India has just released its latest economic numbers. India is still apparently growing at 7%. International economists are confused for they had thought that India would face a short-term setback because of demonetization of 86% of monetary value of currency in circulation, which completely disoriented the whole economy.
Those on the street, simple folks like me, know better what is actually happening in India.
Indian economy is not growing at 7%. It has likely suffered a 20% or more annualized negative growth in the last quarter.
Not only growth numbers released by the corrupt Indian government cooked, but also many businesses converted their undeclared money into legal money in November 2016 by booking fake sales. They gave months of salaries to their employees in advance. They prepaid bills and booked revenue for future sales. All this increased GDP on paper exactly when the whole economy had actually gone into a trauma.
China gets all the blame for cooking its statistics. I often go to China and consistently find it to be increasingly more open, more liberal, more investment-friendly, and more growth-oriented. I see accumulation of capital and knowledge happening in that country.
At the same time, India is regressing, to its medieval past. And I am not exaggerating. This is happening not just economically, but most importantly culturally as well.
India is a democracy and not many people like to accept that it might be worse than China. In reality, India is so wretched that it is hilarious that people try to compare it with China. Chinese economy is more than five times bigger than that of India.
I will be giving a speech on “India vs. China” during PDAC on 5th March 2017, in Toronto.
I will also be speaking on the reality of gold imports into India later this month at Mining Investment Asia in Singapore. I promise that it will have nothing to do with official statistics. My speech will be based on the realities on the ground: the dirty game of corruption, and open bribery.
The mining industry has fallen quite a bit over the last few days. A Gujarati friend of mine does well merely by keeping his emotions in check–he buys when the market falls and sells when it goes up.
Here are some companies and the prices at which they interest me:
- Natan Resources (NRL; $0.185)
- Novo Resources (NVO; $0.77)
- Kasbah Resources (KAS; A$0.02)
- Paramount Gold Nevada (PZG; US$1.71)
- Lexam VG Gold (LEX; $0.23)
- Kiska Metals (KSK; $0.08)
- Luna Gold (LGC; $1.79)
- Globex Mining (GMX; $0.51)
- Orla Mining (OLA; $1.16)
Have Central Banks Reached The “Coffin Corner”?
India’s Demonetization And Investing Using The Principles Of The Austrian School Of Economics
“Fiat Currency Systems Has Made Society More Centralized” – Jayant Bhandari
Jayant Bhandari talks about India, Tax Raids and Police State
Finally, registration for Capitalism & Morality is now open. I encourage you to take advantage of early bird discount. Please use MUSINGS coupon code to get additional 10% off until 6th March.
Associate: Rajni Bala
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