Most of the world's gold 99% was in Indian region 3000 years back. 95% of gold was in India till 1500 years back, when rest of the world was happy with silver. Thanks to all persians, mughals and europeans, we lost so much treasure. However, they could loot it only from the rulers, but not individuals. Every citizen of this country must be appreciated for saving their from the foreign invasion. Its due to each of our ancestors, India still have so much gold preserved.
RE:India once had most gold
by ranjith nambiar on Jun 08, 2007 11:14 PM
do you know where the peacock throne is right now... and from where its originally from? dont talk bullsh*t without knowing the facts.
I do not know why gold has been given so much importance by Mankind,when there are other metals that have been far moew useful to mankind like Iron steel
145,000 tonnes of Gold = 24.17 gms of Gold per person(for 600 Crores of people roughly worldwide)
Hence, If all the locked in Gold is thrown out for sale, the value of Gold may fall drastically. Because Not everyone needs 24gms of Gold, compensating for the affection of some.
Only because its kept locked, the demand and scarcity maintains the price of Gold so high. Because its rare, the love for it is high.
Gold is one of the most sought after commodity since ancient times. It is the indicator of wealth, prosperity, power and stability. Many wars have been fought over it and several civilizations have been wiped out. In recent times, in the early nineties, India had to mortgage (Temporarily though!) a little of its gold reserves to bail out of of an impending economic disaster. Gold mining is also very polluting. The process of leaching involves a lot of cynanides being mixed to the ore dust. This cyanide enters the ground further contaminating the eco system.
RE:Gold - Some insights
by Manohar on Jun 08, 2007 11:11 PM
My understanding of why gold was given high importance - gold was used as a currency in india. gold coins do not get spoiled. since the availability of the metal was limited, people could not create fake currency. Had it been someother metal, people could have easily created fake coins.
RE:RE:Gold - Some insights
by Manohar on Jun 08, 2007 11:17 PM
continuation... The attribute that a good currency should have is that, it should be difficult to fake it. Since gold availability is limited and the mining of it is so difficult, gold became the natural choice. Let me knwo your thoughts
RE:Gold - Some insights
by Pippy on Jun 08, 2007 08:42 PM
Gold does not pollute more than any other mined substance; and cyanide usage is strictly controlled. gold providesthe world (especially poor countries like Ghana) with income, infrastructure and alleviates poverty.
RE:Gold - Some insights
by Ajit Bhatt on Jun 09, 2007 12:25 PM
dear friends, Only controlled is the true info regarding the heavy pollution/ethnic massecres &cleansing created by Western world owned companies operating in such poor african nations to extract precious metals like tantalum, platinum, gold & diamonds.
