The following article from Reuters is a follow up to a topic I have explored on various occasions in the past. Namely, how an inept Indian government is attempting to use the age old tactic of scapegoating in order to deflect attention away from its widespread policy failures. In the case of India, the target … Read more
The scheme has only attracted about one kilogram in a month, prompting the government to nudge temples through banks to hand over their treasures, the sources said, but at least one temple said it was still unconvinced by the plan. “Convincing retail consumers is not an easy task, it takes time,” said a senior official … Read more
The notion that the Indian government considers its citizens’ gold “idle” and would like to get its hands on personal holdings of the metal, as well as bullion held in temples, has been circulating in the media for several years now. What’s interesting about today’s article, is that Prime Minister, Narendra Modi, has introduced concrete … Read more
India’s gold policy over the last several years is about as dysfunctional as any government policy I have ever seen, and that’s saying a lot. In case you need a reminder, here are a few posts I have written on the subject: The Times of India: “Almost Every Passenger on a Flight from Dubai to … Read more
This story is just further proof of the complete and total mess that has been made of the Indian gold market over of the course of this year due to government intervention. The other part of the problem is that when you are dealing in physical supplies you can’t just deliver paper contracts. Somehow I … Read more