Wednesday, November 21, 2012

What a joke !!!!

It turns out Mr.Subbarao and others in RBI are not that clever as we think.

Yesterday they sent a circular to banks not to lend to gold and the reason given was is that it seems that gold is used for speculative purposes. One could not control laughing hearing this comedy statement.

If RBI is really interested in controlling speculative money, it should bark elsewhere. Yes. you got it right. Real estate is the speculation which causes our economy to nosedive. RBI did not have the courage to take on the mighty.

RBI is probably worrying about the effect it would have on state run banks and others. But the truth is truth. We have to stand by that.

Mr.Subbarao , the open norm in any real estate investment is 30% of black money and further due to our 'so called monetary loose tightening; already real interest rates are in negative. Instead of globally controlled gold rates why not you try to control the speculation in real estate? My mango mind says that is easy and that is really needed.

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