New Delhi, June 29 (FN Agency) Economist and author Shanmuganathan N has claimed that the world is facing the threat of a major financial crisis. This threat will be many times bigger than the housing bubble of 2007-09 and the financial crisis caused by it. On the basis of his data and research results, he said that the foundation of the US dollar is fragile and can collapse at any time. Shanmuganathan has advised the world to adopt the gold standard again. During the launch of the book “RIP USD: 1971-202X.. and the way forward” organised by public policy think tank Centre for Civil Society at the Constitution Club, the author of the book Shanmuganathan N said that the US government is constantly printing new currency to cover up a bubble and creating many big bubbles one after the other and no one is paying attention to this. Shanmuganathan also advised people to keep as much gold as possible instead of currency.
Addressing the gathering via video conferencing during the launch, Swiss investor and editor of Gloom, Boom and Doom, Dr. Mark Faber said that we all agree that we are heading towards a major economic crisis. He said that the current financial system has become many times bigger than the real economy and it is not sustainable. Economist Christopher Lingle said that the questions raised in this book need to be taken seriously and appropriate steps need to be taken in this context. During the launch, a panel discussion was also organized in which apart from author Shanmuganathan N., CCS Founder President and Indian School of Public Policy’s Dr. Parth J. Shah, IIT Madras’s Professor R.K. Amit expressed their views. CCS Senior Fellow Kumar Anand changed the topic of the discussion. CCS CEO Dr. Amit Chandra expressed his thanks.