Streamline fixing of gold price in India

eg. exempli gratia, for the sake of example.

GATA has been railing against price fixing for years.
Now GATA suggests fixing gold prices in India.

What part of this hypocrisy left you dazed and confused?

But!!!
You are right to ask, "Cui bono", in response to my comments.

If we assume that the world economic conditions could decline to the point where the currency of the day goes into hyperinflation, then tangible assets in hand might make the difference between maintaining a subsistence lifestyle and reporting to a refugee camp.
Ergo, any attempts to increase the price of assets would be counter to the needs of those willing to forgo instant gratification in order to stash a bit of savings.

One could make the claim that low gold prices adversely affects the miners.
But is the problem price or is the problem insane levels of debt?
Weren't the major miners in the chips just a few years ago when gold was just under $1000USD/ozt?
Then there are the small (many subsistence level) miners who are still earning solid profits.
Some convert raw gold to finished products and save them. Call it self-hedging.

No, GATA doesn't fill a needed function for me.
I've known that ALL markets are gamed for decades.
I learned the rules and accept them.
So far, everything is going to plan.
You only lose money when you decide to book the loss.
No sell, no loss. 1ozt Au bought 4 years ago or 25 years ago is still 1ozt.
Price versus value. Big difference.
Besides the actual price isn't fixed until the goods change hands.

Then there is the matter of the global economic climate if PM prices were to explode on the upside.
This would probably ignite a global firestorm.
Everyone except the HNW crowd would be almost instantly priced out of the market for everything.
Even food would vanish off the shelves.
The few farmers left would withdraw their goods from the market.
Please understand that most farmers are corporate and engage in monoculture of the big 4. Wheat, rice, soybeans and corn.
The level of inputs required to operate on that scale and the level of their debt puts them at extreme risk.
Then don't forget that the weakest link is the distribution system. In this order; trucking, rail, boats and airplanes.
Life would turn to crap real pronto for most of the 99%.

None the less, GATA has screamed bloody murder in the media and in court about price fixing, manipulation and the out-right gaming of the PM market. Then GATA suggests that India must set up a price-fixing mechanism surely smacks of hypocrisy and makes me ask, "Why?".
Nobody does anything for free.
Altruism is a head fake. Otherwise it would be totally anonymous.

Did I answer your question Karandash?

"... based on calls made to the members of the association twice a day that reveal the quantities and price at which members want to buy and sell gold. "

"It is time the Centre evolved an independent regulatory mechanism to determine gold prices and gold trading."


Yes sir, the last thing we want are buyers and sellers aka "the market" setting the price of gold.

Is this indicative of the stance GATA takes toward the Gold/PM market?
After all, isn't price fixing by a regulator just another form of manipulation?

Maybe this is kinda like a Coup d'Etat in some 3rd world country.
Perhaps starring GATA as the new dictator replacing the old dictator.

I always begin my thought trains with the simplest question, "Cui bono?". Who benefits?