A Wedding Ring, Once Worn on the Finger, Does Not Return to the Goldsmith

 

Adeladius Makwega – MBAGALA

“How can you sell a wedding ring while you are still in a marriage? A wedding ring cannot be removed from the finger unless there is an agreement between the spouses—such as divorce or death. You don’t just rush off to a goldsmith saying, ‘Hey, I’m selling my wedding ring.’

If you go to a goldsmith—since they sell and buy gold—they will weigh it and then give you money, but at a low price.

It may be that you sell your wedding ring because your economic situation is bad; that may be understandable. But in married life, how many times will the economic situation become bad?

So when the economy is bad, does that mean the solution is to sell the wedding ring? When things become difficult, does that mean your marriage has been mortgaged? You must struggle against the situation, look for other sources, and ask yourself why things have reached that point.”

These words were being spoken by men drinking tea at a café in front of Mwanakwetu.

Mwanakwetu himself then entered the café where these men were. 

 

Here, a big and serious discussion was taking place:

“You know, listen to this: the United States holds the record for the largest official gold reserves in the world by a wide margin, with 8,133.5 tons stored mainly in places like Fort Knox and the New York Federal Reserve. This amount represents about 17% of the total gold in the world and has remained so for a long time, meaning it has not changed for decades. Germany, Italy, France, Russia, and China follow, each with more than 2,000 tons. You see, gold continues to be a key safe-reserve asset in central bank reserves.”

Remember, my reader, Mwanakwetu was also at the café; he ordered tea and one chapati. The attendant went to get them and served him as he continued drinking his light-colored tea.

These men he had found there continued with their conversation:

“Gold is not meant to be used to buy things in shops. It is a reserve asset, like emergency savings for hard times. Central banks hold reserves so they can protect their currencies, pay for imports during emergencies, or reassure lenders. Most reserves are in foreign currencies and government bonds, but those depend on promises from other countries. Gold is one of the few assets without a counterparty risk (it cannot default) and it tends to preserve its value during crises, thus helping to diversify risk in reserves.

It is also easy to sell and transport. A country’s central bank can sell gold, use it as collateral, or engage in gold swaps to quickly obtain foreign currency. Because its production increases slowly and it is trusted worldwide, holding it sends a message of stability to markets and citizens. Much of today’s large gold reserves are historical remnants from times when money was tied to gold. Once a country has it, there is little reason to use it all at once, and some countries even increase their reserves to protect themselves against sanctions, political risks, and disaster-related challenges.”

These men, who appeared to be intellectuals, stood up and left.

Mwanakwetu remained alone at the café, drank his tea, and when he finished, he returned the way he had come. That is when he decided to write this article exactly as you are reading it, my reader.

 

What is Mwanakwetu saying today?

Mwanakwetu realized that when those men were talking abou

t selling a wedding ring, they were actually comparing it to the issue of selling gold reserves.

For the benefit of Mwanakwetu’s reader, let me say this:

“Mwanakwetu studied for a Master of Business Administration (MBA) nearly 18 years ago, by the year 2026, and some of the professors who taught him were Professor Mwafwenga (deceased) and Professor Ngowi (deceased). Among these two scholars, the one who taught me very well and with great expertise was the late Professor Honest Ngowi, and he awarded marks fairly.”

Now, my reader, please understand Mwanakwetu on the point he is making, just as Professor Ngowi taught:

“When a country sells its gold reserves, it usually converts a long-term, stable asset into quick cash—especially foreign currency—in order to deal with financial pressure, finance infrastructure, strengthen the currency, or complete projects that require large amounts of money.

This action can also signal financial problems for the country concerned, a reduction in aid, or that the gold is being sold because global gold prices have risen significantly so that profit can be taken.”

In this matter, several arguments can be raised when a country sells its gold reserves. One argument that is often raised—but is not true—is that gold prices have risen. This argument is not true because gold prices do not rise sharply over the years; they rise gradually. That is why this mineral is held in the reserves of many countries—remember that about 17% of all the world’s gold reserves belong to the United States, which is a country with a strong economy.

“…when a country sells its gold reserves, it usually converts a long-term, stable asset into quick cash (foreign currency) to deal with financial pressure, finance infrastructure, strengthen the currency, or complete projects.

This action can also signal financial and economic problems…”

These are the things I decided to say in this article today, in honor of my mwalimu wangu, Professor Ngowi, who now rests in the grave. A wedding ring is a symbol of marriage; it is a guarantee of marriage, the stability of marriage. You cannot take it to the market, because once a wedding ring is worn on the finger, it does not return to the goldsmith.

 

Mwanakwetu, are you there?

What should this article be called? A Student of Professor Ngowi or A Wedding Ring, Once on the Finger, Does Not Return to the Goldsmith? I like both titles. You, my reader, choose one—but remember: A Wedding Ring, Once Worn on the Finger, Does Not Return to the Goldsmith.

I wish you a good day.

makwadeladius@gmail.com
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