Welcome to Warrier's Daily COLLAGE December 3, 2020 Thursday Hiranmayena Pathrena Sathyasyapihitam Mukham*... https://youtu.be/SFQFNjkS9rs (Isavasyopanishad Stanza 15) *See quote below. 16th Century Dramatist Thomas Dekker translated this, in the language he can communicate, nicely! 🙏 M G Warrier A Music https://www.youtube.com/watch?v=GBN9Li092qM (Ye Dosti Hum Nahi Thodenge...) (Link Courtesy: Ramesh Warrier) Tomorrow's Theme: Post-Retirement Life Quote for the day "A mask of gold hides all deformities." THOMAS DEKKER, Old Fortunatus B Gold Management 1) Gold Management Needs A Makeover: Suggestions made in April 2012 https://www.thehindubusinessline.com/opinion/gold-management-needs-a-makeover/article20449587.ece1 (This is a 2012 article. My 2020 book "Restoring TRUST in Governance" has a chapter "India's Gold Getting A Makeover", though still a pious wish! Excerpts below- Warrier) "Future Course Reserve Bank of India should counsel GOI to understand the significance of the treasure in the form of gold stock with institutions and individuals lying idle in the country. As a short-term plan, concrete measures should initiated for putting at least some 20 percent of the domestic gold stock to productive use in the next 5 years. This will reduce the country’s gold import bill considerably. This can be achieved by: ● Making a realistic assessment of gold stock remaining idle in the country ● Providing incentives to holders of gold stock to properly account for the stock with them ● Making gold deposits with banks remunerative ● Introducing gold-backed financial instruments which are not dependent on imported gold (The tiny instruments now available in the form of Gold ETFs, gold coins and Sovereign Gold Bonds are indirectly dependent on import and have not attracted significant investor-interest) ● Quickly arrange for infrastructure, technology support and linkages for gold refining and certification facilities of international standard RBI and GOI could consider even deficit financing for procurement of domestic gold as this could herald the emergence of a ‘Golden Era’ in the country's history."