Gold monetisation and sovereign gold bonds schemes have advantages - Moneylife

Gold monetisation and sovereign gold bonds schemes have advantages - Moneylife

My Article:



Gold and jewellery form part of ‘secret reserves’ of institutions and individuals. Until the government is able to establish its own credibility as a guardian of trust, there will be bickering...Read on



M G Warrier See online comment: My online comment with reference to an article captioned “Can anything beat the allure of gold?” by Madan Sabnavis published in The Hindu Business Line on September 11, 2015 and an interesting interaction with a reader reproduced below: September 12, 2015 Comment by Radhesh: It is a challenge to make the LADY OF THE HOUSE to part with gold no matter in any form or how attractive a gold deposit scheme. Trusts, temples and HNI's can find this scheme attractive. My online response: At least, let people start talking about gold and jewellery. Gold stock, like any other national resource need to be assessed and accounted. Once gold is restored its position as a commodity and the lure and secrecy part are detached, our domestic stock of gold will play its natural role in India Growth Story. We are stretching too farthe fear of 'THE LADY OF THE HOUSE'(taken from one of the comments) and the right of individuals and institutions to be secretive about gold. M G Warrier, Mumbai Radhesh replies: Radhesh wrote: "@M Govinda , Women give their jewellery when their is a financial emergency in their home, hoping that they will get it back. Asking THE LADY OF THE HOUSE to give her jewellery for this scheme is a bit too ambitious. As gold needs to be given in the form of coins and bricks. In case you come across any LADY who has willingly parted her jewellery for this scheme do let all us know. Based on facts I shall definitely change my opinion.". My reply: Hope this response will be published for the benefit of Radhesh! The schemes are yet to be formulated and launched. What we know is, the broad contours have been approved by Union Cabinet. Send a mail to mgwarrier@gmail.com now and I will remember to update Radhesh about the progress of the scheme one year after launch. Things do not change in a day. Even Rome was built over a period of time. And, even Greece can have problems! M G Warrier, Mumbai

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