The Economist Acknowledges ‘Financial Repression’ – At a Safe Distance from London

by Chris Powell

Dear Friend of GATA and Gold:

In an article headlined “A Tarnished Appeal,” The Economist magazine, the voice of the supposedly learned establishment, acknowledges this week that India’s government continues to wage a decades-old war on gold that arises mainly from the government’s own irresponsibility with its currency.

The Economist writes: “Decades of inflation and a much-debased rupee have pushed savers towards what is, in effect, a convenient way to insulate their nest-egg from the poor decisions of India’s policymakers (and, just as often, from its tax inspectors). In rupee terms, in other words, gold has been a stellar investment.

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