Bullion crazy = financial problems?

housewives??

 

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From a VERY part time employee at a coin shop, I see that the Indian population is very fond of gold bullion and they seem to be doing fine, but that is just my observation.

 

yes, I'm certainly jealous of the wealth of the average Indian.

 

LOL Me too!

 

Hmm, "average" does not mean much. But India has a population of more than a billion, and if "only" one percent of them are affluent enough to buy lots of gold, that would still be 12 to 15 million people. According to a Macquarie Group study (2011), private Indian households own about 18,000 tons of gold ...

Christian

 

I would echo Christian. What so many people do not realize is there are tremendous amounts of middle class in most countries nowadays. I will bet you money my mother inlaw in Thailand owns more gold than 95 percent of people here let alone the general population.

 

God Bless her Chris.......Is she married? :devil:

 

Lol. My wife wishes she wasn't married to her step father, but as far as I know he is still kicking. Heck, he owns even more gold. His "go to temple" necklace is 12 baht in weight, 6 ounces just by itself.

 

I live in an expensive suburb of Boston. A lot of the people moving in here & buying $1.5 mil. McMansions are either Chinese, or Indian. The guy catty-corner across from me, who bought a McMansion, wears a Turban, & I'm pretty sure is Indian (?)--I didn't ask directly b/c I don't like to pry. Friendly guy, drives a new Mercedes.

At any rate, I think the point that affluent Indians, & I'd add Chinese, are reportedly very into gold, is a good one.....& at least the ones I see in the USA, very into primo-location real estate as well--hard to argue with either......

 

Well, maybe, but from my experience, our friends from Aisa are also into things like US Mid-Cap Growth funds etc., etc. Hard to tell from the car they drive though.

 

It's far more likely that your neighbors have net worth levels in excess of $100mm, and their gold/real estate assets still make up less than 25% of their portfolios.

 

Yup, most likley didn't get rich by following the stacker philosophy of "ALL-IN"