Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By CMI Gold & Silver
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Modi paper money cancellation crushes gold

% of readers think this story is Fact. Add your two cents.


Tuesday last week, India’s Prime Minister Narendra Modi demonetized 86% of the money in circulation, except for special uses. Ostensibly, it was a move to check black money, i.e., counterfeit money, money that was gotten through graft or corruption and money on which taxes had not been paid. In the four trading days following the Modi move, the price of gold collapsed $60.

What the market realized was that gold buying in India makes up about 20% of the world’s demand and that much of the gold purchased in India was with black money. However, since Friday’s drop, the price of gold has stabilized.

Now, gold investors should be focusing on Donald Trump’s promise of massive spending on the rebuilding the nation’s infrastructure and the military. I’ve seen reports that he wants to spend between $500 billion and a trillion dollars on roads, bridges and sewer systems.

As for military spending, it will depend on Congress, which may pick and choose projects. However, I doubt there will be much opposition in Congress to infrastructure spending. Still, all this spending will be inflationary.

Trump never was pinned down as to how the country would pay for the spending, but it appears he’s counting on an improved economy with much needed changes in US taxing policies. John Kennedy became somewhat famous for his tax cuts that resulted in increased government revenues.

Even if Trump comes up with the right formula, it will take years for an improved economy to increase tax revenues, meaning massive deficits for years to come. Even then, there’s no guarantee that the deficit will ever by eliminated.

Inflation is already reading its ugly head, and the fear of inflation will drive more investors to gold and silver. Only a major war would send more money into gold.

Gold’s and silver’s price dips are opportunities to buy at lower levels. Consider taking advantage of them.


Source: http://www.cmi-gold-silver.com/blog/modi-paper-money-cancellation-crushes-gold/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.