Lesson from India: Buy gold before Elizabeth Warren is elected

I’m listening to the Billionaire Raj on Audible. The author says that intensive government regulation (the Licence Raj) and high income tax rates motivated Indians to operate a “black money” economy in which transactions were carried out with cash, gold and savings were stashed in real estate and gold, and the slow-moving wheels of government bureaucracy were lubricated with confidential payments in gold. In fact, it is possible that the massive size of the Indian economy and this massive unexpected need for gold is what has been keeping the price of gold so high over the last 20-30 years.

What if Elizabeth Warren were to be elected in 2020? She proposes more intensive government regulation and dramatically higher tax rates. Might this lead to increased demand from Americans for gold, as the same policies did in India?

4 thoughts on “Lesson from India: Buy gold before Elizabeth Warren is elected

  1. India’s insatiable appetite for gold is centuries (millennia?) old. Before oil, the economies of Dubai, Kuwait et al were based on gold smuggling to India under cover of fishing dhows.

  2. The probability of Warren becoming president and what that would do to gold prices is probably already priced in to the price of gold because that is the way financial markets work.

  3. Lizzy is a long shot, but the chicken sh*t Billionaires have to tap Bloomberg to run, not get the Democratic nomination and run as an independent to help Trump.

    Bloomberg’s mea culpa for stop and frisk was horrible, how about the criminals apologize?

  4. Peter Schiff will be proven right again… if Pocahantas wins and implements the Medicare for all and all other freebies, gold will go sky high. Actually, Trump is already accelerating it as well by spending more than any other president… even more than Obama and the economy is supposed to be “great”… it’s just another bubble by the Fed.

    Listen to this in the background while you drive/cook … Peter Schiff’s story:

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