they grow,
Watch the hairless monkies, what do they know
The top owns their axes and the top takes their wood,
The tired hairless monkey now stands where he stood,
The gold all over the world is suddenly going missing.
This could be it , time will tell but things have certainly hotted up on the physical side.
Will be an interesting year/month.week ,take your pick.........
This latest LW interview is very timely. In the second half, he explains why the elite took down gold and silver. It expplains why the bullion vaults are seeing record declines in gold: the elite are pulling their gold out in preparation for the big reset. Hold on to your physical folks!
http://www.youtube.com/watch?v=Utacr...layer_embedded
Frickin’ hairless monkies,
Reachin’ for the gold,
Don’t they know they’re bottoms,
The top sucks them ‘til their old,
Maximum potential,
They strive to reach,
Those hairless monkies faulter,
The top makes life a bitch,
Cutting down trees faster than they grow,
Watch the hairless monkies, what do they know
The top owns their axes and the top takes their wood,
The tired hairless monkey now stands where he stood,
[Chorus]
Ooooo, Oooo, the pastor tried to warn you,
Aaaah, Oooh, to buy his DVDs,
Ooooh, oooh, go get your pen and paper,’
Aaaah, Oooh, the elite are gonna squeeze,
Frickin’ hairless monkies,
Grabbin’ for some silver,
Don’t they know they’re slaves,
They’re just pyramid builders,
Maximum potential,
It’s just in sight ,
Those hairless monkies scramble,
They’ve already lost the fight,
Cutting down trees faster than they grow,
Watch the hairless monkies, what they don’t know
The top owns their asses and the top makes their bread,
The tired hairless monkey works ‘til he dead,
http://www.rumormillneIn order to do my duty to all those who may be at risk, I am offering this report.
In following finance it is always wise to know in advance exactly what is going on, and offer insight into the realities governing the forces at work.
In the recent past I have clearly stated that those who have had the ‘power’, financial and political/military, are loosing control.
In the strictest terms, manipulations of ALL markets has been running rampant in the wildest ways.
Those who understand the true nature of ‘collateral’ and its origins, knows that ALL currencies are based on this collateral.
In recent weeks, there has been open manipulation of precious metals markets.
Extreme drops in ‘delivered’ prices, or spot prices, was seen by everyone with any interest.
I have stated openly that this was done on purpose by the largest holders/traders, institutional and private.
Most of the large traders always use ‘paper’ in their large trades.
The delivery contracts are a form of ‘bond’, as an agreement, between buyer and supplier.
Everyone has been told to exit ALL paper of every kind.
The open standing orders for tons of Gold was the final signal to every holder. This was a forewarning of a ‘serious problem’.
Due to needs, most holders of paper have been requesting ‘physical delivery’ of their Gold.
>Most have been Refused by the trading entities involved at the highest levels and largest firms.<
These traders used the same scam as central banks of ‘fractional banking’, loaning and selling ghost Gold!
>The real assets sold far outstrip supply.<
One of two things will occur. Acceptance of cash in stead of the Gold, OR a complete ‘default’ in the whole trading markets.
Either way, those holding (in hand) real Gold will see the price go through the roof!
Basic economics states clearly that, high demand and short supply, means a rise in price.
Although none of the main stream media is reporting this collapse on one side and skyrocketing on the other, I am.
Note that the price was artificially suppressed recently. Notice that even though an artificial collapse was attempted, it Failed!
Many who had seen the Gold commodity fall, suddenly became Buyers.
This caused a stabilization of the price and a short time later a rise.
At this point, the large traders have tried to make calls accepting the physical Gold, and most have been refused because of a lack of supply.
>Hold or buy Gold NOW!<
As the ‘Paper’ Gold has started to be used, there isn’t enough to make delivery. $1.1 Trillion in paper was dropped into the markets and the price went to $1300.
Just as suddenly, a feeding frenzy of buying took place, and the price rose to $1400 +.
The price is still climbing…
First, paper gold will decrease in value.
Second, all physical gold will increase in value.
Third, there will be a ‘failure’ in the traders markets.
