Wait what?
===
Gold is a big deal in Vietnam. The average Vietnamese spends more of each unit of income on gold than anyone else on Earth. Total gold buying amounted to 3.1% of GDP last year. (By comparison, private gold purchases amounted to 2.5% of India's GDP, while China's were a mere 0.4%.)
All told, an estimated 500 tonnes of gold - over $24 billion worth - is hoarded away in Vietnam ..you can put gold in a bank and earn interest. People quote house prices in gold, and pay for them with tael gold bars - each bar weighing approximately 1.2 troy ounces.
http://dailyreckoning.com/gold-greshams-law-the-dong/
===
z
No comments:
Post a Comment