The RBI, Indian Currency, Politics and unexplained Facts

When UPA printed extra currency notes to fulfil the lust of its leaders

What is the meaning of duplicate currency?

1. Same currency note of 500 or 1000 denomination in my pocket identified by a serial no. is also present within the pocket of P Chidambaram or Sonia Gandhi or UPA leader.

2. Same currency note with the same serial no. is within RBI Mint because some mint employees are corrupt or forced to be corrupt by UPA leadership

3. Same currency note with the same serial no. is within Sonia Gandhi Swiss bank/Vatican bank vault/locker.

4. Same duplicate currency is being used to facilitate religious conversion without the knowledge of receiver that he is being duped, once this duplicate currency is exposed that converted person can be sent to prison.

5. This same duplicate currency is used to fund terrorism. 

     Following are images from “RBI annual reports” Reserve Bank of India where under currency management heading, the number of notes circulation is given.

In March 2004, just before Congress took power in India, total value of 1000 Rupee note was just worth Rs 27000 crores , while 500 Rupee notes had value of 123000 crores and total constituted value of 150, 000 crores which was just 7.1% of total currency value in India. In March 2014, just before Congress left power, value of 500 denomination was 5,70,200 crores while 1000 Rupee denomination had value of 5,08,100 crores, total being 10, 78, 300 crores, constituting 84% of total currency value in India.

   Did India grow 7 times in these 10 years? Did tax collection increase 7 times? No, it only increased artificially the prices of existing real estate, gold, silver and share market investment abnormally, making everything costlier. That led to imaginary, hollow GDP growth, without proportionate job, industrial or tax growth.

  All this helicopter money was stashed in rich businessmen, politicians, bureaucrats and media barons who occupied all real estate using easy bank finance in name of industry and business expansion, which later turned into NPA, for which Modi government received brickbats. During 2007–09 Period, see below, how 1000 denomination rose in value in 2007, 08, 09 from 93000, 141219 and 191784 crores about 50% growth rate per year when the economy was down after 2008 global crisis. This was the time when notes were printed and distributed as loan to unworthy debtors like King Fisher airlines which became NPA later on.

By 2012 , it had become 3 ,46,900 crores when economy was down.

When UPA left power in 2014, 1000 note currency value had reached 5,08, 100 crores. So compared to 2007 value of 93000 crore, in 7 years, it printed around 6 times more notes while job growth and economy was down from ( 2008 global crisis) onward. 500 denomination value was 2,25,400 crores which became 3 times at 6,56,400 crores.

This is what I also call jobless growth by currency printing. All this money got into rich people’s cash chest, which demonetization tried to get out.

By 2018 March , 500 notes are valued at 7,73,400 crores from 6,56,400 crore in 2014 in 4 years and 2000 denomination is worth 6,72,600 crore .

Total 14.5 lakh crores in 2018 compared to 11.6 lakh crore in 2014 , showing about 15% currency growth in 4 years , which was 5 lakh crores in 2007 and by 2014 , it was 11.6 lakh crores , more than 125% growth in 7 years in Congress rule due to reckless printing of high denomination notes , going to unproductive loans by bank.

In short, before UPA govt came in 2004, annual reports of RBI showed about 16% growth in currency per year. But in next 10 years, it grew by 700%. With that excess liquidity of money, they claimed 10% GDP growth but there was no proportionate growth in taxes, industrial output, exports or employment.

   Normal public was happy that same house was sold for double or triple price because more money made every asset costlier.

   Apart from official printing of excess currency , there were already reports in 2013 , that there were 500 and 1000 denomination notes not printed by RBI. Millions of notes not printed in mints land in RBI vaults. Congress government was either itself involved in this or just did not care for this. Either notes were printed by the government without RBI’s knowledge or these were printed by some other organization or foreign government. Earlier RBI had all currency printing press but in 2006, government started one more undertaking for printing new currency.

Under such situation, there was only one solution to get rid of all 500 and 1000 denomination notes and come out with new notes, as there was no official record of all currency.

    Number of Actual Currency notes of 500 & 1000 was much more than RBI Official Record of only 16 lakh crores. When in every raid by income tax, Enforcement Directorate, cash ranging from 5 crores to hundreds of crores is seized , do you think that there is only 16 lakh crore cash in India in 2016 when demonetization happened.

Why did UPA printed extra currency notes?

