On October 29, in response to a firestorm around his appointment, Rajan denied he’s an American citizen and says he only has a green card. For my analysis of the whole episode as a psyop, see this post.
I noticed that the picture of Rajan on the blog describes him as an American and an Indian citizen. This is spurious.
While the US allows dual citizenship, India does not. Rajan could not be an Indian citizen and still be an American citizen. The description is intentionally misleading.
India offers the category of OCI or Overseas Citizen of India, which is NOT citizenship proper, since it does not let you have an Indian passport or an Indian vote. It just gives parity in the field of employment and investment and obviates the need to register with the police every year.
Rajan is a US citizen, not an Indian, and he’s in charge of the RBI! That is simply incredible.
GreatGameIndia..com describes how the American who heads the Reserve Bank of India is being given rock-star treatment by the Rothschild media.
Why not? He’s on a mission for the globalists – driving Indians out of the agricultural sector to make way for the multinationals:
“Welcomes don’t get much warmer than this—especially not for central bankers. But Raghuram Rajan, the new governor of the Reserve Bank of India, is being treated like a Rockstar by the media and a savior by the markets.
In his first briefing since taking office as governor on Sept. 4, Rajan announced plans to bolster the financial sector and support the rupee. None of the measures were ground-breaking, but the reaction was exuberant. The Economic Times, India’s leading financial newspaper, sketched Rajan as James Bond, replete with a sharp suit and a gun made out of rupee notes.
Never mind his American citizenship nor the various prestigious organizations he is associated with such as University of Chicago, World Bank, US Federal Reserve Board, Swedish Parliamentary Commission, American Finance Association, International Monetary Fund (IMF) etc. However, one distinct accolade that he has earned is the entry into an elite group of economist czars called the Group of Thirty or just G30 very recently last year just before becoming the Bank Boss of India. For the scope of this article we’ll need to dwell a bit on the background of G30.
History of Group of Thirty G30
The Group of 30 is a Rockefeller-sponsored group of leading Central Bankers and academics a Washington, D.C. based institution which counts as its members many of the more powerful banks and financial institutions in the world. The Group of Thirty, chaired by former Federal Reserve Chairman Paul VoIcker, includes the current heads of the Bank of France, the Bank of Tokyo, the Bank of Italy, the Bank of Israel, the former head of the German Bundesbank and now even the Reserve Bank of India. Also represented are many of the top commercial and investment banks, including Citicorp, J.P. Morgan, Morgan Stanley, Merrill Lynch, Deutsche Bank, the Industrial Bank of Japan, and J. Rothschild International Assurance Holdings.
The Group of Thirty is, in short, a mouthpiece for the international financial operatives who created the speculative bubble that is now exploding. It is a sort of vampires’ club – an elite group which is planning the reorganization of the world monetary system.
Since late 1981, the IMF and the multinational financial oligarchies have realized that the developing countries would not be able to pay their debts under their original terms. The Group of Thirty, designed a strategy to use the debt crisis to smash sovereignty. Their perspective is to create a world council with executive powers to dictate and supervise financial policies of each “sovereign” nation to allow free reign for nation-less capital. This entity would be made up of the IMF and the central banks, act independently from national governments and be coordinated by the Bank for International Settlements, based in Basel, Switzerland.
(Lila: That is why End the Fed is an empty slogan, as I blogged here. The money is being conjured at the BIS).
This is the same group that outlined the plan for changing the laws and regulations of nations, in order to protect their derivatives trading and perpetuate the bubble as long as they can. One of the G30 benefactors is the Open Society Foundation, with upon further examination is a George Soros founded organization. Another of the G30 benefactors is the Whitehead Foundation, which was started by John C. Whitehead, the former managing partner for Goldman Sachs, and Deputy Secretary of State in the Reagan Administration.
G30 and more specifically former Fed Chairman Paul Volcker was the major player in moving the USD off the gold standard under Nixon and was the prime mover at the Treasury in establishing Bretton Woods II. Volcker and his buddies at the G30 have not only known about but have methodically planned the global monetary regime that was instituted in response to the Global Financial Crisis caused by the derivatives time bomb (see G-30 manual on derivatives published in 1993).
