Got a bad feeling this Rajesh Exports scam may end up being a front for Indian neta, dhandos, babu axis to illegally siphon off wealth to Swiss accounts.
Too many indicators:
1)Too well connected,
2)escaped action since 2014,
3)owns a Swiss owned company.
4)Gujarati founders.
My piece in @livemint today.
India faces 2 choices: Indian households blow up their savings, giving F2s minimal cost exits.
RBI blows up reserves, defending the Rupee, swapping SIP Rs into USD, giving F2s low cost exits.
Our projected import ( merch services) cover is just 6 months. Deep red zone.
Our projected BOP deficit is ~13% ( that's optimistic IMO) of current reserves. Even in 2008, it was just 8%.
So get the magnitude of the problem.
We can't fight this 2 front war. It's a ticket to the IMF.
Sensible choice: sacrifice the Stock Market. It never busts a nation.
FX crises always do.
Remember the 80s multiple Latam Tequila crises?
My reco:
RAISE taxation on MF investing.
Lower F2 new investment taxes.
( We used to have 0 tax on F2s and 20% on locals, in the 90s. We needed dollars then. We need dollars now. )
So:
Stock market crashes.
That's fine. F2s try selling but there are few willing buyers on the other side.
Selling into illiquidity always crashes prices.
But we don't lose USDs because quantum of selling absorbed will a fraction of today.
And at 30-40% lower prices, after a crash, the same selling F2s will become buyers.
I have seen this multiple times in my sell side life. " Market is cheap now": becomes the chatter in Manhattan after some champagne. " Let's go back in"
We saw $20 billion flow in 09-10.$ 10 billion in 13-14.
Each after a massive crash.
Crashes almost always trigger massive F2 inflows.
We must make this happen.
We simply can't give easy exits.
Exits must be made costly.
Even unviable.
That's the way it used to happen before.
I am prepared to endure the pain on my India holdings for a while.
Stock markets always come back in a year or two.
No currency ever regains the glory of its pre-crisis levels. Almost none.
Absorb this fact slowly.
Since March this year, I have put ~ Rs.200 cr into India.
I am fine to take pain on my holdings if it saves the country.
Are you, the Jain, the Gupta, the Patel, and millions others, prepared to do the same?
MF distributors? Asset Managers?
Are you prepared to let go your swarth for the country?
Because else, 12 months from now, we will be teetering at abyss' edge.
Stalin
Vijayan
Siddaramaiah
CBN
These names represented the very foundation of South Indian federalism.Losing this entire front line within months shatters the political equilibrium.When our collective shield collapses so quickly, the entire South becomes dangerously vulnerable
2011-2021 வரை நல்லா நாசம் பன்னானுக அதிமுக. இருக்க எல்லா ஐடி கம்பெனியும் bangalore , hyderabad nu போயி இப்ப அங்க நல்லா develop ஆகிருச்சு . திரும்பி நல்லா முன்னேறி Sipcot பெருசாகி ஐடி investments திரும்ப வரும் போது அடுத்து ஒரு கோமாளி நாய கொண்டாந்து உக்கார வச்சுருக்கானுக
Literally blood is boiling after seeing the selfish people who are resigning their MLA seats. You just insulted the people. There should be ban on these people to contest in elections. #TVKVijayFails#TVKVijay
For years, BJP called Rahul “Pappu” & TN Congress slept quietly in their graves.
One question about Vijay? They crawl out as angry zombies foaming at their mouths.
Even TVK tharkuris don’t defend this blindly.
Clear priorities for Cong zombies :
Vijay >>>>>>> Rahul
😂😂
Once you visit small countries like Sri Lanka, Thailand, or Vietnam, or cities like Dubai for the first time and then come back to Indian streets, you realize how much you’ve been scammed by your municipality, local MLA, MP, and the whole system.
Once again, my appeal to Indians in America on a visa. Please come home. Even if you feel it is hardship and sacrifice, self-respect should dictate your course. Let's make Bharat proud 🙏
Why does every TVK MLA, un-elected functionary & fake doc rush to do "hospital inspections" first? 🏥 98% of doctors sweat blood daily to run these facilities perfectly. Stop targeting hard-working medics for cheap PR stunts. "Elect a clown, expect a circus." Absolute shame! 🤡
THIS IS AN ABSOLUTE SHOCKER 😳🔥
Gautam Adani was indicted by the Biden DOJ for corruption and fraud.
Then Adani hired one of Trump’s personal lawyers.
That lawyer reportedly told the DOJ: drop the case, and Adani will invest $10 billion in the US and create 15,000 jobs.
Now the DOJ is reportedly dropping the charges.
While India is struggling with unemployment, Adani is talking about creating jobs in America.
Now connect the dots.
TVK Vijay promises a clean and bribe free government.
It’s been 6 days since Vijay took over as the CM.
Till date Rs.10 is being collected in TASMAC for every bottle. So 10 crores collection per day that means 60 crores till now has been collected.
Why was not stopped from Day 1 and another question is where has this 60 crores gone???