Reflections of Rajaram Bojji

Our ancients say we are only 5000 years into the 432000 years of the Kali Yuga, in this Manvantara( 28th?) each Manvantara about some 10x 432000 years.. so the destructive phase is still more than 425000 years away. Well these numbers are quite beyond my perception of time which I can experience. Even Maya prediction suffers from interpretation issues..one version is a life style change, a shift in values and power centers of the planet to affect human life in a big way is expected to be triggered. Like the Mayans' own way of life and their calendar were sort of gone out of existence due to external aggression and new value systems got imposed on them years ago. Let us imagine what can suddenly alter our value systems? Well I am always amused at the ferocity with which gay marriage and union seems to have attained a position of such importance today in the society in many a country and such same sex marriage is called hard won freedom by the TV and even BBC channels ...More often ...

I don't understand why the finance gurus still talk of derivatives as a natural corollary of financial system's evolution. The simple bench mark for any innovation should be, you cannot create more value than the available wealth; by perception based floating papers, using further such virtual paper to create even more of the same variety, we create a virtual realit of wealth. It is a hidden game of similar to the same scams perpetrated in earlier days of banking too.It is only Warren Buffet who stated in no uncertain terms that the derivatives will prove to be the weapon of mass destruction for the financial system and got his company out of it. It is time that experts like Rangarajan come out strongly and condemn and ban the derivatives approach in financial systems for protecting the economy from another future down turn. I am glad at least Dr Reddy, our former RBI Governor in a talk with me did agree that considerable risk and inadequate transparency prevail in quite a numb...