There are tiresome and dangerous crossings which may be endured only by trust

Wilbur Ross put in 24 years at Rothschild Banking, NY, rising to executive managing director….He also is a trustee of the Brookings Institution and the Chairman of its Economic Studies Council.  He had earlier been privatization advisor to New York City Mayor Giuliani and was appointed by President Clinton to the board of the U.S.–Russia Investment Fund.  Mr. Ross serves on the Dean’s Advisory Council of Harvard Business School and on the board of the Yale University School of Management and its new International Center in Beijing.    http://som.yale.edu/event/2015/09/future-finance-conference

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During a brief marriage to former lieutenant governor Betsy McCaughey, Ross spent $2 million to finance her (failed) bid to become governor of New York.  http://nypost.com/2000/03/14/rothschilds-bottom-fisher-ross-leaving/

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2011.       In August 2003, Ross won an auction for the bankrupt Horizon coal company and has since made it the centerpiece of International Coal Group (sense a theme here?).  ICG is now the nation’s fifth-largest coal company.  “Coal is the cheapest source of energy for generating electric power,” he says.  “We have more BTUs of coal than all the Arabs have of oil.”  Again, the timing was impeccable.  The spot price of coal has doubled since July 2003.  http://nymag.com/nymetro/news/bizfinance/columns/moneyandmind/10279/index1.html

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Ross, who has made billions of dollars betting on bankruptcies and distressed assets, is a critic of Democratic presidential nominee Hillary Clinton’s trade views.  http://fortune.com/2016/08/04/investor-wilbur-ross-urges-trump-not-to-let-his-behavior-become-the-issue/

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9-12-16    Ross:    “If 25 basis points is all that’s keeping this economy together, we got nothing going.”  On Monday Dimon said the Fed should raise rates “sooner rather than later” during an appearance at The Economic Club of Washington D.C.  Ross issued a warning as to what could happen to the U.S. economy if the Fed fails to increase interest rates soon.

“If they don’t start raising it, the real problem will be the economy isn’t that great,” he said.  “Somewhere, probably in the next couple of years, we’ll go into a recession.  If they’re still at these sub-low rates what are they going to use in their toolbox to fix things? We’ve learned negative interest rates don’t do a heck of a lot.”

When asked whether he sees an overall market collapse coming, Ross said:  “I don’t see the signs of excess so far.  I think the market’s probably fairly fully valued, but you normally see big signs of excess.  There’s no sub-prime wacky lending going on now.  The real estate boom is cooling in most parts of the country, at least big metropolitan areas.  So I don’t see where the excesses are.”  http://finance.yahoo.com/news/fed-fumbling-big-time-wilbur-225500987.html

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India   11-23-16

Only about 20 million individuals and families, or around 1.6% of the country’s population, paid any income tax in 2013.  Government revenue from personal and corporate income tax is less than 6% of the size of the economy in India.  In advanced nations, the average is around 12%….

Since Mr. Modi’s Nov. 8 announcement more than $80 billion in old bills has been exchanged or deposited. That is around 40% of the value of all large rupee bills in circulation. The deadline for turning in canceled bills is Dec. 30.

Others are discreetly jettisoning their cash stockpiles in more-inventive ways.  In Kolkata, a longtime hub for illicit financial activity, a lively trade has sprung up for converting voided bills into new bank notes, gold or checks, each for a different price.  …

A police officer instructs customers waiting in line outside a State Bank of India branch in Mumbai last Saturday. India is cracking down on the hoarding of cash.-A police officer instructs customers waiting in line outside a State Bank of India branch in Mumbai last Saturday. India is cracking down on the hoarding of cash. –DHIRAJ SINGH/BLOOMBERG NEWS

   Only about 20 million individuals and families, or around 1.6% of the country’s population, paid any income tax in 2013. Government revenue from personal and corporate income tax is less than 6% of the size of the economy in India. In advanced nations, the average is around 12%….

Millions of Indians have heeded the call.  Since Mr. Modi’s Nov. 8 announcement more than $80 billion in old bills has been exchanged or deposited.  That is around 40% of the value of all large rupee bills in circulation.  The deadline for turning in canceled bills is Dec. 30. …

Others are discreetly jettisoning their cash stockpiles in more-inventive ways.  In Kolkata, a longtime hub for illicit financial activity, a lively trade has sprung up for converting voided bills into new bank notes, gold or checks, each for a different price….

