India confiscating gold..

[chirParticipant]

Getting weird over there. They are f~~~ing up their entire economy with all these changes forced down peoples throats.

Strange times…

It is by caffeine alone I set my mind in motion, it is by the beans of Java that thoughts acquire speed, the hands acquire shaking, the shaking becomes a warning; it is by caffeine alone I set my mind in motion.

[bladeParticipant]

Very intresting read especially the end part .

THE PLANTATION HAS NOW TURNED INTO THE KILLING FIELDS . WOMAN ARE NOW ROLLING CAMBODIAN STYLE .

[The Laughing ManParticipant 1020]

“holding is limited to 500 grams per married woman, 250 grams per unmarried woman and 100 grams per male.”

Gotta make sure the wimins have some kind of value I guess.

I thought what I'd do was I'd pretend I was one of those deaf-mutes...or should I?

[AttonParticipant]

I have a feeling some of the officials will be killed.

A MGTOW is a man who is not a woman's bitch!

[hmskl’dParticipant 6406]

limited to 500 grams per married woman, 250 grams per unmarried woman and 100 grams per male

About $4000 worth .. retail .. for the guys.

During a raid, they can, on the spot, decide whether or not to confiscate a family’s gold holdings.

That’s clearly out of control. They tried that here in 1933 ‘unconstitutional executive order 6102’. It did make the 1933 Double Eagle more valuable to collectors.

[xlrsnbrgParticipant 1786]

That should be called robbery, not confiscation.

A man shouldn't make his life's objective to be on the side of the majority, but to avoid finding himself in the ranks of the insane. (Marcus Aurelius)

[LookAfter#1Participant 352]

Sounds like the Indian central bank has realised its f~~~ed and needs something solid to back it up rather than a fiat currency.
Or they’re trying to stop a run on the bank. Because there’s nothing left inside.
I find the whole idea of banks loaning out money they don’t have and fiat currency, mindblowing

[Faust For ScienceParticipant 22521]

Here is what is going on. This was all a plan to force people to put their money into the bank and suck taxes and negative interest rates from the banks.

The problem is many fold.

First, most people only have a few dollars and the economy mostly outside of the banking system.

Banning the cash that is in the market now makes that cash worthless. And the government refuses to replace that cash with the new bills, they want the wealth in the banks.

Also, the new cash is printed so badly with errors that it is hard to tell if the new currency is real or counterfeit. This makes the new cash worthless.

Tourism is dead because there is no way to exchange foreign money for domestic. Also, international trade with India should also soon come to a stop.

With no money the economy is grinding to a halt. We should start seeing food shortages in the coming weeks.

Taking all this into account. The India government confiscating gold is not surprising. Next, the government there will probably seize bank accounts and private property. All in the name of those in power trying to remain in power.

This will destroy any confidence and legitimacy the India government has.

India’s population is over 1.2 billion people.

I would guess in the coming weeks we will likely see a combination of full collapse of the nation, a military and police revolt against the standing government, a revolt by the people, and mass refugee crisis with tens of millions of India citizens fleeing the nation from all directions, with them looking for food.

And this is right in time for winder to hit in India.

[BlacqueJacqueShellacqueParticipant 6890]

Excellent post chir! I was following the Indian banking system through their banning of 500 and 1000 rupee notes. I have also read that in India people are paying as much as $3000 USD per Oz of physical gold, a far cry from what our fake future markets would have us believe it’s worth. I had not seen any info on this theft.

chir, do you follow Eric Sprott at all?

[Y_Participant 4591]

Hi Guys -how’s everyone?

There is a BIG story behind this and at the moment I am trying to get more facts.
The short form of what happened from my Indian friends in the banking sector is that the major commercial banks are all in very deep s~~~.

I mean REALLY DEEP.

In India the Reserve Bank (RBI) has stayed fully independent until a very short time ago. The former chairman Mr. Raghuram Rajan has quit the post and left India for the USA, and he is an economic guru. Under his charge the RBI refused to bail out the banks or lower interest rates as this institution was looking after the average Joe.

The BJP government under former tea-seller Modi is in the pocket of the big commercial banks (read Goldman Sachs and you get the picture).

The RBI’s new chairman is a puppet of BJP/Modi. However the RBI could not print the banks out of debt as the Indian Rupee would nosedive and crash the stockmarkets. It cannot devalue the currency for the same reason. The banks need money from the people – very quickly. India never had a US law like Glass-Steagall so the government (for the banking sector) can act as it wants.

So what do they do? A BAIL-IN is in progress. Under a pretext of fighting ‘black money’. Faust has hit the nail on the head on possible outcomes – kudos my friend.

People are seeing their bank accounts and gold disappear into government coffers. The poilce are raiding houses looking for cash / gold and carrying it away. People are dying in queues for money that will never come – I have never seen anything like this.

I expect a credit card system – cashless – is in the works.

I hope to write on this further when I have more info.

[BlacqueJacqueShellacqueParticipant 6890]

Mr. yumbo, thank you so much for elaborating on this post! I too am aware of the cashless system being implemented globally, and it looks like it starts with India. First with chipped cards, then bio-metrics, then implantable chips. Jeepers, someone really does not want any free men walking around.

[Faust For ScienceParticipant 22521]

Y_ wrote:

So what do they so? A BAIL-IN is in progress. Under a pretext of fighting ‘black money’.

