The metrics of corruption
What you measure is what you manage. (Japanese management maxim).

Nixon and Tanaka
Measurement of scandals and corruption is a particularly thorny issue. Due to the lack of a common measure, transnational comparison of scandals is currently impossible. Was the Lockheed Scandal more egregious than the Harshad Mehta Scam?
Was Watergate more dangerous than The Lewinsky Affair? How does one compare corruption across nations and time periods?
Some scandals captured, much more than others, national and international attention. To understand the nature of scandals, we will examine three such scandals. These scandals were seen as particularly flagrant – and damaged the careers of the concerned politicians.
America’s Watergate scandal
President Nixon was forced to resign over this scandal. Two Washington Post journalists were tipped off by “Deep Throat”, William Mark Felt, Sr., an FBI official. Disturbed by the sidelining of FBI insiders by President Nixon, Felt kept the two journalists updated. The scandal erupted when burglars, supposedly at President Nixon’s behest, were caught trying to bug the site of the Democratic Party Convention. Watergate was projected as a major ‘threat to democracy’ – and the resultant outrage was captured by films and books.
The two journalists were lionized by the American media – as well as international media. The media took care of their own, even though the role of media was only minimal. Under media pressure (and the threat of impeachment), ‘Tricky Dick’ Nixon resigned. Vice President Gerald Ford succeeded and granted Nixon a full pardon. Compared to the shenanigans in the Kennedy regime, Watergate was tame. Yet the media circus made Watergate appear as Armageddon.
Japan’s Lockheed scandal
1974. The Japanese Prime Minister, Kakui Tanaka, resigned, when it was found that he (and some politicians) had allegedly taken bribes to buy fighter jets from Lockheed Corporation, USA – an incident that the ‘Japanese poetically refer to as kuroi kiri (black mist).’ Though, Tanaka resigned from Government, he remained a powerful politician in the LDP and remained king maker till his death.
After the revelation of the scandal, “Bungei-Shunju’s circulation has jumped 10%, and collectors are now paying up to $60 for a copy of the historic November issue.” The interesting part was the ease with which Bungei Shunju was able to cover this story – and the complete lack of opposition.
The team encountered no political interference. Says Tachibana: “We went to tax offices and census registration bureaus, bowed to the officials, paid a modest fee for copying and came back with a treasure-house of information.”
Was it the amakaduri, or was the faceless MITI, who gave a unspoken go ahead for this bit of muck raking journalism? In a usually compliant Japan, such adventurism raised questions!
India’s Bofors scandal
After Indira Gandhi’s assassination, her son, Rajiv Gandhi won a stunning 400 seat majority in India’s Parliamentary election (1984) – giving him unprecedented power. India had high hopes from him – which he partly fulfilled. India’s telecom revolution, software success owe their success, partly to initiatives during that period.
India’s rising crude oil output from Bombay High gave Rajiv Gandhi elbow room, which he utilized for increased imports. India’s historic rupee overvaluation, corrected during and after his regime. From roughly Rs.18 to a dollar, by 1995, Indian rupee depreciated to over Rs.35 to a dollar. But what finally did him in was the Bofors scandal. It was alleged that Bofors AB, paid off various people involved in the finalization of the howitzers for Indian armed forces.
Post Bofors, the resignations of Arun Nehru, Arun Singh and VP Singh, complicated by the strained relations between the Bachchan-Gandhi families, coupled with Rajiv Gandhi’s weak defense, ensured that he was guilty in public opinion – and he lived and died under the shadow of Bofors. Added, was the aggressive and strident press campaign by Chitra Subramaniam and N. Ram of the normally quiet Chennai-based The Hindu newspaper.
Other scandals
Of course, there were many other scandals – bigger or less famous. Emperor Bokassa’s diamonds to Valery Giscard d’Estaing or the Mark Thatcher shenanigans. Hardly anyone remembers Valery Giscard d’Estaing and Bokassa’s diamonds. But none captured the public bandwidth the way these three scandals did. Hence, it would be a appropriate to examine the elements of these three scandals to understand create metrics for such scandals.
Some other sample cases
To measure the magnitude of the scandal incident itself, it is proposed that the unit of measure can be named as a cBofors (constant Bofors). And the measure of individual corruption can be a cTanaka (a constant Tanaka).

