EP 139: India, Japan to hold 2+2 talks, China official admits vaccine is poor & more

Iran Nuclear site damage, India-Japan 2+2, China refuses to pull back from Gogra, Hot Springs, Modem chips detected in ESS DS200 EVM in Antrim County, Michigan and more

Sree Iyer: Namaskar, this is April 12, 2021. Episode 139 of Daily Global Insights by Sri and Sree. I am with Sridhar Chityalaji and we are back on YouTube A channel. Sridharji Namaskar and welcome to PGurus Channel. How is your day going so far, sir?

Sridhar Chityala: Namaskar and good morning to everybody. The day started off, it’s cloudy. We had rain yesterday in New York. And yeah, it’s time bit of a Sprinkle, but you looking forward to a very exciting week of earnings and other stuff in the markets

Sree Iyer:  In our main points:

  • Portland ICE (Immigration and Customs Enforcement) building set on fire yesterday with officers inside
  • India & Japan are looking to hold their second 2+2 Ministerial Dialogue ahead of PM Yoshihide Suga’s proposed India visit. Suga is supposed to be on his way back from the United States
  • China outright refuses to pull back troops from Gogra, Hot Springs
  • Suspicious blackout hits Iran Nuclear site at Underground Natanz Atomic facility: Calls it as Nuclear terrorism
  • Top Chinese official admits low efficacy of Chinese vaccines, mull vaccine cocktails

In US News, the Portland ICE building was set on fire with officers inside. Sir, what is the latest on this and what is really going on? Who is responsible for this, have they determined it?

Sridhar Chityala: I think that it’s fairly clear that the Antifa protests seem to have resulted in the building being set on fire. Who exactly set the building on fire, I’m sure gonna take a bit more time. They would not be any conclusions until the investigation is complete and the investigations will be inconclusive but Portland as a city is witnessing tremendous riots, and it has been going on for a long time. And during the President Trump period, he tried to send the FED officials and you know and the National Guard to put the unrest but which was refused by the state. So the Law and Order can choose to continue to be a problem in the state of Portland. Now, what happened to the report? There’s no further report whether there have been any casualties as a result and whether the officers inside have been released or whether they were able to get out to safety that that news will probably come out a bit later in the day.

Sree Iyer:  And in Maryland’s Democrat-controlled general assembly on Saturday voted to override Republican Governor Larry Hogan’s three vetoes including the repeal of State Police Bill of Rights. When a Governor’s order is vetoed that means they need to have a two-thirds majority, is that true?

Sridhar Chityala: Yes, true. So, the Bill of Rights grants the police officers who conduct investigations and following due process before any prosecution occurs. So it gives them some immunity. The Bill of Rights gives them the immunity to proceed and to complete the investigations. The removal of the Bill of Rights effectively implies that they are treated on par with citizens whether that allows them to proceed and complete all the investigations remains a question mark. The Liberals or the left or the contrarians would argue that the Lacuna of this law is that the only police officers’ conduct investigations and police officers even found guilty of felon, felonies and other things figure out a way by which they can obtain immunity. So, therefore, there is no mechanism to enforce so, therefore, the Bill of Rights should be removed, that’s the view of the Liberals. 15 states have already incorporated the Bill of Rights into their statute, 11 more states are in various stages of doing it. Maryland just like Portland, there’s quite a number of cities New York, Minneapolis, Chicago Etc. They are all going through this new process. It begs the question. Where are we heading on the Law and Order situation, when the trust between the community and the police officers is breached in enforcing and maintaining a safe and law-abiding Society.

Sree Iyer:  And the New York Police Department says that in the period March 8th to  April 4th, that’s the last four weeks with a 95% increase in shooting compared to last year and the homicides went up by 60%. What’s happening in your cities Gotham City?

Sridhar Chityala: Gotham City, so the latest data that we have is that got published yesterday, which is to say, which is anecdotally we have been stating this that there has been an uptick in the crime rates. With this new influx of illegals coming into the city, whose credentials are unknown, it begs the question, is this going to further increase the surge in crimes? The most important message from here is about two weeks ago or a week and a half ago we reported in our Daily Global Insights that in New York, there was a five-fold increase relative to 2019 in terms of the overall crimes 1,500 in 2020 versus about 354. Low behold when you now go and look for the information. The information doesn’t exist. So, it begs the question of whether this information which we have captured digital images will exist a couple of days later? So this is a systematic pattern to withhold information and curate and publish content, which is contrary to the reality on the ground.

