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(Yahoo)   Indian sage: "I dreamed there was lots of gold under this ruined palace." Indian government: "Let's dig for it"   (news.yahoo.com) divider line 70
    More: Unlikely, Indians, current account deficit, Archaeological Survey of India, Indian Government, Uttar Pradesh  
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5277 clicks; posted to Main » on 15 Oct 2013 at 3:45 PM (39 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-10-15 06:04:18 PM
Maybe he's trying to free his wife from the curse that Indra put on her, by finding treasures that he himself buried in order to trick the government into tearing down a temple.

/probably too obscure even for Fark
 
2013-10-15 06:13:16 PM

ransack.: Is gold really useful for anything but hoarding?


i'm surprised nobody's mentioned its an awesome electrical conductor
 
2013-10-15 06:22:41 PM

ransack.: Is gold really useful for anything but hoarding?


Gold actually does perform a useful risk-insurance function in the third world.

Darn near all Asians have seen hyperinflation, currency collapse, government ineptitude, massive famines and brutal wars, in their own countries, in just the past 50 years. So when it all goes to crap, they ignore their local currency and go back to trading in gold. It's actually a wise investment, when you consider the alternatives available for an ignorant peasant in the rural countryside, their well-remembered history of things falling apart every few decades, and their tenuous hold on survival.

The whole Ron Paul schtick really is valid - just in Asia, not over here.

India has the added situation of having been a giant farking black hole sucking up all the world's gold for the past two thousand years. Roman authors were whining about this during the age of the Roman Empire: they had very little gold, outside of what they could get from Egypt, and every last gold coin was disappearing into the Indian ocean trade routes to buy the Romans eastern luxuries like spices, sandalwood and silk.

Plus the whole gold being an incarnation of a goddess thing.
 
2013-10-15 06:25:01 PM

evilmousse: ransack.: Is gold really useful for anything but hoarding?

i'm surprised nobody's mentioned its an awesome electrical conductor


Yup, your CPU is wired to the board with gold.

Also, gold doesn't corrode.

Also, giving a gold ring to some woman means she can stop having sex with you yet still spend all your money.
 
2013-10-15 06:27:32 PM

Glitchwerks: ransack.: Is gold really useful for anything but hoarding?

[i15.photobucket.com image 850x502]



For use as a connector.
 
2013-10-15 06:31:32 PM

The Stealth Hippopotamus: ransack.: Is gold really useful for anything but hoarding?

I'm not sure it's good for that. If it really did hit the fan people would be looking for food and shelter. Gold in and of its self produces none of this. It's a shiny piece of metal that is too weak to make into a weapon or shelter. I mean we would have to get back to "love/belonging" on Maslow's hierarchy of needs before gold became important again.

That's why I only respect preppers that are stock piling booze to barter with, these are people who have thought things out a bit. Cause when the dust settles on the brave new world people are going to be looking to get all farked up.

Gold is good on the commodities market.


Gold is a terrible for a total societal collapse. It would be useful for an economic catastrophe that is short of societal collapse. If some event causes hyperinflation, gold would probably be a good asset to be holding. And in an economic catastrophe you can't trust banks etc, so keep the real stuff, not certificates.
 
2013-10-15 06:33:23 PM
Perhaps its the solution to the American deficit and budget woes.
 
2013-10-15 07:18:20 PM

Quantum Apostrophe: Felgraf: Hah. I have not tried nanophysics based pickuplines.

So, um, what's the dividing line between nanophysics and chemistry? Or is that The Word Which Must Not Be Uttered?


Hah! Nah, there isn't really much of one. Half of what I *DO* is chemistry these days (WORK YOU farkING REACTION). We also steal from biology. Nanophysics, nanotech.. chem, bio, and physics all sort of ram together. I suppose it's a bit more distinct because we're seeking to take advantadge of specific physical properties (Namely, the surface plasmon resonance of gold and silver-which are not as scary a concept as they sound!) to bring about optically-driven self assembly. Basically creating a new branch of photo-chemistry.

If, you know, we can get it to work.

So, in short, there isn't really much of a dividing line.
 
2013-10-15 07:23:21 PM

ransack.: Mikey1969: Wow, I thought the whole 'digging for gold based on a "vision"' thing was weird, then I found THIS out:

Not all Hindu leaders are so keen to put bullion into the Reserve Bank of India's vaults. Temples sitting on about half as much gold as in Fort Knox are resisting efforts by the central bank to audit their holdings.
Indians buy as much as 2.3 tons of gold, on average, every day - the weight of a small elephant - and what they don't give to the gods is mostly hoarded.

