“The chart shows the staggering eightfold increase in India’s gold loans ‘which monetize the idle gold in the country‘, in just four short years. In short it proves that in India, gold is the only real money, and is the only fallback option in a country where inflation is still rampant, and where even simple peasants prefer to keep their wealth not in the local paper currency, which has been losing its value aggressively in recent years, but in the shiny metal. Must be ‘tradition.'”

http://www.zerohedge.com/news/2013-01-02/dont-show-bernanke-chart-gold-loans-india

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