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Indians Who Bought Gold, Won. Those Who Didn’t, Lost.

Written by Gary North on August 29, 2013

A great article by Grant Williams traces the decline of India’s rupee. The idiot Keynesians who ran the Bank of India destroyed the rupee.

In India, fathers buy gold for their daughters’ dowries. They don’t buy rupees.

India put a tax on gold imports in a vain attempt to save the rupee. It didn’t work.

The government hates it when Indians buy gold. This shows a lack of faith in the government. That lack of faith is well deserved.

The government said that Indians who bought gold were making a big mistake. But it turns out that Indians who trusted the government’s rupee made the big mistake. Those who bought gold are sitting pretty.

If you think it can’t happen here, you could wind up like all those Indians who have lost a quarter of their wealth in recent months. They believed their government. Silly them.

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10 thoughts on “Indians Who Bought Gold, Won. Those Who Didn’t, Lost.

  1. It's time to stock up on ammo and food ,,,,,,,,,

  2. Rabelrouser says:

    Commodities, food, water, ammo toilet paper, all have a greater value when the false currencies fail to hold their presumed value; and eventually crash. Holding gold and silver only allows for a form of wealth when the shooting stops.
    Its always nice to trade false currency (dollars) for that of real value (gold and silver). But soon it will be better trading a roll of toilet paper for a meal, or visa- versa.

  3. Idiot and Keynesian are redundant terms. I swear the only reason Keynesian economics got so popular was that it fit the liberal agenda and it is simple. I find that liberals don't do complicated very well. See my blog at http://cranky-conservative.blogspot.com

  4. I agree with half of that, not the other half. It's definite that Keynesianism is what the people in government want to hear…spend, spend, and spend some more. That is no doubt the reason it became so popular. But I find it to be much more complicated – at times, intentionally complicated, as the "syntax destruction" of Greenspan proves – than Austrian economics. Austrian economics is based on logical argument from a priori statements, and any educated adult can follow it. It takes several degrees and an ability to wade through the intentionally boring to understand other forms of economics.

  5. I'm with you. We converted much our cash savings into hard assets like ammunition, firearms, food, heirloom seeds, and other barter items. We do have some cash and silver coins on hand but don't expect them to be useful short to mid-term if TSHTF. We are about to spend the last of our savings on a chunk of arable in the middle of nowhere so we can start growing our own food crops and build a place to move out of the city, hopefully before things go south. Gold and silver are better than cash/stocks/bonds, but start with getting whatever you need to be self-reliant first.

  6. Well, it satisfies the idiot liberal obsession with regulation and welfare and it satisfied the crazy right's obsession with endless war. The stupidity of these morons is beyond belief.

  7. Rabelrouser says:

    I find more who are taking on this preparedness footing now, as the numbers of those who I teach has grown in the recent months. Being prepared for an uncertian future allows for a survival during chaotic times. The present economy, and the verbage of the government lend creedence to the need to be prepared, at least for those who can actually see what is transpiring.
    Forming community is also a must in preparedness, this for safety and security. The ability of one is multiplied and the load of survival is covered in a greater realm. This also creates a community which will work together for the common good in the restoration in the future.
    Those who can not, or will not take the time to understand the false economics and currency of this nation are doomed to be victums, the bigger problem will be those are the ones who we will have to protect ourselves from when the chaos starts; they will want what we had the knowledge and foresight to store.

  8. Rabelrouser says:

    Keynesian economics is the ideaological basis for the system that we have under the Federal Reserve. The concept always starts will "borrowing" money to fund different programs, wars and other manufactured expenditures. All based on worthless currency with no value.
    It is a well thought out process that over time is designed to collapse an economy, which gives the central banking systen total control.
    Yes idiots ( or maybe shrewd intellegence) adopted the program to further their cause, but this is not a new "theory" of banking or monetary manipulation. By controlling all aspects of an economy, and createing the need for expenditures (real or imagined) the debt becomes a burden that can not be controlled, not to mention the interest that is compounded that increases that debt. It will come down to: you owe, so pay me, if you cant, I will take that which is of real value. Problem is, this nation has nothing of real value any more; So they control the nation in toto.

  9. I think you meant borrow, spend, borrow, spend more, borrow more, and then borrow and spend into oblivion.

  10. Rabelrouser says:

    Just a thought, or, maybe a more pointed question: does this mean the people of India understand the fiat currency system of their nation, and what it is doing to their nations economy, better than the American citizens do of their's?