WTF is WRONG with those people?

Is gold really useful for anything but hoarding?


Yes, but it's so hip to pretend it's just a stupid yellow metal and you're so superior to everyone else for ignoring its many applications, so carry on.

/who cares about it being completely immune to oxidation, and its ability to protect anything electroplated with it from the same
//it offers no protection from being hit with a sledgehammer, and nobody builds anything that is supposed to be admired instead of vandalized any more
 
2013-10-15 07:40:52 PM

dywed88: The Stealth Hippopotamus: ransack.: Is gold really useful for anything but hoarding?

I'm not sure it's good for that. If it really did hit the fan people would be looking for food and shelter. Gold in and of its self produces none of this. It's a shiny piece of metal that is too weak to make into a weapon or shelter. I mean we would have to get back to "love/belonging" on Maslow's hierarchy of needs before gold became important again.

That's why I only respect preppers that are stock piling booze to barter with, these are people who have thought things out a bit. Cause when the dust settles on the brave new world people are going to be looking to get all farked up.

Gold is good on the commodities market.

Gold is a terrible for a total societal collapse. It would be useful for an economic catastrophe that is short of societal collapse. If some event causes hyperinflation, gold would probably be a good asset to be holding. And in an economic catastrophe you can't trust banks etc, so keep the real stuff, not certificates.


Interestingly, across Latin America they use US dollars as a hedge against inflation.
 
2013-10-15 07:53:46 PM
"I cried the day I realized that India is going to collapse economically," the seer told the Mail Today newspaper. The dead ruler's spirit has been roaming the palace and asking for the gold to be dug up, he added.


It will collapse because you idiots can't stop thinking about gold.
bless mhatma I would love to rob some of those fkers.
 
2013-10-15 08:14:05 PM
Buy an ocarina with your hard earned rupees and play the song of time backwards.
 
2013-10-15 08:16:55 PM
It wasn't for lakh of trying.
 
2013-10-15 11:18:24 PM
Hmmm...maybe the US Treasury can sell the Indians all the gold on the books and stave off default for a few months.
 
2013-10-16 12:15:43 AM
These mother farkers have nuclear weapons. Let that sink in.
 
2013-10-16 12:46:34 AM
Mikey1969:
Indians buy as much as 2.3 tons of gold, on average, every day - the weight of a small elephant - and what they don't give to the gods is mostly hoarded.

WTF is WRONG with those people?


Nothing.  It's a cultural thing.  In India, people (especially wives) kinda sorta keep a wearable emergency savings account in their jewelry.  It's easily carried and easily hidden, in case of being displaced for whatever reason.
 
2013-10-16 02:41:12 AM
Indians buy as much as 2.3 tons of gold, on average, every day - the weight of a small elephant - and what they don't give to the gods is mostly hoarded.

Well, you can't expect an average Indian accumulating gold at a rate of over 16 tons a week to carry it all around with themself. They've got to cache the majority of it.
 
2013-10-16 11:53:04 AM
Well maybe this sage can help me find a way to get rich. Well I am waiting Mr. Sage...
 
2013-10-16 11:55:14 AM
I wonder, is that short tons (2,000 lbs), long tons (2,240 lbs), or metric tons (2,204.62 lbs) ? Is there such a thing as "troy tons" like "troy ounces" that gold is measured in? Damn non-specific news articles.

Anyway, there's 1.237 billion people in India. Anyway, 2.3 long tons of gold is 75,133.33 troy ounces of gold. That's 0.00006073834 troy ounces per person per day, or roughly 0.022 troy ounces per year.

Now, the USGS website is down because of stupid, but Wiki tells me that the United States is a net exporter of gold, producing 230 tonnes (metric tons) last year. So, the US produces 7,394,671.7107844 troy ounces each year, or roughly 20,259.3745501 ounces per day. The US population is 313.9 million, so that's 0.00006454085 ounces per person per day.

In other words, coincidentally, the United States produces as much gold per capita per day as India buys per capita per day (more or less). What this really means is that the reptiloids are transferring the gold surplus of American bodies into the gold deficit of Indian bodies in order to change the mass of the world and alter its rotation, bringing it into an orbit that is closer to their home planet. That's why overpopulation is such a problem in south east Asia, too - reptilians are trying to get as much weight over there as possible to make the planet shift.
 
2013-10-16 12:22:05 PM

kdawg7736: .


buy lo.  sell high

steal only from the poor.. its more work, but they have less power to convince the establishment to get involved in going after you.
 
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