Thoughts and Reports
-
Banking Freedom and Regulation
Banking is not an industry that can be successfully created or directed by the state through administrative will; it is an institutional response to the evolving needs of society, trade, and industry. Wherever banking has matured sustainably, it has done so organically—growing alongside commerce, adapting to risk, and earning trust through credibility, prudence, and security.… Continue reading
-
US, Traump and Tariffs
Trump’s methods were controversial, but there was a method behind what many dismissed as madness.By raising average U.S. tariff rates from about 3–4% to nearly 20%, the government sharply increased customs revenue. This not only helped compress the trade deficit but also created fiscal space to buy back U.S. Treasury securities at lower market prices.At… Continue reading
-
India, an Oceanic Economy
India is, by its very geography and demography, an oceanic economy in itself. With a vast domestic market, diversified consumption patterns, and a growing services and manufacturing base, India need not anchor its long-term growth strategy excessively to exports.Economic logic suggests that production should first serve domestic demand efficiently. Once domestic needs are met at… Continue reading
-
Public Debt… Reality of it
Public debt in large economies is primarily owed to domestic savers—households, pension funds, insurance companies—and to a lesser extent, foreign investors. In effect, the government borrows from its own citizens, and this debt later becomes a source of income during their retirement years.Since meaningful savings are possible mainly for higher-income groups, countries with higher per-capita… Continue reading
-
Gold, GDP and the Illusion of Safety
Gold is often discussed as a hedge, but its real behaviour is frequently misunderstood.The true measure of gold’s value is not its price in currency, but how large a basket of goods and services one unit of gold can buy.If global GDP rises because of higher real production and productivity, the supply of goods and… Continue reading
-
Policy Proposal: Mobilising Household Gold for Productive Capital Formation
Indian households collectively hold one of the largest stocks of private gold in the world. On an average basis, a family today may hold gold worth nearly ₹25 lakh, with higher middle-class households holding gold valued at ₹1 crore or more, and even lower middle-class families holding ₹35–40 lakh. This gold serves as a financial… Continue reading
-
Learn about investing
Investing has become far more accessible than before, but the outcomes will increasingly favour discipline over activity. Long-term rewards are more likely for those who avoid speculation and excessive trading, maintain diversification across sectors and asset classes, and impose clear limits on exposure to individual stocks. Capping any single equity at around 2–3% of the… Continue reading
-
Gold in Indian Hands
The financial wisdom of Indians will truly be acknowledged when a part of their vast gold holdings is consciously channelled into productive assets—assets that generate enterprise, create employment for the next generation, and produce wealth through sustained effort rather than passive possession.At the same time, there is no denying the wisdom of earlier generations. They… Continue reading
-
US Debt Burden Lightened
It is worth asking whether the United States is quietly lightening its debt burden by tolerating a gradual erosion of faith in the dollar. A weakening dollar environment inevitably pushes yields higher and drives down the market price of long-dated US government securities. When bonds fall, the real value of outstanding debt falls with them.In… Continue reading
-
Gold and Equities
The gold–equity ratio deserves consistent respect as a guiding signal for asset allocation. Both gold and equities are ultimately influenced by monetary expansion and the prevailing interest-rate environment, which makes their relative valuation a meaningful long-term indicator.Other developments—geopolitical events, policy shocks, or market sentiment—do play a role, but their impact is usually transient. Such factors… Continue reading
Panch Tattva Wisdom 