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Non-Tech : Climate Change, Global Warming, Weather Derivatives, Investi
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To: KennyP who wrote (14)3/17/2006 12:22:56 AM
From: Sam Citron  Read Replies (1) of 442
 
Saving money in the form of silver jewelry remains the favored method of saving among rural populations.

You're getting warmer, Kenny. Silver jewelery is the traditional bank account of rural India. So when the monsoon fails and the drought kills the crops, this silver is exchanged for food, seed, and the necessities of life. The resulting glut quickly depresses silver prices even in faraway London and New York. So that is how precipitation patterns in India affect silver prices.

Sam
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