How can gold be your friend during financial crises?

How-can-gold-be-your-friend-during-financial-crises-600X410Gold isn’t just a valuable addition to your precious jewellery collection, but can also be a valuable friend in times of financial crises. Here’s how you can count on your gold during emergencies:


  1. Easy liquidityYou can easily convert your gold into cash, up to Rs 10,000 per day. You get the most value for money if your gold is hallmarked. The mark ensures the authenticity, fineness, and purity of the gold. So, you get paid as per the purity of the hallmarked gold.
  2. Loan availabilityYou need not always sell gold to get money. You can easily get a loan against gold holdings, which makes the yellow metal more liquid. By pledging your gold with the lender, you can borrow up to 75% of its value. The lender holds the gold and disburses money, in as less as five minutes . This can make gold a saviour during emergencies. Here is All you need to know about gold loans.
  3. Interest income through Gold Monetisation SchemeThe Gold Monetisation Scheme (GMS) allows you to deposit your gold in any form- jewellery, bars, and coins- at a bank and earn interest. You can deposit as little as 30 grams of gold and earn tax-free interest at regular intervals. This gold will then earn interest based on its quantity and the current price of gold in the market. You can also save on bank locker charges which you may incur if you keep gold in your bank’s savings account.
  4. Returns on fundsYour gold in the electronic form can also be helpful during a money crunch. This is possible through a Gold Exchange-traded Fund (ETF) or a Gold Fund. Gold ETFs are similar to Mutual Funds. They invest in and hold gold on your behalf. But like stocks, they are listed on the stock exchange. So, you can conveniently buy and sell gold ETFs at any time through a broker, thus spending minimal time and effort. This comes handy in times of need when you redeem your ETF and get the cash equivalent of your gold investment.You can also secure a loan against your gold ETF holdings instead of redeeming the investment.
  5. Digital goldYou can now buy or sell gold online safely within minutes through digital wallets. There are many platforms available that allow you to buy, store, and sell gold digitally . Here are Things you should know before buying gold online.

The bottom line

Whether you prefer a physical exchange for cash or a digital process, there are myriad ways to get money using gold. More importantly, these processes barely take time—a factor that is key during emergencies.

The wisdom of Walter Williams: Capitalism vs. Socialism

opinion-editorial-820x567by Walter E. Williams) — … Let’s compare capitalism with socialism by answering the following questions:


It turns out that we seldom find people upset with and in conflict with computer and clothing stores, supermarkets, and hardware stores. We do see people highly dissatisfied with and often in conflict with boards of education, motor vehicles departments, police and city sanitation services.

What are the differences? For one, the motivation for the provision of services of computer and clothing stores, supermarkets, and hardware stores is profit. Also, if you’re dissatisfied with their services, you can instantaneously fire them by taking your business elsewhere. It’s a different matter with public education, motor vehicles departments, police and city sanitation services. They are not motivated by profit at all. Plus, if you’re dissatisfied with their service, it is costly and in many cases even impossible to fire them.

A much larger and totally ignored question has to do with the brutality of socialism:

In the 20th century, the one-party socialist states of the Union of Soviet Socialist Republics, Germany under the National Socialist German Workers’ Party and the People’s Republic of China were responsible for the murder of 118 million citizens, mostly their own. The tallies were: USSR 62 million, Nazi Germany 21 million and PRC 35 million.

No such record of brutality can be found in countries that tend toward free market capitalism.

Here’s an experiment for you:

  • List countries according to whether they are closer to the free market capitalist or to the socialist/communist end of the economic spectrum.
  • Then rank the countries according to per capita gross domestic product.
  • Finally, rank the countries according to Freedom House’s “Freedom in the World” report.

You will find that people who live in countries closer to the free market capitalist end of the economic spectrum not only have far greater wealth than people who live in countries toward the socialistic/communist end but also enjoy far greater human rights protections.

As Dr. Thomas Sowell says, “socialism sounds great. It has always sounded great. And it will probably always continue to sound great. It is only when you go beyond rhetoric, and start looking at hard facts, that socialism turns out to be a big disappointment, if not a disaster.”

Dr. Williams is a nationally syndicated columnist, former chairman of the Economics department at George Mason University, and author of More Liberty Means Less Government.

maduro-firemen-820x475(by Alexandra Ulmer and Shaylim Castro, Reuters) CARACAS – Two Venezuelans firefighters who made a viral video portraying President Nicolas Maduro as a donkey were jailed on Sunday pending trial on charges of inciting hate and could face up to 20 years in prison if convicted, right groups said. Ricardo Prieto, 41, and Carlos Varon, 45, were arrested by military counterintelligence officers on Wednesday at the fire station where they worked in western Merida state, according to the human rights observatory of the University of the Andes in Merida, which is tracking the case. The pair appeared on Sunday before Judge Carlos Marquez, who ordered they be held for trial on charges of violating a law against fomenting hatred that was passed last year [by Maduro’s constitutional assembly], the observatory and the Penal Forum rights group said. “The firemen were indicted with an aggravated charge of inciting hate. That aggravated charge indicates … 20 years of jail time,” said lawyer Ivan Toro of the observatory, who attended the hearing.

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