Uncertainty for the Pound Sterling as Memo is Leaked


pound-uncertainityTheresa May, the UK Prime Minister, told the country to take the new opportunities ahead and to set the standard for other nations to follow during her recent speech. The speech had a positive reception but was later overshadowed by a memo that was made to the Cabinet Office. The Times and the BBC saw the memo and reported that it spoke about the lack of a common exit strategy for the country. The government denied what the memo said, according to a BBC report. The memo noted that it would take at least another six months to prepare to Brexit and require as many as 30,000 additional staff members to handle the amount of paperwork involved. Read more of this post

My Thoughts


I suppose that even dodos have figured out that what we are told in the mainstream press and often on social media is what some or other person or entity wants us to know so that hopefully we are influenced in a way that benefits them. And wealthymatters readers are far from idiots.

The editorial below has appeared in today’s ET. Following are my thoughts:

How Modi Stole Manmohan Singh’s Thunder

MC GOVARDHANA RANGAN

Jaitley should borrow Chidambaram’s withdrawal tax

P Chidambaram as Finance Minister in the UPA government had many path-breaking initiatives, and one such was his proposal to tax cash withdrawals from banks. The unfortunate part was that it never got the backing of his own government, so abandoned.If only Prime Minister Manmohan Singh was half as powerful as Prime Minister Narendra Modi is, the proposal would have seen the light of the day and Singh, Chidambaram & Co would have stolen the black money thunder on which Modi is gloating now. Read more of this post

Raghuram Rajan On Demonetization


“In the past demonetisation has been thought off as a way of getting black money out of circulation. Because people then have to come and say “how do I have this ten crores in cash sitting in my safe” and they have to explain where they got the money from. It is often cited as a solution. Unfortunately, my sense is the clever find ways around it.They find ways to divide up their hoard in to many smaller pieces. You do find that people who haven’t thought of a way to convert black to white, throw it into the Hundi in some temples. I think there are ways around demonetization. It is not that easy to flush out the black money. Of course, a fair amount may be in the form of gold, therefore even harder to catch. I would focus more on the incentives to generate and retain black money. A lot of the incentives are on taxes.”

Destiny’s Gift


wealthymatters , vinit goenka

Last night, prompted by this extraordinary story of a 40 year friendship (Link) I went to bed thinking of the most notable friendships of my life….The beginnings, the highlights and the endings and the different flavours. In this post, I share the story of an extraordinary friendship that grew most unexpectedly out of networking.

Late 2013-Early 2014,I wished to connect with a “Person”. I’ve always liked his approach to work. And I believed that I could add value to his work in a way that no one else could. However, the most obvious person I could enlist to make this connection was far from tech savvy.  I wished to be taken seriously for my abilities, not accommodated as a favour. So I spent a couple of months feeling stymied and was considering just trying my luck and cold calling. That’s when IndiBlogger announced the BigRock #Word-Up on the 20th of September,2014.One of the keynote speakers on e-governance was Vinit Goenka. He was the National Co-Convenor of the BJP-IT Cell then. The IT bit sounded good , though I had no idea where he stood in the party’s scheme of things or with the “Person” I wished to connect with . In anycase, I was game to try. At least I could draw closer and make my way towards what I really wanted, never mind the steps in between. So, I made contact ,drawing on the name of a family friend I judged as unlikely to draw extremely negative responses from any quarter. The name of our mutual acquaintance worked well enough to get me a visiting card and a first appointment. Below is a photo of me from a little while before we met. Yeah ! Life is strange we met in a pub……………a man who doesn’t drink at all and hates the very smell of liquor and a woman who hates the taste of most liquor and disguises it with copious doses of additives to manage the required social drinking to network………….. Read more of this post

Quite Literally


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