Sree Iyer:  Texas governor Abbott says Americans need gun rights more now than ever before now. This is the probable response to the Biden legislation trying to put more, you know curbs on gun control, isn’t it?

Sridhar Chityala: Indeed sir. I think what the Republican states are saying is the crime rates have increased, the borders have been opened up. There is a spate of illegals coming into the community. There are no checks and balances. There are no safety mechanisms under these circumstances guns are needed by people more from a safety point of view than before. Then, when you flip the coin based the Law and Order and enforcement. There’s no ICE right now. ICE he has been withdrawn in the Border States and the border patrol is very passive and it allows only people to get through. Fortunately, in Republican states, they’re still funded by the police. But in many other states police has been defunded which is we talked about what happened the last weekend in Chicago. So Texas has been raising its hand along with many of the other Republican states, which have been passing independent legislation that is counter to the executive order that Biden has issued

Sree Iyer: And looks like an email has surfaced where the White House is requesting people from federal departments to take a four-month off to go work on the Border. And this was reported by none other than New York Times.

Sridhar Chityala: It’s amazing. I don’t know. I have raised that question which is to say does this constitute some kind of sedition and treason because if you’re going to ask the government officials, they’re not supposed to be doing this type of duty to take paid leave and go to the Border and receive illegals. Where does it fit within the Constitutional framework? Can a president issue such type of request? It’s an amazing news item that got reported over the weekend.

Sree Iyer: The Department of Homeland Security is now investigating allegations of sexual abuse of migrants at a Texas facility. The DHS is also dusting off one of the plans of the Trump Administration, which was to construct the walls. So what is it that now happening differently that there is no other way? The way I see it, sir, there’s no other alternative to what Trump had suggested.

Sridhar Chityala:  I think the flood gates have opened and so we now have to figure out the waters have entered the United States. How do you kind of content this damage is what the focus ought to be rather than whether you build new barriers and we don’t know the numbers range, you know, quite big and it continues, the borders have not been closed? When are they going to close? When they start the process to complete the wall? Especially if you have taken ICE out there so enforcement and the CBP have been said borders are decriminalized and they are sending buses. So under these circumstances, there’s no mechanism, sir, in terms of stopping anything. So the agenda is very clear. The Democratic left-liberal agenda is very clear, which is at least based on what you are seeing on the ground. And of course, the statement that you just made which is, you know, which got reported over the weekend, the federal officials on paid leave going and making sure that these illegal fellows come in. None of this kind of exempt that there is any restraint or there is any enforcement or there is any mechanism to stall these unwarranted efforts to bring all these characters in especially in the middle of a pandemic and unemployment hovering around 7%.

Sree Iyer: New York City has siphoned off billions of dollars, I don’t know if it is New York City or the New York States, it has siphoned off billions of dollars of covid funding to illegal immigrants. This is the covid funding for citizens of the United States. So all these stresses and strains are happening. What exactly is going on? I’m really concerned sir.

Sridhar Chityala:  I think that the Allocated money to covid funding can be used by the state legislature through an act of law, you recall this discussion we had.  So, the New York State especially the has passed that they will apply this money to look after these illegals, that was allocated as part of the covid. So the use of funds is left to the discretion of the State the allocation of funds on a pro-rata basis is decided by the Fed. There were no caveats that were imposed. So that’s why the word is siphoned. And so they passed a bill in the legislature to use these funds.

Sree Iyer: The leaders like Brian Kemp and Ron DeSantis must be supported according to Common Sense conservative reforms and they can prevail against the radical left. So, this is Republicans now trying to come back up and say that okay, we do have some Governors who seem to have the right attitude to deal with some of the ongoing things, isn’t it?

Sridhar Chityala:  It is. The Republican Governors are raising their voice the general impression amongst the people the conservative values rationally applied can deal with some of these left-liberal left communist issues that are creeping in. And Clearly, DeSantis and Kemp are leading the efforts. Kemp’s legislation much contested, but he stood his ground and he made his case similarly DeSantis has been very vocal. They tried to take him apart in 60 minutes is come back very strong and as to why the rule of law has to be abided. So rather than sitting on the sidelines and making statements, the Republican party as a United entity should say here are our Governor’s showing the way the alternative way, which is better than what is being put on the table.

Sree Iyer:  Trump predicts that GOP will come back and take Congress again in 2022 and will be in the White House in 2024. Your thoughts, sir?

