Wednesday, July 31, 2013

Thank you Dr.Subbarao

Even though we criticize Dr.Subbarao for his actions as RBI governor we have no doubt that he is good at heart. He wants to help but it is unfortunate that he is not able to withstand huge pressure puts up by the
corrupt political bosses, mafia corporates, pimp media and brokers.

However it is confirmed that he is not get extension for another period as confirmed by Mr.P Chidambaram Minister for share market and real estate welfare also holding additional charge of finance ministry. As suggested by Mangoman few weeks back, it is good that Subbarao is moving on. Let us analyse few things now.

1.  Already finance ministry started looking for scapegoats to put blame on for the coming economic debacle. Subbarao cannot escape and there are high chances that he will be squarely blamed for the mis management. Better jump out of sinking ship as soon as possible.

2. I like the time bomb he planted in the RBI in the past 2 weeks. That is class act and I think he knew that the government days are numbered and so it is time to show some spine. By planting the time bomb ( reducing repo limit for banks), he made sure automatically interest rates would go up whether govt likes or not.

The effects of the time bomb will show itself in few days time. I mean it.

Tuesday, July 30, 2013

This is called Checkmate Mr. P. Chidambaram

Today a strange thing happened in Indian Financial Markets. After RBI's monetary policy, along with equity markets Rupee also crashed. This is ironic and hope will be an eye opener for RBI and finance ministry which manipulates RBI from the background. It is sad that RBI becomes a puppet and now humiliated in front of the whole world.

This unfortunately happened after RBI's supposed monetary tightening in the form of Reduction in Repo limit last week. When RBI announced the measures the Rupee was trading at around 59.60. Now today it is decreased and at 60.41. From seemingly unlimited Repo limit to now 37000 Crores RBI has reduced the liquidity in 2 tranches. Even yesterday RBI MSF window saw huge drawing from Banks at 11% and odd. Even with all these, Rupee depreciated today which is very bad for the credibility of the RBI.

RBI today made a mistake of talking in government's voice. Mr. P. Chidambaram the minister for real estate and share market welfare who is also in-charge of finance ministry used to tell every week that the interest rate will be cut very soon and often tells that whatever RBI is doing to strengthen Rupee is temporary. That is for political reasons. He knew that Indian Economy is headed for collapse.  RBI need not have spoken in that language. IT IS CREDIBILITY CRISIS AT RBI.

Now if RBI went back on Repo limit measures it would be considered as easing and  if that happens the market will punish Rupee. Otherwise also now the interest rate is clearly hardening. It is time for RBI to raise Repo rate and CRR to 1 percentage each. The failure of IIB ( inflation bonds) should be a eye opener for RBI.

Now if government still wants to help and save brokers, then it is running the risk on huge economic collapse. Better late than never.

Saturday, July 27, 2013

What a man?

SBI chairman goes ballistic against RBI about the liquidity situation. He said that RBI could have raised interest rates instead of choking liquidity. Now let us dissect this idiotic statement.

1. First SBI chairman says SBI liquidity position is comfortable.
2. Importantly the same person says until last week, a rate cut is needed. In fact he shouted more than the corporate mafia shamelessly. But now why this U-turn?

I have already written about this comedy banker few months back. Search in this blog somewhere about his chamchagiri to the finance minister.

In my opinion his influence on RBI as a largest banking group of the country is huge and he should also be fixed responsible in the coming GREAT INDIAN ECONOMIC COLLAPSE.

Friday, July 26, 2013

Mangoman is very happy

Signs are clear.

Signals are obvious.

Oriental Bank blinked first. They have raised interest rates first. All the other banks will follow suit. I am very confident now that real estate crash will become reality.

RBI's hands are forced to act and tightening is a reality now.

I love to see speculator's Ass whipped in near future

Wednesday, July 24, 2013

There is a pattern :)

When Narendra Modi goes ballistic RBI acts for the first time on Repo Limits.When CNN-IBN says congress is screwed due to inflation, RBI acts for the second time in Repo Limits and CRR.
Is RBI is a political Institution? This is my first question.