Printing of 1000 and 500 currency notes (which is BTW serves not only lending and interest purpose but also many other purposes as well)

1. Exactly at this time between 2007-08 Dawood was in Mumbai

2. Lt. Col. Shrikant Purohit came to know not only about Dawood presence in Mumbai but also about extra printing of currency notes

3. Lt. Col. Purohit also came to know that a central UPA minister who later became CM of J&K, is a close contact of ISI, Dawood and terrorists who carried out the 26/11 Mumbai terrorist attacks.

4. The extra currency is also printed to favour some business houses very close to Sonia Gandhi, Rahul Gandhi like DLF, KFA, Jindal, Nirav Modi and Mehul Choksi and many others.

The unanswered questions

1. The extra currency printing has definitely got to do with Naxalites, urban naxals, Soul harvesting missionaries, Vatican, money laundering, antique smuggling, etc.

2. Questions did arise whether Sharad Pawar of NCP who was once again the mastermind behind the fake Stamp paper printing scam of Abdul Karim Telgi, not even punished after Telgi named Sharad Pawar as the mastermind behind whole scam in Narco-Analysis test conducted by CBI, has a role in this extra currency printing also.

3. What is the role of RBI’s Nashik Mint in not just Extra currency printing but also in fake stamp paper printing scam of Telgi because everything is revolving around Nashik, Mumbai, 26/11, Lt. Col. Purohit arrest, Abhinav Bharat and many fabricated evidences as well.

4. Question also arises as to how much portion of this extra printed currency gone to the judiciary as most judges are behaving like spoiled brats in the last four and half years? 

Do You Know the Unstated Reasons for Demonetization?

Let me connect all circumstantial links to prove my point :

 1 After PM Modi came to Power, he started understanding the financial mess created by earlier UPA government .

 2 Reason was that BJP was already sensing something fishy behind high GDP growth from 2004 to 2009 which was called jobless growth. To understand why UPA was printing unlimited notes of 500 and started printing new 1000 denomination notes at breakneck speed. They did not collect taxes to spend more on new schemes like NREGA, but simply printed more money. 

Also these notes were printed by imported ink, paper and die made abroad, so the same components could be bought by Pakistan and similar notes get printed.

Modi government decided to print them in house, reduce the size of the notes and save money and foreign currency. He had hinted it within one year of assuming power in 2015 to change the old practice. RBI should use Indian paper, ink to print currency notes: PM Narendra Modi only when these two steps were decided, Modi government waited the departure of RBI Governor Raghuram Rajan who was a UPA appointee and would not have allowed such event in his tenure, to accept his tacit support of mismanagement in previous government . 

    So, after his departure in September 2016, Modi government was ready for this big Swachchh Currency Abhiyaan. Off course, PM Modi is a shrewd politician. He achieved political ( U.P. elections) as well as national objectives in one stroke:

 1 Purging RBI of all old 500 and 1000 notes with and without record, being printed from 1987.

 2 Printing all denomination new notes in India, saving foreign currency.

 3 Punishing All black money holders.

 4 Virtually raiding on all corrupt people’s homes to know their all cash and bring their names in record , who had greatly benefited in last 10 years.

 5 Had Bank and government employees been honest and people had non-cooperated with corrupt people, it would have been historically successful.

 6 Still, he had laid the another trap of busting Shell companies which were the means of making black money to white , where all these CAs , rich and corrupt got trapped.

Saying openly that RBI was a lame duck institution under UPA was not in national interest, so PM had to come up with many emotional excuses for demonetization.

Crocodile Tears of Opposition on GST & Demonetisation Before Every Election.

Last year in September & October 2017, just before assembly elections in Gujarat , the secular parties had created big hype in media that GST and Demonetization had caused havoc, economy was killed forever by Modi and so on. But they still lost Gujarat and most elections after that.

Those who criticize demonetization, are those politicians and rich people and their NGOs (including media barons and celebrity journalists) who had amassed huge cash by unfair means in UPA regime.

I have seen them literally abusing PM because they incurred 20% cost to make it white using their employees, helpers, relatives and domestic servants, CAs , who were paid incentives and full year salary in advance. 

      Personally, I did not see any poor unhappy as each of them was earning Rs 500 daily for working for these rich people, standing in queue for them.

     Rich got most affected after demonetization because their shell companies got exposed in demonetization, which were used in converting black money by paying 10% commission using CA services. They did not know that they will also be caught in shell company investigation.

