Express.co.uk – MACER HALL – Nov 11, 2011
…City insiders yesterday speculated that the “death warrant” for the euro had already been written, with a new economic bloc dominated by Germany and France almost certain to emerge in its place.
Howard Wheeldon, senior strategist at BGC Partners, said the single currency experiment had failed.
“Undoubtedly it has failed. We know the concept of a single currency was flawed right from the start. There were too many big differences, in language, in culture and in the economies. There is absolutely no chance of the euro surviving in its current form. It cannot happen.Go to story
Slate – NOURIEL ROUBINI – Nov 11, 2011
With Italy too big to fail, too big to save, and now at the point of no return, the endgame for the eurozone has begun. Sequential, coercive restructurings of debt will come first, and then exits from the monetary union that will eventually lead to the eurozone’s disintegration. Go to story
excerpt from “A Formula for Peace”, Journey of Self Discovery:
The Gita [16.13] describes how a person driven by the lust for material happiness thinks, “So much wealth do I have today, and I will gain more according to my schemes. So much is mine now, and it will increase in the future.”
The atheistic, or godless, civilization is a huge affair of sense gratification, and everyone is now mad after money to keep up an empty show. Everyone is seeking money because that is the medium of exchange for sense-gratificatory objects. To expect peace in such an atmosphere of gold-rush pandemonium is a utopian dream. As long as there is even a slight tinge of madness for sense gratification, peace will remain far, far away. The reason is that by nature everyone is an eternal servitor of the Supreme Lord, and therefore we cannot enjoy anything for our personal interest. We have to employ everything in transcendental service for the interest of the Lord. This alone can bring about the desired peace. A part of the body cannot make itself satisfied; it can only serve the whole body and derive satisfaction from that service. But now everyone is busy in self-interested business, and no one is prepared to serve the Lord. That is the basic cause of material existence.
From the highest executive administrator down to the lowest sweeper in the street, everyone is working with the thought of unlawful accumulation of wealth. But to work merely for one’s self-interest is unlawful and destructive. Even the cultivation of spiritual realization merely for one’s self-interest is unlawful and destructive.
As a result of all the unlawful money-making, there is no scarcity of money in the world. But there is a scarcity of peace. Since the whole of our human energy has been diverted to this money-making, the money-making capacity of the total population has certainly increased. But the result is that such an un-restricted and unlawful inflation of money has created a bad economy and has enabled us to manufacture huge, costly weapons that threaten to destroy the very result of such money-making.
Instead of enjoying peace, the leaders of big money-making countries are now making big plans how they can save themselves from the modern destructive weapons, and yet a huge sum of money is being thrown into the sea for experiments with such dreadful weapons. Such experiments are being carried out not only at huge monetary costs, but also at the cost of many poor lives, thereby binding such nations to the laws of karma. That is the illusion of material nature. As a result of the impulse for sense gratification, money is earned by spoiled energy, and it is then spent for the destruction of the human race. The energy of the human race is thus spoiled by the law of nature because that energy is diverted from the service of the Lord, who is actually the owner of all energies.
Wealth derives from mother Lakshmi, or the goddess of fortune. As the Vedic literatures explain, the goddess of fortune is meant to serve Lord Narayana, the source of all the naras, or living beings. The naras are also meant to serve Narayana, the Supreme Lord, under the guidance of the goddess of fortune. The living being cannot enjoy the goddess of fortune without serving Narayana, or Krishna, and therefore whoever desires to enjoy her wrongly will be punished by the laws of nature, and the money itself will become the cause of destruction instead of being the cause of peace and prosperity.
Such unlawfully accumulated money is now being snatched away from the miserly citizens by various methods of state taxation for the various national and international war funds, which spend the money in a wasteful manner. The citizen is no longer satisfied with just enough money to maintain his family nicely and cultivate spiritual knowledge, both of which are essential in human life. He now wants money unlimitedly for satisfying insatiable desires, and in proportion to his unlawful desires his accumulated money is now being taken away by the agents of the illusory nature in the shape of medical practitioners, lawyers, tax collectors, societies, institutions, and so-called religionists, as well as by famines, earthquakes, and many other such calamities.
One miser who, under the dictation of the illusory nature, hesitated to purchase a copy of Back to Godhead spent twenty-five hundred dollars for a week’s supply of medicine and then died. A similar thing happened when a man who refused to spend a cent for the service of the Lord wasted thirty-five hundred dollars in a legal suit between the members of his household. That is the law of nature. If money is not devoted to the service of the Lord, by the law of nature it must be spent as spoiled energy in the fight against legal problems, diseases, and so on. Foolish people have no eyes to see such facts, so necessarily the laws of the Supreme Lord befool them.
The laws of nature do not allow us to accept more money than is required for proper maintenance. There is ample arrangement by the law of nature to provide every living being with his due share of food and shelter, but the insatiable lust of the human being has disturbed the whole arrangement of the almighty father of all species of life.
By the arrangement of the Supreme Lord, there is an ocean of salt, because salt is necessary for the living being. In the same manner, God has arranged for sufficient air and light, which are also essential for the living being. One can collect any amount of salt from the storehouse, but one cannot take more salt than he needs. If he takes more salt he spoils the broth, and if he takes less salt his eatables become tasteless. On the other hand, if he takes only what he absolutely requires, the food is tasty, and he is healthy. So ambition for wealth, for more than we need, is harmful, just as eating more salt than we absolutely need is harmful. That is the law of nature.