With Russia entering into the conflicts of the Middle East over the past six month, and nations waking up to the real reasons behind regime overthrows in Libya, Syria, and the Ukraine, the Western banking system is attempting new schemes to try to separate gold from the people as currencies devalue to the point for the need of new monetary policies.
Two such schemes that we have mentioned before at The Daily Economist involved the nations of Turkey and India, with both offering interest bearing funds to those who allow the government or the banks to store their gold in their possession. But as billionaire metals manager Eric Sprott's publication intoned on Jan. 5, these seemingly 'innocuous' programs are really all about using paper money as an enticement to grab your gold and funnel it upwards where the elite are buying it en masse in preparation for what is coming.
In previous commentaries , readers were warned that Western bankers were once again targeting the gold market of India with more of their fiendish plans. This time, they convinced (bribed?) India’s new, corrupt government – the Modi regime – into orchestrating a scheme to steal the gold from its own people.
The nexus of this scam was what was announced as “the gold deposit scheme.” Even the Conspirators themselves were unable to come up with a name to make this naked fraud sound legitimate. The fraud itself is simple, indeed utterly simplistic. Indians “deposit” their gold into the clutches of their thieving government and are paid (paper) “interest” on those deposits. The fact that this was a naked fraud was immediately apparent. As the bankers tell us all the time, “gold generates no income.” How could India’s government pay the interest on the gold coins/bars/jewelry sitting in its vault supposedly held in trust for its depositors? There was no immediate answer to that question, because there could be no (legitimate) answer to the question. Indeed, in legitimate bullion storage arrangements, depositors pay a fee to have their bullion safely stored for them, because while the gold generates no income, the costs of storing such gold are significantly greater than zero.
Finally, reluctantly, the Conspirators made explicit what was already totally obvious: The deposited gold will be auctioned off from time to time to meet domestic demand for jewellery and coins. [emphasis mine] The scam was now completely exposed.
a) Indians “deposit” their gold.
b) Indians receive (paper) “interest” on their gold while their deposited gold is sold off.
c) Indians end up with the paper interest – and no gold.
d) India’s jewellers and coin-makers then sell the gold they purchased at these auctions back to the same Chumps who originally deposited that gold. - Sprott MoneyEarlier we mentioned the country's of Libya, Syria, and Ukraine as being tied to Western gold grabs, and all one has to do is look at the new rules, policies, and actions that were done by both the U.S. and the City of London to restrict one country from ever retrieving their gold stored in Western vaults, and in the case of Ukraine, outright steal it under the cover of night.
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And there is no fear of government confiscation, or losing your gold to any 'schemes' that sounds good on the surface like the one being offered in India.
As the world rushes towards its next major recession, and banks and governments relegate themselves to programs that co-opt people's wealth into the hands of a select few, there is an alternative that can not only protect your current wealth in the world's most stable form of money, but also allow you to increase it through the simple fruits of your labor, and mathematical certainties.
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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?
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