INDIA WILL ALWAYS REMAIN THE GOLDEN BIRD Total gold reserve in India: Gold held by temple trusts : 31000 tons worth: US$1.28 trillion 14.1 times the CAD gold held by households : 15000 tons worth : US$616 billion 6.85 times the CAD Total gold reserve with RBI : 557.7 tons worth : US$ 23 billion 0.25 times the CAD Really these figures suggest gold is the reason for widening CAD and depreciating rupee as in previous year alone India imported 969 tonnes of gold which is the second largest contributor to the import bill after crude oil. If these gold stocks are monetized (not by selling but rather by liquidating for gold bonds and earning tax free interest on the same) not only it will wipe out our total CAD of US$ 90 billion but also countries like pakistan,bhutan,nepal,bangladesh and malaysia can be bought completely.(the remaining amount can cover the total gdp of the countries stated. apart from that whole of the debt accumulated by greece- epicenter of global turmoil can be wiped out)
Posted on: Wed, 04 Sep 2013 19:49:41 +0000
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