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RBI relies (again) on evil NRI's dollars
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RBI relies (again) on evil NRI's dollars
...Bash the NRIs and belittle their contribution, question their attachment to India when the going is good and resort to the usual begging when the Indians screw up the country through their corruption and black money.
Marathadi-Saamiyaar- Posts : 17675
Join date : 2011-04-30
Age : 110
Re: RBI relies (again) on evil NRI's dollars
Sarcastic as it might sound, the govt should first ask its own ministers, legislators and coalition partners to bring back all their deposits in foreign banks into India. That influx alone would solve the problem entirely.
goodcitizn- Posts : 3263
Join date : 2011-05-03
Re: RBI relies (again) on evil NRI's dollars
and it can loan the US to wipe of its own deficit, i bet !goodcitizn wrote:Sarcastic as it might sound, the govt should first ask its own ministers, legislators and coalition partners to bring back all their deposits in foreign banks into India. That influx alone would solve the problem entirely.
and the host countries and their banks which guard the loot should be punished for this crime - it's as bad as selling illicit arms/weapons and drugs:evil:
garam_kuta- Posts : 3768
Join date : 2011-05-18
Re: RBI relies (again) on evil NRI's dollars
What is sickening to me is to see these political goons unfurl flags on Indipendence Day touting their patriotism when they are absolutely unpatriotic in being the most corrupt and hiding their ill-gotten wealth in foreign banks. Chidambaram himself should do some soul-searching as should others who make up the cabinet and legislature.garam_kuta wrote:and it can loan the US to wipe of its own deficit, i bet !goodcitizn wrote:Sarcastic as it might sound, the govt should first ask its own ministers, legislators and coalition partners to bring back all their deposits in foreign banks into India. That influx alone would solve the problem entirely.
and the host countries and their banks which guard the loot should be punished for this crime - it's as bad as selling illicit arms/weapons and drugs:evil:
goodcitizn- Posts : 3263
Join date : 2011-05-03
Re: RBI relies (again) on evil NRI's dollars
Upps Aunty, your persecution complex is expanding to cover every one of your identities. First you felt victimized for being a Hindu. Now, it is vicitimization squared for being a Hindu NRI.Marathadi-Saamiyaar wrote:
...Bash the NRIs and belittle their contribution, question their attachment to India when the going is good and resort to the usual begging when the Indians screw up the country through their corruption and black money.
It's only a matter of time before you start wailing about your vicitmization on account of your (1) profession (2) Castu and sub-castu (3) Language (4) Dialect and (6) Region and sub-region etc. Finally reaching vicitimization to the power of infinity, you can then get into an unending orgy of limp-wristed breastbeating. Enjoy!
Merlot Daruwala- Posts : 5005
Join date : 2011-04-29
Re: RBI relies (again) on evil NRI's dollars
Where have you been???... If only had you not been too busy in the Tora Boara Mountains you would have noticed all of the above long back.Merlot Daruwala wrote:It's only a matter of time before you start wailing about your vicitmization on account of your (1) profession (2) Castu and sub-castu (3) Language (4) Dialect and (6) Region and sub-region etc.Marathadi-Saamiyaar wrote:
...Bash the NRIs and belittle their contribution, question their attachment to India when the going is good and resort to the usual begging when the Indians screw up the country through their corruption and black money.
Marathadi-Saamiyaar- Posts : 17675
Join date : 2011-04-30
Age : 110
Re: RBI relies (again) on evil NRI's dollars
Heard a friend of mine in India say this: Some people believe that the politicians want the Rs devalued and keep it that way till the elections, as they need to bring in the hoarded dollars from abroad.
Although unbelievable and unlikely, makes sense - given the selfishness of all our politicians.
Although unbelievable and unlikely, makes sense - given the selfishness of all our politicians.
Marathadi-Saamiyaar- Posts : 17675
Join date : 2011-04-30
Age : 110
Re: RBI relies (again) on evil NRI's dollars
I don't think so. Those politicians who have black money stored in foreign banks will never bring them back here. It is unlikely that Chidambaram will sell his coffee and tea estates in Brazil to help the foreign reserves in India. That goes for Karunanidhi, Mulayam, Mayawati and the whole rotten bunch. But NRI's would pump more dollars into India because of the attractiveness of the exchange rate and the ability to make 9 to 10% interest on just FD's as compared to a meagre 3% in the U.S.Marathadi-Saamiyaar wrote:Heard a friend of mine in India say this: Some people believe that the politicians want the Rs devalued and keep it that way till the elections, as they need to bring in the hoarded dollars from abroad.
