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Wells Fargo fraud, more Wells Fargo fraud, and gold and India - Input Junkie
December 10th, 2016
11:03 am

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Wells Fargo fraud, more Wells Fargo fraud, and gold and India
Wells Fargo's bad incentive plan also led to clients being forced or pushed into low quality insurance from Prudential.

A commenter mentioned Wells Fargo getting loads and scads of money in the bailout, so I found a reminder that WF was highly involved in mortgage fraud-- and, of course, it did get a big bailout.

There was an annoying bit near the beginning of the article shouldn't have been "Gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939 but civilized people don't buy gold", it should have been "people who trust that their countries are civilized don't buy gold".

So, there was that bit about people buying gold in the Rolling Stone article and my mind naturally went to India-- their government suddenly made their larger bills into not-money so that the government could collect more taxes.

Very cleverly, this deactivated 80% of the money. It hasn't been going well.
Indians tend to keep gold as a financial reserve. I don't know what history goes into this, though that might be the next thing to research.

Anyway, googling turned up that the Indian government is also targeting gold, but none of it is from sources that I'm familiar with-- not sketchy sources from my usual infosphere, just sources from parts of the world that I don't usually see.

http://www.nigeriatoday.ng/2016/12/following-demonetization-india-is-changing-its-outlook-on-bitcoin/

This entry was posted at http://nancylebov.dreamwidth.org/1087283.html. Comments are welcome here or there. comment count unavailable comments so far on that entry.

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From:madfilkentist
Date:December 10th, 2016 05:51 pm (UTC)
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I've bought gold because I want some safety from the possibility of runaway inflation. "Civilized" doesn't mean "having unquestioning faith in the government."
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From:siliconshaman
Date:December 11th, 2016 01:24 pm (UTC)
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It's kind of nervous making to watch governments treating their economy, and by extension the global economy, as a giant game of suicide jenga!

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