More Real Fake News from the MSM.
Legendary Gold Expert Jim Sinclair (who owns a home in India) reveals:
Modi will not confiscate gold outside of some proven limited tax situations. I see this as misinformation…
From Jim Sinclair:
Modi in all probability has killed himself due to what he has already done to the currency in India. I have a home in India. Having lived there on and off for quite a few years, I can assure you gold is as much a spiritual factor as an economic item to Indians. Modi will not confiscate gold outside of some proven limited tax situations. I see this as misinformation. So does Bloomberg.
If he touched the “Golden Temple” he would start an armed revolution against the state in India, that I assure you of.
Message to Modi: Do No More Harm
December 9, 2016
India again posted world-beating growth numbers last week: Gross domestic product grew 7.3 percent in the quarter between July and September. But the question remains, so what? After all, none of this data covers the period after Nov. 8, the date Prime Minister Narendra Modi abruptly declared 86 percent of India’s currency would be withdrawn from circulation.
In the weeks since, the chaos accompanying “demonetization” hasn’t eased up noticeably. It seems likely the disruption to the economy, especially in cash-centric rural India, will hit growth sharply for at least a few quarters. It’s tough to say for how long and by how much; we are in uncharted territory here and guesses have varied widely. But many analysts agree with former Prime Minister Manmohan Singh, who’s predicting the new policy will knock 2 percentage points off that world-beating GDP growth rate.
It’s too late for Modi to backtrack now, not least because demonetization remains, in spite of all the chaos, relatively popular politically. But it’s crucial that the government not compound its mistakes going forward.