American short-selling institute Hindenberg Research Report’s damning report against the Indian billionaire tycoon Gautam Adani and his companies rocked the Indian political and economic scene last year. They revealed how Adani uses his obscure offshore companies to manipulate India’s stock market. In the run-up to the Indian parliamentary election, the opposition INDIA bloc effectively used this expose of the nexus between the Modi government and Adani/Ambani coupled with the corruption issue of using electoral bonds to fund BJP’s voting manipulating machine as part of their campaign. As a result of the revelations of these scams, and many other serious issues like raging inflation, historically high unemployment, and public exam paper leak scams, the Modi government lost its majority in the parliament. Modi formed a coalition government using the support of Bihar and Telangana chief ministers Nitish Kumar and Chandrababu Naidu. Still, both Modi’s aura and power have diminished significantly.
When the scam of Adani manipulating the stock prices was revealed, the Indian stock market regulator SEBI (Securities and Exchange Board of India) gave a clean chit to Adani saying there was no evidence of wrongdoing by him. The Indian Supreme Court also gave a clean chit to Adani after SEBI’s clean chit.
But a few days ago Hindenburg Researchers again came out with another sensational expose that the chairwoman of the SEBI and her husband are the secret owners of some of the obscure offshore companies that Adani is using to manipulate India’s stock market. The situation has gotten so out of control that the Indian opposition leader Rahul Gandhi is now asking Indian retail investors to stay away from the stock market saying it is a giant Modi-Adani scam where the regulator SEBI chairwoman is a partner in the crime!
Amidst this hustle and bustle, the 800-hundred-pound Gorilla that everyone forgets is the Indian Central Bank RBI. It is the RBI that is the enabler of all these scams. Without the money printing sprees of the RBI, Adani & Ambani, etc., will not have billions of rupees to scam the stock market and prop up corrupt criminal prime ministers like Narendra Modi. RBI is the root cause of all these financial scams carried out by Adani and Modi, as well as other problems like raging inflation, unemployment, and rising income and wealth inequality.
The rupee notes (what we call money here) that Adani and Modi are using to manipulate the stock market and stay in power are printed by the RBI. What the mainstream economists call the ‘money multiplier effect’ works in brief like the following.
Narendra Modi needs money to win elections. The Adani and Ambani type of fascist tycoons need money and the backing of political power to corner the economy (create behemoth monopolies) for themselves. It’s a fascist nexus between politicians and a few billionaire tycoons. Narendra Modi has control of a money printing press called RBI (The Indian Central Bank). RBI is fully owned by the government of India. The following is from RBI’s website:
The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.
Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India. (Emphasis mine)
Imagine if you own a rupee printing press and you are in a position of power to outlaw anyone else who tries to print their rupees by declaring them illegal counterfeiters. Isn’t that a lot of fun? Would you not use this power to corner the whole country for yourself? That’s what Modi, Shah, Adani, and Ambani are doing.
Modi orders RBI to print rupees and loan them to Adani and Ambani (the actual process is a little bit more complicated but in simple words what I said happens). Y’all might be thinking they teach you in the classroom that the RBI is an autonomous institution and that its governors work independently without getting influenced by the government of India. That is all a ruse created by the socialist state-funded econ professors and other second-hand dealers in ideas to keep you deluded in thinking that you are a free citizen of a free country. Whatever modicum of independence RBI governors had before Modi came to power, Modi ended it quickly. He fired or forced to resign all the independent-minded academic governors like Raghuram Rajan, Urjit Patel, Viral Acharya, etc., a long time ago. For the first time in the history of RBI Modi appointed a non-economist history major bureaucrat Shaktikanta Das as RBI governor as his henchmen to do his dirty work. Anyone who presented themselves as a threat to Modi’s monopoly on power, he removed them.
In socialist India where the state owns all resources and human beings (yes dear reader, you are a slave of your government; if you don’t believe me then try not to pay your taxes and see what happens), Modi as the leader of that state is the sole owner of the whole country so he can award all contracts to his buddies Adani and Ambani. Adani and Ambani use the RBI printed rupees to corner the economy for themselves with the help of Modi who is giving them all the contracts or outright selling airports, ports, manufacturing facilities, etc. to them. In turn, Adani and Ambani use scamming tools like the electoral bonds to fund Modi and BJP’s election machine which gives Modi power year after year. Modi uses this money to win votes and topple non-BJP state governments by outright buying MPs from the opposition parties. And this is how the fascist cycle of power is complete. Modi funds Adani and Ambani. Adani and Ambani funds Modi. They get more powerful and richer, and we get weaker and poorer.
Adani (and surely Ambani) also uses some of the printed rupees to start offshore shady companies to manipulate stock market prices to give a false image of a strong Indian economy to people, which boosts Modi’s image in both national and international markets. Indian stock market is a giant scam bubble waiting to go bust as soon as RBI stops manipulating the monetary rate of interest. The game that Modi is playing using RBI will likely end up in a hyperinflationary depression. At the same time, Modi’s fascist policies go on destroying the lives of the people of India at the cost of a few billionaire tycoons, and some shrewd investors and scammers who corner all the wealth of the country (think of Ambani spending a fortune on his son’s wedding, and firing 42,000 employees from his companies).
Without RBI this fascist regime of Modi will come to an end. This is the reason why I have been advising Indians to urgently push for ending the RBI. As long as this central bank exists, Indians can’t get freer, richer, and safer. Apostle Paul told Timothy, For the love of money is a root of all kinds of evil (1 Timothy 6:10). The Indian government’s money printing press RBI is one of the chief roots of all socio-economic, and political evil that exists in India. Adani and Ambani types of corrupt tycoons, and criminal corrupt leaders like Modi are just an effect of the underlying socialist institutions of India. Indians will not be able to get rid of these corrupt criminal people without first ending these socialist institutions, including one of those chief institutions: the RBI.
