India economics. where does the money go?

Quote from bearice:

Kuwaiti dinar has 3 times more purchasing power than USA dollar. So Kuwait is 3 times richer than USA.
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I understand the logic, but there's a flaw in there somewhere
 
Quote from Debaser82:

It is estimated the Indian public is the largest non central bank gold holder in the world.

Does a continiously rising price of gold elevates the standard of living in India and are people still adding at these levels?

thanks for any response.
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Indians will keep Adding to the Gold consumption - mostly in the retail jewlery. Almost every marraige, even the poorest have traditionally gifted gold as a sign of celebration and mutual friendships. Also, they do not sell Gold until they go Bankrupt. Its more than BLING BLING for Indians.
Considering increasing Population I would say its is a safe bet from that prospective.
Also, due to corruption and BLACK MONEY (lol) they ususally buy gold and stuff security boxes at banks.
*** THERE ARE NO CASH4GOLD*** schemes in India.. coz they will simply wont work. They would not sell what they own.
 
Quote from olias:

I understand the logic, but there's a flaw in there somewhere
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I agree. I posted here so that someone could correct me if I am wrong.
 
Quote from Kassz007:

Don't bother trying to make sense out of what that guy posts. He has no grip on reality.
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One day you will understand my posts and writings. One day you will support me because I know this world and that day is very near.
 
Quote from Kassz007:

Don't bother trying to make sense out of what that guy posts. He has no grip on reality.
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I forgot to write.

2 USA secret service agents said to me "you are intelligent"
 
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