On Mon, 24 Dec 2007 02:19:24 -0800 (PST), samir236
wrote in
<626fef33-2724-409b-863d-d8a7bcec1f53@b40g2000prf.googlegroups.com>
:
>Hello,
>
>I have got an admission to one of the australian university. My
>agent is advising me to show all the funding in cash/FD/CD and she is
>saying that stocks, bonds, money market and line of credit will not
>count.
>
>Moreover, the CD has to be 3 months old.
>
>What are your recent experiences?
Sorry, but can't offer any recent experience. Christmas day here
in Australia, so don't be disappointed if you don't get many
responses. Tomorrow is also a holiday "Boxing Day".
However, I don't want you to think that the group is ignoring
your request for information. I once spent some time in India.
>
>From my point of view this seems to be very high expectations as
>people will not keep casually 1/4 of crore Rs. in savings and FD.
>They would rather put in better yeilding investments.
For a start, most readers of this group are unlikely to
understand "crore rupees". They can consult, for a start,
Indian Rupee Nomenclature Explained:
lakhs, crore and more.
http://www.ebearing.com/rupees-explained.htm
To quote a bit from the site conversion table, though,
in conventional English decimal notation,
1 crore = 10,000,000 10 million
To give some of the readers of this group who seem a bit, ah,
"slow to understand", or perhaps choose not to, will also provide
a conversion at current mid-rates.
Live rates at 2007.12.25 01:23:04 UTC
10,000,000.00 INR = 254,000.51 USD
India Rupees United States Dollars
1 INR = 0.0254001 USD 1 USD = 39.3700 INR
Live rates at 2007.12.25 01:25:04 UTC
10,000,000.00 INR = 292,025.2578 AUD
India Rupees Australia Dollars
1 INR = 0.0292025 AUD 1 AUD = 34.2436 INR
Info quoted from:
http://www.xe.com/
To try to explain why the department might not be impressed
by potential "high yield" investments, will have to point out
that there is no really "safe" investment.
I don't pretend to be an investment advisor or an economist,
so readers are urged to check my advice.
In my opinion, though, the greater the possible return on an
investment, the greater the risk of loss.
Why do US bonds or treasury notes offer a relatively low
rate of interest? Simply because they don't have to offer
a higher rate. The bonds and treasury notes will be "safe" as
long as the US$ is "safe".
So, basically, the higher rates of interest, or risk investments,
have to promise higher possible capital gain, or no one would
bother to invest in them.
If someone claimed to own the Sydney Harbour Bridge and offered
the reader a possible 20% return on investment, how many readers
would fall for this scam?
Not that "bonds" are necessarily all that "safe" either, of
course. When the "Confederate States" attempt to secede from the
USA in the Civil War, they issued their own currency and bonds.
When they (predictably) lost the attempted war, the "Confederate
Dollar" or "Confederate Bonds" weren't worth the paper they were
printed on.
Anyone want a more recent example? Whether readers do or not,
will offer one. Prior to the 1917 revolution, the Imperial
Russian Government sold a lot of bonds. For decades afterwards,
they had no value, except perhaps as decorative wallpaper.
However, a few years ago the present Government of
Russia decided to honor them.
Is there any "safe" investment? How about gold? Last time I
checked, was worth around US$ 811 an ounce.
Actually, it has very few practical uses, its value depends on
its rarity.
However, just for the hell of it, assume that science &
technology suddenly develops fusion power, which would
mean very cheap electrical power.
Then we could distill sea water to produce fresh water at a very
nominal cost. The residue salts contain many useful and valuable
elements.
Does any reader know the amount of recoverable gold from a cubic
mile of sea water? I don't offhand, but could look it up.
No matter, though, as the price of gold would dramatically drop.
So is their _any_ "safe" income producing investment? Not that I
know of.
However, I have a few business ideas that I think would produce a
reasonable return. If I thought that any reader would be willing
to send me $US 20,000,000 or so, I might give them my email
address. :-)
Anyway, samir236, can you now see why immigration might
have its own requirements?
Admittedly, I do think that "government bonds" should count as
assets, but it might depend on just which government issued the
bonds.
Anyway, thought you deserved a reply today, most of the other
posts on the group don't seem to. At least on Christmas Day :-)
Cheers,
Kangaroo16
Sydney, 1:34 PM, 25 Dec. 2007
[GMT - 11 hrs]
>
>Thanks in advance,
>
>Samir |