Sridhar Chityala:  Well, I think based on all the current trends and indication with money 95 million that he has raised. They seem very confident. You know, the difference is only about nine seats that separate between Republicans and Democrats in the House is an even tie in the Senate. So the chances are pretty good, out of these nine Republican Senators who are sitting in the middle of the wall, like for example, Rob Portman from Pennsylvania, quite a few of them are not re-contesting the elections. There is a possibility that both Senate and House may be taken back by the Republicans.

Sree Iyer:  And I want to bring indulgence to talk about a breaking news item. Viewers, we have been talking about this one specific County in Michigan the Antrim County. Now in Antrim County, there were two types of voting machines used the Dominion as well as the ESS-DS 200. Now, what has come to light is that in one of the submissions of an attorney Deperno, in an ongoing lawsuit that DS200 had Modems and it could connect to the outside world using a SIM card using 4G technology. With your permission, sir, let me just put up that drawing and can talk after that.

The DS 200 is a ballot scanning device by-election system and software and you can see on the screen the Telit LE910-SV1 chip that has been installed on its motherboard. Now you use a SIM card and then you can essentially connect to the outside world. Now there is also in the submission and I looked at it in some detail.  We’re providing you with the link towards that. In that submission, I looked at what had happened and there are actually transactions carried to show that the modem actually works, its IP address what site was going to go out why it was doing so there is more data submitted that this particular machine was able to be connected to the outside world. The interesting thing here who owns this chip is Telit. Telit is actually incorporated in London and 15% of the Telit it’s called Telit telecommunication TLC, it’s owned by a company called China Fusion Capital and has a board member called Yuxian Yang. This person is a multi-millionaire. He is been part of many such ventures where there is a partnership of the Chinese party perhaps in Shell form or whatever you want to call it. So there is information that there are some entities I’m not saying anything more. We’re not saying anything less. There are some entities with interests in China that are part of these voting machines. And what does this machine do? It scans, what it does is it scans the ballot paper and then it will tell you which way the thing votes, whom to cast a vote because as much as the county officials have been saying it to the human error, the more people dig into it, the more information is coming out. Stay tuned we’ll have more data for you.  Sir, if you would like me to continue I can get back to the main programming.

Sridhar Chityala: Let’s get back to the main program, please. Thank you.

Sree Iyer: Again the POW (Prisoners of War) missing in action, MIA a flag, once again is flying over the white house after a nearly one year absence, why was this taken off sir?

Sridhar Chityala: There was some issue that propped up during the Trump time. It was to have been taken out temporarily and it’s a lapse in judgement. Anyways, the flag is back bi-partisan on both sides. It is a recognition of people who lost their lives in the Vietnam War. So therefore the flag is back.

Sree Iyer: and the next two news items have to do with Israel,  Pentagon Chief commits Ironclad commitment to Israel and Suspicious blackout hits Iran’s nuclear site at the underground Natanz Atomic facility. Netan calls it an act of nuclear terrorism. As always You know Iran says that it was testing a faster centrifuge that would have made in the enrichment of uranium go faster and they have a specifically named Israel but, all fingers are pointing towards Israel. What are your thoughts, sir? Has Israel responded back to this or have they said anything. Do you have any idea?

Sridhar Chityala: I think the reports in Israel media around potential kind of Cyberattack Israeli IDF never report any such incidents. Israel government never endorses or comments or make any statements on such incidents. Israel has always been making its stand very clear. It is not going to allow any nuclear Iran threatening existence of Israel. So it’s conceivable that it could be a Cyber-attack. The fact that it has been taken out, affects the deep understanding and intelligence that is prevalent. On the Iranian side, they equally seem to be well organized and well prepared and you know, they have the Russians they have the Chinese and the other North Korean Supply. So while this is going on there, there’s also intelligence now that they have a faster centrifuge that can enrich uranium even faster. So the question therefore is, you know, what’s coming next in Iran?

Sree Iyer: And the United States Secretary of State Blinken say is that he will not commit to boycotting China Olympics. So this is again, I’m not clear when you say will not commit to boycotting the means you commit to attending China Olympics. What do you make of it sir?

Sridhar Chityala:  Ambiguity is the norm of policymaking in the Biden Administration. We probably have seen five different statements starting from Biden to the policymakers within the foreign policy team or state and then we had the press secretary making one statement and then withdrawing very quickly than the state department issuing a statement which is to say that they would work with the others too by God and then pulling back now, Mr. Blinker himself saying right which is to say I’m not yet committed to saying that we will boycott the Olympics. Mike Pompeo has been emphatic that you cannot attend an Olympics in a nation that has got genocide in its hands. So he’s been very explicit and clear. So, we are not going to have a President Trump type of State policy announcements coming from the Biden Administration, consistent with Biden theme there will be a daily state of flip-flops.

