In the matter of buying/ hoarding gold there is no difference between the rich and poor. All of them have learnt to distrust the crazy financial system and its whiz kids
In his hey days Morarji Desai provided abundant material to the cartoonists,remember Morarji Cola but he was also responsible for the Gold Control Act which was used by many middle class people to limit the dowry expectations. However it went against our deep cultural norms so we are back in the lead. This need for gold seems to be across the classes and ethnic groups in India.
Of course the poor would want to buy gold too , as they want to buy food , clothing , shelter, icecreams , cars , etc , but they cant . The point was the distrust by the rich of the financial system made by , of ,and for the rich.
In the matter of buying/ hoarding gold there is no difference between the rich and poor. All of them have learnt to distrust the crazy financial system and its whiz kids
ReplyDeleteIn his hey days Morarji Desai provided abundant material to the cartoonists,remember Morarji Cola but he was also responsible for the Gold Control Act which was used by many middle class people to limit the dowry expectations. However it went against our deep cultural norms so we are back in the lead. This need for gold seems to be across the classes and ethnic groups in India.
ReplyDeleteOf course the poor would want to buy gold too , as they want to buy food , clothing , shelter, icecreams , cars , etc , but they cant . The point was the distrust by the rich of the financial system made by , of ,and for the rich.
ReplyDelete