For those who continue to listen to the mainstream media and think that gold is nothing more than a barbarous relic, then they are missing out on the explosion of gold based monetary programs that are expanding rapidly in many other parts of the world. In fact, in a comparison of two nations, one that is working hard to get gold into their hands of their people, while another is working to divest that gold to shore up their indebted banking system, the paradigm shift back into gold as money is growing incredibly fast.
When stripped of its pompous rhetoric, what India is offering is simple: a gold-for-paper exchange, which however in a culture where gold has been the definition of money for centuries, would likely be a non-starter from the beginning. One look at the chart below showing Indian gold demands is sufficient to show just how ingrained in the Indian psyche gold has become.
The one thing to watch for is a shift in the posture of the Indian government: for now participation in the gold monetization scheme is voluntary, and largely geared to the general public with the 500 gram/year limit. But if and when the Modi cabinet starts "urging" the population, and certainly when threats of fines and/or prison time emerge, that is when we will finally have confirmation that the second coming of Executive Order 6102 has arrived.
Fast forward to this weekend when while we still await the Indian government to unveil the "threats and fines" part, it started the "urging" when during an address on his monthly radio programme of "Mann Ki Baat", Indian prime minister Modi "exhorted people to help convert gold to the nation's economic strength by joining in various schemes to be launched soon" adding that "gold can be converted from dead money to an economic force. To leave gold lying as dead money is behaviour not in sync with the modern times," he said.
Still, Modi was at least truthful in noting that accumulating gold as a form of economic security is deeply rooted in India's social tradition; as a result we expect the threats of fines and incarceration to follow shortly.
For those who are unfamiliar, the Khaleej Times reminds us of the details of India gold monetization plot:
Earlier in the week, the Reserve Bank of India issued norms for implementation of the gold monetization
As for the motives, we have covered them before, but here they are again: "the objective of the scheme is to mobilize gold, give a fillip to the gems and jewelry sector by making the metal available from banks on loan and reduce the reliance on imported gold."
In other words, to take it away from the population. - Zerohedge
Like what China, Russia, and other Eastern/Eurasian countries have already discovered, gold will soon be the cornerstone of the next financial system, and India is desperate to regain their reserves after years of selling it off to their peoples. But unlike what is going on in India and in most Western banking facilities, one Middle Eastern nation is doing just the opposite, and is providing their people a way to not only buy gold conveniently and easily, but to help transition their savings into a gold backed plan.
Turkey has created ATM machines that consumers can use to purchase gold directly from their fiat money, and they have also created new savings plans where the population can trade their money for gold, and spend/save it as if it were regular money.
But since most of the world doesn't reside in Turkey, is there an alternative we can use to not only trade our currencies into gold and real money, save it outside of a banking system that could threaten their people with confiscation (As India is doing), and have access to it with the click of a mouse or swipe of a smartphone to use as we see fit?
The answer lies in a company called Karatbars.
Buying gold through Karatbars is one of the easiest things on the net. In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.
And as added perks to signing up with Karatbars, as a customer or affiliate, Karatbars is working on a new e-wallet system that functions just like an offshore bank account, and is outside the authority of the banking system. From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.
Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet. And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.
But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate. Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.
Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.
How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money? And there is never a mandatory requirement to buy beyond what you desire, on your own schedule. And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.
The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold. And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?
To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.