Sree Iyer: In the Philippines, the US and the Philippines officials discuss concern over China’s ships. What are supposedly fishing vessels don’t seem fishing vessels after all, isn’t it?

Sridhar Chityala: I think we put up some satellite images and maps. They seem to be more of the patrol boats of the Chinese PLA rather than the fisherman going around Scarborough Shoals and the reefs around that area. So I think the Philippines is another point of vulnerability. There were some issues between the Philippines the USA and they seem to have ironed out the differences. They believe that the Philippines is saying that, ‘We need coordinated action and if you are going to help us we’ll take it. If you’re not going to help us let us know because we have to defend our territory.’ Fisheries is a very important business for the fishermen of the Philippines and that is their territory. The Philippines was one of the few Nations that took this issue, to the International Court of Justice and they got a ruling in their favour.

Sree Iyer: And China just ignored it.

Sridhar Chityala: Yeah. China follows only Chinese law.

Sree Iyer: Kyrgystan has a referendum and that grants the premier Japarov full power rather than Parliament. So he’s doing another Putin.

Sridhar Chityala: Well, he is. I think it’s quite amazing that the country has given the mandate to the president to have absolute power over the parliament. Some of these Russian old Federation States still follow their old communist and socialist type of model.

Sree Iyer: Russia will face consequences if it acts against Ukraine. Remember, this is the ongoing saga that we’ve been reporting about how Russian troops have been building up, on the border of Ukraine. This was triggered by Ukraine stopping water to Crimea, which is now a Russian state. Russia is again cyber rattling even more. How do you see this play out? Do you think the United States is going to jump on Ukraine side?

Sridhar Chityala: No, you have seen this before what happened in Kenya. They will just watch passively from the sidelines. They will make all the rhetoric and statements and then the situation will deteriorate to an extent. Remember, you also have this Nordstrom pipe from Russia going into Europe. They have not done anything about it either and Europe is very much reliant on Russian gas. There are strategic levers on the Russian front and that helps them to effectively use those levers.

Sree Iyer: In other news, China relies on Facebook and Twitter to counter Uyghur’s international criticism. Is China using these things to sponsor stories that are supportive? What are your thoughts, sir?

Sridhar Chityala: What is happening is that there is a massive coordinated Global Information campaign that is a disinformation campaign that China is engaged in. China has decided to engage in a campaign to our to make sure that every international criticism is effectively rebutted. So now they have Facebook and Twitter as a platform. They can recruit people all around the world and ask them to launch the campaign. So that is what is going on. Because this genocide and the human rights abuses in Uyghur is the biggest topic that confronts China as a unified activity from many countries around the world. This could also potentially be an embarrassment in terms of a boycott of the Olympics. So they have to commence this disinformation campaign to tell the world that China is being unduly targeted. What better way than using Twitter and Facebook!

Sree Iyer: India and Japan are looking to hold their second 2+2 ministerial dialogue ahead of PM Yoshihide Suga’s propose India visit. Yoshihide Suga is expected to visit India on his way back from the United States, isn’t it, sir?

Sridhar Chityala: It is. It is. And this visit has been well planned and it’s very strategic and he wants to discuss broadly the South China security as well as the Indian Ocean security with the Indian team. The fact that 2+2 has been called and an advance preparation meeting has been called reflects the importance that Japan places on this specific meeting. But I also hear that the covid situation in India can potentially cause a delay in the meeting between the two prime ministers. At this stage is unclear whether the meeting is deferred or it is on course, but the preparatory  2+2 meeting is well underway.

Sree Iyer: China intends to observe build a mega Dam across the Brahmaputra. Viewers, you would have seen a video when I had a hangout with Lt General Ravishankar about the whole Brahmaputra River from where it starts and all the way down to the Bay of Bengal and all the hazards that it poses. So, please do look at that. And this is basically an update on that but we have analyzed it in great detail. It is a potential Eco and Seismic disaster move, but China likes to build dams and they are planning on going ahead and doing this anyway. This is inside what is called Eastern Tibet. We are going to refer to these things as what are. This is occupied territory by China, Eastern Tibet. That’s where they are going to be building this. Sir, there is a place where the Brahmaputra descends about 2500m, so the decline is very sharp that’s where they are planning on building this electric power plant, sir.

