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Deep insight knowledge on global scenario.
Really like the way the author has explained the overall scenario of US economy and the biggest crisis since 1930 the Sub Prime Crisis.
This book can be read by a house wife also and can get a clear picture how the world operates and about the sub prime crisis for sure.
I am reading the book for the third time. Always feel like gaining knowledge more on every read. Feeling more knowledgeable than others while having a conversation.
2 years back I entered the stock market to know how does it operate. But by now after getting through the blog, the economy bible and insight knowledge of Kalidasji (Anil Selarka) I feel like am truly a gained man.
Can anyone believe? After reading the book by my wife a 50 gram gold bar was my valentine gift.
Author Says…Monday, 17th May, 2010 Thanks. I am glad to know that my book is being read again and again. There could not have been more rewarding award to the Author than present one. (of book being read multiple times).
Wow, 50 grams Gold Bar is worth close to US$2,000. The cost of my book is fully recovered although cost and benefits both remain within the family.
NOTE: (Kalidasji is the screen name used by the Author for his personal financial blog – http://www.anilselarka.com
Respected Sir,
This book is really a “Gagar me Sagar” and a great achievement of the year 2009.
Though it was not used by the concerned authorities to solve the sub prime & other related issues concerning the present financial crisis, it has resolved all the issues related to financial market in the readers mind.
Until now the sub prime issue was a question mark which we all readers were not able to understand. But you made the complex thing so simple that any layman can understand the day to day functioning of all the world markets.
The cover page, formatting, book binding, paper quality and printing are all marvelous and a lot of effort was put in printing of book by you, especially the facts and figure section on the left side correlating with the main part on the right side, a style that is seen first time by me in my life. I am sincerely reading it and understanding it chapter by chapter.
This book can be used as a reference book for all countries in tackling and resolving financial issues, although it is written keeping in view the issues pertaining to USA.
Wishing you, your family a very Happy New Year, sound health and good wealth.
Specially thanking you for the pain you took in dispatch of the book to me and for the kind call & advice related to health.
K D Chahar, Hindan Ghaziabad, India
Originally posted in “Readers Views – First Impressions” in Author’s blog http://anilselarka.com
The Book gives in depth knowledge of complex international financial system in simple language. Some of the chapters about oil and gold are eye opener. Sir, your knowledge, experience and ability to see the future is unbelievable. It is a “must read” book for every investor.
Ketan, Hong Kong, Dec 4, 2009 @ 3:30
Dear kalidasji, I want to thank you for writing such a book.
I read the first few chapters only. What an encyclopaedia of information? I can see that this book is going to be the “Book of the Century” and World’s best seller in no time.
All economist, strategist and financial advisers from different govt should come to you with a notebook and pencil to know the basics of economy and finance.
This I am telling from my heart as I am avid reader of your forum since last two years and a middle management professional having comfortable level of knowledge on world economy and finance.
A piece of unwanted advice if you want to look at : please make a copyright on the information and execution of your recommendation without your prior permission.
I see no reason why USA shouldn’t pay you a billion dollar before acting on their economy as per your advise.
Thanks a million. God bless you!
Pdas, Bangalore, India, Nov 23, 2009 @ 1:39
Dear Anil ji,
Sub Prime Resolved is indeed a Bible for a common man, such as myself. IT IS A TREAT FOR THE EYES AND THE MIND.
Its a veritable Storehouse of Abundance… Abundance of your Knowledge and Extraordinary ability to understand the intricacies of the Financial world.
The presentation,packaging,and illustrations are simply marvelous and the substance/content even better,rather,priceless.
Your Book is priceless and the price tag put to it is indeed loose change.
It would make very Proud as an Indian and your follower to see you as an Adviser to US Govt.to help resolve their Crises. I pray we see that day.
However,I also tend to feel that certain words are a bit harsh on the Americans and they may have a huge ego problem accepting the situation as you describe and rather continue to cover up till kingdom come.
You are indeed a Guru, sir. Thank you for sharing it with us.
Prithipal S Bajaj, Mumbai, India. Nov 20, 2009 @ 23:21
This is a unique book. From cover design to end of the book its design wise and content wise really amazing.
Reading the book on right page and referring to left page for reference material and back up make the reading a unique experience and easily assimilating the knowledge.
