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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: 5thGrader who wrote (80531)	4/1/2007 3:11:15 PM
From: arun gera	Respond to of 110194

5thgrader/Shades, Just a little comment on the gold hoarding practices in India. In India, property is typically passed down to the sons and gold to daughters and daughters-in-law. The bride's father would typically spend as much on a daughter's wedding as the price of a small house. Till some years ago, all property was bought without borrowing from a financial institution. It is considered shameful for families, if they are forced to take a loan against the house. And it is held against the husband if a wife's gold needs to be pawned to meet the financial needs. Most of India works without any real protection from the law. Yet, it is not often that the gold jewellery of a woman is stolen at knife/gun point point or seized by the government. In 1991, Indian government finally yielded to opening up Indian economy. That was when India had only a few weeks of foreign reserves left. The Indian government had to pledge physical gold in London to ward of a crises. Maybe the shame associated with pledging family gold woke them up. -Arun

To: 5thGrader who wrote (80531)	4/1/2007 4:01:44 PM
From: bart13	Read Replies (2) \| Respond to of 110194

I do not think we will end up with a world like that, but when very educated people like Jay Chen tell me that gold in a very short time is going to 10K per ounce I get confused. I don't see if he really believes that how he can't also believe its going to be total anarchy and chaos all over the globe. My own current longer term target is at least $3k and your points are somewhat well taken about military and fascistic government actions... but do also recall that gold 20x'ed in the '70s, 20x the 2001 $250 bottom is $10,000, and total anarchy and chaos all over the globe did not occur in 1980 or thereafter.