Guest Post by Martin Armstrong
India is moving now to confiscate gold after going after the cash. Currently, each married woman is entitled to 500 grams, each unmarried woman 250 grams, and each man 100 grams of gold. Everything that goes beyond is classified as illegal possession and thus will be confiscated. There is no restriction on the possession of the jewelry only if the jewelry was purchased by inheritance. Prime Minister Narendra Modi is giving more power to tax authorities rather than dealing with corruption. They will be shaking people down for money. Unlike FDR who confiscated gold from the banks, Modi is allowing the tax people to go door to door.
This is the problem I have been warning about with gold. It is losing its safe haven status for it is getting to the point you cannot travel with it, keep it in a safe deposit box, or show gold with jewelry. In Italy, if it looks like you have excessive jewelry, they pull you over and weigh it at the border.
This is all part of the Hunt for Taxes. India is setting the tone. The danger will be if others follow. Trump would stand in the way of such policies in the United States. But in Europe, we may see the same policies take effect to different degrees. All they need do is claim that terrorists are using gold to fund their operations.
Everything is still on target for the move under $1,000 into next year.
I believe if you buy gold(or silver) as an investment, an appreciating asset, you’re making a mistake. Let it drop, that’s fine with me. I’ll just pick up a little more. If TSHTF and with $300 Trillion in world wide debt, it’s still a very possible scenario, having bags of pre ’66 coins and small gold coin denominations is like having 6 months of food stashed.
I might not never need either but better to have and not need then vice versa, right?
that is ….pre ’65 US coins ( 10 cent 25 cent, 50 cent @ 90% silver). I’ll trade you 2 bags of ’65 coins for 1 bag of ’64 or earlier coins….. 😉 There were also the halves (50 cent) that had 40% silver between ’65 and ’70.
I am so sick of the battling factions of gold bugs and gold haters” just think about it…..if SHTF and it is because of economic crisis, most people will be like sheep and believe in dollars, then move to real life-saving assets like shelter, water, food, medicine, arms…..in that order…while preppers may be in reverse of that. You cannot eat gold and I seriously doubt any new government wants a competitive environment for their fledgling currency to restore order so gold would have many mercenaries after it and may not survive the onslaught….criminilize owning it if you cannot convince people first to not own it….or just confiscate it with force….sheep do not want to provide any reasons to be near the wolves so gladly they avoid gold thus causing less demand etc. Imagine you are in the middle of the arabian desert fighting it out daily for survival…..what is more important? Water, food, medicine, bullets, arms or some peace of metal that has been criminilized to own. As a hedge I personaly feel having enough junk silver to barter with makes sense. Why junk? Because the sheeple know what that looks like….most have never seen a gold coin. Which brings me to my final point ….counterfeiting. Once the sheeple cannot trust the coins they further avoid them. Between governments atempts to corrupt ownership, criminilize ownership, and use counterfeiting propaganda, the sheep will avoid gold at all costs….real assets are assets thatbare needed for human survival. As far as metal goes…..it is lead over gold.
I imagine it will quit falling at somewhere around the $400 range.
So buy it now or miss a big tax write off when you sell it.
Has this guy ever been right about anything?
Nope…
In this case, I don’t see anything to indicate he is.
What do you see to indicate otherwise?
(A serious question for discussion, not contentiousness)
His predictions are based on cycles-he has more cycles than the moon. So based on the 32 year cycle, take $1000 gold, divide by pi to the power of ¥, corresponding to the derivative of e, yada yada!
I don’t think anyone knows what the price of gold will do in 6 months, or one, or 12. Same for the stock market.
Yet, in spite of that, gold is currently dropping like a lead balloon.
Why you suppose that is?[img
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try that chart again here
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Down over 200 bucks in less than six months.
Yes, it’s down $200 against the increasingly worthless US Dollar. Check out gold’s price history against other currencies for the full picture.
The Dollar is increasingly valuable, not worthless.
http://data.cnbc.com/quotes/.DXY
If it weren’t the decline would be even more dramatic.
Gold doesn’t have a price. It has a value.
