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India on the other hand has little to no trust of gov’t or the official bodies and bureaucrats below it. They have seen little change in their world overall. The intelligent rising middle class either aims to find their full potential outside the country or working for a company that services the needs of the developed world, particularly on the IT front. They remain a rural thinking economy with a rejection of mass retailing and appear to accept change only when it suits them. Immersed in religion and tradition they are unlikely to continue on the path to anywhere near the development that China is experiencing.
The tradition with heavy religious overtones applies to the buying of gold. Not only is it a religious expression, but a family statement of supplying financial security to the next generation. In that they share a similar attitude to China.
In India there is a marked distance between the ordinary Indian and the wealthy upper classes. In China they share the same way forward as each other, at the moment. The Indian family in general does not share the same objectives as government and so the nation lacks the cohesion that China does.
In China, should the gov’t deem it necessary to take its citizen’s gold into their reserves –whether by confiscation or in exchange for dated bonds or simply require some form of access to it once it is held in the banking system—we believe that the Chinese citizen would be happy to support their nation in such a strategic move. On the other hand the average gold-owning Indian would not trust his gov’t or its intentions nor feel inclined to support government with his personal gold. Full story...
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India on the other hand has little to no trust of gov’t or the official bodies and bureaucrats below it. They have seen little change in their world overall. The intelligent rising middle class either aims to find their full potential outside the country or working for a company that services the needs of the developed world, particularly on the IT front. They remain a rural thinking economy with a rejection of mass retailing and appear to accept change only when it suits them. Immersed in religion and tradition they are unlikely to continue on the path to anywhere near the development that China is experiencing.
The tradition with heavy religious overtones applies to the buying of gold. Not only is it a religious expression, but a family statement of supplying financial security to the next generation. In that they share a similar attitude to China.
In India there is a marked distance between the ordinary Indian and the wealthy upper classes. In China they share the same way forward as each other, at the moment. The Indian family in general does not share the same objectives as government and so the nation lacks the cohesion that China does.
In China, should the gov’t deem it necessary to take its citizen’s gold into their reserves –whether by confiscation or in exchange for dated bonds or simply require some form of access to it once it is held in the banking system—we believe that the Chinese citizen would be happy to support their nation in such a strategic move. On the other hand the average gold-owning Indian would not trust his gov’t or its intentions nor feel inclined to support government with his personal gold. Full story...
Related posts:
- Thirst for gold robs India's econonmy...
- No one can call gold a safe haven ever again...
- Next time you want to buy some gold, you might want to look at this first...
- Indian man spends $250,000 on a gold shirt!!!
- In booming India, all that glitters is gold...
- India in reverse as nation goes into deep slump...
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