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Politics : Ask Michael Burke
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To: Freedom Fighter who wrote (68370)9/29/1999 10:58:00 PM
From: Simba  Read Replies (1) of 132070
 
Wayne:

Another reason people hold gold in SEAsia is that they use it for making Jewelry and like to wear them more than in western nations. They also like to make only 22 Karat unlike the 14 Karat jewelry in the US. This consumes more gold. It is true that they are cynical and don't trust governments, politicians and many human systems like banks and currencies. Typically the inflation has been high in these countries and they see their paper worthless.

Clearly one cannot expect them to wear soybean necklaces however high its spot price is :-)
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