Addressing the sub prime problem and giving a good solution via BIS shows Author’s intelligence, understanding and deep knowledge about the cause. First and second are brilliant chapters and solution to the problem is unique one.
Oil prices manipulation is shocking one.
And reviving auto industry also very brilliant idea. And last of all dynamic taxation is the crown of this book.
Book design is simply fantastic from cover to end. We are paying money for design and printing of the book. Content in the book immensely valuable.
Regards, Rajmohan babu, Pointe-Noire, Congo. Sep 19, 2009 @ 13:10
Hi Anil, I have read the book but there are plenty or spelling mistakes and wrong syntax. I would be nice if the spellings are corrected in the next reprint.
Other than that, the entire book is in simple lucid language which lets an ordinary person understand the subprime issue.
William – Bombay
Author Says …. Thursday, October 01, 2009 No, there are not. You are used to British spellings whereas the book is based on American English
I have completed reading your book and am now reading it for the 2nd time. The book has been well researched and explained in very simple terms making it easy for a non-finance person like me to understand. As much as I enjoyed the whole book, chapters on oil and gold were the highlights for me. They present a very valid case for authorities to pursue an investigation. People might dismiss them as a conspiracy theory but the facts scream out loud and clear.
I sincerely applaud you on your amazing work and I hope you would keep them coming!
Warm regards, Vijay, Hong Kong, Aug 17, 2009 @ 8:20
Hello Sir,
Adding to my earlier comments, I get a feeling that US also know what had hit them but they cannot simply act on that unless they fix or cover the bankers or brokers. As you wrote in the book, US had used these banker and broker for hedging purpose in relate to Gold or Euro’s to keep the dollar high. It may not be possible for them to allow these banks to collapse for a reason that the US citizen or World will know the truth or true nature of US administration. This appears to me the main reason why US administration is hell bent on saving these banks or brokers.
Regards Vijay, Bangalore, India, Aug 4, 2009 @ 3:12
I have received your book and read it till chapter related to Gold.
I have certain comments on the suggestion that you have provided in the book and my experience in US and Europe.
1. You had mentioned in your book that US shall need to provide immigration to the employer than the employee. you have provided a chart in support of that however this chart may not be complete unless we have a data that shows how many immigrant people became the entrepreneur and employing the people. I have traveled frequently to US and Europe. I know many of my friends who immigrated to these countries have already become an employer and employing at least 10 people(Even today). Also this chart does not show the type of immigrant(Highly skilled people like Engineering or Medicine). I also assist in recruitment for my company for Software division, in my experience, it is simply not possible to find the people especially in Europe. In US too it is the same story. Going by my experience there is of course shortage of doctors too.
Going by this assumption at least 10% of immigrant became employer then it certainly requires 100% more either immigrant or local people with sufficient knowledge to work. In my opinion it simply not possible. I think that was the reason that US looked for outsourcing work.
2. You had also suggested that US shall need to look for looks for steps to get back the manufacturing so that unemployed people may get the job. It looks very simple on face but it is very complicated because just going by human nature it is simply not possible for most people to accept the changes quickly. For example, If you ask someone to work on lower category than the one before he was working, he simply resist first. He looks for alternatives and finally goes to state aid if he does not get anything. He may change his opinion after state aid ends but not before. Of course I am not sure of WTO regulation in shifting the manufacturing.
3.Your ideas are really good but to implement it we really require a stronger president with clear vision. It looks to me that different parts of US administration are not working together. In my opinion, as you said in the book, US simply don’t know what had hit them. If they come to know that they will fix it very quickly.
4. I also felt during my stay in US and EUROPE, the younger generation lost the vision or ambition to do be more creating than the previous generation. It looks to me that they don’t know anything of the past and they don’t want to compromise if something is missing. They are simply not accommodative.
5. In Europe, I find that all the best performing companies originated in Europe have been acquired by US companies. It appears to me that EU rather than looking for the new market or utilizing it’s own potential it simply sitting on US consumption. Most of the companies especially in Germany are in danger state of collapsing. I also see in TV many issues reported from France.
Regards Vijay, Bangalore, India. Aug 3, 2009 @ 13:24
Dear Sir , Your book talks about Not being able to trace USDs that are supposed to belong to Saudi Arabia .