We are talking about this farce of allowing banks to do easy business for quite some time now. It is ironic that RBI has found out this all of a suddenly and started tightening. I am not sure whether this will work or not? Given the fact that banks Repo borrowing touched as low as 40000 Crores in recent days. But this we need to wait and see.

Another worrying factor is that whenever RBI wants to rein  in the liquidity, it must focus on the language it uses. If they give an indication that these measures are temporary in nature, then the markets will not care a shit about the measures as they would think these measures are anyway temporary. So the anticipated effects of liquidity wont happen. RBI should ask the bloody corrupt politicians not to open their ugly mouth about these measures. If the politicians including the Prime Minister says these measures are temporary, then why bond market or forex market should react to these measures?

Finally these half hearted measures are laughable. RBI should directly raise the Repo if it is serious. Also it should come out clearly saying that it is not about curbing forex speculation. It is about curbing liquidity. Otherwise the comedy farce will continue.

Monday, July 22, 2013


Car sales continue to tumble...
Broader market are getting a beating even though the index is managed.....
The FII are continuously selling in bond market AND cash selling in share markets.....
The interest rate is hardening....
The rate cut chorus is vanished and brokers and corporate mafia are begging not to increase rate if not cut.....
currency is adamant at 59.50 inspite of RBI dancing...(cabaret dance)...RBI's new regulation are very interesting and hilarious so to speak....
The gold smuggling increased big time and government is not at all bothered because they want to see the printed CAD to be less and dont care a shit about actual savings rate collapsing.....
Inflation is not at all reducing.....


Sunday, July 21, 2013

Gold import myth busted

The article says it clearly...

And just see the sheer number of people crying below it in the comments section in the article..that says the story of middle class which is being crushed by RBI and Government from both sides...

God saves India.

Extension for Subbarao????

some news about extension!!!!

It is better to go Mr.Subbarao. If you cannot withstand government pressure what is the point in getting extension and staying in the hot seat  only to see the economy collapsing day by day?

If the collapse comes after few months atleast you can say ' it was ok until I was they are not able to save it' . So what say?

Friday, July 19, 2013

Chidambaram's slaves in RBI needs basic economic training

RBI panicked and rejected the bids for both sale & purchase of auctions in this week. When it signals monetary tightening for rates, it should have known that bond yields will increase. This is basic economics. I think they would have got some message from FM and FM would have got pressure from Indian Corporate Mafia.

Finally I think these jokers will see the downgrade very soon. I hope that happens as early as next month. Basic economic says you raise interest rates to save domestic currency.  But RBI, India's celebrated institution which is reduced to a sorry joker off late, is trying a novel method even Ben Bernanke would be envy. If RBI ploy had worked then it is lesson for all the central bankers to learn.

Already RBI officials made all the banks to close their short positions on Rupee/Dollar trade. Again when they say our aim to curb speculation on Rupee on RBI money, no fool will believe this. They should openly tell that we need to raise rates to save rupees. Otherwise allow Rupee to depreciate. dont be a comedy piece. People still look to RBI to save the country.

Thursday, July 18, 2013

RBI thoroughly humiliated

What a mess RBI has created?

Yesterday they wanted to drain the liquidity. Today they increase the liquidity. They just want to keep the nifty index up. Even they donot care about Rupee. Rupee did not move an inch when RBI announced half hearted measures. Nifty moved  a lot and poised to move a lot more tomorrow.

Dont be surprised to see a ban on short selling in Indian Share Markets until the next general elections. Government on right path to take this country to destruction. The way they do it  is amazing. Even opposition is not questioning all this. One feel very sad about RBI and so far nobody has stooped to this level as Subbarao has done.

Whether all the banks ganged up togeather  ( with governments tacit support) or RBI's ineffectiveness! we dont know. But country is screwed. Wait and see

Tuesday, July 16, 2013

Whom we are trying to fool?

Now RBI and Government has come up with a smart act to hoodwink mangoman of the banana republic. savers are being royally screwed.