Although unbelievable and unlikely, makes sense - given the selfishness of all our politicians.
goodcitizn- Posts : 3263
Join date : 2011-05-03
Re: RBI relies (again) on evil NRI's dollars
GC saar, they'll bring back their ill-gotten hoards not out of any love for the country's forex reserves but to finance the forthcoming elections. Campaigns run wonly on cash in our wonderful democracy. And of course, a weaker Rupee means the same dollar can buy that many more votes.goodcitizn wrote:I don't think so. Those politicians who have black money stored in foreign banks will never bring them back here. It is unlikely that Chidambaram will sell his coffee and tea estates in Brazil to help the foreign reserves in India. That goes for Karunanidhi, Mulayam, Mayawati and the whole rotten bunch. But NRI's would pump more dollars into India because of the attractiveness of the exchange rate and the ability to make 9 to 10% interest on just FD's as compared to a meagre 3% in the U.S.Marathadi-Saamiyaar wrote:Heard a friend of mine in India say this: Some people believe that the politicians want the Rs devalued and keep it that way till the elections, as they need to bring in the hoarded dollars from abroad.
Although unbelievable and unlikely, makes sense - given the selfishness of all our politicians.
I think the Indian economy will get a big consumption-led boost soon as elections approach. The big truckmakers are already salivating at the prospect....I'm thinking Ashok Leyland stock which was hammered out of shape this year (down from Rs 29 in Jan to Rs 13 at present) is a good bet.
Merlot Daruwala- Posts : 5005
Join date : 2011-04-29
Re: RBI relies (again) on evil NRI's dollars
True. Come election time the front companies will be busy stockpiling black money from foreign sources and pumping out through domestic pipelines. I don't know anything about the truckmakers you are alluding to. Care to explain?Merlot Daruwala wrote:GC saar, they'll bring back their ill-gotten hoards not out of any love for the country's forex reserves but to finance the forthcoming elections. Campaigns run wonly on cash in our wonderful democracy. And of course, a weaker Rupee means the same dollar can buy that many more votes.goodcitizn wrote:I don't think so. Those politicians who have black money stored in foreign banks will never bring them back here. It is unlikely that Chidambaram will sell his coffee and tea estates in Brazil to help the foreign reserves in India. That goes for Karunanidhi, Mulayam, Mayawati and the whole rotten bunch. But NRI's would pump more dollars into India because of the attractiveness of the exchange rate and the ability to make 9 to 10% interest on just FD's as compared to a meagre 3% in the U.S.Marathadi-Saamiyaar wrote:Heard a friend of mine in India say this: Some people believe that the politicians want the Rs devalued and keep it that way till the elections, as they need to bring in the hoarded dollars from abroad.
Although unbelievable and unlikely, makes sense - given the selfishness of all our politicians.
I think the Indian economy will get a big consumption-led boost soon as elections approach. The big truckmakers are already salivating at the prospect....I'm thinking Ashok Leyland stock which was hammered out of shape this year (down from Rs 29 in Jan to Rs 13 at present) is a good bet.
goodcitizn- Posts : 3263
Join date : 2011-05-03
Re: RBI relies (again) on evil NRI's dollars
Oh Tata Motors and Ashok Leyland have both seen a decline in their LCV and heavy vehicle sales last few months as the domestic economy has come to a virtual standstill. But elections usually see a spike in truck sales (presumably for transporting men and materials) so analysts are expecting them to do better in the coming months. So I suppose their stock will also bounce back from current levels.
Merlot Daruwala- Posts : 5005
Join date : 2011-04-29
Re: RBI relies (again) on evil NRI's dollars
Interesting.Merlot Daruwala wrote:Oh Tata Motors and Ashok Leyland have both seen a decline in their LCV and heavy vehicle sales last few months as the domestic economy has come to a virtual standstill. But elections usually see a spike in truck sales (presumably for transporting men and materials) so analysts are expecting them to do better in the coming months. So I suppose their stock will also bounce back from current levels.
goodcitizn- Posts : 3263
Join date : 2011-05-03
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