Is the Nsel default confirmed? well, well…

Reminds me of an old Akbar and Birbal story. Akbar had a favorite White horse, and he used to play with it every day. It had a special stable of its own and also had a horse care taker – exclusively for that white horse.

One day Akbar said ‘if anybody tells me that the horse is dead, I will hang him’…

The horse keeper was very scared….of this but did a good job of looking after the horse.

One day the horse died. The horse-keeper rushed to Birbal and told him the whole story. Birbal asked the horse keeper to leave the kingdom for 2 weeks..and then went to the king..

Birbal: Good day king!

Akbar: Good day Birbal

Birbal: I just came from the stable side….

Akbar: Tell me…what did u see…

Birbal: Your favorite horse was not eating anything…

Akbar: Oh!

Birbal: it was not drinking any water,….it was not moving its legs,….its tail…eyes….

Akbar: IS IT DEAD?

Birbal: Yes, Your Highness, but I did not say it….you did.

So is the National Spot Exchange dead?

Well I know there was an exchange which –

was dealing in commodities in an unorganised market

had no regulator

no oversight whatsoever.

Each contract to raise money was touted as ‘risk free’. I was one of those lucky people who did not succumb to a ‘Risk free 13% return offer’….lucky me!!

The first part of the default has happened…hopefully priced into the Sensex and Nifty..

 

 

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  1. I think its

    ‘if anybody tells me that the horse is dead, I will hang him’
    instead of
    ‘if anybody tells me that the horse is dead, I will hand him’

    Cheers

  2. what does happens to who invested in e-Gold units and still holds in its demat form? just to know ,frankly not understanding what is happening in NSEL.as such , thought to buy them , but could noy.

  3. Yes, absolutely right. Just to say that..

    If this happens from starting of the Exchange, then why no any action taken against him. And also no any comments or reports shown by media about E-series product.

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