• Tuesday, November 20, 2018

Should we mine gold for long term economic stability?

Discussion in 'Pakistan Economy' started by 313ghazi, Sep 14, 2018.

  1. 313ghazi

    313ghazi SENIOR MEMBER

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    This is a question as much as it is a suggestion, so you more economically minded people are welcome to comment. I was wondering if it was a good idea for a state owned company to dig gold from Reko diq, sell only the amount required to cover the cost of the project and keep the rest in a national reserve. Surely long term that would provide our economy with a lot of stability?

    What do you think?
     
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  2. Retired Troll

    Retired Troll BANNED

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    No
     
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  3. war&peace

    war&peace ELITE MEMBER

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    Nice suggestion. Gold is the currency of the future.
    But we are not gold diggers.
     
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  4. New World

    New World SENIOR MEMBER

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    Good suggestion, gold as an foreign reserves.
     
  5. 313ghazi

    313ghazi SENIOR MEMBER

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    People have been doing it for hundreds of years. It's not impossible to do. We may not have the tech or know-how to do it to modern standards, but that expertise can be purchased?
     
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  6. Verve

    Verve SENIOR MEMBER

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    Why?
     
  7. 313ghazi

    313ghazi SENIOR MEMBER

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    Because he's a troll.
     
  8. Handshake

    Handshake FULL MEMBER

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    We have a huge reserve of gold,copper and other minerals all over pakistan.
    4 years back 2 person started jade mining in muhmand agency and now they worth 30billion plus. government of pakistan should ease mining policy and help experts to start mining which will generate a huge income to our reserves. The amount of minerals we have in pakistan is enough for next 100 years.
     
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  9. 313ghazi

    313ghazi SENIOR MEMBER

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    Copper especially is in huge demand. I do think though we would benefit from exporting copper products (like pipes, wire, circuit boards) - rather than just the raw product. We should try to never export just raw materials, otherwise we'll never become a developed economy.
     
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  10. Handshake

    Handshake FULL MEMBER

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    I am agree with what you have mentioned but not just copper in much demand also more minerals from pakistan has huge demand.i think government should think seriously about it. Atm no one can invest such a huge amount in factory so we have to sell raw. 20 Billion$ plus per year is what i estimated will come to our reserves plus huge taxes.
     
  11. Sinnerman108

    Sinnerman108 SENIOR MEMBER

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    All these posts and not enough effort to learn.

    Maybe you were too young, when USSR collapsed, and their government was showing gold bullion on state TV to assure people ruble will hold.

    Economics is a much complex game,
     
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  12. war&peace

    war&peace ELITE MEMBER

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    If he said, yes then it won't start a trolled discussion. I also added some fun but only after some serious thoughts.
     
  13. XDescendantX

    XDescendantX FULL MEMBER

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    NO! Gold is very rare & will be one of the most important resources for advance technology decades & even centuries from now. It is already being used on satellites, space suits, and nano-tech.
     
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  14. war&peace

    war&peace ELITE MEMBER

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    In essence, sliver(dirham) and gold (dinar) are legitimate currencies in Islam because of their intrinsic value. And world is slowly moving towards it and due to the failure modern monetary system. Do you know that in Israel gold and silver coins are being used as currencies already.
     
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  15. Darth Vader

    Darth Vader SENIOR MEMBER

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    Pakistan should but i wouldn't jump on the old media hoo haa that under every stone is billion $ gold buried
    Need moderate approach with modern tech involved they will need help.
    It should be gov company with proper oversight otherwise let it stay in the ground

    I have better suggestion let Pakistan solve problem on the ground 1st otherwise it will fill only few pockets rather than helping Pakisan itself
     
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