It is good to know. But speaking about the price rise alone shows that you are aged. Nothing else. In 1920s my grandfather used to buy one sovereign out of the allowances he got apart from salary from L G asafoetida for 15 days work in Tanjore trichy districts. That allowance was Rs 8/- One sov was Rs8. we had 1000 acres of land in eragaram swamimalai where he used to watch the agri operation and earned extra in the spare time; wearing a dhoti and thundu with thick tuft , walking all over; visiting madras when I was a kid later when he gave me the coin one by one for scoring ranks and marks in RKM. Then he told me how gold was so cheap and then cost so high. That is how Mr Giri also says now. But what was the salary then ? My ththa was paid Rs 25 pm; and he used to say he had no expense at all; he had all from the field and garden. His dress is 2 piece; his wife 8 sarees 16 yards per annum that too from ordered in Tari. Yes income increased and expenses too along with struggle even if you had money but had water from the tap and milk in glass bottles. I earned more than what he did; but had a struggle with anxiety in service and life though living with all pomp when price was sky high i said then. But today the value of my gold runs in lakhs and I earn more pension than my salary. IN SHORT, EVERY INCREASE IS SUPPORTED BY INCREASE IN INCOME AND STRUGGLES TO ACHIEVE WAS TOUGHER; AND HAD YOU CONVERTED THE INCOME PARALLEL TO SOVEREIGN FROM THEN TILL DATE, MORE OR LESS YOUR INCOME IN TERM OF RUPEES MULTIPLIED, BUT IN TERM OF SOVEREIGN IS ALMOST THE SAME STAGNATING. You increased the price of gold and in turn the cost by bad consumption unlike my grandparents who did not know what to do with the money and their relations even stole their money. On the contrary I find, my timers means all of you, who left for the USA then had home and garden in an acreage with bountiful facilities; and who left as my son bought residences in 5000 to 10000 sq ft with huge backyard homes in several states earning rent today. And those who are entering now find it difficult to pay rent and so returning back to India to do farming has saved a lot not only by 401K but by shares sold. Maybe the USA might soon become like India. Till the dollar rules high but the Euro is also standardised. China may overtake while islamic countries may go down; China's economy is uncertain though flashing circular lights rind roads in the 100s and magic bridges laid down all over China. Thus USA may talk about price rise but in India it is different K Rajaram IRS 61024 LESSON : DO NOT MULTIPLY DOLLAR BY INDIAN CONVERSION.
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