As Europe Goes Down, We Need To Be Prepared For Consequences - By R Vaidyanathan (11/3/13) PDF Print E-mail
R Vaidyanathan   
Monday, 11 March 2013 09:38

The European economic and social crisis is becoming worse with each passing day. One business channel asked me in 2008 how long it might take to recover and I responded saying 40 quarters — they never came back to interview. But now I forecast it may never recover.

Sri Aurobindo said that India will rise on the ashes of western civilisation and it seems to be coming true. It is important to recognise that the dominance of the West has been there only for last 200 odd years. According to Angus Maddison’s pioneering OECD study, India and China had nearly 50 per cent of global GDP as late as the 1820s. Hence India and China are not emerging or rising powers. They are retrieving their original position. In 1990, the share of the G-7 in world GDP (on a purchasing power parity basis) was 51 per cent and that of emerging markets, 36 per cent. But in 2012, it is the reverse. So the dominant west is a myth.

Europe is facing three types of crisis – economic, demographic, civilisational and it is not in a position to come out of these. All three are not recent ones, they were developing over a period and have now culminated into a catastrophe.

The Debt to GDP ratio of most of Europe is at unsustainable levels with our own Britain having above 500 per cent — I say our own since we are going to have to help them run their country sooner than later. There are three major constituents of debt — Government debt, corporate debt and household debt. Of the three, we find household debt has reached nearly 80 to 100 per cent of GDP in most of these countries. The reason is simple — unlike India, households in Europe and USA have forgotten one simple word — savings. They live on debt and are interned by debt.

The situation is made worse by the unemployment situation. Youth unemployment has reached 55 per cent in Spain and is hovering above 30 per cent in most of the other countries. Youth in Europe is defined as being between the ages of 16 and 24, unlike in India where even a 43-year-old is a ‘youth icon’. The overall unemployment is at more than 25 per cent in most countries and it is creating social turmoil.



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Stunning List Of Economists, Financial Experts, And Bankers Say We Need To Break Up The Big Banks - By G Washington (7/3/13) PDF Print E-mail
G Washington   
Thursday, 07 March 2013 13:57

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Central Banks Are Suppressing Gold And Silver, Sprott Tells The Gold Report (6/3/13) PDF Print E-mail
Administrator   
Wednesday, 06 March 2013 09:21

Interviewed by J.T. Long for The Gold Report

Sprott Asset Management CEO Eric Sprott couldn't be plainer about gold and silver price suppression.

"This will sound like a conspiracy theory," Sprott says, "But unusual things are happening in the gold and silver markets.

"For example, on Feb. 19, nearly an entire year's supply of gold traded on the Comex in a single day. The same volume of silver trading happened on the commodities exchange. You and I both know that the people selling that much metal cannot deliver it because it is just not available. Yet somehow they are out there, pounding down these contracts and keeping the price suppressed.

"I would hypothesize that the central bankers know their policy of printing money is the most irresponsible thing imaginable, and they are suppressing gold and silver prices to hide their irresponsibility. When one is printing that much money, gold and silver prices are the first things you would expect to rise. If we saw gold going to $2,000 per ounce, the price of oil would probably go to a new high and the price of agricultural commodities would go up. Then you would have a huge inflation problem on your hands.

"Based on my research, I believe the Western central banks have been surreptitiously supplying gold to the market."

For more on this interview go to:

The interview is headlined "Eric Sprott: Central Bankers Are Gaming Gold" and it's posted at The Gold Report here:

http://www.theaureport.com/pub/na/15052



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A Detailed Look At Bank Of England Gold - By Alasdair Macleod (6/3/13) PDF Print E-mail
Alasdair Macleod   
Wednesday, 06 March 2013 09:20

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12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost Here - By Michael Snyder (6/3/13) PDF Print E-mail
Michael Snyder   
Wednesday, 06 March 2013 09:19

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