Gold - the hidden truth behind the gilt
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Which is worth more? A house in London or a bar of gold? Answer – they are worth the same. A gold bar will buy you a house. Lots of business people and money men want us to all “move” into gold, buy it, invest in it, and speculate in it. Drive up its price. Why? Simple, they want to make lots of money out of gold. When Hotels in the Middle East start putting ATMs that dispense gold from them in their lobbies, it's time to get serious. The higher its price goes up, the more profit they make when they sell it afterwards. If ever. Because gold is a good investment. In times of war, gold always escalates in value.
They say “Gold doesn’t owe any money”. Somewhere between 15% to 20% of the world’s supply comes from modern supplies. The gold is sent to a gold processor and melted down and purified and turned into gold bars, and gold bullion. Gold Trading Houses pay a big contribution towards setting the price of the gold, although people pay whatever the market thinks it is worth. Africa is one of the world’s biggest sources. Gold is mined in some parts of Africa cheaply. Some people are digging for gold with their bare hands. Does that shock you? Gold also has not made them rich? Does that also shock you? One gram of gold only gets them a tiny fraction of what an actual gram of gold is truly worth. A typical African will make $60 a month if he or she is lucky. 15 grams is average in similar period. The middleman who gives out licences to mine gets the lion’s share of money.
Congo is where the action is. But there is a problem with gold. Just like diamonds, Gold is sometimes classified as conflict gold, and has a stigma of war and genocide and brutal dictatorships attached to it, so many people either don’t trade in it or else want it at a different price. So $1.24 Billion of gold is smuggled out of Africa every year. It is a massive business, raking in huge profits. Militia men control the gold trade. So where there is militia, there is war. So war is usually linked to African gold. An African General earns about $95 a month as salary, yet typically the same general will live in a plush mansion and drive an expensive western car. Thanks to gold. While the youngest African person that mines gold is a typical child of 7 years of age.
Who buys the gold? Mostly the UK, the EU and the USA. It can come from any gold producing country. But mostly Congolese gold. No one wants to use normal Trading Houses that trade in gold due to stiff Government Taxes imposed, so gold is pushed underground, and the true nature of its sale and route to other countries is conveniently shrouded in secrecy. Gold is an invisible fountain of wealth. Gold mining stocks soar. People are always making far more from it than they are willing to admit. Including places like Uganda. Uganda cites Gold as its third largest export. Except one thing. Uganda doesn’t have any gold in it. None. No a spec. All the gold is transported through neighbouring Congo, via Kampala. Dirty gold. Illicit gold. Gold by any means. So what did the rest of the world do about it?
It did some things. Things that accomplish little or nothing. The UN tried putting sanctions against those who are illicit exporters, but this just forced the sale of gold underground. It also ends up in places like The United Arab Emirates and other parts of the Middle East. The UN sanctions might almost be helping the illicit trade, rather than slowing it down. Gold Stocks have driven up other related markets - the financial markets, the insurance markets. (People have to insure the gold coins they buy!) You will hear many say that gold is good for everyone. There’s a huge market for gold now. The Gold price has risen phenomenally in recent months. Gold has more than doubled in price! And some countries prefer not to know where their gold has come from, just as long as there is always gold. And they don't seem to highlight how a lot of gold gets from out of the earth to being on the gold market. Which is a pity.
No one is suggesting we all stop mining for gold. Any more than I am suggesting that Gold might be responsible for subsidizing Wars in some parts of the world. No one wants a world where the gold is the reason for conflict in the first place. But we need to be careful about how the world comes to get its gold. It needs to be proper, legal, regulated. If it is worth that much, and if it will stop people being badly exploited, and stuck in poverty and if it prevents dictatorships flourishing, it might be worth it. Surely that would give gold its true inherent value. That way, people can have their "clean" gold. Beautiful gorgeous expensive gold.
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1995 Matthew Letscher, Thomas Calabro, Tracey Gold (Stolen Innocence) w/credits
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1995 Press Photo Tracey Gold Stolen Innocence Promo
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To myownworld:
I have to say thanks for this. I know some people would rather just concentrate on the buy, but, buy syndrome that seems to be everywhere today. But there is a whole other side to gold and no one or at least very few people seem willing to talk about it. I remember the history of South America and Spain and how it got its gold from the native people there. I am just trying to show the less well known story behind where some of the world's gold comes from. I appreciate your telling me that. It's a nice custom to give gold coins as a wedding gift! : )
Nice subject right now with the current value of the dollar.
I am stuck with pounds sterling myself! I do my best! Thanks Truth From Truth!