Morarji On Rushmore
This metrics also makes clear why I have devoted so much space to Morarji Desai in the past. Morarji Desai’s gold policy has been examined in previous other posts – especially its contribution to: – One, the greatest crime wave ever in human history.; Two – the survival of Bretton Woods for 25 years;
St.PT Barnum, my guru, mentor, friend, philosopher, guide et al, in matters of propaganda, also believes that Morarji Desai must be elevated to Mount Rushmore.
Of course, there was the old case where Seymour Hersh alleged that Morarji Desai was paid of by the CIA. So, I will not repeat myself here.
The four elements that are common in these three scandals were:-
- Country Risk - These incidents became scandalous as the future of the nation in all the three cases was seen as jeopardized. The Bofors guns were seen as more critical and hence the outrage. The Coffingate during NDA-George Fernandes was seen as ‘almost benign corruption.’
- Cost & expense implication to the tax payer - In all these cases, it was seen that the tax payer was footing the bill – for something illegitimate.
- Social Impact – In some cases, the effect is a perceived corollary – and in others, the incidental change is direct and visible. After the Harshad Mehta Scam, a lot of people lost money. After the collapse of Lehman Brothers, the financial crisis in the US was exacerbated.
- Beneficiary toxicity – Who gains from these scandals also changes the perception. If a harmless broker like Harshad Mehta benefits, it does not create the outrage that would result if the beneficiary is say, Dawood Ibrahim.
Based on these four elements, we can rate each rate each scandal. As an index, I would propose two measures.
For instance, a scandal like the collapse of Lehman Brothers measures at an impressive 15 kiloBofors – but Watergate weighs in at small 2.21 cBofors. Similarly, AR Antulay, is possibly (say) 7 deciTanakas, but Kennedy is clearly about 5 kiloTanakas.

Corruption metrics
This is, of course, a dynamic metrics system, which will allow new elements with weights to also come in. It will allow political ‘decision makers’ and ‘business leaders’ to choose between ‘lesser evil’ based on data, instead of gut feel.
One immediate benefit. Such a measurement system immediately makes one thing very clear. Media clearly distorts the gravity of the issue. A Watergate which was a minor political storm in an American tea-cup, which affected few politicians was blown up (and out) of proportion. But the media ignores, (and understands much less how) Morarji Desai’s support to Bretton Woods with his gold policy condemned billions to lives of poverty.
Blindsided Indians
Possibly more people in India (at least the English press) know about Bob Woodward and Carl Bernstein (who wrote the) Watergate, than about Chitra Subramaniam and N Ram – who ensured that all details of the Bofors Scam came out. Sucheta Dalal, who broke the Harshad Mehta story has (I some times fear) a female Don Quixote.
And of course, nothing happened to the Lockheed and the Bofors.
Pakistan – a nation in fidayeen mode?
हंस के लिए हैं पाकिस्तान, लड़ के लेंगे हिंदुस्तान
With a contemptuous smile, we robbed them off Pakistan;
Now we will battle, to conquer Hindustan
Synthesis of Pakistan
For many years, the above slogan (popular in pre-partition India amongst Muslims) summed up the idea of Pakistan. The State of Pakistan was an artificial creation – and popular leaders like Sheikh Abdullah refused to even meet up with Jinnah - and who was deemed irrelevant.
The Deoband seminary issued a call to Muslims, against the idea of Pakistan. Deoband seminary was set up after the 1857 War, as a religious institution to ‘escape’ British repression. 75 years after its establishment, the Deoband school became famous during Independence, due to its strong anti-Jinnah, anti-Partition stand. And 60 years after Indian independence, the Deoband seminary is again, leading an anti-terror campaign in India.
Colonial Legacy
Yet, the British colonial administrators needed to prove that only they could rule over India. Indians were after all ‘men of straw … of whom no trace will be found after a few years’. And they were led by ‘half naked fakir‘.

The clue is in the body language
The colonial administrators created false divides – between Hindus and Muslims, between Hindus and Hindus. In some they succeeded – and in some they didn’t. Kashmir, was after all an issue that was created by British commanders of Indian and Pakistani armies – in 1948. Mountbatten was the also the Governor General of India at that time.
Modern Pakistan
The Pakistan nation is actually 5 parts – The army, the ISI, the politicians, the 22 families and then there are the rest. Some may want to add the fundamentalist clergy as the sixth element. And now there are fringe terrorist groups – like LeT also on this list. Mahbub ul Haq’s “22 families” speech in Karachi in 1968 highlighted the power and wealth of a few families in Pakistan.
