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(The Register)   Why does a smartphone maker have 2kg of gold bars in the office?   (theregister.com) divider line
    More: Awkward, Communist Party of China, Hu Jintao, Government of India, China, Xi Jinping, People's Republic of China, India, Zeng Qinghong  
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1559 clicks; posted to Business » on 08 Jul 2022 at 11:50 AM (11 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



34 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-07-08 3:14:54 AM  
That's only US$113811, no big deal. Better question is why they aren't using in their phones. Those USB contact points don't coat themselves, ya know.
 
2022-07-08 9:14:02 AM  
Classic tax fraud. Make huge amounts of cash in a market with high taxes, then open a 'subsidiary' in a country with low taxes. Have the subsidiary charge the parent company huge fees for things like accounting or engineering so that the parent company shows zero profit - or even a loss. All the money sent to the low tax subsidiary pays for the services, with all the leftover now being profit 'earned' in a low tax country.

The Chinese are no one's friend, and India is getting bent over by them.
 
2022-07-08 11:20:14 AM  
Because large black and white prints of his tiny penis might be embarrassing?
 
2022-07-08 12:19:02 PM  
2kg of gold is what.. about the size of a snickers bar?

Holding physical gold is relatively common in India as I understand it (at least among the upper-middle-class and up) and that seems like a pretty convenient way to do so.
 
2022-07-08 1:02:07 PM  
I knew a guy who owned a jewelry store who had a 1 pound bar of silver on his desk as a paperweight.
 
2022-07-08 1:04:13 PM  
People think that 3 months salary in gold for an average Manhattanite is somehow newsworthy?

Yikes.
 
2022-07-08 1:07:24 PM  

OptionC: 2kg of gold is what.. about the size of a snickers bar?

Holding physical gold is relatively common in India as I understand it (at least among the upper-middle-class and up) and that seems like a pretty convenient way to do so.


My wife's family gifted us a little more than twice that as part of the marriage ceremony. Gold in Asia is just good fortune to have around.

2kg may seem like a lot to someone who is working for $10/hr, but as a dowry? It's kinda a piss poor amount.

Hell, my sisters in law got HOUSES as marriage gifts. I felt like a total schmuck with only an apartment to bring to the marriage, but at least my wife was the first sister to be married.
 
2022-07-08 1:10:26 PM  

Flushing It All Away: 2kg may seem like a lot to someone who is working for $10/hr, but as a dowry? It's kinda a piss poor amount.


Flushing It All Away: People think that 3 months salary in gold for an average Manhattanite is somehow newsworthy?

Yikes.


That's $116,000 in gold value, so yes, that's a lot, that's almost 4 years pay for most people. Average income in the US is $31,133/year.
 
2022-07-08 1:13:57 PM  
But is it heavier than 2 kg of feathers?
 
2022-07-08 1:28:29 PM  

phimuskapsi: Flushing It All Away: 2kg may seem like a lot to someone who is working for $10/hr, but as a dowry? It's kinda a piss poor amount.

Flushing It All Away: People think that 3 months salary in gold for an average Manhattanite is somehow newsworthy?

Yikes.

That's $116,000 in gold value, so yes, that's a lot, that's almost 4 years pay for most people. Average income in the US is $31,133/year.


Only if you include people who don't work.

Median full time workers are paid over $1000/week and the median home is over $450k.

$100k is what a two car garage costs to build, so yes, it's not a small amount of money, but it's also not that much either.
 
2022-07-08 1:36:33 PM  

OptionC: Holding physical gold is relatively common in India as I understand it (at least among the upper-middle-class and up) and that seems like a pretty convenient way to do so.


Yup.  This is a very Indian thing to do.
 
2022-07-08 1:40:32 PM  
Fwiw, two 1kg gold bars stacked is about the size of an iPhone. We aren't talking Scrooge McDuck pools of gold coins here.

sdbullion.comView Full Size
 
2022-07-08 1:57:06 PM  

Flushing It All Away: Median full time workers are paid over $1000/week and the median home is over $450k.

$100k is what a two car garage costs to build, so yes, it's not a small amount of money, but it's also not that much either.


lol. Yeah, anyone from NYC is hilarious when it comes to money, you guys don't live in the real world (and I lived in that area for awhile). 

The house I live in is 1700' sq ft, with a basement the same size (half finished), and two car garage, as well as an acre of land. It is valued at around $225k. 

PS - $1000/wk is $50,000 a year. Which would be over 2 years of pay worth of gold in this case.
 
2022-07-08 2:03:19 PM  
If I have 2 kg of gold I consider myself... out of gold.
 
2022-07-08 3:07:05 PM  

Flushing It All Away: Fwiw, two 1kg gold bars stacked is about the size of an iPhone. We aren't talking Scrooge McDuck pools of gold coins here.

