green gold
green gold
HI everyone, I'm a jewelry designer from the Philippines and I've actualy been around for a bit but haven't had the gumption to post anything much as you all seem to know much more and as i read on, my questions are actualy answered by previous threads/posts. I am awed by the exchanges here and the expertise of the members and i am quite the shy one in such awesome company, hence my hesitation to post. My name is Anastacia, I'm a stay-at-home, hands-on mom to 3 awesome kids and my gem of choice is and always shall be, the golden south sea pearl. My mother has been an avid collector since i was a little girl and is actually considered a vip client of Jewelmer and so she has passed on the love of pearls to me, God Bless her! Anyway, I used to work as director for a foundation here which was under the umbrella of a pawnshop group-talk about irony! My main projects were SME's in the fringes of Manila, giving them reasonable uncollateralized loans as well as scholarships in the tertiary to the university levels all around the country-side. This pawnshop group has 2000 or so retail outlets and is still growing.
Clientelle of the pawnshop chain comprises the poorest of the poor you can ever imagine. Interest rates are bannered at 5% PER MONTH!!!but if you miss an interest payment during the 4 month contract, you are charged an additional 3% which totals to 8% per month. Items more likely end up reposessed (LOTS OF WEDDING RINGS, OUCH!!) and the gold sold at auction in kilos and several lots of USD$ 21,000 each ( i forget how heavy each lot is).
This business exists because there is HORRIBLE and prevalent systemic/endemic poverty in the 3rd world. It is heart-breaking to see mothers carrying their babies, pawn and beg in tears for a higher appraisal or to have their loans extended. They are sick and poor people who have to pay for medicines for ailing family members or dying family members. It's simply gut-wrenching! I therefore no longer work for this group or in this industry. It is called the "blood money" industry. I guess that all scrap gold in the 3rd world comes from this chain of suffering. Most of the bidders and buyers for this scrap gold are jewellers and wholesalers.
It certainly poses a great moral dilemma for me as a designer because scrap gold is of good value and quality and yet it is tainted by usuriousness and suffering. I can't help but reflect on which is worse, dirty gold or "blood-gold". I certainly never knew the extent of dirty-gold mining on the environment and i do not approve of it. So i guess I' d like to hear your opinion and also share this insight with you all. My husband is Danish and he is amazed(in a bad way) with the whole concept of the industry, it's simply unbelievable. I'm wondering if there is a source of scrap gold that isn't morally controversial since dirty gold is simply unacceptable either. I tend to ramble on, but anyway, my personal metal of choice is 925 silver, plain and simple. Looking good doesn't have to cost an arm and a leg. Good day to you all!