Idiot mangomen without knowing what is hitting them preparing excel sheets which shows the appreciation of his house property ( 25% per year :)  When the tide goes back we will see who are all swimming naked. The mangoman are royally raped by the government and RBI yet again.

Without shame and no fear of getting arrest for hoodwinking people, Chidambaram yet again asks people not to buy gold. The opposition is not doing anything either. Eventhough Modi raised his pitch yesterday but it is not enough still.

RBI and Government are thinking they have done something. It may help for a day or two. But our problems are difficult to address unless we hit the right spots. Gold import has reduced only for this month and expected to raise again as we dont have any other saving instrument in this negative interest rate regime. Without touching Repo rate government is also tellng their intent of raping savers continnously.

Car sales tumbling
Real estate deals are not coming
IIP is in minus
Inflation is going up

Where are we going?

Chamcha singh and Rangarajan are giving bad hope. It is better Raghurajan can resign to save his reputation

Time for Chidambaram to come on TV

Before going to today's bashing, please read the blog post of Mr.Deepak here. According to him, RBI has raised he interest rates.

But now do you know whether banks are continuously borrowing more than the 75000 Cr set by the RBI? I mean how it will hurt the banks unless otherwise they are having to use MSF on daily basis. What is the daily borrowings whether it is crossing 75000 Crs consistently?

So far these bankers were doing easy money business. Get some cheap money from RBI which is forced by corrupt UPA government and lend them to real estate brokers. When the repayment term comes they replan the loan repayment until idiot mangoman takes these loan as housing loan or whatever bull shit they call us. Those days are easy money are over. Now it is time to Indian bankers to do business as per the book. Identify the business analyse the margin and then lend. Since now most of the Indian business man turned brokers and not ready to accept a margin of anything less than 40% it would be a tough ask. Otherwise what can define that almost all top business house in India dabble in real estate?

Ok. Now what?  Since interest rates are going to go up it would be very interesting. Fraudsters who are ready to sell even their wives for a rate cut are going to get crushed in this financial sunami unless they understand what is real business is.

It is sad that guys like businesses of Ratan Tata who never comes on broker channels to beg for a rate cut, is not doing that good. His tata steel and tata motors are not doing good. I feel for it. But that is what life it.

Another interesting aspect I have observed yesterday wherein WPI inflation figures are released during market hours as it is perceived to be good news for market. Is it not amounting to fraud in government for they said they are going to release all these ( gdp, inflation and iip) after market hours?

Anyway Chidambaram will come on TV and will tell that what RBI has done is just a eye wash or hog wash. It is just a ploy to shore up the currency and bankers need not worry that the government and RBI will find some innovative ways to give money to real estate brokers supported by banks. Am I right?

Sunday, July 7, 2013

Down and out.....

Down and out is not referring the rigged up Indian Markets even though Mangoman love to see crash in the Indian markets.

The vegetable prices gone through roof. The budget of ordinary family is affected  . Still government is supporting Real Estate brokers community by not increasing the rates. Sadly they are looking ways to cut rates further. RBI is also singing the tune of government which is very bad for the country.

I remember RBI Guv. Subbarao said he will have to raise rates if Rupee falls further. That was when Rupee was trading at 55-56. After that Rupee has depreciated more than 10%. I am wondering what constitutes a fall in Subbarao's dictionary?  He is one of the biggest disappointment. He should raise to the occasion.

Either way when Monday market opens RBI has a fight in the hand. I love to see Rupee touching new lows that day.  RBI dollars reserves are going down fast as per the latest reports.As I have been maintaining RBI can save face if they do what they have to do on their own instead of being forced by the basic laws of economics.

Monday morning without no doubt chamcha singh ( Montek) will talk about bottoming out. What a cruel guy he is?Most of the vegetables are costing more than 100 Rs per Kg. But when I looked at the inflation barometer our RBI and government follows it says less than 4%. What a cheating?

