Thread on #Scam1992 web series on #HarshadMehta (HM) based on book by Sucheta Dalal.
23 April 1992

HM had repaid 500 crs to SBI. The article ruined it.
It was a crime to use bank funds for buying stocks definately and money was taken frm NHB to pay SBI.

Want 2ask this openly:
1) Isn't the same thing happening today formally?
2) Public money through MF / LIC / PF / ETF is going into hyper inflated overvalued equity markets ?

2) offcourse it is now official and as per rules. Mutual funds sahi hai #₹$€
3)Did somebody evaluate the amount of loss to the system ?

4) did someone think of covering it and closing the stock holdings before Market crashed?

5) Who wld investigate the illegal invoked beneficiaries.. Citibank, RJ, RKD, Kedia etc. etc.
We always like to blow it up in India and make it a scam ! It's a lose lose game. Discreetly take the culprit in possession and recover, going public and playing politics/media mess on it.

SBI /RBI / Sebi all looked fools..

Years after we repeated this:
in ILFS, DHFL, Yesbank, NPA, etc etc.

Prachar is not the answer!

Some food for thought:

Was the scam created to stall india reforms or to buy the market again dirt cheap post reforms ?

1992 they said our Banking system is a Rot.. it is any different today?

Did we learn ?
@suchetadalal on a separate note, this series seems to be a clean chit to Harshad in a way and my mind says a guilt release for Sucheta?

Last 2 episodes are further dedicated to clean Harshad's image by devoting lots of time implicating PMO that time.. PV Narasimha Rai
Famous press conference by Ram Jethmalani with Harshad Mehta confirming giving 1 Cr bag to PMO office and then not providing evidence to prove it.

Harshad ultimately setup Damyanti group again in 1997 and got screwed due to 1998 pokhran blast again.
Final nail in coffin by own partner of Harshad - got HM in jail again in 2000.

Must watch.. lot to learn on about "what not to do in markets" !!
Single learning for Today:
Markets fuelled by liquidity can rise to any level, dont chase it.. there are vested interest both sides!

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More from @AnkitMadX

8 Aug
@DEVENDRACHATUR1 @iKawachii @dhavalgandhi007 Absolutely agree sir. at this juncture its important to pen down critical points due to which our country is in economic mess in 2020 also. Who is responsible for them, people are smart enough to judge.

1) Population explosion for Popular Vote from states / castes, etc.
@DEVENDRACHATUR1 @iKawachii @dhavalgandhi007 2/n

2) Unchecked immigrants from Bangladesh, Nepal, Assam, other M countries.

3) Increase in % share of Non-Hindu Population

4) Definition of Securalism altered!

5) No Education No Literacy focus. Unproductive population.

6) Nepotism
@DEVENDRACHATUR1 @iKawachii @dhavalgandhi007 3/n

7) 2004-14 saw over 1 Trillion$ of capital machinery Import (all inflated). Literally no $ reserves added against our exports. Money went overseas. Rupee crushed. Purchasing power of India killed.

8) Crony Capitalism. Banks Bankrupted.

9) Equity Mrkts rigged. Colocation!
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4 Aug
#GOLD Thread 1/8
Data of 958 weekly close from Apr 2002 to Aug 2020 analysed. (18 years, 958 Wks)
Of 958 Wk, only 44 Weeks have given + / - 5% move in #GOLD
Plotted Dow Jones move 4 same week as +/- 5% move in #GOLD

Data as below.

1)Out of 43 times, 11 times in 2008, 5-6 times in 2007 /09/13

2)#EPIC2020, happened 4 times already, this week potential ? 2025 ?

3)Dow and Gold hv been same direction of move for 23 times & opposite direction 20 times of the 43 outcomes. NO trend.
4)Years of +/- 5% moves - All Crises Years
Overall view based on below stats/ facts:
Year 1980 high of GOLD $ 800 (1979 to 1980 was 100% gain from $ 400 to $ 800)
(FED BS / US GDP was ~10% of 1980 to 2008)
2008 high was $ 800 (back after 28 years)
2011 high was $ 1930
Read 12 tweets

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