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Showing posts with label gold. Show all posts
Showing posts with label gold. Show all posts

Monday, February 25, 2013

Gold & the Developed World in the Face of Massive Change in the Next Two Decades


by Julian D. W. Phillips


















In the last five years, we have seen the start of the decline of the developed world and the real impact of the economic rise of China on that world. What lies ahead? James Wolfensohn, the ex-president of the World Bank gave a short lecture in which he forecasts what the world’s cash flows would be like in 2030:

·For the last century and far more, 80% of the cash flow of the world flowed to what we know as the developed world where 20% of the people lived. Twenty percent of the cash flow went to the underdeveloped world where 80% of the world’s population lived.

Friday, February 22, 2013

Australia: Running Out of Luck (Unless you own gold?)

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In 1964 the Australian Donald Horne, social critic, wrote a book titled ‘The Lucky Country’ a statement of irony about his beloved home – Australia. He felt that where other countries had earned their prosperity through ingenuity and productivity advancements, Australia’s was largely derived from its abundance of rich natural resources and was run by a second-rate people who were lucky to have a society derived from the British. However, with time Australians have taken on the more optimistic interpretation that their luck has been earned.


The RBA Governor, Glenn Stevens, recently addressed an audience of business leaders with this same title to Horne’s book – The Lucky Country. In his speech he tackles head on the concerns of a minority of observers who harbour concerns about the foundations of recent economic performance and question the basis for confidence about Australia’s future.

The Central Bank Revolution I (Well ‘Nominally’ So)

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“The Checklist Manifesto – How to get things right”, is a masterful book for its narrative and practical application. Written by Atul Gawande, an acclaimed surgeon based in the US, he takes us on a journey of how the simple checklist helps individuals deal with immensely complex situations, where risks can be calculated and often lives protected – skyscraper construction, medicine and investment banking.

First introduced into the US Air Force to assist pilots, the humble checklist in all its simplicity has helped generations of pilots navigate the complexity of flying modern aeroplanes. Gawande himself has introduced the concept into operating theatres and hospitals around the world with astounding success.