here is an answer for chandresh
4. No need to buy fashion clothes - all you need is a maximum of one dress a day for seven days and then wash them on the weekend. And if you can do the laundry during the week - you can live with lesser number of dresses. Why buy more clothes than you actually need?
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Buying Fashion clothes is not the issue but buying fashion clothes as "Investment" is . Similarly buying gold to wear is not an issue but buying gold because it is a "good investment is ..
Besides buying GOLD and dumping it in lockers also does not contribute to economy. It takes money off the economy and reduces exchanges of goods and services..
Hope you do understand the difference.
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We will find a way or we will make one
Quote:
Originally posted by Smiley
here is an answer for chandresh
Buying Fashion clothes is not the issue but buying fashion clothes as "Investment" is . Similarly buying gold to wear is not an issue but buying gold because it is a "good investment is ..
Besides buying GOLD and dumping it in lockers also does not contribute to economy. It takes money off the economy and reduces exchanges of goods and services..
Hope you do understand the difference.
I do understand the difference - but many people buy fashion things as investment (either in their own times to be recognised as someone special and that is a social investment, or for future times - like stamp collections etc.)
However, you have to understand two things - firstly, in most cultures many things are done which have been 'always done' without understanding the reason, because at some time in past, the act or tradition had meaning during those times. If you follow traditions, it does not mean you have not grown up or you are doing something wrong. Take the marriage rituals for example - most educated and intelligent Indians today get married in the same manner which their grand parents adopted. That does not mean they have not grown up or they are doing something wrong.
Similarly, in olden times, both in India and the world, people bought gold not for investment but for savings, due to the special inherent properties of this metal. I remember, when I was young, even 'peetal ke bartan' was also a kind of savings (not investments). This might have been due to non availability of savings avenues like banks etc. In India, it became a family habit and slowly they developed love for the metal (specially the ones who could not afford other precious things like diamonds). Due to this love, they started buying more and more of it - and the best thing is that it was not a true expense like food which you cannot keep and eat it too. Gold is something you can keep and wear it too. In most Indian families, gold is not bought at an investment - they do not hope to make a profit out of it. In fact, gold selling is the last resort if you are in really big trouble and you have exhausted all other resources!
A very interesting fact - Indonesians like Indians use gold a lot - but their consumption is much less. Why? Because they treat it like currency - the keep changing the form of gold very frequently. You will find small gold shops even in vegetable market where women go and exchange their jewellary for some other gold jewellary. So the use is very high, but not the consumption. For them, gold is neither savings, nor investment.
And yes - what is the harm in showing off your gold jewellary in India when in the west rich people show off in designer clothes and accessories - which is purely an expense, not an investment or savings. They spend money for the name/brand, while Indians use their money to buy something which has intrinsic value.
By the way, I was born in to a very poor family so I have no inclination towards gold - in my house you would not even find 250 gms (but you will find crystal for thousands of dollars!)
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Chandresh
Advice is free – lessons I charge for!!
Location: British Columbia
Posted on: 20-10-07 10:57:41
However isnt this is a moot point her ein Canada?
If you have gold jewellery - where can a person sell (ie as chandresh mentioned in time of need)? Do indian shops take back jewellery and give u cash ? They would allow you to exchange it for other gold ..right??
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~ Morning rain
Quote:
Originally posted by morning_rain
However isnt this is a moot point her ein Canada?
If you have gold jewellery - where can a person sell (ie as chandresh mentioned in time of need)? Do indian shops take back jewellery and give u cash ? They would allow you to exchange it for other gold ..right??
In Toronto there are a lot of people who buy anything containing gold.
All pawn shops do this too.
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Chandresh
Advice is free – lessons I charge for!!
Location: British Columbia
Posted on: 20-10-07 15:22:24
Quote:
Originally posted by chandresh
Quote:
Originally posted by morning_rain
However isnt this is a moot point her ein Canada?
If you have gold jewellery - where can a person sell (ie as chandresh mentioned in time of need)? Do indian shops take back jewellery and give u cash ? They would allow you to exchange it for other gold ..right??
In Toronto there are a lot of people who buy anything containing gold.
All pawn shops do this too.
Ohok.
but do they give you what its worth??
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~ Morning rain
Quote:
Originally posted by morning_rain
Quote:
Originally posted by chandresh
In Toronto there are a lot of people who buy anything containing gold.
All pawn shops do this too.
Ohok.
but do they give you what its worth??
Oh yes - definitely.
Worth being defined as what one is willing to pay for it.
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Chandresh
Advice is free – lessons I charge for!!
