In a sensational News Global Financial Integrity reported that India stole 343.93 Billion US $ from the World during the period 2002 to 2011, by way of illicit financial outflows.
It is not clear to me whether this information is biased as it is from a source being funded by Ford Foundation , which is suspect.
Does India Steal from the World?
”
he developing world lost US$946.7 billion in illicit outflows in 2011, an increase of 13.7% over 2010. The capital outflows stem from crime, corruption, tax evasion, and other illicit activity.
The report finds that from 2002 to 2011, developing countries lost US$5.9 trillion to illicit outflows. The outflows increased at an average rate of 10.2% per year over the decade—significantly outpacing GDP growth. As a percentage of GDP, Sub-Saharan Africa suffered the biggest loss of illicit capital. Illicit outflows from the region averaged 5.7% of GDP annually. Globally, illicit financial outflows averaged 4% of GDP. China leads the world over the 10-year period with US$1.08 trillion in illicit outflows. However, 2011 marked the first time that Russia’s illicit outflows exceeded China’s, with a loss of US$191.14 billion against China’s US$151.35 billion. The previous methodology had significantly understated Russia’s illicit outflows, while it overstated China’s illicit outflows.’
Now the expose of this fraud called Money (Digital) is exposed by BBC.
I am not commenting and you can draw your conclusions.
Story:
Born at the start of 2009 in the aftermath of the global financial crisis – courtesy of a mysterious and possibly non-existent Japanese programmer calling himself Satoshi Nakamoto – Bitcoins are a mathematical concoction, combining the attributes of a scarce commodity, like gold, with the frictionless trading of an electronic currency. They achieve this through the ingenious combination of three factors: “mining”, peer-to-peer networking and cryptography.
The first of these is one of the central reasons for their appeal. Despite being wholly electronic, every Bitcoin in existence has been “mined” by someone running Nakamoto’s software, which regulates the global supply of Bitcoins by forcing computers to crunch increasingly difficult equations in order to generate each coin. Coins emerge at a pre-determined rate: as more people use the software, it gets harder and harder to create them, with the global supply decelerating geometrically towards a predetermined limit. At the time of writing, there were a total of 11,023,350 Bitcoins in the world (one of the joys of an open digital currency is the ease of accessing statistics), and there will never be more than 21 million.
Like everything else about Bitcoins, these factors are hard-coded into its software – and it’s the peer-to-peer element of this software that makes the system so compelling. Almost every modern currency is guaranteed by the “fiat” of government regulation or laws. That is, their worth is based on faith in a central authority – and is undermined when faith declines in that authority…
The recent surge of media-driven interest in Bitcoin has, however, shown every sign of becoming a speculative bubble. Come 10 April, the exchange value of Bitcoins plummeted by 60% from a brief high of $265 to around $150. These are numbers that belong more to a volatile commodity than to a currency, and that emphasise an uncomfortable paradox noted by Reuters finance blogger Felix Salmon at the start of April: “The commodity value of bitcoins is rooted in their currency value, but the more of a commodity they become, the less useful they are as a currency.”
As a currency, then, failure is already in the air. Yet this does not mean that the Bitcoin effect can be ignored, not least because it can be divided into two halves. On the one hand, there’s the computerised mining of a commodity strictly limited to a certain number of units. On the other hand, there is a genuinely trans-national medium for payment that is free of almost all the friction of a traditional financial system – and that brings with it a promise of security more transparent and verifiable than any bank or government can match.
Bitcoin’s software is entirely open source, and this means that its security algorithms have been subjected to just about the most rigorous testing and attempted cracking the world’s geeks can come up with. The consensus is: they’re extremely secure. Moreover, should the cryptography at some future point be found wanting, its flaws will almost certainly be identified and updated far faster than with any private system (a major software issue in March was resolved within six hours).
We have been hearing that the improved health of financial and Corporate sectoraugurs well for the Economy.
And when you find Corporate and Financial Sectors posting higher profits, you would normally expect that the Living conditions would improve and the economy would fare better.
Whenever you find a problem in Economy, there is a chorus for better Reforms_meaning sops for the Corporate and financial institutions
Have the Corporate and Financial Sector been improving in terms of profits over the years?
The Corporate Greed..Banner Against Corporate.
Look at the Statistics.
Thirty years ago, the financial sector claimed around a tenth of U.S. corporate profits. Today, it’s almost 30 percent. As a result, it’s supplanted manufacturing as the biggest profit center in the economy, a transformation I’ve graphed out below. The red line is manufacturing. The blue line is the finance sector chowing down like Pac Man on corporate America’s bottom line.
Profits of The Corporate Sector.
Now onto Employment.
Employment Statistics , Industry wise..
Some more Data.
Financial Profits % of GDP
Now you know for whom the Reforms are intended for.
In the last two posts I blogged on ‘Who runs the World Economy, Gold Price Fixed by Banks caught for frauds”.
The purpose of the first article was to point out the facts that the World is run not by Governments but by a Cabal that has vast sums of money at its disposal ans with this it dictates, influences and guides the World Economy.
To what end?
The ostensible purpose is to protect Civil Rights, Democracy and prevention of another World War and catastrophes like the Holocaust.
The facts:
World Control.
1.The ultra-wealthy have enough money sitting in offshore banks to buy all of the goods and services produced in the United States during the course of an entire year and still be able to pay off the entire U.S. national debt.
2.According to a report that was released last summer, the global elite have up to 32 TRILLION dollars stashed in offshore banks around the globe.
U.S. GDP for 2011 was about 15 trillion dollars, and the U.S. national debt is sitting at about 16 trillion dollars, so you could add them both together and you still wouldn’t hit 32 trillion dollars.
