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Found - 6.9 Billion in gold (India)

2

Comments

  • Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    ejmaztec wrote: »
    As I read it in the Irish Times YESTERDAY, I'm already in India with my shovel, so up yours, it's already crated up.:P

    http://www.irishtimes.com/newspaper/breaking/2011/0703/breaking16.html?via=mr

    Bla... :p

    Where you do think I'm posting from during my digging break! :D


  • Posts: 5,079 ✭✭✭ [Deleted User]


    is this the same India with aircraft carriers, a nuclear weapons program, a space program and now billions worth of gold that we are giving aid to?

    WTF


  • Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    Is this the same India with aircraft carriers, a nuclear weapons program, a space program and now billions worth of gold that we are giving aid to?
    Thats the one!

    Realistically, its unlikely that the average person in India will benefit directly from this find.
    The poor will still be poor, medical aid will still be needed and homeless will be still unsheltered.


  • Registered Users, Registered Users 2 Posts: 7,041 ✭✭✭Seachmall


    Biggins wrote: »
    and they still haven't opened up the seventh pure iron vault!

    That's because I'm in there with a chair against the vault door as I fill my pockets.

    If you have access to a helicopter I'll give you E14.52 and an old lolipop to fly it here.
    The poor will still be poor, medical aid will still be needed and homeless will be still unsheltered.
    Because of the bloody caste system, they should spend those billions on opening their minds and educating themselves to how needlessly impoverished the country is.


  • Posts: 5,079 ✭✭✭ [Deleted User]


    Biggins wrote: »
    Realistically, its unlikely that the average person in India will benefit directly from this find.
    The poor will still be poor, medical aid will still be needed and homeless will be still unsheltered.

    sounds like a political problem not a financial one time we copped on

    http://www.reuters.com/article/2011/07/04/us-india-temple-treasure-idUSTRE7631PN20110704
    officials said treasure worth more than $20 billion had been found -- more than India's education budget.

    I wonder how much they spend on nuclear weapons and on the space program? seems like they have their priorities straight huh and we are picking up the tab for it


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  • Registered Users, Registered Users 2 Posts: 5,967 ✭✭✭Pyr0


    Biggins wrote: »
    Here's hoping some of that gold is somehow used, in some way, to take care of the countries many, many poor, homeless and living in shanty towns, etc.

    I dunno, something is telling me this is definitely not gonna happen..

    Sure they're in need of a few more tanks and nukes!


  • Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    sounds like a political problem not a financial one time we copped on
    More like partly a social mentality one I think.


  • Registered Users, Registered Users 2 Posts: 14,650 ✭✭✭✭minidazzler


    Ali Baba was stolen from.


  • Closed Accounts Posts: 5,650 ✭✭✭sensibleken


    cool story brahman!


  • Moderators, Music Moderators Posts: 13,475 Mod ✭✭✭✭iamstop


    They should use it to help back their currency.


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  • Registered Users, Registered Users 2 Posts: 24,369 ✭✭✭✭ejmaztec


    Ali Baba was stolen from.

    Nick Cave.


  • Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    iamstop wrote: »
    They should use it to help back their currency.
    I wonder if we discovered that amount of gold here in Ireland - what would our lot do?


  • Registered Users, Registered Users 2 Posts: 1,466 ✭✭✭Forest Master


    steve06 wrote: »
    Slumdog millionaires...

    "Thanks" fail...


  • Closed Accounts Posts: 11,298 ✭✭✭✭later12


    IT's only worth 7 billion pounds if someone actually buys it, which I don't see happening any time soon.
    Where you been living, Missus?

    http://bullionbargains.us/wp-content/uploads/2011/04/historical-price-of-gold-chart1.png


  • Registered Users, Registered Users 2 Posts: 1,761 ✭✭✭Muckie


    Here's hoping some of that gold is somehow used, in some way, to take care of the countries many, many poor, homeless and living in shanty towns, etc.

    Nice thought, but i can't see the Indian Goverment sharing the wealth with their poor.


  • Closed Accounts Posts: 11,298 ✭✭✭✭later12


    This is roughly 0.35% of Indian GDP.


  • Registered Users, Registered Users 2 Posts: 268 ✭✭Adamisconfused


    It will all go into a vault with the rest of their gold. Thirty three million euro per tonne. They have 614 tonnes already, so if the initial report is true, it looks like they've gotten over 30% of an increase to their reserves by doing sweet bugger all. Nice.
    I've never been a particularly big gold bug, but it goes to show what real money is. I wonder if anyone will be excited when they did up a few old bank vaults full of Euro two hundred and fifty years from now. (Not Irish bank vaults. They'll not understand the concept of I.O.U.)

    Also, the Brits will be so pissed they were hiding that. :D


  • Registered Users, Registered Users 2 Posts: 1,895 ✭✭✭Gandalph


    Dibs on the magic lamp....if they find one, which of course they will


  • Registered Users, Registered Users 2 Posts: 818 ✭✭✭Triangla


    Que the stampede to start excavating every temple in Asia!


  • Registered Users, Registered Users 2 Posts: 28,787 ✭✭✭✭ScumLord


    I hate gold it turns people into fools, all it is is shiny rock it's practically useless beyond being shiny, what the hell is wrong with people? I just don't get the fascination with gold.


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  • Closed Accounts Posts: 5,650 ✭✭✭sensibleken


    ScumLord wrote: »
    I hate gold it turns people into fools, all it is is shiny rock it's practically useless beyond being shiny, what the hell is wrong with people? I just don't get the fascination with gold.

    its a metal. and its used in some electronics as far as i know

    aside from that its ugly crap so im with you.


