Event calendar file
ASET Colloquium
RIP USD: 1971-202X …and the Way Forward
by Mr. Shanmuganathan Nagasundaram
Friday, September 20, 2024
from
to
(Asia/Kolkata)
at Hybrid ( https://zoom.us/j/91427966752 )
at Hybrid ( https://zoom.us/j/91427966752 )
AG66, TIFR, Mumbai.
| Description |
Abstract: The Amazon Rainforest takes care of itself through small bushfires thus avoiding a massive fire which can take down the forest. In contrast, the Federal Reserve has been dousing the ‘economic bushfires’ for decades by raining liquidity, and in the process, pushing the USA towards an inferno i.e. the "Greater Depression". The Amazon is now ready to burn! The dollar is on the edge of a precipice and Gold is ready to run up to $24,000/oz and beyond. Shan compares the economic progress under the gold standard and the current monetary system prevailing since 1971. He effectively establishes that the US dollar is on fragile foundations which in the long run will lead to a collapse in its purchasing power. Of essence is the thesis that NOW is that “long run”. "RIP USD" is an invitation to look beyond the horizon, to question the presumed permanence of established institutions and to consider what lies beyond the reign of currencies and central banks. About the Book The book starts with the basics of money, interest rates, and inflation to explain the imminent threat to the purchasing power of the US Dollar. As explained, we are only months away from a repeat of the GFC 2008. This is expected to start as early as H2 2024 and the effect will last for years to come. The book forecasts an inflationary depression for the US, with double-digit price inflation combined with a massive recession. Ultimately, this will cause the world to move away from the US Dollar and towards Gold as the Reserve Asset. While the focus has been on the US Dollar and the US Economy, much of what ails the US is true for most other countries including India. The solutions outlined though almost politically impossible for the US to implement can be more easily incorporated by the other countries. Foreword to the book has been written by two renowned Economists - Doug Casey and Dr.Marc faber. The book is written from the perspective of a working professional without any formal educational background in Economics in a very easy-to-understand way. Profile: Shanmuganathan Nagasundaram is an alumnus of IIT-BHU (Mining Engg 1990-94) and IIM-Lucknow (1996-98) after which he had a nearly decade-long career with Infosys Technologies Limited with Consulting experience across North America and Europe between 1998 and 2005. He has been an Economic Columnist and Investor for the last 15 years and has been featured in many International Newsletters on topics including Free Markets, the Gold Standard, and the Federal Reserve. He predicted the 2008 Housing Bubble in many National (Mint, Business Line) and International magazines.
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