Gold report

Dn't know if this is old news or not: India the worlds #1 buyer and consumer of gold bullion has a huge trade deficit due to citizens demand for Gold during the wedding session, The Indian government added a 20% tax and an additional 10% import tax on imported gold. the result was a 93% drop in gold imports June through November 2013.

China just opened the worlds first market in physical gold separating it from futures and speculation on paper futures in their stock exchange.

Looks to me like their first real step toward an attempt to back their wan with gold and make it the power currency of the world. Just my .02

Not sure if I will live long enough to see the balance of power completely shift. I think it took WW1/WW2 for the power center to switch from England to the US. Might take something equally catastrophic, but I was surprised to see that use of the yuan has recently passed the euro.

That being said, as a nation we seem to be doing our darndest to dig our own grave. Do you read tfmetalsreport dot com?

Scrap - the world's only universal currency.

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Originally Posted by olddude

Dn't know if this is old news or not: India the worlds #1 buyer and consumer of gold bullion has a huge trade deficit due to citizens demand for Gold during the wedding session, The Indian government added a 20% tax and an additional 10% import tax on imported gold. the result was a 93% drop in gold imports June through November 2013.

China just opened the worlds first market in physical gold separating it from futures and speculation on paper futures in their stock exchange.

Looks to me like their first real step toward an attempt to back their wan with gold and make it the power currency of the world. Just my .02

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Don't let yourself be too fooled by the Indian taxes and lowered amounts of imports. The imports are still happening, but now they are going unreported. Others in India have started to buy and store outside the country.