In 2010, the new Fed data indicate, America’s top 1 percent held 34.5 percent of the nation’s household wealth, almost exactly the same share of the nation’s wealth that the top 1 percent held in 1995 and not all that much more than the 30.1 percent share America’s top 1 percent held in 1989.
According to an outstanding NewScientist article, a study of more than 40,000 transnational corporations conducted by theSwiss Federal Institute of Technology in Zurich discovered that a very small core group of huge banks and giant predator corporations dominate the entire global economic system…
3.An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.
The researchers found that this core group consists of just 147 very tightly knit companies…
When the team further untangled the web of ownership, it found much of it tracked back to a “super-entity” of 147 even more tightly knit companies – all of their ownership was held by other members of the super-entity – that controlled 40 per cent of the total wealth in the network.
“In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network,” says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.
The amount of power and control that this gives them is hard to describe.
4.Unfortunately, this same group of people have been running things for a very long time. For example, New York City MayorJohn F. Hylan said the following during a speech all the way back in 1922…
The real menace of our Republic is the invisible government, which like a giant octopus sprawls its slimy legs over our cities, states and nation. To depart from mere generalizations, let me say that at the head of this octopus are the Rockefeller-Standard Oil interests and a small group of powerful banking houses generally referred to as the international bankers.
The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes.
They practically control both parties, write political platforms, make catspaws of party leaders, use the leading men of private organizations, and resort to every device to place in nomination for high public office only such candidates as will be amenable to the dictates of corrupt big business.
These international bankers and Rockefeller-Standard Oil interests control the majority of the newspapers and magazines in this country. They use the columns of these papers to club into submission or drive out of office public officials who refuse to do the bidding of the powerful corrupt cliques which compose the invisible government.
It operates under cover of a self-created screen [and] seizes our executive officers, legislative bodies, schools, courts, newspapers and every agency created for the public protection..
For additional information follow the link at the end of the post and my blogs on Rothschild s,Illuminati, Finance and Banks..
5.These elite meet at every major event where the World Leaders meet, at the back rooms and quietly decide wolrd affairs.
Most of the World Leaders are Members of the Societies being controlled by these Wealthy people.
They capture Legislative Offices, Media and Manipulate Public Opinion.
Please read my blogs on who controls the US Media , media Ownership in India .
To what Purpose?
Simple Make more money.
We are being run by an Oligarchy of a Wealthy Group irrespective of Nations and political affiliations.
This is very clearly hinted by Frederick Forsyth in his Book The ICON.
Times are changing and one can not hold on to the old values still.
Gone are the days when taking a loan was considered to be a Social sin.
To day not possessing a Credit card is looked upon as almost a Sin!
We have Companies asking people to take out a loan,’ in fact one is besieged with offers.
Under the changed socio-economic scene one can not help but to swim with the current.
Bur care is to be exercised in taking a loan , whether it is a personal or Car loan.
The following is a Guest Blog.
The information seems to be handy.
I would like to add that one may also check with the people personally, who have availed loan from the Company, to know more about the Lender.
Shopping for a car loan can be a little intimidating .But; it is not going to have to be that perplexing or nerve-racking if you just know the issues to ponder. Consider the following factors and shop for a car loan with confidence:
New Car
The Post.
1. Use the internet:
A single clicking the mouse can fix your problem right away. There are authentic lenders on the Internet that will provide you a number of automobile financial loans to assess once your bankruptcy has been launched or ignored. You can find several suppliers with various prices that you’ll be able to assess and you will have choices to choose that will fit your personal cost variety.
2. Think about third-party creditors.
Besides considering on-line viewpoint ask your family, colleagues, friends who gives their car loan. Read up on companies you are seeking for and find out one that seems to fit your circumstance best. Some are dedicated to loans, some concentrate on candidates with a bad credit score, and some also offer re-finance alternatives for the future. When you discover the best, just implement.
3. Do not act in haste:
It is a must to remember that, the circumstances set for each loan provider differ. Before discovering various lenders, it’s suggested to evaluation your current budget to get a better understanding of your monthly payments. Never hesitate to go through the terms and conditions proposed. It’s advisable not to rush. Sit comfortably in home and decide. If inquiry on any of the terms haunts you, never hesitate to pose the question to the lender.
4. Don’t rely on the lender’s information
Probably the greatest error you can create when purchasing a new car is depending on the car trader’s information. It’s not that he does not have the information, but rather that he has more of it than you do. In purchase to get the best cost on a new car, the vital factor that you have to do is to bridge that information gap. The best way to do this is by doing your preparation before you even start the procedure. To prevent having to cope with the prospective frauds and price of funding through the store, you may want to locate all of your financing choices before you get to that factor. By planning yourself with reliable details and knowing what your alternatives are, you can create a better cost-effective choice. Don’t let the satisfaction of driving turn into an anxiety and a nightmare.
5. Evaluate your budget
Do not go out of your price range. Be sure to buy a car that will be quickly cost-effective for you. Fix a price range and try to stick to your budget. It’s better not go to a very fashionable model, if it is really out of your arrive at. A reality sense is incredibly in the need. The salesman will try to persuade you to take great mortgage, but you should be conscious of your finances.
Conclusion
To get a better financing is to find someone, usually an efficient source, who is willing to co-sign the car home loan. Doing so will enhance your opportunities of getting approved since it will reduce the quality of risk to the car loaning company. Happy Shopping!
About the Author:
The above article is written by CJ, who is a community head at Fincar , the professional car loan company, Sydney and is working for various other finance specialists. She specializes in writing articles related to car finance, loans, etc.
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