Can Temple Gold Help the Rupee?

[naveen mishra]

South Koreans donated their family silvers to save the Won from total collapse during the 1997 Asian financial crisis.

I was there seeing for my own eyes people lining up to part with their gold rings、necklaces etc for the good of the country.

Indians should do the same now for their country.

But I suspect Indians are not as patriotic as the South Koreans?

yes i agree ,world largest stock of gold must be India, Indian women are very passionate about gold , average estimation that middle class women having at least 300 g gold jewelry, and poor even BPL having at least 50g gold(weather they have food or not but sure they have some gold)

roughly estimated gold stock in India is 70000 ton gold ,

so if they will donate , that will enough

but i guess our government it efficient enough......soon will come out

 

[Indo-guy]

South Koreans donated their family silvers to save the Won from total collapse during the 1997 Asian financial crisis.

I was there seeing for my own eyes people lining up to part with their gold rings、necklaces etc for the good of the country.

Indians should do the same now for their country.

But I suspect Indians are not as patriotic as the South Koreans?

in 1945 when India was a poor country , reeling under British Raj....Indian leader Subhash Chandra Bose escaped from Britsh custody . He later on went on to raise Azhad Hind Sena from Indian soldiers caught as POW by Japanese imperial army .

Subhash Chandra Bose fondly called as Netaji ( literally means Beloved Leader ) called for donations to fund newly established army ....Several of Indian women that time donated their ornaments ....this is historical fact !!!

If the time comes ...Indian people can do the same again .

At present Indian government does not think problem is big enough to go to the people ...instead of donating gold ...even if people stop buying gold for some time . It will help country ....

If you are perennial India -hater like most Chinese , you will obviously suspect patriotism of Indians !!!

 

[peaceful]

our 3.5 trillion dollars foreign reserve will ensure the stablility of our currency and economy. india should honestly admit its own wrong policies and start to follow our model.

 

[Marxist]

BJP to oppose govt move to take over gold from temples: Swamy

HYDERABAD: The BJP will oppose government's reported move to take into possession the gold belonging to some temples in a bid to mitigate the crisis caused by the yellow metal, Subramanian Swamy, former union minister and BJP leader said.

Recently, Prime Minister Manmohan Singh said that the current account deficit is mainly on account of huge imports of gold, coal and higher cost of crude oil. Recently, RBI has also imposed certain curbs to discourage gold imports. All these measures were aimed at strengthening the rupee against the dollar.

"Government should not take gold from temples. These (acts) are anti-national. We will all oppose it. We will challenge it in the court. They already tried to gold-coat the Tirupati temple, but courts have stopped it," Swamy told reporters on the sidelines of a meeting.

Referring to media reports that RBI is discussing with banks on how to convince temple trusts to deposit their hoard of idle jewellery that could be converted into bullion, Swamy said if the government is serious about solving the foreign exchange crisis, it should ask the people at the helm of affairs to return the deposits they made in foreign banks.

Earlier, delivering a lecture on 'Declining Rupee value-UPA Government Failure', Swamy suggested that RBI should take initiative to sell at least $20 billion of its foreign reserves to tame Dollar.

"They should do it in one blow so that it comes down to Rs 50 (per dollar) in which ways all these profiteers will lose their wealth," Swamy opined. Currently the dollar is trading at Rs 65.70.

He also suggested that the Government should abolish P-Notes which are said to be root cause for the forex crisis. P-Notes or Participatory Notes are the instruments used by investors or hedge funds that are not registered with the Securities and Exchange Board of India ( Sebi) to invest in Indian securities.

The BJP leader said these notes are one of the reasons for rupee fall and hence the government should discourage them.

Describing the UPA government as "failure" in handling the financial crisis, Swamy opined that large-scale corruption has contributed to rupee fall.

BJP to oppose govt move to take over gold from temples: Swamy - The Times of India

 

[sasi]

Swamy said if the government is serious aboutsolving the foreign exchange crisis, it should ask the people at the helm ofaffairs to return the deposits they made in foreign banks.

 

[he-man]

Govt should have invested more in gold............it can still try to buy gold from people

 

[Indo-guy]

No proposal to convert idle gold into bullion: RBI - The Economic Times

 

[Indo-guy]

Already political bickering over this particular proposal has started...No government will ever dare to stir hornet's nest like issues such as these involving Religious sensitivities that when preparing for general elections ....

We will oppose govt's move to take over gold from temples: BJP - The Times of India

My mistake ..already has been posted by @Marxist

 

[he-man]

Already political bickering over this particular proposal has started...No government will ever dare to stir hornet's nest like issues such as these involving Religious sensitivities that when preparing for general elections ....

We will oppose govt's move to take over gold from temples: BJP - The Times of India

My mistake ..already has been posted by @Marxist

as usual god is rich when ppl die of hunger

No proposal to convert idle gold into bullion: RBI - The Economic Times

congress is allergic to any sensible thought

 

[bronxbull]

Its criminal that the temple has 80 billion dollar worth gold.. why are they sitting on it?

It is patrimony.

 

[livingdead]

It is patrimony.

whatever.. they should spend more on charity

Swamy said if the government is serious aboutsolving the foreign exchange crisis, it should ask the people at the helm ofaffairs to return the deposits they made in foreign banks.

that is a small amount.. swamy is playing politics as usual, thats not how economic policy works.

 

[bronxbull]

There is enough charity already,filling up the pockets of corrupt politicians is not charity.

Ask people to stop leading a lavish lifestyle on borrowed money.

 

[sasi]

that is a small amount.. swamy is playing politics as usual, thats not how economic policy works.

how economy works by looting the country?(2g,cwg,coalgate,etc.)
then sit on 2500 lakh cr projects from oil exploration to infrastructure projects without doing anything?
Why the people for pay for congra$$ dumbness?
Even if we give ,can u gurantee these asshole screw don't as by bringing another corruption !
Another thing, just because amount is small. Are u saying let them keep it foreign accounts!

 

[Arjun93]

No thanks , we are not wasting the treasure of our ancestors on an economic situation created solely by kangress headed by Sonia Giovanni and Raul Vinci. You spend that temple treasure and get the rupee back to Rs 50 and then UPA will launch an Iphone security bill distribution free Iphones to everyone. All these steps taken by Kangress are dead investments that do not simulate the economy and are solely meant to win votes. I would say it's good the rupee is declining and the prices rising. I hope it will teach the people a good lesson not to elect Pseudo Seculars in the next general elections.

For now , 8000 Indians are applying to go to Mars
http://articles.timesofindia.indiat...1617994_1_human-mission-mars-one-bas-lansdorp

However , if Namo is not elected in the next elections, then pretty sure 1 billion more will apply to leave Earth for Mars. The left over 200 million being the minorities who want to enjoy pseudo secularism and the likes of DOGvijay Singh who want to give it to them.

 

[Marxist]

VHP writes letter to RBI, asking them to lay off Hindu Temple Gold, stating it belongs to devotees