Fourth, those holding physical gold will see the real ‘price’.
My estimate of valuation is in the three times (3 X) present price.
This will cause extreme panic among those who have relied on currency support through assets held by central banking and treasuries World Wide.
Hold your ground AND your water.
Under no circumstances, sell your Gold.
As currencies are affected, only those ‘commodities’ recognized as currency, will be honored as currency. This is Gold and Silver.
Behind the scenes, Neil Keenan is very close to releasing the collateral accounts.
This means that the holders of the collateral that ALL currency value is drawn from, have decided to ‘call’ the accounts due and payable. Collateral + 4% per anum interest.
I do hope this gives a simple look at a very complex set of incidents.
The impacts of these actions should start to be felt by next week.
Get ready NOW! No one has any time left.
~ Drake
Sinclair - The Elites Frightening Plan To Control The Masses
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/28_Sinclair_-_The_Elites_Frightening_Plan_To_Control_The_Masses .html
zero hedge= the most credible,intelligent financial blog extant.
that latest interview from Lindsey Williams, I heard him say his elite friend told him april 4, 2013 (3 weeks ago or so), that "you have 2 months until the dollar is done, it will not see june"
did anyone else hear this?
here is the interview from lindsey
http://www.youtube.com/watch?v=Utacr...layer_embedded
caymans and Dubai, great danger
new Zealand, Australia, and japan (much emphasis on japan)
lots and lots of countries will be cyrpused in the new couple months
I was over in NZ when the Cyprus thing hit and NZ immediately adopted this plan to Cyprus people from july first this year.Quote:
Originally Posted by Large Sarge
Interesting comments/'gossip' allegedly from Dave in Denver (via DavidPierre @ ZH) in the comments of the same article:
"My buddy in NYC just called me. He was chatting with a high level relationship manager in a big bullion bank private wealth management area. It's a pretty small-knit community. This guy worked at JPM until about 6 months ago and now works at another Euro-based bullion bank (there's only a few).
He (my friends contact) said that there's a massive scramble going on in Europe right now by very wealthy families and individuals to get their 400 oz. bars OUT of the bank vaults. He said "imagine a very wealthy Swiss family walks into a JPM office and says 'Id like to take my $30 million in gold bars out of your bank and if you don't let me do that I'll move my $100's of millions you manage somewhere else.'" Apparently this scenario is going on en masse. In fact, he said not too long ago JPM sent around a notice to wealthy clients that their bars were safe in a segregated vault account at JPM.
He said everyone is aware of what's going with the paper vs. physical scheme and now these wealthy entities are doing what they can to get their physical bars out of the bullion bank vaults. It certainly explains the drain in "eligible" gold from the Comex, most of coming from JPM's vault.
He also said that he suspects - although he can't confirm - that someone like a John Paulson held a gun to GLD's head to get their gold out of GLD. That's part of the bar drain from GLD. He can't confirm it was Paulson specifically, but Paulson is a private bank client of JPM's. JPM is also Paulson's main hedge fund prime broker."
Denver Dave
www.lemetropolecafe.com
Two key things this article does not touch on from the brief moment I spent to read it is....is this their only gold ( I doubt it), and who is doing the majority of the buying? Family, and friends, or the public?
The only thing that is "for sure" about this article so far is that zero hedge hosted on their website, and JPM, is moving some gold.
The FED and the bullion banks are desperately POMOing the markets hoping the gold dam won't burst. Gold demand continues at record pace while gold price languishs - pure unmitigated manipulation by the corrupt banking cartel. BTW, this is Steve Rocco's new web blog and it positively required reading for all you silver and gold bulls!
India’s Banks & Trading Houses Only Receiving 10% of Gold Orders
Filed in News by SRSrocco on May 13, 2013 • 6 Comments
http://srsroccoreport.com/wp-content...India-Gold.jpg
The recent takedown in the price of gold has created huge demand for physical bullion worldwide. India’s wholesale buyers are only receiving a tenth of the gold imports that they have ordered.
According to The Economic Times India article:Furthermore, many Indian jewellers are expecting gold sales of 30-50% higher during the Akshaya Tritiay holiday (May 13th) compared to last year due to the lower price of gold.
