Curious Case of Raghuram Rajan

Discussion in 'Politics & Society' started by Ancient Indian, Jun 19, 2016.

  1. Ancient Indian

    Ancient Indian Unplugged Version Senior Member

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    I am seeing lot of news about his term ending. So want to know what our forum members think about it.

    here are some quick references,

    Here's how Raghuram Rajan became René Higuita of central banking
    It's Rexit: Raghuram Rajan to depart from RBI this year, no second term

    What congress is saying,
    What his critics saying,
    Raghuram Rajan realised he won't get second term; saved face by statement: Subramanian Swamy
     
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  3. Ancient Indian

    Ancient Indian Unplugged Version Senior Member

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  4. Ancient Indian

    Ancient Indian Unplugged Version Senior Member

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  5. sayareakd

    sayareakd Moderator Moderator

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    Any economist will tell you that central bank should not tow line of Govt and should act as per economy of country that is what present Governer did. Infact in lot of areas he did great job.

    He actually made it very hard for defaulters to raise money.
     
  6. alphacentury

    alphacentury Regular Member

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    When all the usual suspects like Amartya Sen and other fifth column activists support him, you know whats up. A RBI governor is interviewed by a prominent new channel and asked about everything under the sun, intolerance bla bla. Kudos to Modi for sticking to the decision and getting him out.
     
  7. Sakal Gharelu Ustad

    Sakal Gharelu Ustad Detests Jholawalas Moderator

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    He is just a guy and hence expendable. He was ok as Gov, but the whole lobbying for him in the past few months was just too much.
     
  8. AnantS

    AnantS Senior Member Senior Member

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    yep correct, infact one was oblivious to what was SS was saying. But the intense lobbying in newspaper, to the point even indirectly threatening harm to Indian economy meant something was fishy about him
     
  9. VIP

    VIP Ultra Nationalist Senior Member

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    Leftists going gaga about his exit lol, writing articles how democracy is in danger because of his exit :D looks like good decision if they're crying :p
     
  10. ezsasa

    ezsasa Senior Member Senior Member

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    The assumption that a single person is indispensable is ridiculous.

    Maybe he is a good at what he does, but the way the whole presstitute brigade are talking as if india will not exist once Rajan goes makes it laughable.

    Even till yesterday, I had no opinion on this. Today since Infy Narayana Murty is lauding Rajan, it is in india's interest that Rajan goes.
     
  11. bose

    bose Senior Member Senior Member

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    Rajan simply does not fit in to the thinking of the over all economic architecture the present government like to see... Rajan believes in gradual or iterative procedure with counter balances and checks...

    while present government, I believes in a disruptive change [ my assessment] that does not goes with the Rajan's economic thinking...

    Govt will have it's say because they are answerable to the people and Rajan not...
     
  12. Indx TechStyle

    Indx TechStyle Perfaarmance Naarmal Senior Member

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    I don't wanna speak against a person who is now going to leave the chair.
    He did great job undoubtedly in his time but advocating for Islamic Banking is disgusting.

    Rajan family's link with Congress & Chidambaram.

    Links:
    1987 news article:
    http://indiatoday.intoday.in/story/...ndians-lobby-suffers-a-set-back/1/337446.html

    Wiki:
    https://en.wikipedia.org/wiki/Raghuram_Rajan

    2016:
    http://www.ibtimes.co.in/chidambara...wonders-whether-modi-govt-deserves-him-680510

    Also check this:

    Connect the dots?
    What is G30? Why did Rockerfeller Foundation (another American foundation like the Ford Foundation) create G30? How did G30 members push several nations into recession? What is Raghuram Rajan's role in G30? Does G30 want to use India as a Guinea Pig for its economic experiments? Why should our RBI Guv be part of such a "notorious" private club? Is Rajan leaking confidential & sensitive info of Indian economy to the G30 or is he actually obligated to leak it against his wishes because he is part of the club?Is the G30 using Rajan to control RBI, and hence is the G30 in turn controlling Indian economy?