I believe we are seeing more the mass theft of India’s collective wealth. We are watching those in government and banks steal everything they can and then flee the country (India).

Y_ wrote:

Faust has hit the nail on the head on possible outcomes – kudos my friend.

Thank you, Yumbo.

Y_ wrote:

People are seeing their bank accounts and gold disappear into government coffers.

George Washington said it best. “The last official act of any government is to loot the treasury.”

And this is exactly what we are seeing. And these thieves are running for the door.

Y_ wrote:

I expect a credit card system – cashless – is in the works.

That may have been the original plan. But, the situation has so far spun of control that this will not be a cashless society in that the banks will control the wealth. Instead, we will see bartering done out of survival. And however this shakes out the current bankers and the politicians will likely not be in charge.

[The Laughing ManParticipant 1020]

Was there any backlash for the note cancellation?

Seems like riots are not far off.

I thought what I'd do was I'd pretend I was one of those deaf-mutes...or should I?

[Faust For ScienceParticipant 22521]

The Laughing Man wrote:

Was there any backlash for the note cancellation?

Yes. From the few reports I have been able to find on this matter, the political backlash is only growing.

[Y_Participant 4591]

The problem with India (I was told this from an Indian friend) is that it takes a LOT for them to really do anything as all the crooks are in full control of the police and military.

People can be (and are) arrested and killed and this is a normal occurrence there I am told. I personally believe Indians will be steamrolled over. India in reality is a Police State.

There will be no external support – note that there is nothing about this in the world media. Nothing to give the game away and ALL the so-called Human Rights Groups with no peep at all.

[Faust For ScienceParticipant 22521]

Y_ wrote:

The problem with India (I was told this from an Indian friend) is that it takes a LOT for them to really do anything as all the crooks are in full control of the police and military.

Never underestimate how dangerous a food riot is.

Given the social class issues that have plague India for millennia, combined with having much of the population intentionally disposed by the nation’s government and left to starve. This is a similar set up as what start the French Revolution. Only on a far larger scale.

Y_ wrote:

People can be (and are) arrested and killed and this is a normal occurrence there I am told. I personally believe Indians will be steamrolled over. India in reality is a Police State.

In small groups that may be the case. But, when you have tens of millions of people in whole cities going hungry, the police and military realize how few they really are.

Also, the military and police have to eat. At this point, I am not sure the India politicians have a plan on how to continue to pay and feed the military, the police, and their families, so they will remain loyal to the India government.

Y_ wrote:

There will be no external support – note that there is nothing about this in the world media. Nothing to give the game away and ALL the so-called Human Rights Groups with no peep at all.

When the India refugees start fleeing India for neighboring nations, by the millions, you will see foreign nations seek to fix the problem. One way or another.

[Y_Participant 4591]

Your points well taken. Always refreshing to get your take on things.

We will have to wait and see. Meanwhile I am doing more research on this.

Stay well

[Faust For ScienceParticipant 22521]

Y_ wrote:

Your points well taken. Always refreshing to get your take on things.

Thank you. Your comments have also been very informative.

Y_ wrote:

We will have to wait and see. Meanwhile I am doing more research on this.

I agree. This mess in India is one of the major events happening in the world that people need to keep an eye on.

While the U.S. recount mess is something to pay attention too.

The potential collapse of the nation of India is a very serious matter.

Y_ wrote:

Stay well

You too, as well.

[Elric GreenstoneParticipant 1637]

My limited sense is that the Indian economy is in far, far worse shape than has been disclosed; all of your information regarding their banking system and large banks being underwater is not really a surprise. It’s always been odd to me to think of India as a nation (even more bizarre to me than the EU being anything), and I’m not particularly sure it’s a stable idea. The head thug has also been doing a variety of things (mandatory standing up for mandatory national anthem playing in theaters!) that suggest a slipping grip on the situation, a la Argentina during any number of decades or . . . the United States now.

India providing services – especially things like phone banks and random low-level IT or accounting services – always seemed *wildly* less stable to me than did China providing actual engineering and manufacturing. I’m aware that India does in fact make a lot of things, but I so rarely see their products in the West as to have just assumed that they really haven’t industrialized as quickly or efficiently as China.

I think they’ve been a train wreck for a long, long time. The Britain That Once Was did a reasonable job of running the place and trying to fairly modernize the place. I don’t think that most ex-colonies have really done better on their own. I’ve never been to India, and have only known ex-pats. The women who wind up here seem generally just completely spoiled and awful; the men seem generally to be cucks. On the other hand, I am seeing nothing like a statistical sample of their population, so who knows. I despise the racism of the caste system almost beyond belief, and get the feeling it’s been coming back at a steady pace since the Brits left / were tossed out.

I also sense a desperate inability to feed themselves as a nation, and a population that was allowed to grow way, way too quickly. Heinlein always saw any really dangerous plague as starting in India for these reasons, and I tend to agree with him. Too poor, too uneducated, too many, too few services.

Any Indians out there with thoughts on any or all of this?

"You can either love women, or understand women. You can't do both. Because once you understand women, you realize that there is really nothing to love."

[UnicronParticipant 752]

Looks like the BRICS experiment has ended in failure.

Marriage is the process of finding out what kind of man your wife would have preferred.

[Author]

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