But with all this, mangoman has to support the Food Security Bill. Yes. For country of this size, subsidies are important and I donot believe in the paid economists ( swaminathan aiyar and other BJP supporting analysts) view about FSB. We have larger issues to address than the subsidy which helps vast majority of the people. Share market is not the only place where people invest. Less than 1 or 2 percent invested in Share markets. If India pricks the Real Estate bubble it will help many crores of people to come out of the clutches of Inflation. But BJP is careful about not talking about that. Why there was no agitation planned by BJP about Real Estate Lobby? why no agitation about inflation? So opposing FSB is not something Mangoman will support.But Mangoman also wants congress to lose badly in the coming election.

Friday, July 5, 2013

US 10 year treasury at 2.704

Will it cause a crash in Indian share markets. Let us see what can happen Monday.

9.15 AM  Indian Markets Tank by 2-3%. Because already Brazil markets tanked by 3% until now. The dollar index is at 84.70 and US Bond mentioned in title is at 2.706. It makes sense to FII to withdraw their bonds.

10.00 AM  Real Estate and Share Markets Welfare Minister Chidambaram will come on TV to convince traders and FII.

10.30 AM  Arvind mayaram and Raghuram rajan willl come on TV and put the blame on US currency.

11.00 AM chamcha singh will come and predict the bottoming out of Indian economical slump for 100000000th time.

11.30 AM Rangarajan will talk in CNBC and will gently nudge RBI.

Wednesday, July 3, 2013

Where is Chidambaram?

Mangomen of Banana Republic were shocked today.

Inspite of more than 1% fall in indices, the 'Real Estate and Share Market Welfare' minister P. Chidambaram did not come on TV to assuage investors and traders. It is to be worth noted that in addition to 'Real Estate and Share Market Welfare' ministry Mr.Chidambaram is also incharge of Ministry of Finance.

What is RBI's mandate?

According to Indian Finance Minister RBI mandate is

1.  Allowing the inflation to flare up to more than 10% for continuous 5 years thus breaking ordinary citizen's backbone

2. Reducing rates to benefit corporate mafia.

3. Appeasing real estate sector by
       a) By reducing rates every month
       b) allowing them to raise money from foreign countries and speculate
       c)  turning a blind eye into their black money transactions

4. Printing money whenever government wants to spend

5. Asking traders to close their forex positions during currency volatility (most hilarious of all)

6.Should help share market nifty index and sensex at elevated levels

7. Not to hurt foreign investors

8. Allowing all public and private sector banks to bubble up the real estate sector by not following the norms of auditing in housing these housing loans monsters are threatening the banking sector stability

What else minister??

Better late than never

Finance Minister at it again. He intimidated RBI to cut rates by telling that 'RBI should understand their mandate in the broader sense'. What a irresponsible statement this has been from the Finance Minister of a country which is struggling to avoid a financial sunami of unimaginable proportions.

Please also read this....

Shamelessly the UPA government is trying to buy time until the elections by threatening ( almost) RBI to cut the rates. RBI is obliging so far. That is altogether another issue.

I was shocked to read that we continue to pay huge to our oil imports. Even though they oil commodity prices cooled off. An article in DNA says Rupee has depreciated more than 51% than the time when oil was trading at 145 per barrel. That means we may more than what we were paying to oil few years back.

But strangely we attack gold. That is soft target and inspite of clearly knowing that people buy gold to hedge against killer inflation which caused by RBI and Government, these so called intelligents blaming people.  The opposition is not raising any issue over this gross mis management of economy which baffles me.

Better late than never. A life of few real estate agents is not important than a country. We have a raise interest rates by atleast 2 percentage and depreciate Rupee atleast upto 70 per dollar. Unless we do this, we all will go to dust.

If we dont do it on our own we will be forced to take these measures anyway.


2500 crores recovered in mumbai most probably belongs to some powerful person and it is anybody's guess we will never come to know who is behind this? This case will be closed in due course and we mango idiots will shamelessly live in this country......

Tuesday, July 2, 2013

car sales collapsing again in June 2013

Needless to say, people are feeling the pinch.

Car sales nosedived for 8th (7th ?) month in a row.  But the 'ready to sell wife' for a rate cut lobby is surprisingly quiet.

May be the will become active around July 30.  Let us see