Gold World News Flash |
- BIG MOVEMENT AHEAD IN THE SILVER MARKET… Serious Trouble In The Paper Markets
- US-UK Trade Talks To Begin Immediately In Defiance Of EU Rules: What's Trump Up To?
- Silver Speculators Gone Wild, Report 29 Jan, 2017
- How Long Can China's Debt Continue To Grow Before A Systemic Crisis Strikes?
- The Markets Will Collapse As Economic Realities Sink In
- GoldSeek.com Radio: Ralph Acampora and Bill Murphy, and your host Chris Waltzek
- Analysis Of Gold Is Much Ado About Nothing
- NYC Plans New Facial Recognition Cameras At Bridges, Tunnels (& Here's How To Dodge Them)
- Sunken British warship laden with gold to be raised 250 years after battle
- Avery Goodman: 729% increase in Comex gold deliveries in January
- The Truth About Trump's 'Muslim Ban'
- Peter Schiff Warns : Prepare For The Imminent Global Economic Collapse 2017 Stock MARKET CRASH!
- Remember Greece? It's still as insolvent as ever ...
- Stocks have lost 63% against gold since 2000, von Greyerz notes
- Gold is worlds ultimate currency, former Indian central banker says
- Gold Market Charts – January 2017
- From Bullion Star, gold market charts for January
- Future Silver Supply Will Be More Vulnerable Than Other Metals
- John Rubino: Are We Facing A Greater Depression or Weimar Germany?
- Guyana gold miners threaten to protest, reduce declarations amid new tax measures
- Gold is world's ultimate currency, former Indian central banker says
- Breaking News And Best Of The Web
BIG MOVEMENT AHEAD IN THE SILVER MARKET… Serious Trouble In The Paper Markets Posted: 30 Jan 2017 01:30 AM PST Gains Pains & Capital |
US-UK Trade Talks To Begin Immediately In Defiance Of EU Rules: What's Trump Up To? Posted: 30 Jan 2017 01:00 AM PST Submitted by Mike Shedlock via MishTalk.com, Congratulations to UK prime minister Theresa May for poking a finger into the eyes of EU nannycrats. EU rules say members cannot negotiate trade deals until exit from the block is finalized, but you can kiss that rule goodbye. The Wall Street Journal reports British PM Theresa May Says U.K.-U.S. Trade Talks to Begin Immediately.
Testing the Limits or Clear Violation? It’s hard to say why Theresa May cozied up to Erdogan (simple defiance of the EU? NATO?) , but it makes sense to start trade negotiations with the US now. Working out a deal now to be signed the moment Brexit is official seems more like a violation of rules as opposed to “testing the limits”. Regardless, what the hell can the EU do about it? Yesterday, the Financial Times reported Theresa May will not find it easy to broker a US-UK trade deal … “British agriculture and financial services may suffer at hands of Capitol Hill”. That all depends on what Trump’s primary motive is doesn’t it? If Trump wants to assist in the collapse of the EU, he might be willing to give the UK a very favorable deal. |
Silver Speculators Gone Wild, Report 29 Jan, 2017 Posted: 30 Jan 2017 12:02 AM PST Monetary Metals |
How Long Can China's Debt Continue To Grow Before A Systemic Crisis Strikes? Posted: 29 Jan 2017 11:54 PM PST Nearly three years ago, Morgan Stanley may have jumped the shark (a little) when its strategists Cyril Moulle-Berteaux and Sergei Parmenov declared that China's Minsky Moment has arrived. While that may have been partially true, the fact that China managed to incur an additional $12 trillion in total debt in the interim period, suggests that Beijing at least managed to postpone the inevitable. And since in the 3 years since little has changed, questions about how much longer the Chinese debt-fueled growth "farce" can continue have once again emerged, in their latest incarnation courtesy of UBS, whose economist Tao Wang asks "How long can debt continue to grow before a Minsky moment or systemic debt crisis?" Here is the proposed answer:
However, while a conventional debt crisis may be avoidable, UBS admits that ever-rising debt is problematic even if problems do not manifest themselves in a crisis.
How will this debt cycle play out and what to watch?