Sridhar Chityala: There are two specific issues. We covered this as well in one of the expanded programs around the Brahmaputra plus, especially around the Mekong Valley and the dams that are coming up and the consequences. Within that context, we have covered this. There are 2 specific issues with regard to the dam. One, this is in a highly seismic area. So potentially it can be a catastrophic disaster for all the downstream. Number one. Number two. It is in a very sensitive ecological area with the Gorges around 9,000 feet above sea level. So these are unusual activities that are happening. What are the strategic implications for China to construct something like this? Is it to drain and put silt and is it to potentially trigger some kind of activity, we discussed it again during that specific session. Now the environment and Seismic here is the truth. We are talking about clean water, green energy and so on. Not one institution in the world, none of these Socialist, Communist, Fascist groups come up with these kinds of statements when you have some roads and Metro in Mumbai or when you have some fracking, and Keystone Pipeline and South Dakota, what you call gas Fields being leased, none of them wants to talk about this because probably China has funded and taken care of these people. You want to talk about the environmental and eco-disaster then this is the dam. And where are they doing it? Zillions of miles away from China. What’s the population of Tibet? What is the captive capacity that creates and they are going take this all the way back into Mainland China? Some of the activities that China is engaged in is just not acceptable by any international law and standards.

Sree Iyer: China outright refuses to pull back troops from Gogra and Hot Springs also is a friction point in eastern Ladakh. This is the outcome of the latest round of talks between India and China and there are now proposing another round of talks. So these talks will keep on going, but this Gogra area was occupied in 2013 under the UPA regime, sir.. So to say that Modi lost it is probably not correct. However, if the incursions has been done by China, they have finished a lot of settlements there, how do you see this playing out?

Sridhar Chityala: Well, I think that first and foremost, we should not look at it as the year 2013 or 2019. You should look at it as an occupied territory like the LAC and Aksai Chin and so on. It’s an occupied territory. India has now got defensive measures and mechanisms in place. So my view is that India should take very very strong sand and China is engaged in brinksmanship. They came prepared, they are not going to move. So India should say, okay get out, we have nothing further to discuss, we’ll do what we need to do to get back our land after all it is our land. That’s what India’s position should be to defend its Sovereign rights of the land that belongs to India. So this brinkmanship will go on. They will see who blinks and India has now one of the most experienced combative policy as well as security as far as China is concerned in terms of dispensing and dealing with these types of issues ever since the Doklam incident has occurred. I’m sure India will find its way out of this impasse.

Sree Iyer: Dawood Ibrahim’s top Lieutenant Jabir Moti is going to walk free from the UK prison because the United States has withdrawn an extradition request for him. So he’s probably going to find his way back to China and there will be one more to the suicidal terrorism squad, sir.

Sridhar Chityala: Oh, he’s going back to Pakistan. He’s going to be released and he is going back to Pakistan. There is no other explanation other than just that Biden Administration is rewarding their allies who stood by them. That seems to be the trend with regard to this gentleman who is going to be released. The Trump administration had initiated the process for extradition and then enforcement everybody knows about Mr Dawood Ibrahim as an internationally wanted terrorist. Now his associate is being released and that makes it even more intriguing in terms of the policymaking of Biden.

Sree Iyer: India’s exports surge 297.2% in the first week of April building on March 58.23% surge. So unfortunately now because of the new surge, it may slow down again, but the numbers are very impressive sir.

Sridhar Chityala: The numbers are very impressive. It is across a spectrum of activities. The PLI programs are working. Some of the exports are in the mobile, auto, the electrical manufacturing areas. I think the micro reforms that were promulgated as part of the budget seems to have its positive impact. If India has to tackle covid, that’s what stands between itself and achieving this 12%-13% growth which brings it back to that 3.4-3.5 trillion into that trajectory. So if India manages its covid, we will begin to see more uptick between exports and domestic, the domestic market is ready to explode just as the  United States because of the pent-up demand. People are willing to travel and spend, they are all fed-up sitting in their homes. So it’s on the verge of its break out but it has to address covid.

Sree Iyer: In Global Covid News, a top Chinese official admits low efficacy of Chinese vaccines, and that China is mulling vaccine cocktails. So this is significant news because after the covid spread, vaccine diplomacy is taking front and centre stage and India seems to be more successful than China in at least coming up with vaccines that are effective sir.

