Twofer – Ronan Manly Discusses Central Bank Fantasies and Jayant Bhandari Discusses Indian Gold – Smuggling, Duties and Demand
TDC Note – This is a note I received from one of my closet allies.
Indian gold is $100 over world gold so smuggling must be flourishing. Bearing in mind the BullionStar interview #2 discussed last night, gold’s friends may have to put up with long periods when Indian gold activity is opaque because most demand is being met by smuggling.
From a very trusted source – the Indian interviewee (second video) said that gold import duties are being kept in place at 10% because the smugglers are paying off Govt officials because smuggling is so profitable. It’s been suggested by Brimelow independent of my thought on the matter that banks like HSBC (GLD custodian) and UBS (essentially Switzerland’s JP Morgan) are involved in the smuggling activity. Not hard to believe given that HSBC has already been caught helping drug and arms dealers launder money and fund terrorist.
BullionStar Perspectives – Interview #1
Interviewee: Ronan Manly
Title: Precious Metals Analyst, BullionStar
Topic: Central Bank Trends in 2016
BullionStar Perspectives – Interview #2
Interviewee: Jayant Bhandari
Title: Analyst, www.jayantbhandari.com
Topic: Gold Disparity in India