Stacy Summary: Here comes the tsunami following the 2007/2008 collapse in the West. And, once again, the IMF will create some magic credit against which to lend . . . the big question is, however, now in a post bail-in world, what happens to all the gold (and silver to a lesser extent) in which Indians hold their savings.
India on the brink of its own financial crisis
India’s financial woes are rapidly approaching the critical stage. The rupee has depreciated by 44% in the past two years and hit a record low against the US dollar on Monday. The stock market is plunging, bond yields are nudging 10% and capital is flooding out of the country.