A fascinating debate [quote from the Washington Post article on the subject] is currently taking place in India on monetizing the vast gold holdings
of Hindu temples:
“Wealthy Hindu
temples such as this one are repositories for much of the $1 trillion worth of
privately held gold in India — about 22,000 tons, according to an estimate from
the World Gold Council. In 2011, one temple in south India was found to have
more than $22 billion in gold hidden away in locked rooms rumored to be filled
with snakes. Another has enough gold to rival the riches stashed at the
Vatican, experts say.
But little of it is
contributing to the Indian economy, and now Prime Minister Narendra Modi’s
government is looking to monetize India’s vast hidden wealth. In coming weeks,
the government plans to begin a program that will allow temples to deposit
their gold into banks to earn interest and circulate in the economy, rather
than sit idle in musty vaults. The gold, officials say, would be melted down
and sold to jewelers.”