United Idiocy of United Nations: Ukraine Grain Crisis. 

As STUPID STUPID MEDIA megaphone that US and Ukraine has signed a treaty to allow Food grains and Fertilizers out of embargo and allow ships to transport them.

Let's do a quick fact check,  

According to Ukraine,  it no longer has a safe port to transport food-grains , the major road to Odessa is under attack at Mykolaiv and According to Russia,  Odessa port is heavily mined by Ukraine. 

Kherson is occupied by Russia, so no Ukrainian grain shipment can come through that, sending barges on Dnieper river is also out of the question. 

So unless they para drop grains from Ukraine at Istanbul, this treaty isn't worth the paper it is printed on.

But if this useless pact puts greedy profiteers off from commodity trade for 3-4 days, that will be a small mercy in dark dark times.

I know, UN Secretary Generals are so well paid by BIG OIL, that crude oil embargo will not be excluded.  Behind every war in last 30 years, there has been one and only one Motive.  CRUDE OIL PRICE HIKE.

You might as well as put up a banner "This Part Of War is brought to you by ExxonMobil, BP, Shell and Total" and No wonder Governments Of US, UK and France are getting secret payoffs for keeping the conflict going.

Modi Scams galore as Indian Media snores on the job

 Adani Gaming Corporation and Modi's GoM giving permission to Open Casinos 

As Indian Media continues to sleep and snore the Group of Ministers has approved a plan to open Casinos in India. Yes, Yes, much understated Consumer Price Index is up at 7% Inflation, common people are hurting in pricey food articles and Government Ministers thinking "Yes, Gambling is the way out of hyperinflation mess".

Of course, Gambling and even sports betting is banned in India in Most places and before the ban, it was gaming & lotteries were offered as provincial state matter and not a federal Union Subject.

Still such a "Group Of Ministers Committee " were allowed to be set up, not a peep of protest in Media and so called opposition parties. 

And GoM Proposed "Casinos to be allowed " and that came up on a News ticker. Various state laws preventing Gambling and Betting notwithstanding, Numerous High Court and Supreme Orders calling "High risk gambling as social evil" notwithstanding. 

And Look what I found, in 2009, a Corporation was set up in Las Vegas, Nevada, USA ... the Gambling capital of the world.. Under the name, Adani Corporation.  Of course, 2009 was not a good year for Casinos and so Company failed to acquire any gambling den and it subsequently became inactive. 

Actually Adani group had attempted to open Casinos in Macau also, but were unable to make it big, at least officially. So if you see the "Adani Gaming" casino in any mall in India , don't be surprised. 

And it is to be followed by "Jio Jua" and "Tata Bets" soon. After all, supermarkets and grocery chains are not renting more commercial spaces. 

Win-win for Billionaires, Lose-lose for Common People. 

SCAM No 2: RBI - Indian Bank money laundering scheme.

Just yesterday RBI allowed Foreign Entities to settle trades in Rupees,  if they have accounts in Foreign branches of Indian Nationalized Banks (Well, Zimbabwe should take note :).

Today, SBI and ICICI Bank upped the interest rates in fixed deposits on Foreign currencies.  As if, after 3 years they would get minting rights on US, Canadian, Australian Dollars and British pounds. Some stupid NRI Software engineers might put their savings in there, nobody else would. 

Except for Money Laundering, these facilities won't do any good to anyone . 

On the flipside, Indian Banks have to keep higher operating forex reserves.  If big-time money laundering happens, a special crash on Indian Rupee will come in 2025, when 3 year term deposits will mature. 

RBI lacks the maturity and intelligence to govern to operations of overseas Branches of Indian Banks. While Pensioners and old people get no benefits in savings accounts of these banks , RBI  is choosing to facilitate NRI and HNI money laundering first. 

If this is not a SCAM , what is. Deliberately exposing Banks to Forex Shocks could turn India into Sri Lanka very fast. These are crimes against the nation and humanity.

Entire Gangotri Glacier is now a Lake

 Entire Gangotri Glacier has melted into a Glacial Lake

 

 

 From Today's NASA's Aqua satellite feed, it is clear that Heatwave of 2022 has claimed another victim from glaciers of Himalayas.  

Firstly those of you who haven't visited the glacier,  Gangotri is or rather was a Valley glacier and not a mountain (top) glacier. Every year it recedes in lower altitudes (which would be a 3000 metre high). But now as you can see from the picture even 5000 metres level , you don't see snow or ice.  Just a murky grey water like body with an island made out of glacial debri in the centre. 

Since this Valley drops from an altitude of 5500 metres to 3000 meters in a length of just 25 kilometers, it is no surprise most water accumulated near Gangotri town in North West of the Valley .  This temporary waterbody can crash down on the town in any moment. 

Yet there are no acknowledgement from Government of India or anything in bogus Indian media or any preparation of the threat. 

They can't say, nobody warned us this time.

Windfall Gains Tax : The Ignorance of Indian Media and their Government Masters

 Windfall Gains Tax and the ignorance of Indian Media And their Political Masters .

At the onset, let me say that I have been a long time supporter of "Windfall Gains Tax" and was called "Bengali Communist" and other uncountable names.

What is termed as "Windfall Gains Tax" on oil refineries is actually an "Export Duty" targeting other South Asian Countries. 

Let's start with Definitions, shall we? 

What is "Windfall Gains" ?

When a company or a sector of industry, takes advantage of prevailing economic extra-ordinary circumstances and makes huge profits which in turn is hurting the economy by creating high inflation,  then and only then, the additional profits is called "WINDFALL GAINS" .

Extra-ordinary circumstances like War, Famine, Drought, Flood, Epidemic and of late, Global Supply Chain Disruptions.

 So, What is "Windfall Gains Tax"?

Let me Quote "Investopedia" otherwise may be you won't believe it.

" A windfall tax is a tax levied by governments against certain industries when economic conditions allow those industries to experience above-average profits. Windfall taxes are primarily levied on companies in the targeted industry that have benefited the most from the economic windfall, most often commodity-based businesses."

 What's the purpose of this tax?

This is to encourage the companies to reduce prices as after this tax the increased prices won't bring in any more revenue as Windfall gain. 

HOW TO IMPOSE WINDFALL GAINS TAX:

Simply add it to surcharge of Corporate Income and NEVER On Sale Price of Commodities.

But that's exactly Government of India is proposing as they are levied on Petrol, Diesel,  Aircraft Fuel exports which are refined in India. 

Trouble with such taxation is, these taxes will be passed on to end consumer and will not reduce the company's "WINDFALL GAIN".

Moreover "Windfall Gains" increases with the market share of the company. Therefore a constant Export duty or for that matter even Excise / VAT will hurt smaller players as their profits will take the hit disproportionately. 

So This is not Windfall Gains Tax as they won't reduce the prices or do any other SOCIAL GOOD.