Falling gold price boosts Indian gold demand

by Jeff Nielson, Bullion Bulls Canada Once upon a time; news such as the title of this post was a silver-lining/ray of hope to console us, each and every time the banksters conducted another one of their attacks on the gold (and/or silver) market. Then came the banksters latest scheme, as detailed in yesterday’s commentary: The One Bank rescinded its embargo, but “something” had to be done about India, or the $1,200-level would be an absolute floor for the price of gold. Then the banksters hatched a scheme which was diabolical in its simplicity. They would trick the people of India into handing their gold (effectively) to the banksters. The English translation of this scam is the “gold monetization scheme” as even the bankers themselves couldn’t think of any more legitimate-sounding terminology for this massive theft than a “scheme”. The (surface) mechanics of the scam are simple. Indians “deposit” their gold with India’s (corrupt) government. It “lends” this gold to India’s jewellery-makers, who then “pay interest” on this deposited gold back to the Chumps. The fact that this is an obvious fraud should be immediately apparent to any/all Western readers. All they need to do is recall a tautology constantly hurled at us by the bankers, to try to discourage us from accumulating gold (or silver). Gold generates no income. It is a hard asset. It preserves wealth, but does not multiply it. So how can India’s jewellers (or anyone else) “pay interest” on something that generates no income. Where does the interest come from? But that is merely the first (obvious) question which anyone – not blinded by their own greed – would ask themselves, as they contemplated this fraud. A second, obvious question immediately surfaces. What do India’s jewellers plan to do with the gold that they have “borrowed”? Bakers bake. Bankers commit fraud. Jewellers make jewellery. Any moderately precocious five-year-old would immediately know what India’s jewellers plan to do with all the gold they are “borrowing”. They will make it into jewellery. Then they will sell the jewellery. Then the “borrowed” gold will be gone forever. Thus, assuming that India’s “Gold Monetization Scheme” (scam) becomes a reality; we are faced with this new, ludicrous scenario. As the bankers push the gold price lower and lower; Indians will BUY significantly greater quantities of gold, and then immediately turn around and GIVE AWAY larger amounts of their gold. For as long as this fraud is able to endure (i.e. until some child in India points out that “the Emperor is wearing no clothes”); this is a gold-fraud which makes all of the One Bank‘s other gold-frauds (even its “bullion-ETF’s“) look clumsy and inefficient, in comparison. Buy your gold, but don’t keep it. Immediately put in a bank, where you can “collect interest” on it (lol!). The people of India should have asked the people of Greece about the wisdom of trusting any sort of “bank” (government, or otherwise) to hold their valuables… P.S. Note the other point of interest. The article points out how people in the East prefer to buy their gold (and silver) when prices are LOWER (and the metal is thus cheaper). Clearly the implication in this article is that this is “strange behavior” (by Western standards). It also said that fall in the gold prices are not universally perceived as “negative”. Yes, what could be stranger than “buy low, and sell high”. Once upon a time; people in the West used to be “strange” like that as well. Then we learned better. Now the Western Herd only buys things that are already expensive, as directed by their Herd Masters (in the banks and media). And then after “buying high”; Western sheep then (inevitably) sell low, when the banksters crash the markets — the “perfect” way for sheep to behave (in the eyes of the banksters, and other parasites who shear them). Buffett Sits on $50 Billion Cash-Hoard, Waiting for Bubbles to Pop Falling gold prices boost demand in India: WGC www.business-standard.com/article/pti-st…-115072301473_1.html A fall in gold prices has boosted demand in India, the world’s second largest consumer, despite the summer months being a traditional quiet period, World Gold Council (WGC) said today. It also said that fall in the gold prices are not universally perceived as “negative”. According to WGC, gold prices have fallen by 3.2 per cent in India, 3.6 per cent in China and 1.2 per cent in Turkey. “Here, consumers will view lower prices as a buying opportunity,” it said in its market report…

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