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If it's so worthless, why would the governments want it, right?

There's a sucker born every minute, after all.

>>573

I think you are correct that most central banks would not suffer significant loss under a gold standard, due to the fact most central banks store vast amounts of gold and silver themselves. However, central banks are not looking for economic hegemony as much as they lust for control and domination over the economy and all aspect of human life / productivity. Think about it.

What I think they fear is not necessarily a gold standard, but the mass populations having the *ability to buy gold and silver to preserve the they're wealth *outside the banking system. Because central banks can print endless fiat, they care not about money. They can literally have all the money in the world! They want control. It's about control over economics and thus the human populations. They do not like the fact that silver and gold can protect (not just their wealth) buy anyone's wealth, anyone who physically stores it themselves.

They want to own the gold and silver. They don't want someone like YOU owning it outside the banking system.

A Warning to Indian Citizens – Your Government Wants Your Gold

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 plans to make it happen.

Bloomberg reports:

"There’s about 20,000 metric tons of gold stashed away in India’s temples and households — more than four times the amount that’s held in Fort Knox in Kentucky — and Narendra Modi wants to get his hands on it.

India’s prime minister on Thursday unveiled three state-backed plans to try to tap the stockpiles of the precious metal to trim physical demand and reduce imports by providing people with alternative avenues for investment. At an event in New Delhi, Modi announced the formal start of a gold-deposit plan, a sovereign-bond program linked to the metal’s price and introduction of locally minted coins, some bearing the face of Mahatma Gandhi."

Also known as the “please trade in your gold for paper promises and government tokens” plan.

Yes it will take a while to properly propagandize the population, and if that fails, there’s always coercion or violence.

Meanwhile, I remain confused as to why it would be advantageous to place a barbarous, pet rock relic, owned merely for tradition at the “heart of the financial system.”

https://archive.is/qEdP9

http://libertyblitzkrieg.com/2015/11/05/a-warning-to-indian-citizens-your-government-wants-your-gold/

Indians Refuse To Give Their Gold To The Government

Two months ago we gave our most recent review of what we dubbed the soft launch of India's gold confiscation program, when the government's "voluntary"gold-to-paper backed bonds conversion went, well, gold: back then, Modi's government approved the gold monetization plan and sale of sovereign bonds proposed several months ago by the Reserve Bank of India.

The plans were first announced by Finance Minister Arun Jaitley in February as measures to woo Indians away from physical gold. As Jaitley explained the deposited gold would be auctioned, used to replenish the Reserve Bank of India's reserves or be lent to jewelers. Subsequently, gold "depositors" can redeem in gold or cash depending on the tenure. Said otherwise, an attempt to "fractionally-reserve" gold, which would then be used a source of gold rehypothecation in the country that despite all the government's efforts, remains starved for physical gold.

Now, one week after the gold scheme's official launch, we take a look at how has it has done so far. In one word, so far the "gold monetization" plan has been a disaster with a laughable 30 kilograms in gold tendered by the people from physical into "government-backed" form.

The Times of India has the details, and reports that in the first-week "collection by the government's sovereign gold bond scheme has been rather tepid with less than Rs 10 crore being reported to the Reserve Bank of India (RBI). The scheme, which closes on November 20, allows investors to purchase between 2 and 500 grams of gold-equivalent.

The spin was immediate: "bankers say that in any issue, savvy investors - including high net worth individuals - usually hold off until the closing date before locking in their funds." Or maybe they don't lock in their funds at all since giving the government your physical gold in exchange for a interest payment - in other words, converting gold into a paper asset with the government's blessing - is about as stupid as it gets.

TofI adds that "the money raised through the sale of these bonds will form a part of government borrowing. According to sources, the RBI, which manages government borrowings, is keeping track of the collections and it has got a number of below Rs 8 crore until last weekend. Of this, around Rs 6.5 crore has been reported by banks and another Rs 1.35 crore by the Post Office. The government has fixed the issue price at Rs 2,684 per gram, which means that the gold-equivalent of the bonds is less than 30kg."

https://archive.is/eNp29

http://www.zerohedge.com/news/2015-11-18/indians-refuse-give-their-gold-government-only-30-kilograms-take-part-gold-monetizat

>>893

lies

>>gold

India remain strong

the government can not win

rulers come and rulers go

>>1298

Would you please elaborate a bit? What is this reporter lying about exactly?