No one in Pakistan talks to anyone. Each has contempt for the other four. And all five have separate agenda.
Frankly, my dear, I don’t give a damn …
And what partition era Indians remember most about the slogan above, was the indifference, to the fate of Pakistan by the soon-to-be Pakistanis – and their total India-centric focus. It is their reading, that the Pakistanis may not mourn away the passing away of Pakistan much – which is something that most Indians do not factor. Having got Pakistan for a song, they may soon be found snickering at its break up.
Is it this indifference which has allowed Pakistan to become a client state of the West?
Resident Non Indians
Some part of the Indian bureaucracy and English speaking media is possibly made up of RNIs (Resident Non-Indians), whose children and future, they have ’secured’ in the West – much like the indifferent Pakistanis.
And this may be the one quality, that possibly is the one thing, that the RNIs and Pakistanis share – indifference to the fate of the country.
American Mythology
The Spirit Of The American Constitution
Many political writers, invoke the spirit of the American Constitution – as something that is extinct. This ‘spirit’ has been a matter conjecture, dispute and speculation – due to subsequent actions.
PT Barnum (The Propaganda Slayer) says
“Truth is, this spirit of the Founding Fathers is a mythical animal,” . He continues, “It never existed. Ever. To all those who claim (or feel) that America today is not what the founding fathers meant it to be, you have two options. Option one – Take a cold shower.”
PT Barnum’s second option cannot be reproduced here. But the expose by PT Barnum (the Patron Saint Of Propagandists) on the American Constitution is given below.
Regrettable Statements
Much before the American Constitution was being put to paper, an American luminary declared,
“I know not what course others may take; but as for me, give me liberty, or give me death!.”
His name was Patrick Henry. America then went on to give death to the Native Americans and took away the liberty of millions of African-American slave people.
PT Barnum’s take on this - Enslaved ‘Blacks’ and all the ‘Red Indians’, all marked for genocide and slavery, for the glory of the White race – conspired and claimed that Patrick Henry had included them in this declaration. Patrick Henry should have not have said this.
When Jefferson Dined Alone
‘All men are created,’ declared Thomas Jefferson. When confronted with the need for a solution for the Black slaves, (who, he considered, as NOT equal to Whites), he suggested that they should be sent back to Africa! Where in Africa could the slaves be sent back to? He suggested that US should create a new colony for them.
The result – Liberia. Another land of the free? Of course, the local population living in the soon-to-be-Liberia, were not consulted. They were unimportant.
Of course, he forgot to add, as long as you are White. The White Gods had decided what was best for the Black people. Benjamin Franklin’s views are illustrative of this mindset, when he said of the American Blacks, “But the majority, are of a plotting disposition, dark, sullen, malicious, revengeful and cruel in the highest degree.”
Thomas Jefferson also made some promises that all people would be allowed “pursuit of happiness” – if I remember correctly. The devil is in the details. Jefferson forgot to mention that this “pursuit of happiness” was a privilege for Whites only.
This principle of “equal in the eyes of law” was another matter of regret for Jefferson later. The US Supreme Court did decide, in the Dredd Scott case that Blacks were barred from approaching American Courts.
“Our laws have applied the only antidote to this vice[intolerance], protecting our religions, as they do our civil rights, by putting all on equal footing.”
“Equal in the eyes of the God” created yet another problem. Women demanded the right to vote. How could women (it did not matter that they White) be allowed to vote? In yet landmark case, the US Supreme Court decided, (Myner v. Happerstett) that being a US citizen did not give women the right to vote. Finally, after more than 100 years of Women’s Suffrage Movement, the right to vote was given to the women in the US in 1924.
Land Of The Free
1798: Criticism of Government, a criminal act?
John Adams made it a crime to criticize the US Government. Fearing a French invasion, the US Congress and President John Adams passed the Alien and Sedition Acts. These gave the US Government sweeping powers to deport any person considered dangerous to the nation’s welfare, to imprison anyone found guilty of criticizing the government. Numerous people were imprisoned.
In 1800, Thomas Jefferson made this into a campaign issue – as Whites (his favorite color) were getting affected. After his election, Jefferson pardoned all those convicted under these laws. Nearly 200 years later, in 1964, the US Supreme Court found courage to declare these law as unconstitutional.
