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NOW BE READY FOR SOVEREIGN DEFAULT

The world is indeed changing very fast. What we have seen in the last 2-3 yeras was not observed in the last 80 years in the financial markets. After the credit default, which was thwarted by pumping of money by the governments by taking debt, this, I think was inevitable. It is no rocket science and you need not be an economist to understand this trap. The Credit crisis was not eliminated, but was postponed only by shifting the private debt into public debt and in the process, the criminals of the financial terrorism unleashed on the world economy went scot free.

Now Security and Exchange Commission is reprimanding Goldman Sachs over the fraud of selling derivatives to the customers that they knew was against all ethics. But everybody was enjoying the scent of money at that time.

Now as there are reports of probable sovereign default by Greece and( so "derogatory") PIGS countries are coming in, the world must prepare itself and every country needs to introspect so that the danger of sovereign default can be averted.

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