It's over, It's over, It's over, It's over, It's over, It's over, It's over, It's over,
GMS - GOLD MONETIZATION SCHEME
http://economictimes.indiatimes.com/wealth/savings-centre/savings-news/prime-minister-narendra-modi-launches-three-gold-related-schemes/articleshow/49671030.cms
POO IN LOO
>The Gold Monetisation Scheme (GMS), 2015 will offer an option to resident Indians to deposit their precious metal and earn an interest of up to 2.5%, while under the Sovereign Gold Bond scheme, investors will be able to earn 2.75% interest per annum by buying paper gold.
That entirely defeats the purpose of owning Gold.
>>55190191
>>55190275
>>55190418
PREPARING FOR WAR! NEED FUNDING!
>>55190418
The fact they are on the way to use gold in the banking system should set the alarm in the western banking institutions.
They will actually be using Gold (20,000 tonnes of it) as currency
Gold loo? Poo on gold? Or just golden shower?
Poo in Loo saving the civilization from Jews.
I'm on board. Wonder what Ron Paul has to say about this?
Poo? In loo?
India will buy some western asset, debt and countries. (as China does)
I, for one, welcome the Aryan Masterrace from the East.
Namaste.
whats the big deal about this?
INDIA NO
>>55190883
When Rotschield monopoly money becomes toilet paper, India will have the option of using gold to pay for necessities.
>>55190883
>whats the big deal about this?
all the gold standard conspiracy theorist are gonna be proven wrong soon
>>55190883
it means illuminati confirmed
>>55190883
They wont be using rothschild ious as currency
>>55190883
Indians buy huge amounts of gold for savings. Since India doesn't produce hardly any gold, all of the gold must be imported. The demand is so high that it makes a sizable impact on the trade balance. Also, not having savings in banks makes it harder for said banks to give out loans and make investments.
>>55190684
He won't do that. He just wants to Indians to trust paper currency. Having the gold reserve is an added benefit in case the government wants to seize it.
tl;dr Modi, is trying to turn India's banking system to more like the west.
>>55190191
time to give India some democracy
>>55190684
It's not currency if it's sitting "on deposit" somewhere.
I sure hope Indians aren't dumb enough to do this. As long as the masses of people in India continue to hold a gigantic fraction of the world's physical gold it's going to be a problem for the jew bankers.
>>55190191
Goodbye POO IN LOOs
INVADE INDIA 2016
>>55191382
You don't geddit.
It's not everyday currency
It's backing that India can still trade internationally (with something that was previously commonly accepted as currency for millenia all over the world) in case the jews fuck up and accidentally the monetary system.
>>55190191
Well, enjoy the rest of the world accusing your lack of toilets as crimes against humanity and us invading your country and fucking everything up.
RIP India
>Muh gold
>Muh worthless paper
>muh ebil Rothschild
Do you not know how fiat currencies work?
>>55191642
That's still not currency, though, and certainly not domestic currency. That's just backing for international trade. I still think it's a dangerous gamble for the individual, especially with the future of the world's financial and political systems as uncertain as they are.
I would be inclined to view this as more of a slightly clever PR move by the government to kind of poke the rest of the world to remind them where the world's physical gold might or might not be.
>>55191382
It's not just "deposit".
Most of the gold bonds are in smaller to large amounts that can be used to pay for everyday transactions like paying medical bills, buy property, tuition, etc
>>55191773
>Monaco
>relevant
Pick one faggot, hang yourself
>>55192086
Good idea, but I come from the country where, in 1933, the government said, "OK everybody turn in your gold coins that you've been using for everyday trade since forever because it's your patriotic duty and we'll give you slips of paper you can use instead. Also btw it's illegal for you to not comply."
And then they immediately devalued the currency by half, and, as best we can tell, melted down the gold and shipped it off to Europe. Some decades later it was popular to buy Krugerands from fucking Africa for personal ownership until it was made easy and sensible to hold domestic gold again some years after that.
So I may have a biased view.
> designated
>>55192069
Internal currency is a complete non-issue compared to maintaining international trade during a recession.
>>55192171
>can't into basic economics
>gets called out
>hurr kill urself America stronk
Kek
>>55192510
polan wtf r u doin senpai
>>55190191
>It's over, It's over, It's over, It's over, It's over, It's over, It's over, It's over
bet you don't say that while shitting, eh ranjit?
>>55192557
Trying to teach gold sellers why they have no clue about how a modern economy works
>>55192613
baka desu
OY VEY GOYIM YOU SHOULD HAVE LISTENED
>>55190191
That's not China, so it's still ok for Muricans if they are afraid their dollar is going into loo.
>>55190987
Maybe it's the best if we don't have one powerful money value all around the world, this way we don't have such powerful leaders, those who control it all, then they can be easily caught and put to jail or be more afraid to steal money from people.
>>55190987
necessities do not include toilet paper though.
Poo in the loo apu
>>55192310
Gold will not be handed over or turned in though as in USA- just deposited and bond issued. It can be withdrawn after the fixed period with interests.
>>55195216
Hope it works out for you, honestly. It's just that when I think about what the government gets out of the deal, I don't see much good other than posturing about gold holdings.
Part of the provisions of our PATRIOT Act include the government being allowed to seize all gold kept in safety deposit boxes for any reason they want. That kind of sends the wrong signal to us when we think about leaving our gold on deposit. I actually have (or thought I had) some gold and silver on deposit in a, well, depository. I'm still waiting to find out via the bankruptcy proceedings if it's actually there, but at least it seems as thought I'll be compensated monetarily for my loss, and that the assets on record should be enough to get that done at or close to 100% of fair market value.
>>55195491
Indians still have a huge trust in the government. Only non-incentives for the gold collectors will be the comparatively low interest of 2.75% when an FD in a bank can still give upto 9.25%.
Making people give up their gold for such a low interest might still be a challenge when for most value of gold is something to be had in your possession not invested in a bond.
My guess would be it will still unleash a lot of new funds for mega projects.
The government has already proposed a Swach Bharat Cess ( clean india tax) effective for 5 months only to clean up the mess.
>>55190987
Thank you
>>55191773
What are you trying to imply? That fiat currencies are better?
>>55191382
>It's not currency if it's sitting "on deposit" somewhere.
Sit down and let the big boys discuss this
>>55197519
>let the big boys discuss this
Go right ahead. I'll watch and learn.
>>55190191
How does it work exactly? Say, I have 100 grams of gold and I want to 'deposit' it in the scheme via a bank. The bank will then loan out my 100 grams of gold to jewelers, thereby decreasing import of gold and I get my 2.5%.
I am naive, but I don't understand, why would I allow my family jewelery to be tampered with and lose its original identity in the first place for a mere 2.5%? Or is it something like the banks can use the gold deposits as collateral for loans? And one more, after expiry of fixed period will I be repaid in gold bars or coins?
>>55190191
DESIGNATED
>>55197869
Finerprints will only be available when the schemes become online we can only speculate at this time. My guess would be if you are hoarding a lot of family jewellery that is still sitting idle in the bank lockers or family vaults this is not an ideal or safer form of investment.
But if you are only of those gold coin/ bar collectors, should have nothing to loose at the end of the deposited period if you get your shinning piece of coin and bar.
However it does not open a separate metal market.
>>55190191
Whatever you do, don't give up your gold, poo in loos.
We made that mistake once.
