India's rich temples may open gold vaults for Narendra Modi

[MarkovChain]

You haven't answered my second part of the question.. WHY is this scheme not applicable for gurudwaras,churches & mosques?

Also many of these missionaries & Wahaabis too have a lot of money stored up in their churches, mosques & trusts!!

Yes, this must be equally applicable for all religious institutions. That's quite irrelevant to the broader issue here.

And this gold is not the govt's to take! nor the trustees to give! This temple gold has a strong religious/sentimental significance for millions of devotees around the nation

Historically, building temples was a way of generating economic activity since it employed several people who were able to spend their income on other products which generated income for more people and so on having a multiplier effect on the economy. Over time, people (without having consciousness of the economics) realized building temple was "good for that place" because it kept people happy. Building temples was also an indirect form of taxation since it was the rich who contributed part of their money back into the society - leading to great marginal satisfaction to everyone overall. Sentimental and religious significance simply stemmed from the subconscious understanding of economics.

Fast forwarding to modern day, we now have a financial market which helps recirculate savings into investment. Any saving that doesn't find its way back is simply useless to the economy and doing it a disservice.

 

[Darmashkian]

Yes, this must be equally applicable for all religious institutions. That's quite irrelevant to the broader issue here.



Historically, building temples was a way of generating economic activity since it employed several people who were able to spend their income on other products which generated income for more people and so on having a multiplier effect on the economy. Over time, people (without having consciousness of the economics) realized building temple was "good for that place" because it kept people happy. Building temples was also an indirect form of taxation since it was the rich who contributed part of their money back into the society - leading to great marginal satisfaction to everyone overall. Sentimental and religious significance simply stemmed from the subconscious understanding of economics.

Fast forwarding to modern day, we now have a financial market which helps recirculate savings into investment. Any saving that doesn't find its way back is simply useless to the economy.

Irrelevant?? It's obvious you have no idea how rich they are & how much foreign funding they receive

& whether it be historically or today, people have always donated gold & money to the Temple.. Not because they worked there..Even today hundreds of businessman donate gold worth crores to Tirupathi Balaji out of gratitude to him or to receive his favours!! Not because they worked there!!

This gold rightfully belongs to the Temples & should stay there & there only! People have given it out of love & devotion..
[Oh yes, please give a link proving the above with some citations]

& if the PM is so desperate for gold, let him melt down the Golden Temple as @Dragon Ball said so.. Or ask the Babus & his MPs to donate/give 10% of the gold (which he'll refund if they want )they have. They won't dare disobey him..

& how much gold/valuables must be stored abroad as black money?

& knowing the way our govt. & babus work, much of this gold will go in the hands of many corrupt rouges .. & Please Modi is no god to keep an eye on everyone!

 

[Dragon Ball]

Gold is intrinsically worthless. It has any value you place on it and it makes no difference whether it's in electronic form or in hard form - except for the fact that the previous is marketable and helps accelerate growth.

Your ignorance reeks from your statements. If Gold was intrinsically worthless it would not have been the only viable currency in the world for the last 5000 years. If Gold was intrinsically worthless all central govt banks would not be rushing to buy it. I would say before you talk about some issue, it is better to study it rather than just blabber about inanity and make a fool of yourself.

Gold is symbolic of wealth since Indians put a premium on it. Without the Indians to value it, the global market for gold will just disappear

Gold is not symbolic wealth. Gold is the only viable currency in the world. Indians are no fools to put premium on it just for some perverse pleasure. Remember India led the world in economic might for 1700 years and the basis of it was gold. The pound lost its status as world reserve currency about 70 years ago and the dollar is about to lose its status in another 10. The butchering of gold happened in the last few years because Gold was the only challenger to Dollar as world currency.

LOL. I am aware of it.

My internet is playing up funny. Either I can access defence.pk or google at one time, not both. Do not know why it is so. So I may have missed some of your replies and answered some other without following the sequence.

 

[MarkovChain]

Irrelevant?? It's obvious you have no idea how rich they are & how much foreign funding they receive

See, a lot of the money received by Church and Mosques is not in the form of gold locked up under a pillow. They are in cash or other assets that find its way back into the economy as invest able assets. Besides, I don't want this arguement to dwindle into "you ate my cheese but not his" sort of an argument. If these institutions get donations in the form which cannot be recirculated into the economy, they should be subject to the same rules as well.

& whether it be historically or today, people have always donated gold & money to the Temple.. Not because they worked there..Even today hundreds of businessman donate gold worth crores to Tirupathi Balaji out of gratitude to him or to receive his favours!! Not because they worked there!

This gold rightfully belongs to the Temples & should stay their

No one is taking their money away - just converting from one form to another which is more productive.

[Oh yes, please give a link proving the above with some citations]

Check out this book:
Festivals, Tourism And Social Change (Tourism and Cultural Change): David Picard: 9781845410476: Amazon.com: Books

& if the PM is so desperate for gold, let him melt down the Golden Temple as @Dragon Ball said so.. Or ask the Babus & his MPs to donate 10% of the gold they have. They won't dare disobey him.

& how much gold/valuables must be stored abroad as black money?

& knowing the way our govt. & babus work, much of this gold will go in the hands of many corrupt rouges .. & Please Modi is no god to keep an eye on everyone!

It's not a case of being desperate for gold - I repeat for the last time - just a case of converting from a non productive form to a productive form.

 

[Dragon Ball]

Look at the flip side. Space mining kicks in and gold is found in abundant quantity across the solar system - the price of gold will tank. Keeping ifs and buts aside, having a marketable investment >>>> hiding something under your pillow.

