Discuss

West discusses THEIR problems to solve them. They discuss OUR problems to show that we have failed.

for that you have to learn from the mistakes of the West.

There is no point in following the West and saying that we can do better ?

you cant cos they spent their lifetimes correcting themselves and still couldnt do it.

so you have a choice either to follow them and then face their own mistakes or choose the path which truly helps you.

@NNL
you cant cos they spent their lifetimes correcting themselves and still couldnt do it.
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Agreed. We should not commit ourselves to a life of 'trial and error'.
Why not! We are and will follow what has been clearly laid out for us to follow.

Don't feel ashamed for even going to China to get and achieve what you lack.
Don't feel ashamed to get help from Korea or Japan to improve your standard of living.

@Adnak
Have patience my dear. We live in a world full of deceptions, and disinformation.
Getting rid of remnants of the colonial past when our history, faith and beliefs, our culture all was systematically trimmed towards colonial slavery, it takes time. We are struggling since the birth of Pakistan against the same 'colonial residue' that are among us in the form of feudals, beurocrats, and industrialists still on a colonial leash.

linkwheel

I was lucky that my position in gold sell at 1200 on 2nd Dec gave me good profit at 1160 on 4th Dec, after tense moments.

I see silver range bound for some time to come. But never trust any one in such trades.

Next bubble is coming to Gold.

- I saw the first bubble in my life during the dot com boom. It was based on a false assumption that whole world economy will be shifted to the Internet.
--- People forgot that Internet cannot manufacture cars & cranes and daily provisions could come out of the laptops.

- Next bubble came in the oil trading with the assumption that the world economies are expanding so fast that the oil demand would out pace the oil production.
--- People forgot that significant parts of world economies are sometimes built on a bubble itself.

- The latest bubble came in the housing market with an assumption that everyone in the developed world can own a house with derived money.
--- Everyone forgot that the price of a house is a function of income and majority of income comes from the salaries earned through jobs. If income and jobs do not go up, price appreciation cannot be sustained.

- And the next bubble is comming to Gold with the assumption that the death of the Dollar is near.
--- We are forgetting that price of gold is directly related to the ornamental value of jewelry and not in the wheels of an investment vehicle. Soon it may reach at $2500 per ounce (75K Rupees per Tola). But way before that it would have gone out of the reach of the millions of middle class Indian and Orientals. So the price of this commodity is bound to collapse.

Modern economies are built on the TRUST among the financial institutions and NOT on the bartering of commodities. As the famous saying goes that "“In the Federal Reserve Bank (of U.S.) We Trust” and not “In God We Trust” is the real motto of U.S. green back". Man realized long time ago that the wealth is a transient animal. The fastest/fattest among these transients lives on the differentiation (dy/dx) of economic variables and not in the variables themselves.

The transients of money create economic bubbles because Man is a forgetful animal. (Man - Insaan in Arabic, is a derivative of root word Nasiaan, meaning forgetting. So man is really forgetful [Mirza Jee correct me]) – Azizi is no eco no mist

Assalam-o-Alaikum-Warahmat-ULLAH ALL,

@javedsheikh: Are you aware that Pakistan govt. has ALREADY sold this mine or its mining rights to a French company ?

I was told this by a colleague. Either they sold it dirt cheap or they sold mining rights for this gold mine to that French company.

This selling off of a natural asset of Pakistan is illegal. In Islam, there is a law which does not allow natural assets of a Muslim nation to be sold. Not to any citizen, not to any company, certainly not to a foreign company.