Tuesday, January 8, 2013

RBI and Indian Government's Paper Gold Scams


In the new year, RBI and Indian government's war on Gold is intensifying. In my past blogs, I noted, that the widening fiscal and current account deficit is putting government's finances in shambles - credit rating agencies are threatening to downgrade government's credit score - and to save their skin, politicians and RBI officials are plotting to put citizens' personal finances in jeopardy. They are coming with all kinds of phony paper gold schemes to lure public away from buying physical Gold. The recent RBI commission's Gold report (here) outlines some of these paper scam schemes. In above video, I analyze these schemes and their sinister fraudulent nature.

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