Whole Laloo family got trapped in IRCTC hotel round tripping graft case. Mamta, Maya, Laloo and Mulayam's kin had hundreds of shell companies to make their cash legal, which was collected through unaccounted sources.

       Did Akhilesh Yadav lack any money for elections, after being in power for 5 years? Before November 2016, he had already erected hoardings on government budget of publicity, paid TV channels in advance. After demonetization, every party was scared how to use that cash money available with party.

Elections are not won merely by funds . Public is voting BJP for trust in PM Modi for his guts, honesty, which no opposition leader has as on date. Once Modi disassociate from BJP, it will also not get votes.

What is the image of the BSP and SP chief in UP?

The Brother of an Ex CM of U.P. had more than 1300 crores through shell companies and 100 crore cash was deposited in a single day into party account after demonetization.

      The then ruling parties of most states got all black money converted by state machinery like electricity bill collection and roadways bus cash collection channels. Mamta’s TMC leaders involved in chit fund and Sarda scam got trapped in shell companies.

      The demonetization created panic among these filthy rich politicians and in that panic they used shell companies to save their money and got trapped with proofs. PM has said that there are more than 3 lakh shell companies still under investigation so all opposition leaders are still in panic, be they in Odisha, WB, Bihar, TN or any state.

Most middle class, service class, domestic servants were so happy during demonetization as they had nothing to fear but they were happy to see the rich class facing panic for first time in independent India’s history. Rich people lost 20% in making it white and poors benefited directly.

    That is why there was no agitation by poor people on road, despite some difficulties.

    So, even though all recorded notes were back, it exposed all rich people.

Few of my rich neighbours and relatives , who used to claim honesty in their business and criticize govt and political leaders for corruption all the time as their favourite topic, do not criticize now before us because they got exposed. They requested many neighbours/relatives to help them convert his cash worth crores after demonetization. These very fellows were posing as hand to mouth, Dhandha Manda Hai (business is dull) rhetoric all the time if their employees asked few thousand advance in emergency.

        So, don't worry about demonetization failure, it was a great move which worked despite corrupt bank employees and public who helped rich people to convert black money to white, for earning some incentive and commission.

    Media barons themselves suffered blows so they will never praise it's success. But public has experienced good effects first hand, so U.P. was won with 3/4 majority.

     Chartered Accountants were openly warned by PM for their role in shell companies and now legislation brought to hold them also accountable for cooking books, making fake reports and helping tax evaders.

    Isn’t it very disgusting and amazing at the same time, about our media and seculars, that nobody raises a finger on corrupt political leaders, bank officers, businessmen, chartered accountants who tried all the tricks to puncture the demonetization objectives, but find it easier to raise a finger on PM, who had the courage to take such step in right direction. In Hindi , it is called as Ulta Chor Kotwal Ko Daante ( The thief scolding the police or pot calling the kettle black ).

  500 & 1000 rupee notes were much more in amount than RBI's knowledge. Those were not fake but real currency notes printed in government press but using the Serial numbers which were already rolled out or was to be rolled out officially by RBI.

But our government (for that matter any ruling government, no matter which political party) can not announce or declare such wrong doings….reasons….

 1 Any country is allowed to print currency in ratio to its proportion of gold reserve and other few factors. If India announces this fact, then India will be in trouble and will face tremendous sanctions from globally leading economies

 2 Trust which India receives from international markets will shatter

 3 No foreign investors

 4 No friendly relationship with India

 5 Powerful countries get an opportunity to screw india

 6 India will go back to poverty

If you do not believe that congress has done that or printing more currency that allowed is not possible then I request you to search Google about Maharashtra's stamp paper scam, which again has a clear signature of Sharad Pawar, another corrupt of the pseudo-secular cohorts. It is a same case but with original duplicate stamp papers.

     All in all, RBI says 15 lakh thousand crores were printed and out of that 99% is returned then the reality is, more than 15 lakhs thousand crores were in India but RBI doesn't want to declare that and due to above stated and many other similar reasons Congress is being saved by being exposed.

Indian banks had collectively lent Rs 34 lakh crore just between 2008 and 2014. This is near twice the entire amount of Rs 18 lakh crore that the banks had lent in all the years from 1947 to 2008. This is the money as said above (UPA printed extra currency notes to fulfil lust of its ministers) which resulted in loan defaults and loot by the like of Nirav Modi, Mehul Choksi, Vijay Mallya, etc.