We Indians simply love gossiping. Be it about any topic or with any person, we just love talking about things (even if we don’t know an iota of it). Although, none of us may agree with this but deep inside we know that it’s true. There’s a game called Chinese Whisper that you might have probably played as a child. In this, a group of people form a queue and the first person whispers something in the ear of the next person. The next person then passes on the whisper to the person next in queue and this goes on. Finally, the last person reveals what he/she heard in the whisper.
It usually happens that the whisper gets completely distorted or changed as it reaches the last person. There’s a reason why this happens. We have conditioned brains that believe in limited interpretations. And, more than that, we love adding our own interpretations to what we hear while forwarding it. This in public domain takes the form of ‘Fake News’. One recent incident of such news is ‘Discovery of 3000 Tonnes of Gold in UP!’.
What was the ‘News’?
You would have surely heard “All that glitters is not gold”. Similarly, all that spreads is not news. The media went berserk a few days back and reported a sudden exploration of thousands of tonnes of Gold in Sonbhadra, Uttar Pradesh. “Thousands of tonnes of Gold has been discovered under ‘Son Pahari’ in Sonbhadra, Uttar Pradesh.” Is what the media reports said.
Before people could create gospel Geological Survey of India (GSI) came in front of the public to tell the truth. And you would be shocked to know the difference between what was reported against what was there actually. Imagine someone claiming that he saw a Dinosaur when he actually saw a puppy! That’s what exactly happened in case of gold discovery in UP.
The ‘Golden’ Reality
The revelation by Geological Survey of India showed how distant the common people are from reality. Forget about common people, media reports by renowned media houses were even more astonishing because how could they publish such information without confirming it from relevant authorities?
GSI said in its official press release that it had carried out mining in the said region between the years 1998 and 2000 and that the results were ‘Not That Encouraging’. It also revealed that the mines belonged to average grade and expected extraction of gold from per tonne of ore was just approximately 3.3 grams! So, with that proportion, the total amount of expected gold from the entire ore comes to 160 kgs. Yes, the claim initially was of some 30,00000 kgs whereas it came down to 160 kgs.
What if it was True?
If actually 3000 tonnes of Gold was discovered, India’s economy would have faced a drastic turnaround. The value of that Gold might have been even more than the valuation of the biggest company in India terms of market cap – Reliance India Limited. India would have reinstated its lost status of ‘Sone Ki Chidiya’ (Golden bird).
Now, this is when reality strikes! It’s quite pleasant to imagine that things would have changed so positively if it was true. But, reality is what we all have to live with and it’s mostly harsh. More importantly, when we blindly believe in something that was never there but we believed in it just to feel better, it always ends in demotivation. So, stay informed and live your life accordingly.
Hope you liked this information. Comment below with your opinions/suggestions. Should you wish to stay updated and would like to receive relevant financial news and analysis straight in your inbox, subscribe Smart Mornings.