[sdbullion.com image 850x625]


Obviously they're ready for people who want to compare the size of gold and its features to an iPhone.
 
2022-07-08 3:21:36 PM  

felching pen: That's only US$113811, no big deal. Better question is why they aren't using in their phones. Those USB contact points don't coat themselves, ya know.


In the states theyd rush in and give everyone medals. Land of crooks and liars.

More Law and Order in red china i suppose.
 
2022-07-08 3:22:11 PM  

OptionC: 2kg of gold is what.. about the size of a snickers bar?

Holding physical gold is relatively common in India as I understand it (at least among the upper-middle-class and up) and that seems like a pretty convenient way to do so.


Very common
 
2022-07-08 3:22:58 PM  

brainlordmesomorph: I knew a guy who owned a jewelry store who had a 1 pound bar of silver on his desk as a paperweight.


So where did u hide the body??
 
2022-07-08 3:23:58 PM  

King Something: But is it heavier than 2 kg of feathers?


No
But takes up alot less space
 
2022-07-08 3:24:48 PM  

Flushing It All Away: Fwiw, two 1kg gold bars stacked is about the size of an iPhone. We aren't talking Scrooge McDuck pools of gold coins here.

[sdbullion.com image 850x625]


Wow
Set for life

Id rather have Eth
 
2022-07-08 3:25:13 PM  

Linux_Yes: More Law and Order in red china i suppose.


Sure, if you like living in a totalitarian government that can disappear you and your entire family without a peep. Having lived there for years, I can tell you, it's not the kind of thing you want to live under.
 
2022-07-08 3:25:41 PM  

Linux_Yes: Flushing It All Away: Fwiw, two 1kg gold bars stacked is about the size of an iPhone. We aren't talking Scrooge McDuck pools of gold coins here.

[sdbullion.com image 850x625]

Wow
Set for life

Id rather have Eth


Well, you are an idiot, we have established this in multiple threads.
 
2022-07-08 3:25:44 PM  

Ziabatsu: If I have 2 kg of gold I consider myself... out of gold.


Cant take it with you
 
2022-07-08 3:26:36 PM  

Ziabatsu: If I have 2 kg of gold I consider myself... out of gold.


Fark user imageView Full Size
 
2022-07-08 3:29:07 PM  

phimuskapsi: Linux_Yes: More Law and Order in red china i suppose.

Sure, if you like living in a totalitarian government that can disappear you and your entire family without a peep. Having lived there for years, I can tell you, it's not the kind of thing you want to live under.


I know
They spy on everything u do and lead in facial recognition tech.

Im just wondering how long before the states end up that way.  Not w communism but with fascism.
 
2022-07-08 3:30:06 PM  

phimuskapsi: Linux_Yes: Flushing It All Away: Fwiw, two 1kg gold bars stacked is about the size of an iPhone. We aren't talking Scrooge McDuck pools of gold coins here.

[sdbullion.com image 850x625]

Wow
Set for life

Id rather have Eth

Well, you are an idiot, we have established this in multiple threads.


Prices are as sweet as they will ever get.

Youll remember that in 10 to 20 years
 
2022-07-08 4:34:40 PM  

Linux_Yes: Ziabatsu: If I have 2 kg of gold I consider myself... out of gold.

Cant take it with you


Sez the guy with the Trezor wallet
 
2022-07-08 5:08:53 PM  
Maybe if you're Samgung.

usercontent.oneView Full Size
 
2022-07-08 8:30:00 PM  

scanman61: Linux_Yes: Ziabatsu: If I have 2 kg of gold I consider myself... out of gold.

Cant take it with you

Sez the guy with the Trezor wallet



which cost me a whopping 160 bucks.

jesus you're thick.
 
2022-07-08 9:46:09 PM  

King Something: But is it heavier than 2 kg of feathers?


Yes, but only a slight difference (and 0 if you weigh them both in vacuum).
 
2022-07-09 12:54:19 AM  

King Something: But is it heavier than 2 kg of feathers?


What's a henway?
 
2022-07-09 12:55:25 AM  

Ziabatsu: If I have 2 kg of gold I consider myself... out of gold.


Found Ron Swanson's Fark handle
 
2022-07-09 3:51:53 AM  

brainlordmesomorph: I knew a guy who owned a jewelry store who had a 1 pound bar of silver on his desk as a paperweight.


FWIW, 1 pound of silver is just 2.64 cubic inches, and is worth just $260 or so.
 
2022-07-09 3:53:14 AM  

Flushing It All Away: Fwiw, two 1kg gold bars stacked is about the size of an iPhone. We aren't talking Scrooge McDuck pools of gold coins here.

[sdbullion.com image 850x625]


When's the last time you had an iphone-sized chunk of gold laying around your office?
 
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