Smart people understand the difference between price and value. Unfortunately… a lot of the smart people are assholes.
People should keep their gold and silver until they need it to save their life. Nothing more.
Well when you buy it do you have to pay a monetary price to get it?
If so, it has a price.
Price is temporary. Fleeting. Illusion. Opinion. Something that assholes constantly manipulate to their benefit… and a few decent people monitor to their benefit.
Value is life and hard and can’t be counterfeited.
Charlatans put a price on things… but the price is a fraud. There is only value and fraud.
To your specific point… yes charlatans blanket Gold in a price. It’s a lie that allows them to acquire Value at almost zero Price relative to the true Value.
Is there any commodity you can’t say that about?
Pork Bellies have both price and value, but to e they’re worthless since I don’t want them and wouldn’t accept them if given to me.
Same with a Rolls Royce, wouldn’t own one at any price.
If anything, you might say the price is a reflection of the value someone puts on something if he is buying or selling it.
Apples and oranges—gold has a tangible, manifest, LASTING, worth….pork bellies decay or are consumed, oil is burned or degrades after refining; RR’s rust, depreciate in value, function and require maintenance…
Gold Resists Entropy.
You know it. I know it. You fear it.
Exactly right. It’s like an insurance policy. It won’t go to zero like electrons and paper.
Good distinction. Gold is a commodity of high purity and durability which has made it suitable as money (a trade between commodities) for thousands of years. Gold today will buy approximately the same quantity of basic commodities as it would in 1800 and before. Valuing it in terms of dollars, which may not exist in 10 years, is meaningless.
Amen razzle
My favorite saying, my family is tired of hearing, we know the price of everything today BUT we do not know the value of anything. They are not the same.
In the past month, India has had their fiat currency nearly destroyed by sudden government action and gold attacked as a store of wealth. How in the hell is an individual supposed to save or prepare for old age??? Ans: just like the massive starvation Stalin unleashed in the Ukraine, The Gov. of India sees millions of people as expendable. The official story is this is an attack on corruption, but it is really a giant hunt for wealth to confiscate. How can ordinary Indians transact with no money or collateral?? This is largely ignored by the mainstream media. It is a huge leap forward for totalitarianism.
How in the hell is an individual supposed to save or prepare for old age??? They dont. BOHICA is the policy. There is a reason why India has always been dirt poor…. they keep allowing shit like this to happen. That is why TPTB want the genes from these failed states to overflow into america and wipe out the genes that led to 1776. And make no mistake, 1776 is the proper response.
India’s predicament is actually extremely dire. The recent accelerated melting of mountain icecaps has led to increased water flows that have sustained that population at levels far above where they could have been otherwise. Those rivers are eventually going to dry up and they’re going to have a catastrophe. As a nation, they are not smart enough to analyze this any more than they are capable of analyzing the consequences of gold confiscation.
They can always spend their big bills on AK-47s and cases of ammo. I’m relying on that for part of my retirement(and maybe to restore legitimate government if the libs successfully derail our legitimate election). The Indians might find that they also have to “take some actions” to restore a democratic government in India.
It’s really really hard to confiscate gold. You just put your gold in a jar and bury it in the backyard. You just need to know that the government is after it.
In India, if they go after the gold in the temples, it is very likely that there will be war.
I think the root of the problem is that the gold market is close to finally imploding and the TPTB convinced Modi to help them get gold from the people of India to keep the scam going a bit longer. Plus also limit their ability to keep buying gold.
No harder than confiscating Heroin or Meth.
And while you may get away with it for a while, you’ll eventually have to use it for something and risk getting caught (and facing similar penalties) or it will be about as useful as having a stash of cardboard.
— “No harder than confiscating Heroin or Meth.”
So almost impossible if you aren’t an idiot. Gotcha. Thank you for proving your own point false.
Anon today has been on a roll of stupidity.
So go out and get some heroin or meth, they have much more value than gold and are more readily sold.
I suppose you were among those buying when gold neared 2000 (actually over 2000 in small bullion bars instead of kilogram and larger ones)?
— “So go out and get some heroin or meth, they have much more value than gold and are more readily sold.”