1861: Abraham Lincoln detained thousands, ignored courts

Palmer Raids
Lincoln’s face adorns Mount Rushmore. The same President Abraham Lincoln, during the Civil War, suspended habeas corpus (a cornerstone of Western claim to liberty and freedom), allowed the Federal Government to run amok. Southern sympathizers were arrested, without submitting evidence against them or giving them a trial. Hundreds of draft resisters were imprisoned, including newspaper editors, judges, lawyers, and legislators.
An estimated 13,000 people were arrested. Lincoln ignored Chief Justice Roger Taney’s judgment which ruled that the President’s actions were unconstitutional. Lincoln used the might of the State against pro-South newspapers.
1917-18: Under Woodrow Wilson imprisoned Socialist leader for years
Distrust reached the zenith during WW1 when American citizens were suspected of being German spies. The US Congress and President Woodrow Wilson approved the Espionage and Sedition Acts. The acts gave the US Government authority to censor foreign language press, restrictions against use of US Mail by antiwar publications. After this if any one did express ‘disloyal’ or antiwar sentiments; they could be imprisoned. Suspects were targeted by the Espionage Act (1918). In a familiar routine, all dissenters were smeared as Wobblies, legal proceedings instituted against them and imprisoned. John Reed, (writer of Ten Days That Shook The World, about the Bolshevik Revolution), captured these sham trials, reporting from the Chicago court.

An estimated 2,000 people were prosecuted. Eugene V. Debs, a Socialist candidate in the Presidential race, was sentenced to 10 years in prison. Charles Schenck, an author against the draft was also imprisoned. The US Supreme Court, in their long tradition of rubber-stamping many abusive laws, upheld Schenck’s conviction.
1942: 120,000 residents of Japanese Descent Interned
After the Pearl Harbor attack (1941), President Franklin Roosevelt signed an executive order to set up a concentration camp for 120,000 Americans residents of Japanese descent – two thirds of them, US citizens. Their crime – their Japanese descent. They were released four years later, in 1946 – one year after the surrender of the Japanese forces. Enemy Japanese soldiers were released earlier than US citizens were! The US Supreme Court rubber stamped this decision also. Some 40 years later, in 1988, the US Congress granted surviving internees $20,000 each. A proforma official apology from the US government was also conferred on these American citizens.
1949-54: McCarthy era – Communists imprisoned
During 1950s, American leadership fanned fears of an imminent communist takeover of the world. Eisenhower stoked the fires of anti-communism and proposed the Domino Theory. Sen. Joseph McCarthy led this crusade against ‘communist traitors’. This paranoia led to the prosecution of leaders of the Communist and Socialist Parties under the Smith Act (1940). This law, 10 years after its, in its 10th year was used with devastating effect. This act made it a crime to advocate violence against the government. Some individuals were sentenced to prison for studying works of Marx and Lenin. Once more, the US Supreme Court again rubber stamped convictions under this Act.
Most egregious was the McCarthy era. The persecution of dissidents in the world’s largest democracy was no less than in any military regime. Left leaning Hollywood personalities were implicated in fabricated cases and criminal charges foisted on them based on thin (or no) evidence. The Hollywood Ten (Alvah Bessie, Herbert Biberman, Lester Cole, Edward Dmytryk, Ring Lardner Jr., John Howard Lawton, Albert Maltz, Sam Ornitz, Adrian Scott and Dalton Trumbo) were banned by the Hollywood corporations. Under pressure from the Government, Hollywood’s production corporations, blacklisted alleged Communists. Eric Johnston released the Waldorf Statement on behalf of t he Hollywood studios.
For many years, after the end of the witch hunt, these Hollywood corporations continued with the blacklist. Popular press targetted all the witnesses who co-operated with the House Un-American Activities Committee (HUAC) Hearings and Senator Joe McCarthy – but not the perpetrators of the witch hunt. Heads of these Hollywood corporations (who could have resisted) and figures of authority like Eisenhower, Truman, McCarthy, J. Edgar Hoover and the various perpetrators went scot-free. Victims, like Elia Kazan, who collaborated, under pressure, were smeared as rats and further persecuted.
1996-2006: New laws – Secret evidence, for those on the death row
After the Oklahoma city bombing, by Timothy McVeigh, many laws were passed. The infamous Patriot Act is one such specimen on display. Congress passed other counter-terrorism laws limiting habeas corpus. But what takes the cake is the restriction on appeals for death-row inmates. Who can imagine that any law can restrict appeal against a death sentence. Any system of jurisprudence will be very circumspect about passage of such laws. But not in the land of the free.