So while on net UBS is not yet sounding the alarm on the imminent bursting of the world's biggest debt bubble, here are the four warning signs investors should watch for when it comes to China:
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The Markets Will Collapse As Economic Realities Sink In Posted: 29 Jan 2017 09:03 PM PST Well the final data is in and Janet Yellen’s “hot” economy is a disaster. The US finished 2016 with GDP growth of 1.6%. This is flat out embarrassing. And it confirms what we have suspected all along: that the 3Q16 numbers were completely fabricated in an excel spreadsheet for political purposes. |
GoldSeek.com Radio: Ralph Acampora and Bill Murphy, and your host Chris Waltzek Posted: 29 Jan 2017 09:00 PM PST Top Wall Street Chartered Technical Analyst (CTA), Ralph Acampora of Altaira Wealth Management returns with his outlook on US equities and the PMs. With the Dow Jones Industrials over 20,000, a new record, our guest outlines why stocks could still be undervalued by 10% and even surprise the bulls. Bill Murphy of GATA.org and the host discuss the prospects for the PMs sector in 2017. According to Bix Weir, a 1/1 gold / silver ratio is merely a matter of time as emerging technologies increasingly rely on silver. |
Analysis Of Gold Is Much Ado About Nothing Posted: 29 Jan 2017 08:47 PM PST Any analysis of gold must have a correct premise. And terms used in that analysis must be clearly understood. For example… “Are you pro-gold?” Just exactly what does that mean? Is it a political or moral issue? In other words, does someone’s position on gold indicate ideology or lifestyle choice? Can a political liberal be pro-gold? And if someone answers the original question in the affirmative, does that mean they are anti-something else? |
NYC Plans New Facial Recognition Cameras At Bridges, Tunnels (& Here's How To Dodge Them) Posted: 29 Jan 2017 06:35 PM PST The state of New York has privately asked surveillance companies to pitch a vast camera system that would scan and identify people who drive in and out of New York City, according to a December memo obtained by Vocativ. As big brother tactics continue to creep quietly into Americans' everyday lives, here are six ways to dodge biometric verification... As Vocativ.com reports, the call for private companies to submit plans is part of Governor Andrew Cuomo’s major infrastructure package, which he introduced in October.
New York City wouldn’t be the first in the U.S. to have a network of facial recognition cameras for law enforcement. In 2013, for instance, the Los Angeles Police Department admitted it had deployed 16 cameras equipped with face recognition software, designed to search for particular suspects. If all of this big brotherly love is too much for you, Jeremiah Johnson (nom de plume of a retired Green Beret of the United States Army Special Forces) explains, via ReadyNutrition.com, how you can dodge facial recognition software... Helen of Troy, according to the Odyssey, was “the face that launched a thousand ships,” prior to the Greek invasion of Troy. You and I, on the other hand, are the faces that launch an army of CCTV cameras ready to capture our images when we walk past them. ReadyNutrition Readers, we just covered winter camouflage tips and techniques. Camouflage is an important part of your prepping, in terms of being able to effectively hide yourself and your supplies from prying eyes. One of the biggest problems that we encounter is not blending in with the terrain in a wilderness environment, however, but what we face in an urban and suburban environment. As mentioned in previous articles, you have to camouflage in accordance with the environment you find yourself within. It would not be intelligent to stroll down the sidewalk of Hollywood Boulevard dressed up in Realtree-patterned garb with a holstered sidearm and a hunting knife. You would undoubtedly be “noticed,” and probably take a ride in a black and white, courtesy of the police department. There’s an article that gives some very stark details about the 250 million security cameras in existence throughout the world. The article entitled “Opinion: Facial recognition will soon end your anonymity,” written by Tarun Wadwha on 6/4/2016 explains this in detail and how new developments in software and the ever-growing number of cameras everywhere are reducing your chances to remain anonymous. Chances are that your face has already been scanned and entered into a database without your knowledge. Knowing these things, there are a few measures that we can take…and these are directed toward urban and suburban dwellers to give them an edge. What these Statists are trying to do is to create a “map” of where you are and what you’re doing, along with the times and dates of your activities. Go and see (or rent out) the latest “Jason Bourne” movie to really get a feel for the intricacies of how these Law Enforcement agencies, the government, and other interests utilize the public domains to tie into their surveillance of you and your family. 6 Ways to Dodge Biometric VerificationHere are some things you can do, and keep in mind to help lower your signature:
Another big problem to overcome with all of this surveillance is the fact that most people have their constantly clicking and snapping little phone-cameras to take pictures of every single thing on the planet within their “biome,” and it’s these individuals who serve as “silent witnesses” to help the surveillance state gather as much info as they can. In addition, let’s not forget that every photo you post, twitter, place on Facebook, or download in any capacity does indeed become “scarfed up” by the government. That $50-billion-dollar facility in Utah wasn’t built to help out Olan Mills with their photography work. Be aware, and not just of others but of yourself. Reduce the “footprint” you put out by learning where the cameras are where you work and on your trips back and forth to your house. Disable the little camera-dot on the top edge of your laptop with 2 layers of aluminum HVAC duct tape pieces. Disable the microphone within it as well. Bottom line: you have to pull security for yourself and on yourself to reduce the chances of them cataloguing your every move. Don’t give them what they need to build up their files. We are entering into a phase in our country with a moment of decision to come with the U.S. elections. Martial law is always just around the corner, waiting to be inflicted on us. These are techniques you’ll have to incorporate into your daily routine and they’ll take some practice. Awareness and the ability to act on what is happening around you are the keys you’ll need to be able to make it all work. We’d like to hear any suggestions you have on the matter that may work for others. Keep fighting that good fight, and stay away from those cameras! |
Sunken British warship laden with gold to be raised 250 years after battle Posted: 29 Jan 2017 05:56 PM PST By Abigail O'Leary A sunken British warship wrecked off the coast of South America is due to see the light of day once again -- along with L1 billion in gold coins. The Lord Clive was blasted by cannon fire in 1763 after an attempt to reclaim Uruguay's Colonia del Sacramento, a former British colony that had been seized by the Spanish. While Captain Robert McNamara planned to launch his attack and take over the city at the end of the Seven Years' War, Spanish forces were secretly planning a counterattack. A battle saw the Lord Clive blasted to pieces and 272 of its crew killed. ... ... For the remainder of the report: http://www.mirror.co.uk/news/world-news/sunken-british-warship-1-billion... ADVERTISEMENT USAGold: Coins and bullion since 1973 USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business. Please call 1-800-869-5115x100 and ask for the trading desk, or visit: USAGold: Great prices, quick delivery -- all the time. Join GATA here: Dollar Vigilante Internationalization and Investment Summit Mining Investment Asia Mines and Money Asia * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: |
Avery Goodman: 729% increase in Comex gold deliveries in January Posted: 29 Jan 2017 05:04 PM PST 8:04p ET Sunday, January 29, 2017 Dear Friend of GATA and Gold: Delivery on Comex gold futures contracts in January increased 729 percent over deliveries last January, securities lawyer and market analyst Avery Goodman writes tonight, adding that the use of the U.S. gold reserve for price-suppression purposes likely will end this year. Goodman's commentary is headlined "Comex Physical Gold Deliveries Rise 729% Year over Year" and it's posted at his internet site here: http://averybgoodman.com/myblog/2017/01/29/comex-physical-gold-deliverie... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata Join GATA here: Dollar Vigilante Internationalization and Investment Summit Mining Investment Asia Mines and Money Asia * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: |
The Truth About Trump's 'Muslim Ban' Posted: 29 Jan 2017 03:31 PM PST We just want to protect our borders. We don't want to end up like Europe , But I can't take this ban's justification seriously if Saudi Arabia's not on it. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free... [[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://www.figanews.com for full links, other content, and more! ]] |
Peter Schiff Warns : Prepare For The Imminent Global Economic Collapse 2017 Stock MARKET CRASH! Posted: 29 Jan 2017 02:06 PM PST Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call... [[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://www.figanews.com for full links, other content, and more! ]] |
Remember Greece? It's still as insolvent as ever ... Posted: 29 Jan 2017 01:54 PM PST ... and unlike the United States, it can't just print the world reserve currency. * * * IMF Warns that Eurogroup Loan Measures Are Not Enough for Greek Debt By Eleni Chrepa and Andrew Mayeda Greece's public debt and financing needs will prove "explosive" in decades to come unless Europe overhauls its bailout program to ease the load, the International Monetary Fund says in a draft report as the country seeks a fresh loan payout. In the IMF's baseline scenario, Greece's government debt will reach 275 percent of its gross domestic product by 2060, when its financing needs will represent 62 percent of GDP, the report obtained by Bloomberg says. The government estimates public debt around 180 percent of GDP at present. The European Union's view of the evolution of Greek debt is "more benign" and based on "significantly more optimistic assumptions," the IMF notes. The document