Enough rich Indians were enlisting others to redeem small batches of cash at multiple bank branches that the Ministry of Finance last week ordered banks to mark people’s fingers with indelible ink when they come in to exchange old bills.

This safeguard—which India also uses to prevent people from voting more than once during elections—hasn’t proved airtight.  This week, outside a dingy auto-parts store behind a bank in New Delhi, people were using diluted battery acid to wipe the ink off their fingers.  The shop’s owner wouldn’t say whether he sold them the acid.

“In India, if there are five people thinking about making a law, there are 50 people thinking about breaking that law,” said Mukesh Butani,managing partner at BMR Legal, a New Delhi-based law firm.

Disposing of bigger bankrolls requires even greater ingenuity.  One cooking-gas distributor in the northern state of Uttar Pradesh ticked off the many ways he unloaded his cache of 7 million rupees, or around $100,000.  His connections at banks helped him deposit around 500,000 rupees in old bills, backdating the transactions so they appear to have gone through before the notes were canceled on Nov. 9.  The priest at a local temple accepted 35,000 rupees and gave it back to him in 100-rupee notes, he said….

Mr. Butani, the lawyer in Delhi, said India has to do more than void notes if it wants to wean itself off cash. It also has to target the underlying reasons for which businesses amass paper money, such as the need to pay officials who demand bribes.

Whatever the legal-tender status of 500- and 1,000-rupee bills, “if an inspector wants money from me, he still wants it,” said V.K. Agarwal,managing director at a small electrical-cable manufacturer in Lucknow.  “He says, ‘Give me new notes—I don’t care where you get them from.’ So what do I do?”

Politics in India is another big cash business.  Because the country’s electoral rules don’t require political parties to disclose the sources of small donations, companies regularly use cash to buy influence.  Parties then use the cash to buy votes ahead of elections.  http://www.wsj.com/articles/business-owners-try-to-undercut-indias-move-against-black-money-1479910149

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Through ignorance it is possible to be filled with thoughts which enfeeble and impede the broadening of consciousness.  But let us remind ourselves about the Fundamental Force.  Let us reiterate the principles of the Source of advancement and tirelessness.      -Morya:  Aum 1936

II, iv, 9.   Sensitive was your feeling that one should gather all courage to attain.  There are tiresome and dangerous crossings which may be endured only by trust in the guide.  He must lead you to the goal and not overstrain your strength.  If he should overtax your forces, with what would he replace them?       –Leaves of Morya’s Garden 1925

ElMorya22.jpg-Morya by Hermann Schmiechen, 1884

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We find that the clouding of the brain with the substance of marijuana and its chemical derivatives fills the cells of the brain with a substance whereby the light of God cannot be contained within those cells.  Cells are cups….The use of marijuana results in the persistent poisoning of the deep centers of the brain necessary for the awareness of pleasure.  Thus it poison the part of the brain that allows us the full awareness of being alive.  As a result of this many marijuana users have a kind of sensory deprivation, a symptom of marijuana that is the slowest to recede and the one least likely to go away.  The inability to experience life to the fullest makes one constantly pursue pleasure because one isn’t quite realizing the full satisfaction of life.   -Messengers Mark & E C Prophet:  Paths of Light and Darkness, 2004, pp. 45-6, see https://books.google.com/books?id=b85i1XtUU-gC&pg=PA44&dq=clare+prophet+drug+movement&hl=en&sa=X&ved=0ahUKEwjoqL3srcLQAhUJxFQKHdiABIAQ6AEIITAB#v=onepage&q=clare%20prophet%20drug%20movement&f=false

Unknown.jpeg -E C Prophet

IMG_4204.JPG

11-24-16  French naval group DCNS plans to provide the Indian Navy with three more diesel-electric Scorpene class submarines that would be built entirely in Mumbai.      http://www.atimes.com/article/french-help-delhi-boost-made-india-submarine-fleet/

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http://www.wnd.com/2016/11/brexit-leader-nigel-farage-moving-to-u-s/?cat_orig=politics

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