Were you able to trace them in the meanwhile ?
Sachin , Pune India .Jul 23, 2009 @ 10:54
Kalidas Says …. Friday, July 24, 2009 How could I? I do not have access to their internal records.
I could guess… why not we call Osama instead of Obama?
Dear Sir , In your book you mention of derivatives causing Nikkei crash in 1990 .
This is in contrast with the popular perception of Nikkei crash being caused by bubble in real estate prices in Japan .
Could you please elaborate your understanding on this crash ?
Sachin , Pune , India . Jul 23, 2009 @ 10:53
Sir,
Your ideas outlined in the book in pages 22-27, seems to be a good idea in theory and in good times. Will that really work in such a bad situation like this we have today? Look at California state government issuing IOUs in place of money. Look at FED printing (may be some portion of it is in electronic form). Already there is lot of commercial and residential land developed in the boom time and lying vacant now because of economy. In my place (PETALUMA, this place used to be called as Telecom valley) itself, next to my company there are 10-12 commercial buildings lying vacant. In such a situation, if the government tries to market the land little far of from a city and still to be developed, Will people go for it? Do Americans are in a position to take chance again the real estate so soon? I am not doubting your idea, but the timing of it. I feel that its too late for the lazy governments to get back on track with such schemes.
Regards, Kishore,CA,USA
Sir, I just want to share my experience. Initially when I informed my father that I have purchased the book which costs around Rs. 3050, he first said why did I purchase so costly book?
After my reading the book I gave that book to my father to read. And after reading some chapters, he informed me that the book is really good with good examples, facts and figures. And I take back my words. This is how the reaction was.
Thanks for such a good book.
Venkat Gurukrishna, Bangalore, India, Jul 22, 2009 @ 2:28
Sir, I received the book with your autograph.
I finished a couple of chapters and its simply too good !!! I had been debating with my friends that the best way forward for India to tackle most problems be it rising inflation, lack of affordable housing, city congestion, crime or pollution would be to build a 100 new cities or at least develop the tier 2 and tier 3 cities…
Once I read your chapter 1, I was very happy to realize that its actually a good solution and you have suggested a brilliant way to implement it !! I hope some Indian Politicians read your book…
With new towns and cities offering quality infrastructure on par with the metros, the pressure on 5-6 big cities in India will reduce, housing will be cheaper and affordable for everyone,when rents are less, restaurants, bowling alleys,coffee shops and everything else will offer cheaper services, resulting in more money available with everyone to spend….we will also stop wasting so much money on petrol traveling large distances in mega cities… the advantages are endless…and with your innovative method the govt gets easy money with which it can lay the basic water and electricity supply lines, sewage lines and most importantly roads before the buildings are constructed by the normal people. the advantages are endless !
Thanks a lot, Krishna, Bangalore, India.Jul 13, 2009 @ 0:22
At the first sight, I did not like it much mainly because of not so good looking charts & tables.
But after reading some select chapters and mulling over them for about 2 weeks, I now feel that it is a very good book. The author aptly compares himself to a mechanic in the midst of spare part dealers; has been able see various facets of the current crisis and put them together like a jigsaw puzzle. Best part is that he has put them together in a manner which common man can understand
Most of the recommendations of Author are simple and can be effective. But, I doubt about authorities buying them. They would be worried of getting ridiculed by masses, that “how this big guy could not think of such a simple answer”. They would be happy to settle down to complex solutions.
I liked the Dynamic taxation policy most, especially since it can be adopted by every country in any situation
Abhimanyu, India. Dec 10, 2009 @ 4:28
Dear Kalidasji,
As mentioned earlier. After reading it twice , I completed the book last night. I must say that you have crafted a MASTER STROKE!!
I must say pages 23-25 were the best anyone could have thought of. I won’t discuss it here, so that the other readers can enjoy them themselves.
Analysis of gold is something again in the Chapter 14 is like an eye opener. The idea for BI (Business Immigration) is FANTASTIC! How could anyone not think of such an idea other than you?
I have been privileged to be following you since so long and must say that being part of your blog was the best of learning experience I have ever had.
Now over to the chapter for dealing with Auto and Airlines. It is true that airlines are themselves to be blamed for the reasons mentioned. I was working for an airline company and found that it does not make sense to eat into each others market share.
