Showing posts with label buy gold. Show all posts
Showing posts with label buy gold. Show all posts
Thursday, August 7, 2014
Friday, January 3, 2014
Thursday, August 29, 2013
India might buy gold from citizens to ease rupee crisis
Firstly, India has a severe current account deficit because they import more goods and services than they export (see the US, UK, Japan). As long as the country spends above their means, they will continue to run a deficit. Secondly, Indian citizens are importing gold in record amounts due to the Rupee rapidly losing its currency exchange value from the government's overspending. This should sound familiar to most western developed economies.
Indians are merely buying gold to protect their purchasing power against a sinking currency, issued by an increasingly profligate sovereign currency printing press. The public has been doing this for centuries, as the country has been afflicted by incompetent and corrupt governments since recorded history. Buying gold for Indians is beyond cultural--it's in their DNA.
Due to prodding from the Fed and Bank of England, the Indian government has attempted to discourage the importation of gold by its citizens, but raising the import tax five times to 10% has not deterred citizens from importing gold. If anything, the government's strategy has backfired, as soaring demand has been met by record smuggling.
It is indeed tragically sad that India's government is attempting to impoverish its own citizens due to pressure from central bankers in the UK and the US. Apparently, India still acts like a British colony.
http://www.reuters.com/article/2013/08/29/us-india-economy-gold-idUSBRE97S0IW20130829
Indians are merely buying gold to protect their purchasing power against a sinking currency, issued by an increasingly profligate sovereign currency printing press. The public has been doing this for centuries, as the country has been afflicted by incompetent and corrupt governments since recorded history. Buying gold for Indians is beyond cultural--it's in their DNA.
Due to prodding from the Fed and Bank of England, the Indian government has attempted to discourage the importation of gold by its citizens, but raising the import tax five times to 10% has not deterred citizens from importing gold. If anything, the government's strategy has backfired, as soaring demand has been met by record smuggling.
It is indeed tragically sad that India's government is attempting to impoverish its own citizens due to pressure from central bankers in the UK and the US. Apparently, India still acts like a British colony.
http://www.reuters.com/article/2013/08/29/us-india-economy-gold-idUSBRE97S0IW20130829
Wednesday, July 31, 2013
Friday, June 14, 2013
Monday, May 27, 2013
Saturday, May 11, 2013
Friday, April 19, 2013
Thursday, April 18, 2013
Switzerland To Buy A Stunning 1,000 Tons Of Physical Gold?
The Swiss have a reputation of being staid, conservative bankers. In fact, they have been the private banker to the world for centuries.
Yet, they are fallible. Swiss banks revealed private client information to the US, German and French governments in 2009, breaking Swiss banking laws.
The Swiss National Bank has sold gold into the market over the last couple decades. It is indeed ironic that the Swiss have been net sellers of gold, given 75% of the world's gold refiners are in Switzerland.
And due to a soaring Swiss Franc, the Swiss National Bank has joined the currency war of devaluation in an attempt to stimulate their economy.
These policies are all antithetical to Swiss banking traditions. This explains their attempts to reverse said policies.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/18_Switzerland_To_Buy_A_Stunning_1%2C000_Tons_Of_Physical_Gold.html
Yet, they are fallible. Swiss banks revealed private client information to the US, German and French governments in 2009, breaking Swiss banking laws.
The Swiss National Bank has sold gold into the market over the last couple decades. It is indeed ironic that the Swiss have been net sellers of gold, given 75% of the world's gold refiners are in Switzerland.
And due to a soaring Swiss Franc, the Swiss National Bank has joined the currency war of devaluation in an attempt to stimulate their economy.
These policies are all antithetical to Swiss banking traditions. This explains their attempts to reverse said policies.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/18_Switzerland_To_Buy_A_Stunning_1%2C000_Tons_Of_Physical_Gold.html
Saturday, June 30, 2012
Saturday, March 24, 2012
Gold loses lustre in face of US recovery
http://www.ft.com/intl/cms/s/0/9b019fe8-7438-11e1-9e4d-00144feab49a.html#axzz1pv3aujJb
Well, London's Financial Times just declared the end of gold's 11-year-old rally, and therefore the price of gold should now plummet. In other words, they're warning us to "sell, sell, sell!"
I'm leaning towards buying this dip.
Well, London's Financial Times just declared the end of gold's 11-year-old rally, and therefore the price of gold should now plummet. In other words, they're warning us to "sell, sell, sell!"
I'm leaning towards buying this dip.
Sunday, May 22, 2011
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