As per the age-old Customs and Central Excise Rules 1967, a person is allowed to carry only Rs 20,000 worth of gold.
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When not only gold but all commodities are available for the redemption of the paper currency, its volume is limited only by the value of all the wealth of the country, and it can never become insecure up to this limit.
There is never enough gold to redeem all the currency in circulation.
It is important to realize that gold and silver are international commodities and that, therefore, when not prohibited by government decree, foreign coins are perfectly capable of serving as standard moneys.
Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods.
Civilized countries generally adopt gold or silver or both as money.
When goods are exchanged between countries, they must be paid for by commodities or gold. They cannot be paid for by the notes, certificates, and checks of the purchaser's country, since these are of value only in the country of issue.
Fifty years ago wealth was stored and transmitted physically through gold bars, stock certificates, bank notes, and coins.
I never think in terms of gold, currency, diamonds. I'm not clever enough for that.
All the gold which is under or upon the earth is not enough to give in exchange for virtue.
Gold is a great thing to sew into your garments if you're a Jewish family in Vienna in 1939, but I think civilized people don't buy gold, they invest in productive businesses.
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