Now it shouldn’t come as a surprise to you when our Pied-Piper Raghuram Rajan played the tune on how the world will fall into a hole; one of the few who predicted the 2008 financial crisis. The question is – to what end ?
With the world’s financial system in the midst of the biggest blowout in modern history, it is useful to take a look at the latest proposals from the so-called financial experts, as a way of demonstrating their incompetence to devise a solution to a crisis for which they themselves are largely responsible.
In an interview given to The New York Times Mr Rajan explains his definition of growth and provides his solution to the ailing economy :
“In terms of where will growth come from, it doesn’t need to come from fancy stuff like extraordinary innovation of one kind or another. Just getting people from agriculture into services and industry itself is growth.
[Lila: India has now lost food self-sufficiency altogether and prices are rising across the board on all grocery items, which cost nearly as much as they do in the West, at salaries far far lower.}
I think India’s medium-term future is moving people out of agriculture into industry and services. Services, you know, some extent we have a sort of a sense of what it takes. And India’s service sector is disproportionately large for a country of its income. Where we have had less success is industry, and the question is can we sort of find a way to free the path for small and medium industry, and not just keep them forever as small and medium industries but allow them to grow into large industries.
In another interview given to The Economic Times he extrapolates it further :
“There is a tremendous amount of value-add that can be created in services. In India, especially, financial services as also IT and others are where most value-add is created. Unfortunately, even though services account for 60% of the GDP, they don’t account for nearly as much for jobs. They account for just 15% of the jobs. What we need to focus on is perhaps thinking broadly about how we create services that will generate many more jobs.
Highlighting sectoral disparities building up in the economy, Rajan said in another interview to The Hindu Business Line that while agriculture’s share was declining, that of services had gone up. Manufacturing had remained flat.
“This is not surprising. As countries grow, agriculture declines. What is special about India is that the exit of people from agriculture has not kept pace. (no you’re not delusional; read again)
Increasingly, people in agriculture are impoverished relative to those having jobs in industry or service”.
We managed to move the States together, but perhaps we need to do more on the sectoral side to move people out of agriculture into other areas
The ridiculousness of these statements is only complemented by the audacity with which it is said considering the fact that these conclusions are derived with a conviction and in full cognizance of their effects and consequences.
What is striking to me however is that I had heard this tune before. It’s enigmatic melody is so familiar to my ears that it’s been ringing in my head ever since. I had heard it play in what is called the Mecca of Book Lovers – the Jaipur Literature Festival by another piper that goes by the name of Ruchir Sharma; head of Emerging Markets and Global Macro at Morgan Stanley Investment Management and author of the international bestselling tune Breakout Nations: In Pursuit of the Next Economic Miracles.
I remember this distinctly because when questioned by me about the very definition of growth and the solutions for development he was talking about I received the very same answer from him. So similar was the tune that I had to sit up and take notice. Remember that these two are the top Indian thinkers on the Forbes list. So when they speak people listen to them unquestioned like words of God.
Never mind that the Forbes family made their fortunes off of the Opium trade that was forcibly grown in India after ruining the agricultural lands and pushing the farmers into opium cultivation that was sold to the Chinese making their entire generations addicted onto it that made them unable to resist and fight when the time came during the Opium Wars; ultimately losing Hong Kong to the Rothschild gang-controlled East India Company.
Hong Kong became the hub of Opium trafficking and later Hongkong and Shanghai Banking Corporation (HSBC Bank) was founded on the trafficking money to better launder and manage the booty. Forbes was one of the directors of HSBC and later founded the Forbes magazine as we all know. These are respected family names now.”
For the American connections to the opium trade see this lengthy blog post by Linda Minor, “Why Would the Harvard Corporation Protect the Drug Trade?”
And in case you dismiss all that as history, here are stories about the advent of the opium trade and mass addiction to India. Only two decades ago, they were unheard of.
See the following: