multi-billion dollar, ultra-leveraged short positions threatened with being blown out of the water should gold ever be allowed to rise to its fair market value (vs. the banksters' debauched fiat-currencies). And so we see the Western Corporate Media offering us "solutions" for what it continues to hilariously characterize as India's problem.
Only a week ago, some Western "front" group suggested gold-confiscation in India as a banker trial-balloon. However, as I pointed out in that same, previous commentary; proposing to loot the gold from India's religious temples was not a promising avenue for the banker crime syndicate to pursue.
So, today, we see the bankers falling back on their 2,000 year-old solution for dealing with a gold deficit: start issuing "paper gold." The absurdity here is that this is nothing less than an implicit confession of fraud on the part of many/most of the floggers of "paper gold."
suggests that India's gold-deficit can be fixed by "selling paper gold" (to the Chumps), there is literally only one possible way this could ever happen: by selling paper but calling it "gold."
One has to wonder if this article is causing anyone to squirm at
, Britain's largest bank and the world's largest holder of paper gold (by an enormous margin). Informed readers know that not only does HSBC act as "custodian" for the world's largest
(the SPDR Gold Trust), but it also permanently holds the largest gold short-position in the history of markets.
Fortuitously (for HSBC) it has never been required by our pseudo-regulators to actually demonstrate it has enough gold to cover more than
of these two massive gold-obligations.
One ounce of gold becomes two ounces of "paper gold."
Of course as we all know thanks to Jeffrey
Christian, the banksters' leveraging of their paper gold (overall) exceeds a paltry 2:1 level by many multiples. Indeed, some of the banksters have been known to sell "paper gold" and not back it with any gold at all -- just ask some of the (former) disgruntled clients of
Yes, no doubt about it! Selling "paper gold" would certainly address the gold-deficit problem in India . . . for Western bankers. Unfortunately, it's a scheme that will almost certainly not work out nearly as well for any Indian Chumps who purchase the bankers' paper gold.
At the time of publication the author held no positions in any of the stocks mentioned.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.