Is India About to Flood the Gold Market With 200 Tons of Leased Gold?

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gazzahere said:
If 200 tons of Au become available - any way it does - China will suck it up quicker than a sick hungry seagull on a chip.
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Buy are they sucking up paper gold? Cause that's all this 'leased' gold is likely to be.

Even a hungry seagull won't touch paper.
 
Another nascent possibility;

The Reserve Bank of India, which has been making gold imports more difficult through a series of restrictions, is discussing with banks on how to convince temple trusts to deposit their hoard of idle jewellery that could be converted into bullion, said two bankers familiar with the matter.

The roofs of many temples, such as the Nataraja temple in Chidambaram, Tamil Nadu, and Tirupati are covered with gold. RBI is counting on banks handling the accounts of these temple trusts to convince them to convert their huge gold deposits into cash, the bankers said.

Tirupati is among the world's richest temples with an estimated gold hoard of about 1,000 tonnes, nearly double of India's estimated imports this year. The country, as a whole, is estimated to have a gold stock of 18,000-30,000 tonnes. The temple trusts, however, do not seem inclined towards such a plan, at least for now.
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There is no certainty of any deal with the temple trusts, given the diverse nature of these trusts and the local politics involved. "The idea is that a designated bank may buy gold from a temple trust and the ornaments will be converted into bullion. These may be bought by RBI by selling rupees," said one of the bankers quoted above. RBI did not respond to an email seeking comment.
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ZH
 
mmissinglink said:
long88 said:
look at who own RBI.. that will explain why such a move is done..

http://bloginfo.educate-yourself.eu/2013/03/list-of-banks-owned-by-the-rothschild-family/
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Is that really true? If so, wouldn't they be better off listing the large banks not owned by the Rothschilds because they'd have to write much less?
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All well and good to list a whole load of banks but where's the irrefutable evidence to back up the claim? The source link no longer exists. Most Central Banks are publicly or partly privately owned while others, such as the BOJ, is publicly traded but also part privately owned.
 
That temple would have no problem issuing unallocated - easy to see they have the gold but obviously no delivery could be made without destroying the temple.
 
Religion is of no concern to bankers. They'd happily take delivery even if it meant chipping away at the temple and its sculptures with a hammer and chisel if it was profitable
 
bron suchecki said:
That temple would have no problem issuing unallocated - easy to see they have the gold but obviously no delivery could be made without destroying the temple.
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If there was that much real gold sitting there waiting to be plundered, the USA would be after Hindu terrorists ...
 
it was only a matter of time ....

The Central Bank of India asking for details of the gold assets of temples
(OroyFinanzas.com) - The Central Bank of India is sending questionnaires to the Regents of Hindu temples to know what kind of assets they have in gold and thereby quantify the gold wealth in religious places. This act of intervention is difficult to justify since a large group of opponents in front of him, for example, the Hindu priests and the rulers of the temples.

The opposition has moved beyond words. The administrator of the famous Sri Krishna temple in Kerala has rejected the questionnaire Federal Reserve Bank of India, refusing to reveal wealth embodied in gold temple. This decision was taken by the Council of the temple Maintenance based on "technical problems" to value gold holds sacred.

According to the administrator of the temple, the central bank has asked stock inventory of available gold and other valuables that may also contain gold. In particular, the questionnaire is addressed to the temples of greater display of wealth, one of them being Sri Krishna.

External evaluators believe that the amount of gold that builds the temple is about 600 kilograms, plus an account of 500 kilograms deposited in the chambers of custody of the Central Bank. In this regard, the Central Bank what matters is to know how much gold is in its possession or how much gold is out of your control.

This week is expected to meet the TDB, a committee of regents of over a thousand temples in southern states of India, to decide whether to respond to the questionnaire of the monetary authority or not. Is likely to issue a negative response given the opinion that has spread across the country on this issue.

The fear of the clergy and administrators of the temples is the adoption of a law on confiscation of gold bullion and convert them to market. If this were to occur, would be a desperate move to Hindu authorities to resolve the serious crisis facing external payments at this time, produced largely by gold imports .

According to the Deputy Governor of the Central Bank, Shanta Kumar, is simply a collection of statistical data: "We ask the details as part of a statistical exercise to bring gold details in possession of these sacred places and other public places. Let's start with the work we had planned to cover temples and places of worship of other communities, brotherhoods and assemblies. "

http://chasvoice.blogspot.com.au/20...aign=Feed:+CharlestonVoice+(Charleston+Voice)
 
[youtube]http://www.youtube.com/watch?v=J93TDEK91PA[/youtube]

Is nothing sacred....... apparently not .... next stop the Vatican??
 
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