Warrier's Collage on Wednesday August 21, 2024

Welcome To Warrier's COLLAGE On Wednesday August 21, 2024 Good Morning 🌅 This midweek special edition is brought out this week as we could not cover all we wanted to include in the last issue. Nice Day M G Warrier M 134 A Top Central Banker Shaktikanta Das, Governor, RBI RBI Governor Shaktikanta Das ranked top central banker globally for second year in a row https://timesofindia.indiatimes.com/business/india-business/rbi-governor-shaktikanta-das-ranked-top-central-banker-globally-for-second-year-in-a-row/articleshow/112659508.cms Download the TOI app now: https://timesofindia.onelink.me/mjFd/toisupershare B The book on my table : RIP US$ 1971-202X By Shanmuganathan N RIP US$ 1971-202X My instinctive response when I read the first review of this book in the media was that I may not buy this book as its price is high. The impulsive response ended up in my son Kiran sending a copy of the book to me. I tried to explain that I didn't mean it was unaffordable. Anyway, the content packed in 200 plus pages is interesting and useful for my pursuit of gold management as an effective instrument to support India's economic development. My first article "Gold management needs a makeover" was published in The Hindu Business Line more than 12 years ago. Since then, some steps have been initiated to bring improvements in gold management, but a lot more needs to be done. As the focus of this book is US Dollar Vs Gold, the Indian context is conspicuous by its absence. The 25000 plus tons of surface gold stock waiting to be mainstreamed and accounted doesn't even get a mention in the book. The quantity is equal to the total gold reserves with all central banks! https://www.amazon.in/RIP-USD-1971-202X-Forward/dp/B0D6PFJ2C7/ref=monarch_sidesheet C Media Response August 19, 2024 Restore the glitter This refers to your editorial "All That Glitters is...In Great Demand" (Economic Times, August 19). The concluding observation that India has learnt to put into productive use the recycled gold compared to the historical data may be true. But we as a country has been hesitant to touch idle unaccounted domestic surface gold stock for traditional and sentimental reasons. It is quite understandable that governments, both at Centre and in states will have political reasons not to touch idle gold stock. But at some point in time, we have to come out of inhibitions and at least survey and account our valuable assets. Gradually, following Tirupati and Guruvayoor, if the owners of such gold lockers release a portion of such gold stock as deposits with banks, our import bills will get reduced which will have an impact on economic development. M G WARRIER Mumbai D Collage Market Watch https://www.cnbctv18.com/photos/market/jackson-hole-us-fed-jerome-powell-speech-dow-futures-sp-500-19462186.htm

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