These laws also allowed discriminatory behaviour by the US Government towards immigrants, suspected of terror activities, to be detained and deported based on ’secret’ evidence.
Another Tom Tom Dance
The Great American Melting Pot was another music to which American’s did a tom-tom dance. Rightly so. They managed to melt everyone into one WASP profile. No other languages were allowed. For 200 years (nearly), Catholics (Red, White or you) could not become President in the land of the free. It took a rich Catholic man (never mind how the Kennedy clan got their money) to become the first non-WASP president. Till such time, that the Italians maintained their identity, they were kept at the fringe of American society. We are not even started on the Blacks and the Native Americans.
Americans were not allowed to learn or teach non-English languages for the best part of 200 years. All other language groups had to become American by giving up their own languages – and adopt the language of the land of the free.
America created the Monroe doctrine – supposedly an anti-colonial doctrine. But they anyway went ahead and ‘bought’ Philippines and Puerto Rico – also Cuba. The Cubans refused to honour this ‘purchase’ – for which the USA has waged a war against Cuba for the last 100 years.
The USA also conspired to remove the Queen Of Hawaii – for which the US has now apologized, yet again. Of course, I am not an expert on the American Constitution! Was this allowed under the American Constitution? I mean, the apology!!
The new glory of the US Constitution that the Americans now espouse is the establishment of the Federal Reserve. Some claim that the Federal Reserve was not a part of the original constitution.
After the Propaganda Slayer, PT Barnum pointed these aspects of Great American History, I am lost. Completely.
Can someone tell me what was there in the original American Constitution? Equality! Freedom! The Rule of Law?!
Manmohan At ‘The High Table In The Comity Of Nations’
Manmohan Singh Hankering For A Place On The High Table
At The High Table
In 2006, Bush promised India a place at ‘the high table’. A conference paper noted that “In India, the shift in diplomatic strategy necessitated by the opportunity to sit at the high table, because of the nuclear deal, and participate in nonproliferation, as well as become a member of the nonproliferation system, appears stalled owing to apparent timidity or the persistence of yesterday’s thinking”.
Fareed Zakaria writes about how some (!) countries want a place at the high table. Sitaram Yechury, CPIM, of course, thinks the deal will no such thing as enable India to sit on the high table. President Sarkozy and Tony Blair have been leading India by the nose, proclaiming that India should get a place at the high table. India’s quest for a seat at the high table in the global comity of nations, puts India in a position of being patronized. A senior American official condescendingly says that the US wants to be “helpful” to India as it “emerges as a world power”.
The Comity Of Nations
And Manmohan Singh keeps getting his kicks at the thought of sitting at “the global comity of nations“. His comment after winning the trust vote was, “India is prepared to take its rightful place in the comity of nations.” A year earlier, he wrote in a newspaper, how India has “earned … a special place in the comity of nations.” And in 2005, Manmohan Singh promised landless farmers, that India “in the next 10 years … earn its rightful place in the comity of nations”. But before that, in February 2005, he had informed at the India Today Conclave in New Delhi, how India must recover its “lost space in the global economy and our economic status in the comity of nations”. (ellipsis mine).
On July 29, 2005, after his US visit, it was reported that Manmohan Singh could not inform the Indian Parliament exactly how “tall in the comity of nations” India was standing. He decided that the focus in 2005 will be on making India “taking its rightful place in the comity of nations.” In 2006 again, he reminded all Indians “to claim our rightful place in the comity of nations”. But he started this story way back in 1995-96 budget when he announced that he planned to “raise India to her rightful place in the comity of nations”

Wish Manmohan Could Talk Like This
Manmohan Kyon Darta Hai
Manmohan Singh was reportedly hesistant to travel for the G8 summit without a nuclear deal go ahead. With what face will India’s Prime Minister engage the G8 leaders, occupied the Government’s attention?
Manmohan’s fears were captured by Prem Shankar Jha, a journalist from New Delhi’s main newspaper, The Hindustan Times. “India’s retreat from the agreement bordered on disaster. “It may not be the end of the world,” he wrote, “but it will be a very long time before we are invited to the High Table again.”
Sonia’s Sets The Precedent
This is much like Sonia Gandhi’s Belgian medal. Her reluctance to give up that tainted piece of metal was sad – as is Manmohan Singh’s hankering to “sit at the high table” and to join “the comity of nations”. This ‘comity of nations’ and ‘the high table’ are verbal markers for rich nations – especially the West.