Aaahh, there you are, my Captain! Thanks for dedicating your first hub to me! That was really sweet of you! So - you like the ol' Davvy Jones Locker booty. Yes, THAT booty! LOL! My tongue is how the artist drew me! And yes you have a corrupt mind, but that's ok, I go for the more naughtier man! I can handle that! LOL! Actually one of my other hubs has a portrait of me, the artist did a far better job. *thinks what the hell the name of the hub is* Anyway, it's one of them! I got your message re the forums. Shrug it off! In a few weeks you will be back to your usual! You have too many fans around here. You remind me of that western where the town's best sherrif hero is told to git. Don't go. I am serious, if it was me and I was in your big boots, Iwould carry on! Plus you would have more time to send me (and everyone else) your amazing wonderful funny and switched on humour and anecdotes! And more! I know you're thinking of packing.
Addendum - the portrait is top of the hub on Osteopathy!
Great hub. Your right people should pay more attention if it really is that valuable. Rock on cheeky!
great hub, sure I love gold, and I love the way you talked about it, proper legal and regulated it should be, thanks Cheeky, Maita
Hi cheeky girl,
You forgot to mention India among the world biggest consumer of gold with over 800 tonnes of gold is being brought every year and probably the biggest market of gold in world.
Amazing, gold is the damn evil of the world and we all need to wake up now
Great hub! I didn't know all this about gold.
HealthTip: Tis a joy to be seein' your words in my hub here! Seriously, this is great! I am very happy you are staying! We would miss you too! Especially me! : )
Warren: it may just prove to be! Thanks for the comments!
Prettydarkhorse: You never said a truer word. We all like the stuff, but I like to have a clear conscience about where it came from. Many thanks, Maita! : )
Sweetie1: Yes, India is a big consumer of Gold, thanks for mentioning that! Gold seems to have that affect on people!
Launcher: Here here!, habee: uh yes, there you go! It's all true, and this is just the tip of the iceberg...I really appreciate the comments here. Obviously people have strong views on gold!
Well I am like the new Healthtip being that I am he, so hotstuff any requests of any chicks you would like to see tattoos of, only to happy to write for ya ; )
But why this price is coming down for the past fortnight and what level this will come down?
TattoGuy: h'mm, a wonderful idea my good friend! Tats, they have a certain thing alright, especially depending on where they are placed. The more strategic, the more attention they get! I have been meaning to get one, but you'll never guess where! *Heh!* Does Jolene Blalock have any tattoos? LOL! Shakira! She is so hot! I bet she has one hidden somewhere on her sexy bod! Surprise me, I love surprises! It's great to have you back! ; )
Trsmd: What level indeed? Has someone offloaded any Gold out there? Let us know!
Wow cheeky girl that was intense, I've heard rumors of such things, but not details like those. I prefer silver and platinum anyway! Strange to think of possibly having that kind of money to invest, makes me wonder if I would be tempted!
Hy Ben: I like the things that make me look pretty, it's all well and good, but I have a conscience too. I just had to air this Hub and let people know the other side to the whole "Gold" story. And I am sure there's even more to it than what I say here.
Habee: If I forgot to include you there, sorry about that! I appreciate your comment! My mistake! Love your new picture!
The rise invalue of gold has more to do with the lack of confidence in the dollar and it`s declining value. With debt rising out of control there is a real risk of economic collapse and a chance that money will be worth nothing! Gold is supposed to be a hedge against that, but will there really be a demand for gold under that scenario? I think not!
There is a whole other side to "Gold" and all that it involves. You are right, the dollar value at present makes gold seem more worthy of having. Gold is also a conflict currency, associated with war and apathy.
Very informative article. You touched on things many don't want to know about. Thanks for doing such a great job with this.
Hello Lamme: Glad you liked it. Yes, it is not what some people want to hear about how some Gold gets to us from its origin. Namely a broken war torn country filled with strife, corruption and poverty. Appreciate the comments!
Hey, great hub. Diamonds are still leaking their way into public consciousness,in fact I was just talking a a friend about the hub I was writing and she asked "What are blood diamonds?" I was shocked!! Gold, well a lot of people still don't know the ramifications. They are still reeling from hearing about their precious diamonds. Cheeky Girl, I wish we lived in a better place, all this violence and greed just seems so shocking to me sometimes, the other times I just sort of expect it. Glad you put this together. Rated up!
Hy Summer: Thank you for this, moi friend. yes I am well aware of the story behind blood diamonds and the illicit trade of diamonds and gold and other precious metals. It's a subject we never hear enough about, yet it happens all the time. Yet another story ignored by the mainstream media. And I know you have covered this in your hubs! Well done! There's a bit of a blood diamond story brimming around Naomi Campbell at the moment. I am not sure how true it is, but it makes for interesting reading. Yes, I would like to skip to another part of the solar system myself some times! Shall I order the taxi? Heh! Thanks for the rating, Summer. You're a pal! : )
Fantastic hub hun reminds me of the movie "blood diamond"
it is a shame that Africa doesn't benefit much from the gold it has. By the way if you got some can you slip 'em by my mail box? I could use a bit of gold to go on a shopping spree! lol
Hello moi friend! Nice to see you here! "Blood Diamond" the movie? Oh, that was a good film. I love Leo in that film, he was good. And it was an unusual film for him which worked for me. Probably cos he's so hunky, but anyhoo...
