– Not exactly the brightest way to smuggle gold… (Sovereign Man, Nov 16, 2013):
Thailand is known for a lot of things– quintessential white sandy beaches, hard partying nightlife, quiet Buddhist reverence…
But what a lot of people don’t realize is that Bangkok is probably one of the most important cities in the world when it comes to illegal trafficking.
Human trafficking. Narcotrafficking. Money laundering. Weapons. Forged documents. Etc.
Bangkok is just as vital to these industries as New York or London to the global financial sector.
And now, thanks to India’s sagging economy, they can add one more to this list: gold smuggling.
Recently, India has been in a state of economic turmoil. Beset on all sides by spiraling inflation, economic stagnation, and a rapidly depreciating currency.
In response the Indian government imposed capital controls in a feeble attempt to curb gold imports and reduce its widening current account deficit.
This constitutes theft, plain and simple. By eliminating options to hold anything other than rapidly depreciating paper, Indian politicians essentially stole the purchasing power of people’s savings