FROM public banking institute listserv:
Raoul Pal expects a series of sovereign defaults, the "biggest banking crisis in world history", and asserts that we don't have many options to stop it. Pal previously co-managed the GLG Global Macro Fund. He is also a Goldman Sachs alum. He currently writes for The Global Macro Investor, a research publication for large and institutional investors. A note on the presentation; the last slide is not meant to suggest that we're going back to the economic activity of 3000 years ago. It refers to the 3000 year old trade links between the nations along the Indian Ocean, which Mr. Pal believes will be the center of world's opportunities. Just like the West 50 years ago, they have "...low debts, highs avings and a young population".
If you google Raoul Pal you will see many links to this slide show from many websites.