Wait… so you are saying that confiscation of those things is hard or easy?
Anon… you make no sense. Maybe because you have multiple personality disorder and are just here to subvert?
— “I suppose you…”
Nope.
Problem you are stuck with is you are still an idiot pawn of people better than you who are still worse than the average uneducated lower middle class redneck.
It’s your money do what you want with it, I’m just giving my opinion.
And I’ve been warning about a steady decline since 1500/oz after the last spike.
What have you been predicting and how well has that worked out for you?
— “It’s your money do what you want with it…”
myfreecams.com here I cum!!!!!
— “I’m just giving my opinion.”
Good.
— “And I’ve been warning about a steady decline since 1500/oz after the last spike.”
You’re still talking about price, not value.
— “What have you been predicting and how well has that worked out for you?”
I predicted the election was rigged in favor of Trump and that Trump was the choice of the establishment (I’m starting to be convinced he’s the choice of a White Hat FBI coup which is even better). I predicted that gamergate was going to win and a big deal that would become a genuine force to recon with. I predict that pizzagate is going to blow everyone’s mind.
I predicted that dollars would continue to lose value at an accelerating rate. Oh… that’s just business as usual? Dollars have no value, only price? Interesting.
It’s working very very well.
I haven’t even said I own gold. I’ve only questioned your opinions. What is *your* vested interest in this?
The very first sentence said it all but apparently was missed(or conveniently avoided) by Martin…”India is moving now to confiscate gold after going after the cash”. So the paper fiat was merely outlawed and not confiscated because it is just paper with no value. The gold is being outlawed and confiscated(stolen) because it has great value.
So why does he go on to state that holding gold is a bad idea because…”It is losing its safe haven status”. That makes no sense to me, as it is still a safe haven for financial catastrophes yet has never been a safe haven from outright theft. People are to this day unearthing gold filled pottery from the Roman era. Therefore even back then it was not safe from theft yet was indeed a safe haven from wealth destruction.
He never offered another option for safe haven status and neglected to tell what paper asset cannot be outlawed and what physical asset cannot be stolen/confiscated.
He states the gold confiscation is a “hunt for taxes” which means gold has value above paper and yet he goes on to state the price will be dropping. Perhaps this confiscation may well be dumped on the markets via paper trade to manipulate the price downward while the physical is held in storage.
I find the article totally empty of content and only a hit piece on gold.
Don’t know the ins and outs of Martin Armstrong’s head, but I do suspect that there was some sort of quid give in exchange for the quo of his being released from seven+ years in the federal slammer.
All of the above posters are pretty much on the money. (get it?)
The notion that gold will go to below $1000 is based on a fallacy that no one wants gold. That couldn’t be further from the truth.
The article supposes that the government wants to tax it. Of course they do!! History tells us this is so. Just read up on Roman history.
In each and every Fiat experiment that was tried and failed in this world, gold and silver came back as the only viable alternative. Why? Because governments can’t create it out of thin air. It can’t be inflated without the people knowing about it. Both metals are world renowned and recognized by everyone on the planet. That’s what money should be.
Gold dropping below $1000? Possibly…… but not for long. Like all paper gold futures Ponzi schemes, physical PM’s are an insurance against failed government fiat financial hubris and losses.
Got your financial insurance policy yet?
People were saying the same thing when gold was nearing 2000/oz.
So why did it go down by so much?
Wow – where to start. I’ve read Martin armstrong since his days of running his last grifter enterprise, Princeton Economics. He was touting his commodore 64 cycle model back then, as well. He’s always been very adept at promoting his successful predictions, while ignoring the failures, which were, by far, more numerous. I don’t think he was shy about about using historical revisionism, either, for his own predictions.
When he was in the joint, penning articles by long hand and telling the world how he was framed, I don’t think there was a bigger bull on gold than him. All that changed, however, even though the economic reasons behind his bullishness back then has only increased. Wonder why?
Making predictions about pricing of any traded security in today’s world is unwise. The markets are more virtual than real. As Sinclair said the other day (and I’m not a big fan of him either, but he makes a worthy point) there are no traders, anymore. It’s all machines. Go to the floor of the NYSE and it’s empty.