    Can we have answers to the above questions?

    Further reading:
    http://www.countercurrents.org/kasli110913.htm

    http://www.washingtonsblog.com/2014...t-group-thirty-financial-crisis-kingpins.html

    https://mises.org/library/rockefeller-morgan-and-war

    References:
    https://news.uchicago.edu/article/2...s-raghuram-rajan-and-axel-weber-appointed-g30

    https://books.google.co.in/books?id=XXnqbXhaTf8C&pg=PT123&lpg=PT123#v=onepage&q&f=false

    Credit : @Vishwarupa
     
  13. ezsasa

    ezsasa Senior Member Senior Member

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    And let's not forget, presstitutes have been preparing for today's rexit narrative for over a year. Remember all the news reports which were implying there is a rift between finance ministry and Rajan.

    They had been trying to find out whether modi will fire Rajan from a longtime back, on the bright side this proves that nobody has a clue what modi is going to do next.
     
  14. garg_bharat

    garg_bharat Senior Member Senior Member

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    I have said it before and say it again, the industrial growth is too low. The industry needs lower interest rates. You cannot hung up on overall inflation as most of the inflation is coming from food. However there is no employment growth in food industries. Growth is coming or expected to come from industry.

    India needs solid investment in infrastructure, which is still below par in most areas. This can happen only if interest rates are low.

    Developed countries have very low rates due to same problem that india faces.
     
  15. garg_bharat

    garg_bharat Senior Member Senior Member

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    Mr Rajan does not understand the direction of the government. He does not understand the need of job growth.

    Countries like Japan and eurozone have gone to the extent of negative interest rates to save their industrial base.

    It is almost an economic war out there with China. This war has to be fought by people with vision. Mere academic excellence is not enough.
     
  16. Ancient Indian

    Ancient Indian Unplugged Version Senior Member

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    Great post, bro.
    I don't know about G30 before.

    P.S. I forgot to tag @Kshatriya87
     
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  17. alphacentury

    alphacentury Regular Member

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    Note the person who is tweeting.

    ........................................................................................................
     
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  18. OneGrimPilgrim

    OneGrimPilgrim Senior Member Senior Member

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    whr invaders hv been eulogised, heroes binned!!
    economic development by 2019 - oh R3 did a great job by steering country away from BJP's disruptive policies, onto the path of economic progress.

    not so perceivable reforms by 2019 - we had said it! BJP would be doing a grave mistake by ousting R3.

    ^^ what the presstitute narrative would be anyhow.

    --------------------------------------------------------------------------------------------------------------------------------------

    gentlemen, also do read this:

    https://www.linkedin.com/pulse/raghuram-rajan-controversy-why-subramanian-swamy-has-point-singh
     
  19. ezsasa

    ezsasa Senior Member Senior Member

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    looks like the other side of the story is coming out,
    upload_2016-6-20_1-34-7.png
     
  20. SANITY

    SANITY Regular Member

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    Did RBI Governor Raghuram Rajan want shorter second stay?
    [​IMG] There have been reservations against some of Rajan’s public comments in some quarters of the ruling Bharatiya Janata Party, but Finance Minister Jaitley has always publicly backed him.

    NEW DELHI: Raghuram Rajan may have got another term as head of theReserve Bank of India but he would apparently not have been available for the period that the government wanted him. That possibly led to Rajan's unexpected announcement on June 18 that he would return to academics when his three-year term ended in September, said a senior official.

    Although he'd held consultations with the government on the matter, the timing of the announcement is said to have caught many by surprise, especially as it came ahead of the June 23 referendum in the UK on EUmembership, the outcome of which is of global financial import.

    "The government was offering another regular term but he was available only for a shorter duration," said the person cited above, which may clarify a key part of Rajan's statement related to the central bank's unfinished tasks such as inflation control and banks' bad loans.
    [​IMG]

    In his letter to staff, the governor had said: "While I was open to seeing these developments through, on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as governor ends on September 4."

    This had been interpreted by some to mean that Rajan wanted a second term and that the government was not keen on giving him an extension.