  • Registered Users, Registered Users 2 Posts: 912 ✭✭✭chakotha


    Its very unreactive so it is eternal, Man.


  • Registered Users, Registered Users 2 Posts: 268 ✭✭Adamisconfused


    ScumLord wrote: »
    I hate gold it turns people into fools, all it is is shiny rock it's practically useless beyond being shiny, what the hell is wrong with people? I just don't get the fascination with gold.

    However, it does have a five thousand year history as money. It's obviously difficult to break that mindset in a few decades. Essentially, gold is similar to paper money in that its entire value is based on faith.


  • Registered Users, Registered Users 2 Posts: 28,787 ✭✭✭✭ScumLord


    chakotha wrote: »
    Its very unreactive so it is eternal, Man.
    It's eternally tarnished by all the children that died mining it. It's not a case your gold may be from horrible sources, it's a case of it's more than likely your gold came from horrible sources that use child labour down in unstable mines.


  • Closed Accounts Posts: 1,996 ✭✭✭latenia


    is this the same India with aircraft carriers, a nuclear weapons program, a space program and now billions worth of gold that we are giving aid to?

    WTF

    I read not long ago that 250 million Indian children go hungry every day. This item was also in the news recently:

    http://www.forbes.com/2008/04/30/home-india-billion-forbeslife-cx_mw_0430realestate.html
    Plans were then drawn up for what will be the world's largest and most expensive home: a 27-story skyscraper in downtown Mumbai with a cost nearing $2 billion

    It's not PC to say so but India and its people are very scummy in many aspects (and yes, I have visited.)


  • Registered Users, Registered Users 2 Posts: 1,900 ✭✭✭General General


    Biggins wrote: »

    The seventh vault that has yet to be opened, is made up of ancient iron walls!


    Don't open it... that's where we Indy, the Doctor, Lara & I trapped the Goa'ulds!!!!


  • Registered Users, Registered Users 2 Posts: 1,583 ✭✭✭ronan45


    I have a gold ring PURE gold i have been wearing it for 15 years doesnt corrode or tarnish still looks exactly the same as the day i bought it. in the meantime i have gone through countless silver plated rings and necklaces you get from argos. so it is worth it :P


  • Registered Users, Registered Users 2 Posts: 6,598 ✭✭✭positron


    I grew up in Kerala, a state in India with this town Thiruvanathapuram (town named after the temple actually) is in.
    LighterGuy wrote: »
    So wheres this money going to go to?
    The indian goverment? and never to be seen again?

    Ooman Chandy, the Chief Minister of the state of Kerala, said yesterday that this is and will remain the property of the temple. It will be up to the Temple administration to do what they please with it, however, I am sure they will have to follow dozens of other laws dealing with preservation of things that is of archeological value etc.

    The state of Kerala is about a third the size of Ireland, and has 10 times as much people - about 40 million. Kerala, back in the days, had three kingdoms. One of them was 'Thiruvithamkoor' or 'Travancore', and the Kings of this kingdom were very pious and humble rulers. They promoted arts and education and spend huge amounts of city planning (back in the days). They didn't spent it all on bling palaces or anything - anyone who has been to their palaces can see that they were really large houses - compared to the super bling palaces of Mysore or further North of India. This wealth that's now being accounted was accumulated over many centuries. They are really their savings for disasters and famine etc - to save the kingdom by buying whatever is required at that stage.
    Biggins wrote:
    ...And how many more temples out there (and not just in India) might have similar.

    This is a very good point. However, the truth is that the temples have been looted by many waves of invaders. The Mugals pillaged and destroyed temples and took everything they could get their dirty paws on. Then the British followed. We all have heard of the Nizams' of Hydrabad and how Kohinoor, the largest jewel, ended up as 'Crown Jewel' in London. The temple and the Kingdom that's being discussed now, by the standard of Kings etc were relatively poor in India. I can only imagine how much wealth was plundered by the Moguls and the British from India between 1400-1900. Sickening really.

    Absurdum wrote:
    Isn't anyone concerned about the monster who wore a 6m necklace? That's a ****in giant so it is.

    That necklace was probably presented to the Deity of the temple, not to a person. The Deity is Vishu, one of the trinity of Hindu gods, lying on coils of the greatest Serpent of all - Ananda - the snake with 1000 heads. That's where Vishu rests, that's his bed. And yeah, Hindu mythology is cool like that. :p


    PS: On other news, Indian Crime Branch and Revenue retrieved 30,000 crore INR (about $6 billion?) of black money last week alone! There's huge sums of money in India, it's just that it's all outside the system!


  • Registered Users, Registered Users 2 Posts: 3,626 ✭✭✭Dancor


    Biggins wrote: »
    I wonder if we discovered that amount of gold here in Ireland - what would our lot do?

    Give it to shell


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  • Registered Users, Registered Users 2 Posts: 2,510 ✭✭✭Ellis Dee


    Many Indian temples do indeed help the poor. People do puja (make a sacrifice) by leaving food or money in front of the idol and much of this is later distributed to the needy.:)

    I doubt whether the wealth will be expropriated by either the Indian or the Keralan governments, as India is governed under the rule of law and private property is respected. Besides, any action like this could lead to years or decades of litigation.

    Kerala, which I warmly recommend as a place to visit, is one of the most highly developed parts of India, although relatively poor. In 1957 it became the first place in the world to elect a Communist government and later became the first state in India to achieve full literacy. It is generally regarded as one of the best governed states in India.

    The current government is a coalition led by the Congress Party. It took power after the Communists were narrowly defeated in elections earlier this year.

    http://www.kerala.gov.in/

    :D


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