Peace and Good Health, Girish, Pune (INDIA), 6 Jul 09 at 3:13 am
Even Avery Goldman’s article speaks about relationship between Stock & US Dollar as is done in the book. He is talking about “letting” the stock market to fall, so that the US Dollar recovers slowly. http://seekingalpha.com/article/146108-can-a-market-crash-save-us-from-hyperinflation
– Amit, Germany, 03.Jul.2009
Dear Sir,
I had a quick go through the book and I am seeing this kind of style for the first time in my life, even though I have read 100′s of books. Congratulations!!
Your all solutions are based on one simple assumptions that US Parliament break away with Wall Street, because they have vested interest in mostly all the solutions you have prescribed in the book. Following your suggestions will mean, completely reversing their domestic and foreign policies which they have been following last 50 years.
Do you think the US could mends it ways. How much chance do you give of its happening.
Regards, Vivek, Gurgaon, India, 02.Jul.2009
Dear kalidasji,
Kindly find my feedback which would be categorized as follows: (Rating on 1-10. 10 being the highest)
1. Appearance: 10 The quality of the paper / cover and the book on the whole is excellent.
2. Structure of content: 9 The way in which the chapters are structured is also simplistic in nature. The information flow is very lucid. The only small issue is with the charts on some issues have the font a bit compressed.
3. Content: 10 The content explained is very much of a high quality. The examples on the left hand side complements the topic being explained. I actually started with chapter 14 and I must say sir, you have done a lot of work on your research.
I’m just starting the second chapter now, but may be this would interest you:
URL: http://goldprice.in/
Excerpt from the above URL:
“According to GATA (Gold Anti Trust Action Committee), about 15000 tonnes of gold has been loaned by the Central banks to the Bullion banks for which they paid about 1% per annum. The Bullion banks then sold the “loaned” gold on the open market and invested the proceeds at 6-7% per annum. It was a sweet deal until the gold prices started to move upwards. Now the bullion banks that are in debt to the Central banks have to buy it back to repay the gold borrowed from the banks. It is therefore in their interest to keep the prices down and in this respect GATA claims that it has collected mountains of evidence to suggest that each time gold rallies, the Central banks are selling more government gold to cap its price. If GATA is right, the short positions of 15000 tonnes or more have the capacity to propel the price of gold much higher than it is today. (Note: A landmark legal case is before a US federal judge alleging a variety of collusive, manipulative activities in the gold global markets.
I would continue to post queries / feedback in this forum after I have ONLY read through the whole book TWICE!!
Peace and Good Health, Girish, Pune (INDIA), 01.Jul.2009
I have received the book and have started reading it. It is really interesting.
Just want to say that, how the beginners would come to know about the concept (definition) of terms like CCD, COD,…. without which it would be probably difficult to understand the book.
Could you list these definitions on your web site ?
Regards, Sandeep, Faridabad, India.29.June.2009
Dear Kalidas
I have read about 50 % of the book. The most striking feature is your format of main book on right pages and left pages giving references. If the text books are written in this fashion all the school kids would be happy. The subject is handled in a very easy language.
I am not a finance guy and hence may not be able to comment on the content. However if I have some query I shall ask in this forum Regards, Mohan , Mumbai. India 5.June.2009
Kalidas Sir, I have received the book yesterday. It is like love at first sight I can say.
The contents, the fonts, the paragraph formatting and above all the left page examples are really good. This book can be read by any common man and can understand easily.
I have just started going through initial pages of the book. Your second chapter “BIS” is really a good SOLUTION. Thanks for sending me the autographed version.
-Venkat Gurukrishna, Bangalore, India, 24.June.2009
It’s just brilliant. Definitely a must read for anyone who is interested in knowing the cause of the financial meltdown and more importantly the solution to fix them.
Ashish, San Diego, CA, USA. Nov 3, 2009 @ 19:38
A must read for anybody interested in knowing the root cause of current financial crisis.
It provides one of the most innovative solutions to resolve it.
Prakash, Aug 20, 2009 @ 6:44
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Read what others have to say about the book and share your own experience after reading the book. Express yourself and let everyone know what you think about the book. Every impression counts from your first to your last.
