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Gold Crash
- Thread starter bearice
- Start date
I think the biggest problem in India is land. I read somewhere that 1 acre of good agricultural land costs $200,000 to $400,000 in India.Quote from Lucky Twins:
The small city person (which is 90% of India) believes in land, gold/silver and fixed deposits with their local post office.
I know India is a rich country but real estate and land is eating all the Indian money.
So now to save Indian industries and infrastructure either Indian real estate has to be sold or gold has to be sold. I do not see any other way for india to get multi-trillions dollars investment because now rich countries do not have money.
Quote from bearice:
I think the biggest problem in India is land. I read somewhere that 1 acre of good agricultural land costs $200,000 to $400,000 in India.
I know India is a rich country but real estate and land is eating all the Indian money.
So now to save Indian industries and infrastructure either Indian real estate has to be sold or gold has to be sold. I do not see any other way for india to get multi-trillions dollars investment because now rich countries do not have money.
Very correct but they sell gold and land to buy what????
To satisfy the massive demand and to support Indian industries and infrastructure.Quote from Lucky Twins:
Very correct but they sell gold and land to buy what????
India will have to crash real estate and land prices someway to save industries and infrastructure.
India will have to withdraw money from real estate and land and give it to industries and infrastructure or else sell gold.
Sky-high real estate prices are useless.
Quote from bearice:
To satisfy the massive demand and to support Indian industries and infrastructure.
No I meant the instrument??? To support industries you take loans or buy their shares if they are listed. For infrastructure Govt raises taxes or people invest in Public holdings....again the instrument here is shares....stock market. There is a huge social and mental block here; itâs not easy to convince them for this change. Indians don't use credit cards, save a lot and believe in paying their loans or rather suicide if a house is mortgaged and sent for foreclosure.
The jewelry has emotional value, "this ring my mom gave me when I passed my kindergarten" âthis pendant your father gave me when he saw me the first time" âthis is from my grandmotherâ, âthis is from my trousseauâ and many more.....you want them to sell that and get convinced for an excellent electricity company whose shares they can own and double in 2 years......this will happen but not so soon. I'm gonna leave the discussion here now.......we'll see what India does in its future....not for me to predict or foresee.
My point is that there is massive quantities of hidden ancient gold in this world. When this hidden gold is available for sale, the gold price will crash immediately.
I believe USA has $100,000 Tons of gold. I know USA. It is better that USA sell its 100,000 Tons of gold before hidden gold makes gold worthless. USA is bankrupt. The same applies to India. Make your own decision.
I believe USA has $100,000 Tons of gold. I know USA. It is better that USA sell its 100,000 Tons of gold before hidden gold makes gold worthless. USA is bankrupt. The same applies to India. Make your own decision.
Quote from bearice:
There is a true story about the survivors of a plane crash where some passengers survived and some died. The plane had crashed in isolated and extreme cold mountains and there was no food for miles. The surviving passengers started eating their dead passengers and they survived for 1 month and later rescued.
Forget love for gold. Nobody can eat gold. Desperation is one of the biggest dangers.
Why do people endlessly repeat that stupid line about not being able to eat gold? You can't eat federal reserve notes either. In fact, they'd be a lot more palatable without all that green ink. Gold is simply an alternative currency. On the downside, it pays no interest. (But lately dollars have scarcely been paying interest either.) On the upside, governments can't print it. So the increase in supply is limited, unlike the case for fiat currencies. If our government ever has a sound fiscal policy the gold price will collapse once and for all. The odds of that are low, we'd have to elect about 200 Ron Pauls. In the meantime I expect gold to gradually go up, with plenty of ups and downs in between. We had a big run up in 2010 so there's nothing about the current correction that surprises me. My best guess is that gold will bottom out in the low to mid 1200s, but end the year near 1500. But that's just a guess.
Quote from rew:
We had a big run up in 2010 so there's nothing about the current correction that surprises me. My best guess is that gold will bottom out in the low to mid 1200s, but end the year near 1500. But that's just a guess.
The selling in Gold is over done - hope shorts are covered as it will rally on to $1500 in the next 8 weeks.