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The $10K Per Ounce Figure


wealthymattersGold bugs tend to get long term trends right.

They however routinely make the mistake of thinking that others are as cautious, prudent and willing to err on the side of caution as they themselves.

Most of the world is not.

So their scenarios tend to pan out, but not before may others have been acclaimed right and then proven wrong by time.

Read what Jim has to say and think about it if ever you are contemplating getting rid of old gold stocks and going gold free. But don’t waited with baited breath to realize such prices either.

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On Why Bitcoin Can’t Replace Gold Bullion


Physical gold is prized as “real” money in that in physical terms it is tradable for remarkably constant quantities of staples such as wheat or a fine set of clothes ,across cultures and down the ages.

Unfortunately, Bitcoin that is supposed to behave like gold-money shows nothing of this consistency.

Here’s what Bitcoin could have purchased you since in the last few years:

1 Jan 2010

Value of bitcoin : $0.08 : Rs 3.7
What you could buy: Small packet of biscuits Read more of this post

Mercantilism


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Gold Control History


wealthymattersOn January 9, 1963, finance minister Morarji Desai announced in a nationwide broadcast that starting the next day the possession of gold — barring personal ornaments — without declaration would be illegal. A Gold Control Board was established with wide powers of investigation and seizure of persons as well as confiscation of gold. A comprehensive industry-wide regulation was also introduced. Its centrepiece: a ban on making and selling of jewellery above 14 carats, as against the prevailing trend of 22-carat ornaments.

As with the ongoing demonetisation, the policy was effectively decided by one leader who consulted few experts. This was partly because of the need to maintain secrecy and partly because Desai knew his own mind. Those who were taken into confidence turned out to be as enthusiastic about the move. Prominent among these was Chief Economic Adviser IG Patel. Read more of this post

The Shariah And Gold


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