This is undoubtedly one of the finest books on the current financial crisis. It is also revolutionary. Many of the established theories no longer work. Mathematical models also do not work. What will work is the application of sound common sense and basic human psychology. This book is a trendsetter in this respect.
This is the only book that provides comprehensive step by step solution for every problem that every country from USA to UK to Europe is facing. The Chapter Indexwill guide you for the details. Many of the suggested actions do not involve additional spending but merely change of policy. Once you read this book in entirety, it will be realized that spending of trillions of dollars was a folly.
We therefore request knowledgeable finance professionals, economists, journalists, analysts and professors/Consultants specializing in finance, economics and managements to read our book and critically evaluate it subject by subject. Their comments and evaluation will be highly appreciated.
Review Content & One Line Summary
Hindu Business Line
Dy. Editor – Mr. D. Murali
India’s second largest English daily with circulation of 1.27 Millions
India buys 800 tons of gold every year (33 per cent of fresh production) whereas ‘the dumb central bankers around the world have been selling this precious metal for over two decades,’ says Anil Selarka in Sub Prime Resolved ( www.anilselarka.com ). He computes the cumulative gold held by Indian households at over 20,000 tons, valued at $611 billions, or nearly 8 years of global annual gold production.
His suggestion is that the US should deploy 0.5 per cent of its overall tax collections of $3 trillion to buy gold on a continuous basis.
“The spending of, say, $20 billion at from $600 per ounce downward may fetch 1,100 tons of gold per year. In 10 years, whatever gold was lost in last 40 years since Nixon era will return to the Treasury to impart the real strength to the dollar.”
Also, through tax breaks, encourage the Americans to save part of their income in gold, Selarka advises. “Make them realize that paper assets make a person pauper.”
Urging the US to make gold an active asset in liquidity adjustment, he says that Japanese T bills or notes with near-zero yield for over 16 years have lost value whereas gold with equally zero yield has risen 269 per cent.