Haresh Soni, chairman of the All India Gem and Jewellery Trade Federation, said banks and trading houses importing gold are getting only 10 per cent of their orders as the demand has surged sharply after a sudden slide in gold prices last month. “If they place order for one tonne, for instance, then they are getting only around 100 kg,” Soni said. “Consumers are buying in advance for family weddings scheduled in winter.” Buyers have been swarming to jewellers since last month as gold prices fell 11.5 per cent in a week, from over Rs 29,000 per 10 gm on April 10 to Rs 25,680 on April 17. Since then, the prices have partially recovered to about Rs 27,500 this week.
With this sort of demand, the price of gold will not remain this low for long.
“People are buying jewellery of all kinds and there is good demand for coins too,” said Rajesh Mehta, chairman of Bangalore-based jeweller Rajesh Exports, which has 80 retail outlets across Karnataka under the brand name Shubh Jewellers. He expects a 30 per cent jump in demand for Akshaya Tritiya.
Credit for the top. Debt for the rest.Quote:
and the US dollar was mostly composed of credit...so the US dollar in the form of bank credit or debt is a derivative of money and all the rest of the bank credit or debt of the world is a derivative of US bank credit.
that is a huge story mamboni, on India/10% receiving rate
HUGE!
that's a major default, an ongoing train wreck
Quote:
Originally Posted by Large Sarge
Yep! The banksters are bluffing big time vis-a-vis the paper gold price. They will not be able to hold this together much longer.
Considering there is only 1% physical to paper ,10% is pretty good...heheQuote:
Originally Posted by Large Sarge
My guess is about now there are several bullion bankers stateside shitting a brick or two, and unfortunately for them, not gold bricks! And there is this:
(courtesy Vickey Kapur/United Emirates247.com)
Gold price falls to $1,420/oz: Dubai sees massive surge in bullion demand
By
Vicky Kapur
Published Sunday, May 12, 2013
Dubai demand for gold has been witnessing a massive surge since the price collapse of last month, with demand far outstripping supply.
Various estimates suggest that demand in the past few weeks has been nothing short of astronomical, surging by 10 times the normal demand.
According to the latest precious metals weekly report by Gerhard Schubert, Head of Precious Metals at local bank Emirates NBD, "Participants of the physical industry in Dubai believe that an additional 50 tonnes have been bought since the price crash in April. These sales figures are in addition to the ‘usual’ numbers and put a little perspective on the derivative side of the market."
The usual numbers that Schubert refers to are the same as the demand seen since April. According to World Gold Council data, total consumer demand for gold in the UAE (not just Dubai) stood at 51.8 tonnes for the entire year 2012, which means that demand was about 4.31 tonnes per month during last year.
Compared with that, as Schubert mentions, Dubai demand in the past few weeks has been 50 tonnes plus ‘usual’ numbers, in effect reflecting the massive surge in interest that gold has seen in this past few weeks.
"Physical markets have done magically well in recent weeks with people from the industry commenting on the amounts of gold bought in regional markets," wrote Schubert.
"This is the new gold rush," quipped the manager of a Mall of the Emirates outlet of a major Dubai-based gold retailer, who said he did not wish to be named as he’s not authorised to talk to the media.
"We have been running out of gold coins and bars even before they reach our stores," he added. "There are people who are ‘pre-booking’ gold bars with us, and they collect it once new supply arrives," he said.
The pre-booking that the manager refers to entails customers paying a down payment, usually 10 to 15 per cent, of the price of the gold bar to reserve it for them, and then collect it when the physical bar is supplied, at the current gold rate.
"One commentator said that the physical off-take in Hong Kong has been to the tune of 30 tonnes between the April 29 and the May 2 alone," Schubert wrote in his weekly report.
To put things in perspective, Hong King gold demand for 2012 stood at 28.5 tonnes, which mathematically means about 2.4 tonnes a month. Compares with that, the 30 tonnes off-take in four days goes on to show the massive physical support that gold has at these price levels.