Boy, oh boy. I see a bakra in you for halal. The price of your stocks will tank, then what will happen to your marketable investments. Oil was riding so high only last year and yet this year it is gone, puff.

 

[MarkovChain]

Your ignorance reeks from your statements. If Gold was intrinsically worthless it would not have been the only valuable currency in the world for the last 5000 years. If Gold was intrinsically worthless all central govt banks would not be rushing to buy it. I would say before you talk about some issue, it is better to study it rather than just blabber about inanity and make a fool of yourself.

Thank you for taking this to a personal level.
Check out:
Intrinsic value (finance) - Wikipedia, the free encyclopedia
"In finance, intrinsic value refers to the value of a company, stock, currency or product determined through fundamental analysis without reference to its market value"

Why Gold Has Always Had Value
"Other than looking pretty, and acting as a former currency, gold is seemingly uninteresting, with no intrinsic value other than the value humans have attached it"

Perhaps you should get an understanding of rudimentary finance and economics before making a scene of yourself.

 

[Spy Master]

What do the temples do with Gold? i mean Temple is a place where Hindus worship their gods? right? What's Gold for?

 

[MarkovChain]

Boy, oh boy. I see a bakra in you for halal. The price of your stocks will tank, then what will happen to your marketable investments. Oil was riding so high only last year and yet this year it is gone, puff.

Gold never falls? I'm not muslim.

 

[Dragon Ball]

Thank you for taking this to a personal level.
Check out:
Intrinsic value (finance) - Wikipedia, the free encyclopedia
"In finance, intrinsic value refers to the value of a company, stock, currency or product determined through fundamental analysis without reference to its market value"

Why Gold Has Always Had Value
"Other than looking pretty, and acting as a former currency, gold is seemingly uninteresting, with no intrinsic value other than the value humans have attached it"

Perhaps you should get an understanding of rudimentary finance and economics before making a scene of yourself.

Why did humans attach value to gold and not to say tungsten? Tungsten looks just as good as gold. So have you wondered why some stuff get human sentiments attached to it while others fall by the way side? When you understand this, then you would understand economics. It is you who are making a scene of yourself.

 

[MarkovChain]

Why did humans attach value to gold and not to say tungsten? Tungsten looks just as good as gold. So have you wondered why some stuff get human sentiments attached to it while others fall by the way side? When you understand this, then you would understand economics. It is you who are making a scene of yourself.

Value is different than "intrinsic value". Did you bother reading or trying to understand my post other than trying to make your own assumptions about what I posted?

 

[uparyupari]

Gold is not symbolic wealth. Gold is the only viable currency in the world. Indians are no fools to put premium on it just for some perverse pleasure. Remember India led the world in economic might for 1700 years and the basis of it was gold. The pound lost its status as world reserve currency about 70 years ago and the dollar is about to lose its status in another 10. The butchering of gold happened in the last few years because Gold was the only challenger to Dollar as world currency.

Gold is the foundation of our currency because Indians fancy it. Without that it is no better than copper or aluminium etc. We like the shiny metal that do not oxidise and retains its shape and look. The ultimate consumer goods.

Gold is also soft and malleable and its easy to make jewellery out of it. It is these properties that make it valuable to Indians.

Modern economy is built on electronic credit. Its similar to a bit coin, only it is controlled by the banks. That electronic credit is backed by the Us military might and NATO military might.

That is why any new military power and a new banking system can overturn the modern economy and US dollar.

Gold is only the backup plan. As you rightly said, not too many people in the world own gold. Common Indians own gold, but many in the US own guns. That kind of power is also the foundation of currency or credit.

My internet is playing up funny. Either I can access defence.pk or google at one time, not both. Do not know why it is so. So I may have missed some of your replies and answered some other without following the sequence.

Could be some form of internet attack. Why not log of and use a proxy to log in again ? That should solve the immediate problem.

 

[Dragon Ball]

Gold never falls? I'm not muslim.

Gold never falls. It is being brought down though banks and other govt mechanism. A tola of gold was valuable 100 years ago and it is still worth 26 thousand rupees today despite govt mechanizations. What is the value of rupees I would have used to buy a tola of gold 100 years ago compared to today?

Value is different than "intrinsic value". Did you bother reading or trying to understand my post other than trying to make your own assumptions about what I posted?

Yes if you understood its intrinsic value or value, you would not be making this foolish argument. If you understood the property of Gold you would know why it is the only currency which will outlast all currencies in the world. That is its intrinsic value.

 

[MarkovChain]

Gold never falls. It is being brought down though banks and other govt mechanism. A tola of gold was valuable 100 years ago and it is still worth 26 thousand rupees today despite govt mechanizations. What is the value of rupees I would have used to buy a tola of gold 100 years ago compared to today?

Real Rolling Gold Returns compared to Stocks — Visualizing Economics

For the period 1976-2012, the average returns were stocks = 6.7% and gold = 2.5%.

This is turning silly.

Yes if you understood its intrinsic value or value, you would not be making this foolish argument. If you understood the property of Gold you would know why it is the only currency which will outlast all currencies in the world. That is its intrinsic value.

Quoting intrinsic value again:
Intrinsic value (finance) - Wikipedia, the free encyclopedia

In finance, intrinsic value refers to the value of a company, stock, currency or product determined through fundamental analysis without reference to its market value

Can you please derive the intrinsic value of gold based on future cashflows from it?

 

[Dragon Ball]

Could be some form of internet attack. Why not log of and use a proxy to log in again ? That should solve the immediate problem.

I could not log onto to google either to access proxy.

 

[uparyupari]

I could not log onto to google either to access proxy.

Remove the WiFi or internet cable and restart your computer.

Then make the physical connection and first go to google.

Then go to proxy and log in to pdf.

See if that works.