Sridhar Chityala: Yes, we knew that the efficacy based on all the empirical data is around 55%. That’s the number that we are seeing, 55%-56%. Yet they pushed these vaccines to a number of countries. Probably, it is dawning on them now that the accelerated cases, probably that is also happening in China, is a result of that and so they are making themselves, somebody must have leaked the information. You can have the Chinese admitting that we have committed a major blunder. Some information leakage has happened and which is why we have a news item, which says that they are looking at alternative models to the current dispensation of the medicines that are coming out from there.

Sree Iyer: India reports 1.52 lakh that is 150,000 fresh covid cases. That is the highest single-day tally and India also bans anti-viral drug Remdisivir exports as the coronavirus rages on. So, Remdisivir is medication for covid, right?

Sridhar Chityala: Remdisivir is antibodies and I have taken Remdisivir when I went through this covid exercise, which I am just getting out of, it’s a very very effective protocol. It is injected through IV. They build layers of antibodies, which fight this covid virus. Because there is a spurt in cases, India needs to use its resources to meet the internal demands rather than also augmentative exporting. Remember this was one of the controversial things when President Trump took off and it has been effective and it is being actively used even in the United States as a protocol.

Sree Iyer: I’m going to have a separate hang out with Mr RVS Mani on the smuggling of India’s vaccines as well as medication into Pakistan. It has now become a racket and this is happening through a couple of border states as well as allegedly from Maharashtra. We’re going to have a good 360 degree look at the vaccine implementation and accountability as to how things can improve. Viewers, please watch out for that video. It will be coming shortly. So nearly 40% of Marines are declining covid vaccine. So why are people still hesitant, sir? You have taken it. I’ve taken it. Yeah, there are a few side effects, so what?

Sridhar Chityala: This morning breaking news is that people who have taken vaccines have a higher propensity to catch the variants relative to those who have not taken vaccines. When you keep on pushing this type of data every day it creates an element of fear. Number one. Number two, now we have 8 incidents, we reported Colorado, Maryland, like that there are about eight incidents where there are issues around these vaccines and people who do vaccines in these eight sites. So all these are acting on the minds of the people which is to state, ‘Am I better off not to take the vaccine and used my natural immunity to fight it or am I to take it and face the consequences. So there is a segment of the population that is still sitting on the bench in terms of taking these vaccines. That’s the only explanation that I can give. I have spoken with quite a few people on a sample and people feel that they are evenly divided between taking or not taking the vaccine. I took the vaccine and I’m advocating that the vaccine should be taken. The vaccine is a great deterrent. You don’t have any other mechanism to fight. There may be consequences but having a vaccine is far better because you have antibodies within your system to combat especially if you have completed two vaccines of any one of these, Pfizer, Moderna, then you have the Indian variants, or the Russian sputnik etc. I know there have been issues around J&J. There have also been issues around at AstraZeneca around the clots, but I’m sure they will address that but by and large, these other vaccines have been fairly effective.

Sree Iyer: In markets, FED chairman Jerome Powell says that the economy and job creation are on the cusp of ramping up. Your thoughts, sir.

Sridhar Chityala: The pent-up demand and the eagerness for people to get back and do things is a reflection that we are ready to move. The states that have loosened the laws around the lockdowns have witnessed a spurt in economic activity. That is why we are expecting very high growth in the United States this year. The growth can be anything from 6%-8% and some of the private markets predict the growth can even be as high as 8%-10%. The FED itself originally estimated a 4.2% GDP growth and they revised it to greater than 5% GDP. So, therefore, there is pent-up demand, there is plenty of cash in circulation. Plenty of cash, this is the payoff that is coming out. People have to spend. These are the covid direct payments. Close to $620 billion is going to be paid out up to about June and now they’re contemplating extending that to almost September. Then we have the PPP programs, which is another $350 to $400 billion. So there’s plenty of money that is going to be put into the system in a single narrow period of time which is the next two quarters. So we’re going to see the spurt in activity as a result of that.

Sree Iyer: For viewers, if you send in your questions, unfortunately on this segment, we cannot take them because it’s a very tight segment. We have already in our 42nd minute now.

Sridharji, as always it is a pleasure to have you sharing your thoughts on what’s happening around the world. We will be back again, tomorrow bright and early at 5:30 p.m. IST, and we will all see you soon. Namaskar.

Sridhar Chityala: Namaskar and Thank you and have a wonderful week and have a wonderful day.

1. Investigators for Attorney DePerno Reportedly Discover Modem Chips Embedded in Michigan Voting System Computer Motherboards
3. https://letsfixstufforg-my.sharepoint.com/personal/patrick_letsfixstuff_org/_layouts/15/onedrive.aspx



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