Yes, Africa hardly benefits at all from the vast gold reserves on that continent. If only they all organized themselves like the EU, and set up a system and stuck to it, they'd be on the road to being another superpower, but they are so divided and dissipated...
Alas, I am not enamored by the lure of this gorgeous and seductive thing...oh sorry I was looking at Cosmo magazine there! Heh! Shop away, Mamelody! (I swear, one of these days I will call you Marmalade by accident!) : )
..the hidden truth behind gold is obvious - your hubs are golden and to me they are worth more than gold because there is a living breathing beautiful person behind them doing all of this hard work and making life a wonderful for the rest of us here - so I rate this - hubtremendous and of course - hubdelicious!!!!!
Hello Colin, thanks for the comments here. I have mixed views on Gold. It's sure pretty to look at and to have. I just worry where some of it comes from. I appreciate the nice words, Colin! You're a brick! Yes, writing hubs is such hard work. Heh! I am kidding of course! thanks for rating my hub, Colin. Cheers! :D
Cheeky Girl you are way ahead of your time here talking about gold. Again the currency of the future perhaps, don't you think?!
Hy acaetnna! Um, way ahead of my time. I'm not so sure. If I'd said bet against gold, I'd have lost 12 months ago, as anyone who's taken money out of property has put their spare money into gold now, and gold has shot up in value. But for how long?
Gold does increase over time, we know that. But I wrote the hub from the ethical morality view that it is mined with such cheap or slave labour and in awful conditions in some places. Some gold could be called "conflict gold" just like there are conflict diamonds. As for currency of the future. I doubt it. as we'd all hoard it and not spend it, perhaps! Well it is gold! Who knows what people might do? LOL! Thanks for the comments, my friend! :)
Cheeky - thanks for the recent kind words. I'm doing well.... going through "many" lifes challenges At The Moment, but I'm on the right side of the grass so I do my best to get out of the right side of the bed as well. LOL
Gold is an interesting topic. Gold has been loved for many centuries.... mainly because the vibrations it has are in harmony with mankind. That fact has been somewhat lost as many mystical facts have been.
The sad fact of life is no matter what is mined, there is corruption. There is corruption in business, Government, war and every where else..... but there is also beauty in the souls we meet on this journey through life. You my friend are not only a beautiful soul - but you are one that radiates it out in a powerful way. When I read your words, I am in tune and feel your vibes... and I like what I feel.... so again thanks for the comment - it was GREAT timing - gave me a nice lift and put a new smile on my face.
Hope you are doing well too!
Big Hug!
Hello Neil: I am happy to hear you are doing okay. The right side of the grass is good, as long as it doesn't grow too tall! LOL! Um, well getting out of bed is paramount, and looking after yourself too.
On what you say about gold, I was reading a Dan Brown book recently, and there was the curious mention of gold which piqued my interest, and reminded me what an amazing interest there is in it. Gold almost has a personality of its own. And yes, the things people do for gold...oooh boy! It can bring out the worst as well as the best in people.
You make a balanced point as usual, yes, there are good people out there too, Neil. Aw, thank you for the lovely comment. You are very in tune today! Heh! That is very sweet of you, Mr Sperling sir! LOL! you get a hug for this! *Hugs ya*
Please look after yourself. You are a good guy, Neil! And yes, I am well, and things here are okay, both in work and at home.
Best wishes from me to you! :)
xx
XOXOXO ;-)
Heh! Cute! XOXOXO
Hey CG, again amazingly written on a topic which has been a disturbing factor especially for people belonging to the Asian countries..I have known families who have delayed weddings speculating the price of Gold to trim down, as huge chunks of the ‘glittering metal’ is exchanged at weddings..Thinking about it, I could never get married for the current gold prices.. LOL..it’s great to read your posts which are always so interesting..Cheers..
Hey @MagicBoy, thanks for these comments on the gold and truth behind the gilt. Yes the exchange of gold is at an all-time high everywhere! I'm not just talking about bullion, it's gold prices that have escalated since people have taken speculative money out of things like property. Putting off weddings due to high gold prices, wow - that is sad.
You could not get married for the current gold prices? Hehehe! A guy like you? Naaah! What woman could possibly turn you down? LOL! I think women these days are looking for real men and commitment. The true gold is what lies within. Your comments are always interesting! Cheers, my friend! XX
Atm's in the middle east dispense gold? I know where I will use the that gift Visa car I got for christmas. Is it in Dubai?
Hy Augustine! Dubai and UAE and Saudi Arabia are all going to be getting this I think! It's a sign of pure wealth alright! LOL! I love the Visa Car thing!
Gold is what its all about! Yeah, the Gold dispensing ATM is in a hotel in Dubai and In think they are installing them in other places. :)
myownworld 2 years ago
A very unique topic...and I loved the angle you gave it in that last paragraph! In Indian/pakistani culture, it's very common to receive gold coins as wedding gifts, so I was really interested in this. Great hub!