Craven Desire For Approval
What about the West attracts you, Mr.Singh? What makes you so eager (if not desperate) to join them and sit with them? What is the legacy of the West? What about the West can we copy? This hankering for Western approval does not behove you, Shrimaan Singh! India will get its place in the sun – without these doomed slave societies.
Whose Agenda Is This
Who exactly, Mr.Singh gave you the idea that it was your job to make “place for India at the high table in the comity of nations?”
The Indian Voter didn’t.
The ‘aam aadmi’ didn’t. There was no mention of ‘India at the high table in the global comity of nations’ in the Congress manifesto – or in the Common Minimum Programme. In fact, when the BJP promised ‘India Shining’ to the Indian Voter, he clearly rejected them. Are you marching to the BJP’s tune? Or are you sneaking in your personal agenda to rub shoulders “at the high table in the comity of nations that is driving you.” Mr.Singh, do you realize that this is a fraud.

Look At Who Is Sitting At The High Table Mr.Singh
With Or Without The West
For 60 years, India has managed, in spite of the West. India’s defense production, its nuclear program or its space program and its India’s software success are homegrown. As are its successes in industry, stockmarkets, education, films and television programming, its democracy and the rise of its middle class. In the nuclear industry, India’s thorium approach to nuclear energy design will possibly open new realms in nuclear arena. At various times, when India has been stuck, it has been the West that has pushed India further into a corner. Even in matters of foodgrain, when India was a user of PL-480 grain. Or for instance, the Kaveri jet engine or the cryogenic engines.
Look Ma, Who Is Sitting At The Table
George Orwell’s Animal Farm describes another high table – when the Pigs sat down to eat with the human beings.
A week later, in the afternoon, a number of dogcarts drove up to the farm. A deputation of neighbouring farmers had been invited to make a tour of inspection. … What could be happening in there, now that for the first time animals and human beings were meeting on terms of equality? … There, round the long table, sat half a dozen farmers and half a dozen of the more eminent pigs … Twelve voices were shouting in anger, and they were all alike. No question, now, what had happened to the faces of the pigs. The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which. (ellipsis mine).
Shrimaan Singhsaheb – Does India need a seat at this high table; a table where the other seats are taken by countries who have brought humanity “under the heel by means that will not bear scrutiny“. Do we need to sanctify the power gained by these slave masters? Does the wealth gained by loot and prosperity by labor seem equal to you? Does wealth gained by fraudulent practices ennoble the wealthy?
Post Script
One week after this post, Arvind Panagariya, a professor from Columbia University and a Senior Fellow at the Brookings Institute, wrote how “the emerging giant can accomplish something the diminishing giant couldn’t!.” Both, Manmohan Singh and Arvind Panagariya seem to be infected with this strain of imported virus. The main symptom of this infection is this overwhelming desire for Western approval. At least, the professor admits to the reality of the ‘diminishing giant’, though, he seems to equate a giant of brute force with a moral one.
Another well known corporate executive, R. Gopalkrishnan, is afflicted by this same ‘comity of nations’ infection. On 15th August, 2008, in an article in Economic Times, he paid obeisance, by quoting JRD Tata who once said, “I do not want India to be an economic super-power . I want India to be happy.” By the end of the article, he reverted back to his usual self. He intones, “Over the coming decades, India has the real chance of reclaiming its place at the top table in the League of Nations, a position she held for centuries but lost in the last few hundred years.”
The World Financial System – Shape of Things To Come …
The US President, flanked by Treasury Secretary, Jack Fleischacker, and Paul M.Gruber, Governor, European Central Bank, in a stunning move, announced the merger and re-capitalisation of the IMF and World Bank – a plan to rescue world economy. 
IMAR
The new entity has been named as International Monetary Authority & Reserve (IMAR) – and will operate from Paris. It has been given the responsibility for world’s economic stabilisation.
The Governing Council Members will initially comprise of 3 internationally respected financial authorities and investors. The Chairman is likely to be Barran Wolfet and his team members are Sorg Goros and Rim Joggers. “The selection of the Governing Board was done on the basis of consensus and the expertise of the incumbents. This is not the time for being narrow – when the future of the global financial system is at stake.”, said Governor Gruber.