"Gold refineries are currently working flat out 24/7 in order to satisfy orders from all over the world," says Schubert.
"The refineries need to borrow gold from the market in order to be able to produce the small investment bars, coins, jewellery etc. However the borrowing from the gold refineries of the world do not explain the sudden rise in borrowing cost for gold, especially with the huge amount of gold liquidity (theoretically) available from the redemptions of ETF holdings. Another possibility could be that there is renewed interest from the gold producer side to re-engage in forward hedging. ‘The Return of the Hedger’ could become another classic after the near extinction of the species in the early years of this century," he added.
All this is being amplified by the gold demand from India and China – two of the world’s top gold consumers.
"Chinese gold import numbers reached record highs, with March imports from Hong Kong reaching 224 tonnes. This means that the imports for the first quarter of 2013 have reached 378 tonnes. India has also seen record import levels. April saw imports of more than 100 tonnes and the same is expected for May. However, this might be in anticipation of increased sales for Akshaya Tritiya, but possibly more so in front of the restrictions for gold imports from the Reserve Bank of India, which are expected to come into force at the end of this month. Nevertheless, both countries, i.e. India and China, are well on their way to breach the 1,000 tonne-level for physical demand in 2013," says Schubert.
The price of an ounce of gold dipped to $1,420 intra-day on Friday, May 10, 2013, the last trading of the week, but recovered to just under $1,450 per ounce after the market closed.
"Gold prices tried and failed last week again to break the initial resistance level at $1,485. This level has now been tested twice and will provide a decent resistance level for the near future," maintains Schubert.
But f demand from Dubai and Hong Kong – not to mention India and China – is anything to go by, get ready to once again buy an ounce of gold at $1,600 sooner than later.http://www.emirates247.com/markets/g...-sees-massive-
surge-in-bullion-demand-2013-05-12-1.506109
-END-
With all these record imports of gold... where is it all being exported from? What fools would be exporting their gold?
USA and London primarily. When you're bankrupt, you don't have much choice but to liquidate core holdings to settle outstanding debts. When the Chinese present US Treasuries to the LBMA window and demand gold, what will they say "we don't accept these as good credit?"Quote:
Originally Posted by Spectrism
i think China is taking a 2-pronged approach -Quote:
Originally Posted by mamboni
* they're going for the 400 ounce bars, e.g at the LBMA window
* they have buyers going around buying, well, basically, everything else.
maybe the Mexican Peso coins will finally get their due respect. i can't see the Chinese turning down 1.2057 ounce (50 peso) or .2411 ounce (10 peso) coins.
i can see counterfeits of those beautiful 50 peso coins coming out, eventually, though.
Governments are about control, not competitiveness, They fight gold is money and they cannot win in the long run. But this doesn't stop them from trying:Quote:
Originally Posted by gunDriller
India puts curb on gold imports
http://www.emirates247.com/news/region/nri-alert-india-puts-curb-on-gold...
and this:
India is desperately trying to break its gold addiction
"Such deficits mean a country is buying more from foreigners than it is selling, and by definition that means the nation has to borrow to pay for those delightful items it is shipping in. So as Indians buy more and more gold from abroad, it’s essentially driving the country into hock to foreign investors. Traditionally, that’s not a place emerging markets want to be because it exposes the economy to the threat that foreign investors yank their funding and disrupt the economy. At any rate, it remains to be seen whether the latest attempts to clamp down on India’s gold mania are going to bite. Fresh data released Monday showed gold imports surged 138% in April, as buyers there jumped on the sharp drop in prices for the metal."http://qzprod.files.wordpress.com/20...g?w=1024&h=650
I don't think that India has a current account deficit problem at all, if most of the deficit is from buying gold. They are using dollars (fake money) to buy gold (real money). It's the economists that calculate deficits, that have a problem in their head!Quote:
Originally Posted by mamboni
actually, in the long run, it's making India into a wealthier country.Quote:
Originally Posted by mamboni
the government can piss & moan about trade balances all they want, but SHIT ! the Indians are buying physical gold.
there's a whiff of Bagels coming from the Indian government ... curry bagels ?