    Discussions with Rajan were held at the highest level and not many people are aware of details.

    Moreover, as mentioned by top government officials previously, such decisions are usually announced closer to the date unlike the west. UK Sinha's reappointment as chairman of the Securities and Exchange Board of India, for instance, came close to the end of his first term.

    There have been reservations against some of Rajan's public comments — particularly the one urging caution against excessive euphoria about India's growth rate — in some quarters of the ruling Bharatiya Janata Party, but Finance Minister Arun Jaitley has always publicly backed him.

    Even on the issue of interest rates, the finance ministry has refrained from making public statements and went by the RBI's view on the establishment of an independent debt management office.

    As per the RBI Act, the governor can be appointed for a maximum tenure of five years and is eligible for reappointment. Rajan had been appointed for a three-year term beginning September 4, 2013, by the previous United Progressive Alliance government.

    It's not clear if the government offered Rajan a full five years in office or another two years, adding up to five years.

    Rajan is on leave from the University of Chicago where he is professor of finance at the Booth School of Business.

    BJP's Rajya Sabha member Subramanian Swamy had launched an oust-Rajan campaign with a series of attacks that questioned the governor's patriotism and accused him of economic sabotage. Rajan has never responded to the charges and the government didn't acknowledge them either. BJP president Amit Shah had backed Rajan when asked to comment on Swamy's statement.

    "We will take our decisions without being influenced by any other factor," Finance Minister Jaitley had said when asked about the attacks against Rajan and the opposition to giving him a second term.

    http://m.economictimes.com/news/eco...-shorter-second-stay/articleshow/52824901.cms
     
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  21. Vishwarupa

    Vishwarupa Senior Member Senior Member

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    Over the last 2 years, libtards have been desperately searching for a credible face who could attack Modi, but in vain. The day Rahul Gandhi shot himself in the foot during his "Frankly speaking" interview with Arnab (RTI, Women empowerment), they snubbed him & lost all hopes. Their next Mascot was Arvind Kejriwal, who could single handedly stop the Modi jaggernaut with his 67/70 performance in the national capital, but he turned out to be a drama artist constantly blabbering ear-aching anti-Modi rhetoric like a broken tape.

    Meanwhile, Modi was growing from strength to strength, instilling confidence within Indian minorities, developing cordial relations with America, Asia, Australia etc, while the anti-Modi frontiers like Rahul, Kejriwal, Mamata, Nitish were on a constant bickering spree.

    Amidst all these noise, when RBI Governor Raghuram Rajan compared PM Modi to Hitler, it was music to the ears of libtards. The libtards who were desperately searching for a credible anti-Modi face, wondered if Rajan could be their saviour. Interestingly, Rajan didn't let them down & took it forward by launching a series of scathing attacks against Modi. For example, while Modi was trying project India as a great investment destination, Rajan countered Modi by declaring that India is a one eyed King in the land of blind. When Modi invited companies to Make in India, Rajan mocked the initiative. When Modi Govt entered the Guinness book of world records for Jan Dhan Yojana, Rajan downplayed it. All these literally gave goosebumps to the libtards who started seeing Rajan as their role model & mascot.

    That's why, when Rajan recently announced that he will be going back to his hometown in America after completing his complete tenure at RBI, libtards got the shock of their life. Because if not him, then who else can attack Modi now? Who else can compare Modi to Hitler? Who else can can mock swadeshi initiatives like Make in India? Hence their outrage over media in the last few days.

    Now that Congress has realized the potential of Rajan as a politician (who can consolidate their libtard vote bank), and assuming that the top level in Congress still have some grey cells left, I will not be surprised if Congress approaches Rajan & field him as PM candidate in 2019. Just like how Sonia controlled the party & used former RBI Guv Dr Manmohan Singh as PM face, in the future Priyanka Vadra Gandhi might control the party, with Rajan as the PM candidate against PM Modi.

    To put it in a nutshell: Only Rajan can save the Congress party.
     

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