Some things never cease to amaze me… India is the fastest growing nation, with increasing exports and has a strong Damocles Index of 25 and yet it is depreciating against the Dollar. Half-baked financial experts aver that this is a global phenomenon and go back to hide beneath the rock. Nothing can be further from the truth. The current run on the Rupee is created by a cabal which I had warned several months ago and the brazenness with which this group is operating (with help from inside this Government and some in the Finance Ministry) reinforces my stand that while the National Democratic Alliance (NDA) may be in power, it is still the United Progressive Alliance (UPA) that is ruling India.
What is the Damocles Index?
Started by Lehman Brothers as a measure of a proprietary early warning system that helps identify the risk of a financial crisis in emerging countries, it is a number that starts from 0 and can go over 100. For instance, its March 2004 report on 17 countries gave Thailand, Mexico and Poland an index rating of 0 (meaning the most stable) to three-digits. A score of 100 or above indicates that the country’s economy is in crisis. If it exceeds 150, then things are critical.
What is the current rating of India?
The latest ratings issued by Nomura lists 7 countries with scores of over 100 – Sri Lanka, South Africa, Argentina, Pakistan, Egypt, Turkey and Ukraine. See the interactive graphic below for the details. Compared to these economies, India comes in at a rock solid 25.
From the above chart, it is clear that India will not have to officially devalue its currency. The perturbations that are being seen now do not cut ice (foreign outflows leaving for safer destinations – India is the safest). So what is one to conclude? As Sherlock Holmes said that “when you have eliminated the impossible, whatever remains, however improbable, must be the truth”, there is a deliberate rigging of the foreign currency to make it appear as if India is in a precarious financial position. The investigating agencies know who the culprits are. They are getting help from inside the government from individuals who might want to weaken the Prime Minister (PM). The sooner, the PM acts and nips this in the bud, the better it is for him and the country.
 Whistleblower Ken Fong claims rigging of Currency Markets in NSE by a few – Aug 14, 2018, PGurus.com
His first book NDTV Frauds has been published and is an Amazon Bestseller.It ranked second among all eBooks that were self-published in 2017.
His second book, The Gist of GSTN which too is available on Amazon as an e-Book and as a paperback.
His third book, The Rise and Fall of AAP is also available in print version or as an e-Book on Amazon.
His fourth book, C-Company just released to rave reviews and can be bought as a print version or as an e-Book on Amazon.
Latest posts by Sree Iyer (see all)
- Mr. Prime Minister, you must read the Supreme Court Judgment reinstating CBI Director Alok Verma - January 9, 2019
- Artificial avoidance of permanent establishment – the drama - January 5, 2019
- Where is the action, Mr. Prime Minister? - January 3, 2019