22-11-2017, 09:12 AM
The human being has the inherent aspiration of acquiring and possessing gold and silver. This esteem for gold and silver gives the impression of being as deep as any of our most basic impulses. Throughout history, this awareness of the value of gold has bases in society and cultures to maintain the gold standard. Unfortunately, Kings, Rulers and Politicians, on numerous occasions, have abandoned the gold standard and forced or cheated their citizens in an artificial monetary system. Their systems have never lasted because the Eternal laws are breaking. There has never been in the history of the world, a single nation, which left the gold standard that did not end with an economic collapse. The State of the United States is currently breaking a record for the longest period of time a nation has endured after breaking the gold standard. Our system will be blocked; it's just a matter of "when". Gold loans can be used in cooperative banks, public sector banks, private sector banks and other private lenders. Some banks, however, offer it only in certain regions, the only disadvantage. While private lenders process the loan in less than a couple of hours, some cooperative banks and the public sector may take up to a day to issue the loan. In any case, the time is much less than the three minimum days of processing for a personal loan. Loan to value or the maximum ratio of the size of a loan to the value of the asset, for a loan of gold is on a par with that of a personal loan. By the end of 2007, the RBI had issued a notice allowing the repayment of the widows (a lump sum payment of the principal at maturity) of the gold loans. Subject to the apex bank's specific guidelines, each bank can set its gold rate, reflecting the market price at that time. Care should be taken if you have stopped paying a loan previously, either personally or otherwise. Your gold may not be returned at the end of the loan tenure if you approach the same branch. Approaching another branch or bank in this case would be a solution, since they have no record of your default history.