It seems the modest goal of the western oligarchs is to harvest (i.e. confiscate) at least 10% of In
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 naiveté, 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 three-quarter 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.
Read more: Gold-Confiscation Coming To India?