Submitted by SD Contributor SRSrocco
Indians should reduce gold tributes to God – RBI Deputy Governor
‘In order to keep gold prices under check, the practice of giving gold as dowry or as an offering at religious places must be curbed, as should gold jewellery purchases, suggests a senior official at India’s central bank.’
These are the sort of TRICKS those in high places in govt have to resort to in the GREAT BAMBOOZLE. We can also see how Chakrabarty has taken the WARREN BUFFET GOLD PLAYBOOK…. HOOK, LINE AND SINKER.
I find it simply amazing that these clowns have nothing better to do than try and resist the natural forces of gravity…. complete folly in my book. I believe the Indian public is probably a great deal more aware of the merits of REAL MONEY, than the Royal Bank of India’s Deputy Governor and his crew of orthodox accountant cronies.
From (MINEWEB)
Gold offerings at temples have come under the scanner of the Reserve Bank of India. Deputy Governor K C Chakrabarty has called for a reduction in demand for gold as an offering to the deities.
“Ninety percent of the gold demand is jewellery or to offer to God. Both have to stop,” said the official of the apex bank. The deputy Governor noted that Indian society’s obsession with gold was an archaic idea of pre-historic times when India was a rich society of abundance.
“Wearing gold as an ornament was a culture when you were a rich society, when you were contributing to 30% of the GDP of the world. Today, we have become a poor country, we need to change our culture,” he added.
Going even further to drive in his point, Chakrabarty claimed there was no `intrinsic value’ in the `speculative’ investment of gold. He urged those in the financial world like chartered accountants to explain to the people the non-productivity of investing in gold.
Hitting another nail, he added the precious metal cannot be used for anything productive and gains in value only because of a “mad rush” for the commodity among speculators. The day this will end, the price will fall sharply, he said
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’60 Minutes’ just aired a report on gold in India. Bottom line is that acquiring and displaying physical gold, i.e. weddings, is so ingrained in the Indian culture that with an emerging affluent middle class gold sales are only going to increase.
GROWN ADULTS IN SUITS ACTING LIKE CHILDREN
UglyDog…. totally agree. I am simply amazed at these folks who wear suits and ties and come out with this sort of grade school garbage. You wonder if these folks acutally believe this nonsense, or if they are apart of what I call the VASELINE INDEX:
Vaseline Index: (SRSrocco term) meaning… the more a figure bends over for money or promotion by telling lies or half truths. The bigger and more spread the lie, the more vaseline and the higher they are place up the index. For instance, Jamie Dimon is one of the highest members on the Vaseline index.
The world is being run by OLDER OVERDRESSED CHILDREN who have to resort to lies and mis-direction in order to keep their masters right where they want them… and that is, servicing them in the VASELINE INDEX.
Between this and the swede story about poisonous silver, we can see the wheels really are starting to come off the cart.
“Don’t buy gold, you are poor now!”
“Let your god go un-worshipped, we can’t have this anymore!”
This is so blatant and juvenile of them, they are really between the gold and a hard place.
Not even God escapes the economic downturn austerity
“the practice of giving gold as dowry or as an offering at religious places must be curbed,”
Yeah….right….from their cold, dead fingers, maybe…….
Amazing these clowns are actually paid to sit around and announce this crap….
Chakrabarty. Don’t screw with Vishnu or you’ll get a Shiva sans vaseline.
Swiss banks claim Indians to be the richest people on earth with Billions of dollars hidden in Swiss Banks. With Morons in Indian Government, no wonder Indians are shifting their money into Switzerland, and buying Gold. Indians are a class of their own, They do not trust, respect or listen to Government officials. They will buy Gold, with one hand, and bribe these Morons 100 Rupees with the other.