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’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.