also says some Greek debt proposals by euro-area finance ministers "are not specific enough to enable a full assessment" of how they would affect sustainability. ... ... For the remainder of the report: https://www.bloomberg.com/news/articles/2017-01-28/imf-warns-eurogroup-l... ADVERTISEMENT At 3 Aces Project, Golden Predator Finds 7.5 Meters of 33 Grams-Per-Tonne Gold Company Announcement Thursday, January 19, 2017 VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon Territory. Drilling has demonstrated an extension of high-grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones. Significant results reported at true width include: -- Hole 3A16-RC-032 intersected 7.54 meters of 32.86 grams per tonne gold from a depth of 16.76 meters, including 0.54 meters of 252 grams per tonne gold; and a new blind vein at a depth of 71.63 meters returned 3.23 meters of 10.04 grams per tonne gold. (The hole ended in mineralization. ... For the remainder of the announcement: http://www.goldenpredator.com/_resources/news/nr_2017_01_19.pdf Join GATA here: Dollar Vigilante Internationalization and Investment Summit Mining Investment Asia Mines and Money Asia * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: |
Stocks have lost 63% against gold since 2000, von Greyerz notes Posted: 29 Jan 2017 01:47 PM PST 4:48p ET Sunday, January 29, 2017 Dear Friend of GATA and Gold: Gold fund manager Egon von Greyerz, interviewed by King World News, notes that since 2000 U.S. stocks have lost 63 percent against gold. An excerpt from the interview is posted at KWN here: http://kingworldnews.com/greyerz-we-now-have-the-perfect-recipe-for-a-gl... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Storage and Withdrawal of Gold with Bullion Star in Singapore Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore. Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore. Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive. For more information, please visit Bullion Star here: Join GATA here: Dollar Vigilante Internationalization and Investment Summit Mining Investment Asia Mines and Money Asia * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: |
Gold is worlds ultimate currency, former Indian central banker says Posted: 29 Jan 2017 01:10 PM PST GATA |
Gold Market Charts – January 2017 Posted: 29 Jan 2017 08:30 AM PST This post features the latest versions of a selection of gold market charts created by the GOLD CHARTS R US website that have been chosen so as to capture gold demand, supply and physical movement data across some of the world's major gold markets. These include charts of Shanghai Gold Exchange physical gold withdrawals, Swiss gold export and import statistics, and Russian gold reserve changes. |
From Bullion Star, gold market charts for January Posted: 29 Jan 2017 08:28 AM PST 11:29a ET Sunday, January 29, 2017 Dear Friend of GATA and Gold: With some charts from Gold Charts R Us, Bullion Star today details gold demand and movement around the world, indicating that the monetary metal is a lot more popular than GFMS would have you believe. Bullion Star's analysis is headlined "Gold Market Charts -- January 2017" and it's posted here: https://www.bullionstar.com/blogs/gold-market-charts/gold-market-charts-... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT K92 Mining Drills Multiple High-Grade Gold Intersections Company Announcement K92 Mining Inc. (TSXV–KNT) announces the latest results from the ongoing grade control drilling program at its high-grade Kainantu Gold Mine in Papua New Guinea. K92 is ramping up the Kainantu gold mine toward commercial production, with its longest continuous production run to date now commenced. In September 2016 K92 began a campaign of close-spaced underground diamond drilling as part of a comprehensive grade-control strategy. The current grade-control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed-space drilling pattern of approximately 15 metres by 15 meters has significantly increased the confidence in this sparsely drilled area, with most holes recording high-grade intersections. Approximately 80 percent of the holes completed to date have recorded multiple high-grade intersections indicating the presence of multiple parallel to sub parallel high-grade veins. ... ... For the remainder of the announcement: http://www.k92mining.com/2017/01/k92-drills-multiple-high-grade-gold-int... Join GATA here: Dollar Vigilante Internationalization and Investment Summit Mining Investment Asia Mines and Money Asia * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: |
Future Silver Supply Will Be More Vulnerable Than Other Metals Posted: 29 Jan 2017 08:10 AM PST There has been a lot of discussion on the remaining global supply of certain precious metals on the alternative media. I continue to read articles that state there are only ten years worth of silver remaining. Unfortunately, many of these figures are inaccurate. So, I thought I would provide an update based on recent USGS – United States Geological Survey data and information. |
John Rubino: Are We Facing A Greater Depression or Weimar Germany? Posted: 29 Jan 2017 08:03 AM PST As this charade continues to bear down on our economies, our communities and our lives we are left with very simple options – accept the reality of what is happening and begin moving some funds into gold and silver or ignore what is happening and be swept away by the money-junkies and their failure to do the right thing and allow the system to clean itself out through debt default of the too big to jail banks. |
