Look at the financial mess the Government of India is in!
Thanks to some traditionally told lies, Governments all over the world have far, far more debt than what they can honestly repay. Big large countries like the US have already cheated the world by making their currencies worthless.
Look at what Mamta didi wants! A moratorium on the interest which she owes. If I were a banker and had a client who could not pay interest, dammit, it would have been an NPA long, long ago.
None of the Indian states will be able to repay the loan. The Center should consider itself lucky if the states can pay interest on the loans regularly. Most of the state governments spend almost all their collections in just the day to day expenses – salaries, electricity,…and day to day maintenance.
What about the government of India? Less said the better. P Chidambaram, Manmohan Singh,…..etc. KNOW and understand what is happening.
Internationally speaking Greece was just the beginning…most of Europe, US all are in a denial mode.
How do the biggest borrowers cheat the lenders? Simple, by printing notes and telling you ‘This is Rs. 100′ – and a fiat that you have to believe it. Sadly for Greece it is not allowed to print Euros (frankly I would not be surprised if they are printing it – desperate situations call for desperate solutions, right?)
How has the US cheated a big lender like Japan? Simple by telling them that the US $ was worth 350 yen. Then printing so much of the $ that soon you might say ‘hey here is a US $, gimme an YEN’!!
If a non government person had done this, it would have been called a fraud.
I do not think there is a better career opportunity in organized crime!
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