India Repatriates 100 Tonnes of Gold from UK
Interesting news from India this week as it’s reportedly repatriated 100 Tonnes of Gold from the United Kingdom to store domestically. This is a very significant amount of Gold considering Indias total Gold holdings is reported as being 822.1 Tonnes so this repatriation represents a significant amount of Indias stack being brought back home. The question is - Why?
Source
Of course the explanation given to mainstream is that it’s to ”focus on logistical efficiency and diversified storage” and sure, that may be true to some extent. I mean they are hardly going to cite trust, geopolitical issues or anything related to the fact that the BRICS Nations (of which India is a major player) have been talking about creating their own Gold Backed Currency lately.
Is there more to this story? I would say unequivocally – Hell YES! but unfortunately we can only speculate. I personally think this is a smart and very sensible move as the old global order continues to break down and we see dangerous escalations in Europe and the Middle East. I think that in any global Black Swan situation a nation would want to be holding it’s own Gold to help preserve its own economic and political stability. Similarly, if you wanted to create your own Gold Backed Currency then you’d need to have a good amount of it in your local vaults to back the currency with.
Does anyone have more insight into this story? Have a read HERE if you want to get some breadcrumbs to follow. It’s a very sanitised report but I think there are some clues there to dig up if you want to learn more.
Exactly, that's it.
The geopolitical landscape is changing and we will see by 2030 a multipolar world and multiple options to trade globally.
This is big news to me but I don't know any details behind the decision other than what I can infer from the latest global trends. So I would tend to agree it would be used as the foundation of their BRICS settlement system before the FED could say...
I know that the average middle class Indian family has about 7 oz. of gold.
They aren’t the first to do this many countries have been. Germany did it with the gold we were holding for them. Turkey did it with someone I forgot who. There’s gonna be something big taking place at some point soon. Better to guard it yourself than have a country lose it on you, or have it blown up.
Yes, I think this is just the latest in a broader trend. Gold is definitely moving away from the old power centers and colonial masters.
They trying to make right 😉🤣 !BBH !LOL
Some view India as the black sheep that drags down BRICS. However, I wouldn't be surprised that the sanctions on Russia, and a history of seizing a country's gold (like with Venezuela), all contributed to this move.
The Indians don't like the Brits. Let's not kid ourselves here. It's not hard to find messages on X mentioning how the Brits robbed them of their treasures back in the colonial days.
One thing is for sure, it's less gold for London to manipulate.
That's a lot of gold 💸
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I would guess that the reason is, that India fraternises secretly (more or less) with Russia lately. Same as the other BRICS countries.
So in case the shit hits the fan, they dont want to see their gold being taken as a ransom by the western alliance. As it already happened with Russian money deposits in western controlled banks.
So they try to get their gold onto safe territory, as long as its possible. I think we can take this as a indication that nothing good is going to happen soon.
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100 tons of gold, that's a lot. I can bet the Indians made this request years ago and the news has only come out now and not before the transfer actually took place. Giving the LBMA time to unwind the contracts associated in it's rehypothication.
"If you don't hold it, you don't own it!"
That's a good shout. Wouldn't surprise me at all if this was the case.
Further thinking, on the Exchange's side of the issue, what the LBMA couldn't unwind MAY have rationalized and expedited the confiscation of the Good delivery gold bars from 6 Russian refiners that have gold assets still held in limbo in the LBMA's system. That would be oh so convenient?
Insightful analysis on India's repatriation of 100 tonnes of gold. This move highlights strategic foresight amid global instability and potential shifts towards a gold-backed currency within BRICS.
I personally didn't expected that to happen that quickly but it's happening.