Guyana gold miners threaten to protest, reduce declarations amid new tax measures Posted: 29 Jan 2017 07:48 AM PST By Denis Chabroi Miners under the umbrella of the Guyana Gold and Diamond Miners Association on Friday warned that they would halt gold mining, reduce declarations, and stage a countrywide protest if President David Granger fails to meet with them within two weeks and address their concerns about heavy taxation. "The main problem we have to accept is that the government does not respect this industry at the present time," said association consultant Tony Shields, reflecting that miners' representatives met Granger only once, in December 2015. Shields charged that meeting with government ministers has turned out to be a waste of time, just photo opportunities, and the time has come for the Guyanese leader to have a big meeting with the miners rather than just the executive. Nearly all the more than 100 attendees raised their hands in support of a protest. ... ... For the remainder of the report: http://demerarawaves.com/2017/01/28/gold-miners-threaten-to-protest-redu... ADVERTISEMENT USAGold: Coins and bullion since 1973 USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business. Please call 1-800-869-5115x100 and ask for the trading desk, or visit: USAGold: Great prices, quick delivery -- all the time. Join GATA here: Dollar Vigilante Internationalization and Investment Summit Mining Investment Asia Mines and Money Asia * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: |
Gold is world's ultimate currency, former Indian central banker says Posted: 29 Jan 2017 07:19 AM PST Central bankers can tell the truth but only when they retire. * * * Time for a Comprehensive Gold Policy, Former Indian Central Banker Says From the Press Trust of India http://economictimes.indiatimes.com/news/economy/policy/time-to-come-out... HYDERABAD, India -- Former Reserve Bank Governor Venugopal Reddy said today the government needs to come out with a comprehensive gold policy owing to the metal's role in the economy and to start handling the precious metal in a better way. Speaking at ongoing Hyderabad Literary Festival here, Reddy also said it was the confiscated gold from smugglers that was pledged in the international market to tide over the country's balance of payments crisis in 1990. ... Dispatch continues below ... ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata "It is time we have a positive approach to policy for gold. There must be positive comprehensive gold policy and I believe it is so important for the economy because so many people are dependent on it," he said. "Crores of rupees are traded in the market -- so many are consumers, so many are producers -- and the linkage it to financial sector is increasing. Therefore, it is time for the government to think of issuing a white paper on a positive, comprehensive policy for gold," Reddy said in his speech, which was titled "Gold -- Black, White, and Yellow." He said that in 2015-16 for the "first time" there was some positive signal from the government's side in regard to gold. According to Reddy, launching a gold scheme and making a permanent account number number (PAN) compulsory for purchases of gold jewellery worth more than Rs 2 lakh shows the seriousness of the government in making the making gold a commodity. "We also found that the gold jewellers were asked to provide PAN details of consumers who bought jewellery worth more than Rs 2 lakh so that it can be tracked. Recognition of gold as a commodity or something is important that public policy cannot ignore. These are signs of positive policy," he opined. Recalling the experiences faced in 1990 in the balance-of-payments crisis, he said the government had very little gold of its own and most of the metal put out in the international market was seized from smugglers. "The government of India had leased gold to the State Bank of India" (during the 1990 crisis). "How did the government of India come into possession of gold? Most of the gold was confiscated from smugglers. So the smuggled gold, the confiscated gold, came in handy," Reddy said. "Smugglers also helped us to get over the balance-of-payments crisis," he said in a lighter vein. He maintained that gold is the ultimate currency in the world, though domestically possessing it is part of Indian culture and for women it acts like insurance. Join GATA here: Dollar Vigilante Internationalization and Investment Summit Mining Investment Asia Mines and Money Asia * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: |
Breaking News And Best Of The Web Posted: 29 Jan 2017 01:37 AM PST US stocks mixed, gold and silver near three-week low. President Trump begins with flurry of changes to Obamacare and NAFTA, meets with UK prime minister and speaks to Mexican president, plans summit with Putin. Global debt continues to soar, especially in China. Fake news debate rages. Marine Le Pen catches a break. Best Of […] The post Breaking News And Best Of The Web appeared first on DollarCollapse.com. |
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