Capital Subscriptions
The US has subscribed to promissory notes worth 25,000 tons of gold, currently held at Fort Knox. The ECB will subscribe to the tune of 20,000 tons of gold – to be held at various European national Government vaults. Australia and Canada have also announced subscriptions to the tune of 10,000 tons of gold each to be held in bonded vaults at Montreal and Canberra respectively. Britain and Switzerland have committed 5000 tons – out of the Bank of England and Schweizerische Nationalbank
(SNB) reserves. These countries will be allocated voting rights proportionately, based on IMAR gold reserve subscriptions.
The US dollar will now be backed by IMAR promisorry notes – which President Jack Boucher, asserted will create confidence in the US dollar – and in the world financial system.
Governor Gruber remarked,”The Bretton Woods Agreement has facilitated a “historic economic expansion in the global trade” – and this new measure will further strengthen the Bretton Woods system. IMAR single-point agenda is stabilization of the global economy.” Country reserves will be nominated on the basis of IMAR promissory notes – and countries will report on these regularly. Total monetary aggregates for the national economy will also see a change. “Old economic measures like M3 money figures will no longer be relevant in the era of derivatives and options”, said Gruber.
The ASEAN, Chinese and Japanese Governments have cautiously welcomed this move, with a joint declaration saying “this will hopefully lend some stability to the US dollar – and the trillions of reserves that we maintain”. The new martial law administrators in the South African Government are due to the announce their subscriptions soon. Saudi Arabia, Iraq, the UAE and Singapore have announced that they will be committing substantial assets towards their share of subscriptions. Russia is still undecided - and expected to approve soon.
Criticism
India has criticised the move strongly. Prime Minister, Sonia Gandhi said, “this new system will perpetuate existing economic systems and divisions.” Iran’s President, Mohammed Hussaini bluntly dismissed this development and said, “the developing world will not have a voice in the new organization.”
The new Indian Finance Minister Banta Singh said,”This will not help in restructuring the international finacial systems. This is not the ‘new financial architecture’ that we are want.” When asked what his ideas were were declined to reveal them, as “it too premature.”
The IMAR Governor, Wolfet rejected the criticism, saying, “IMAR will be a international body – for implementing a rescue plan for the world economy. Developing Countries will have 50% representation on the Director’s Register. They, can get even higher voting rights by increased subscriptions. Our past experience shows that countries print currency – and risk global financial equilibrium. We cannot allow that to happen again.”
US and the EU have also announced a doubling in aid allocations. Instead of outright grants in aid, transfers will now be based on mutual trade norms. African countries, for instance, will be able to develop trade with the West – while receiving aid. EU and USA will commit to specific trade volumes, such that Africa will be able to develop, for instance, its mining and resource based industries.
Currency Fluctuations
Governor Gruber claimed that “currency fluctuations are a thing of the past, as trade will now be denominated by currency demand and supply. International currency acceptance will be determined by IMAR reserves of each currency system.”
Gold Reserves
The most interesting part of this development is the quantum of gold being committed by the subscribers. The ECB and the Federal Reserve have been able to fulfill their subscriptions based on gold reserves that they have enhanced in the last few months.
It is being whispered that Barran Wolfet and his team members, Sorg Goros and Rim Joggers had played a major role in the enhancement of these gold stocks – and the formation of IMAR. Initially named as Global Financial Reserve Authority for Development, the IMAR idea was first tossed out over a dinner at the famous Les Ambassadeurs eatery – which offers a classic cuisine by the Ducasse-trained chef, Jean-François Piege.
Want to decode this news? What this really means for you! Ask St.Barnum, The Propaganda Slayer.
Post Script
On 8th October, 2008, it was reported, that both the Republican and Democratic candidates concede that Warren Buffet …
would be a good replacement for current Treasury Secretary Henry Paulson who is standing down at the end of the current administration.
“I think the first criteria, would have to be somebody who immediately Americans identify with. Immediately say we can trust that individual,” said McCain. Buffett, chief of the Berkshire Hathaway holding company, has supported Obama in the race for the White House.





Filmi Stereotypes
for obvious reasons. Colonial bureaucrats (and their successors, the IAS) covered their incompetence and corruption with this lopsided image of the neta. Indians politicians are possibly as corrupt as any others in the world.


Behind Indian Success









A cabal of Black conspirators sniffed out Jefferson’s secret – his greatest ideas (listed above) came when he dined alone.What followed was diabolical.To stop further such ideas, they recruited Sally Hemmings on a suicide mission.

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