world gold council backs indian paper gold!!!

"Now we have the WGC declaring it wants to “work with” the central bank of India – to con Indians into buying less gold. Naturally, the propaganda machine lacks the integrity to state this openly. Instead we get the usual Weasel Words:

Mumbai: World Gold Council (WGC), the premier organization that promotes the use of gold globally, has approached the Reserve Bank of India to work with it so that yellow metal could be PROMOTED AS A FINANCIAL ASSET, RATHER THAN JUST A PHYSICAL ASSET … [emphasis mine]

And lest he have any doubt about what that nebulous statement means; its actual intent is clarified in the following sentence:

…The move comes close on the heels of a series of steps taken by the government as well as the central bank, aimed at REIGNING IN GOLD IMPORTS which is directly contributing to the rising current account deficit. [emphasis mine]

Regular readers are entirely familiar with what all of these “efforts” have been all about: duping Indians into buying paper-called-gold instead of real gold. Understand that fraud is explicitly implied here. How can you “solve” a gold deficit by selling Indians “paper gold” instead of physical bullion? Only if the “paper gold” is simply paper called gold."

The full read of "World Gold Council Betrays Gold Investors" by Jeff Nielson is at http://www.bullionbullscanada.com/gold-commentary/26265-world-gold-council-betrays-gold-investors