All trading that counts is algorithmic-based, using super computers and high frequency connections. They’re all proprietary, and we know nothing about what triggers them. I’m sure there are multiple correlated trades that would make you dizzy, and even chaotic relationships which are absolutely counter intuitive. So good luck competing with that.
With the resources of the banking cartel behind them, as in unlimited counterfeit money, why is so hard not to believe that these machines can move any market where they want it to go. I’m happy to be schooled on why this isn’t so, if someone knows differently.
In my opinion, we have entered a chaotic, market environment where predictability is out the door, for all assets. The distortion of the trillions that have been printed, and the everyday interventions by the cartel, have destroyed any legitimate price discovery. Prices are where they want them to be.
They appear to have all downside covered, except they don’t. Systemic risk hasn’t disappeared. In fact, it is growing exponentially, as markets appear to be rising exponentially. It will probably take some extraneous, unpredictable and unexpected event, outside of the algorithms’ boundary parameters, to collapse it all. In chaotic systems, small changes can have extraordinary consequences.
I’ll hold onto my insurance policy (gold) in the event that happens.
Good points RT. I certainly can’t make any sense of prices of PMs, or many stocks. Totally counterintuitive moves all the time.
When that happens.
There. Fixed it for you.
Good catch. Thanks.
Gold threatens the legitimacy of both governments and elites. You can’t counterfeit it.
Getting rid of physical cash and confiscating gold gives the government total control.
Not quite. They have to confiscate all the lead too. Plenty of people are willing to give it to them at high velocity.
People like to talk that way but they won’t be doing it.
Not always, no. But the American Revolution started, once the early Americans had enough bullshit from the British.
Are all Americans of the same blood as the early Americans? No, but enough are.
At some point, most likely when they go hungry, the American people will have had enough, and the bankers will hang.
The only way the bankers can keep the game going is to push gold down and stocks up. It’s really pretty simple but everyone tries to make it hard. They sell billions of paper on the comex exchange to push gold down and that keeps the morons in the paper money. Duhhhhhhhhh
You may be giving “the Bankers” more power than they have, it’s entire nations getting involved.
http://www.kitco.com/news/2016-12-09/First-India-Now-Rumors-Circulate-About-China-Curbing-Gold-Imports.html
Wasn’t it within the last year or so when there were stories all over the financial press about the governments of China ,Russia,and to a lesser extent India buying as much gold as they could?
When all this digitial smoke and mirrors collapses only precious metals will have value.
But there is going to be just a whole lot of stuff happening between now and then.
Just like a whole lot of stuff has happened since the market crash back in 07-08.
The dollar market stock market corrupt.Gold market corrupt.First end the FED Arrest criminals bankers politicians.Publicly, must have public trials and confiscation of assets like Clinton Foundation.Any fool knows why Obama is protecting Clintons,he is in over his head
The people in India should tell their Government to pound sand up their ass!
The price of Gold and Silver is being suppressed, and controlled by the Rothschild’s who adjusts the price everyday, also the worthless dollar that is backed by nothing, is being kept strong against other global currencies intentionally.
This allows the Elite who are stinking rich, to purchase Gold and Silver at bargain prices, while at the same time pricing these metals out of reach for the average individual.
I believe the whole idea is to force the middle class to by high, then create a crisis and force them to sell lower, so TPTB can purchase it at bargain basement prices. (They love screwing us.)
The Governments of the world can’t afford to buy all the Gold, so they tell their citizens they can own it, (read purchase it for them,) they can always pass a law and claim the authority to confiscate it anytime they want, as we are seeing in India, they are just that corrupt.
When the SHTF the Elite don’t want us to be able to survive, or make a profit from Gold, they want it all for themselves, because they plan on raising the price to astronomical levels so they can use the profit to by up all the corporations on earth.
Hence the continued screams to sell off all your PM assets before they become worthless, which sounds like, “Your about to loose your ass, so sell everything to us cheap, we’re just trying to help,” (ourselves that is.)
The light at the end of the rabbit hole is flickering, and it’s about to go out…
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