Informed precious metals investors are well aware of the tremendous “squeeze” placed upon gold demand in India, via the draconian suppression of imports. Regular readers of my work understand that this gold-squeeze was, in fact, instigated by the One Bank – through placing enormous pressure on India’s government.
This
economic blackmail took the form of attacking India’s currency, the
rupee, in global currency markets, and driving its value to record-lows,
until the government of India capitulated. With the global rigging of currency markets (by these same Banksters) now being fully-exposed; this is nothing more than “business as usual” for the One Bank.
But
as readers are frequently reminded, actions have consequences. When the
supply of gold to the world’s largest precious metals market (and
most-astute precious metals investors) was severely restricted; Indians
switched to silver – and in a big way.
Even by June of this year, the Indian stampede into silver was already apparent. As noted in a previous commentary;
it was at that time that the One Bank was maximizing its efforts at
Indian gold-suppression (resulting in a total ban on imports) because
monthly Indian gold imports had exploded to an annualized rate of around
2,000 tonnes/year.
In the silver market
meanwhile, by the end of May; India had already imported over 2,400
tonnes of silver to meet surging demand, versus 1,900 tonnes in all of
2012. By the end of October,
India’s total silver imports amounted to over 4,600 tonnes. Barring a
complete collapse; 2013 silver imports in India will hit an all-time
high – eclipsing the previous high-water mark of 5,048 tonnes, set back
in 2008.
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