MONEY !!!

[app_engine]

Probably villainized by Thamizh Cinema, this is a useful tool yet not a cure-all for everything.

The main goal for a lot of people in life even though they cannot carry this at the completion of the project (end of life) :-)

Let's discuss on everything related to money here and try to keep this interesting. It would be nice if experts give answers to specific questions of hubbers!

[app_engine]

Let me start with a doubttu -

From childhood, I've been fascinated with this concept of 'swiss banks'. (I still remember the muthu comics story '10 dollar nOttu' where the swiss account number of a character is the number on a 10 dollar bill).

While it may be easy to deposit legal money in these (How ? Exchange your hard-earned money into US$ / acceptable currency and do a transfer or carry and deposit etc), how do people deposit into these banks their "black money"? My doubt is because "black money" may be in Indian Rupees and how will one get huge amounts of foreign currency without some involvement of banks / authorized agencies that will have to account and pay tax / report?

[dev]

app_engine, hawala irukke!!!...

[app_engine]

What exactly is this 'hawala'?

[app_engine]

I did a google search and there is some info on this wikipedia article,

http://en.wikipedia.org/wiki/Hawala

but still not sure how an average politician / govt. official in India can use this net work?

[sarna_blr]

I did a google search and there is some info on this wikipedia article,

http://en.wikipedia.org/wiki/Hawala

but still not sure how an average politician / govt. official in India can use this net work?

question'layE answer irukku :P

app_engine, black-money'yo white-money'yo, panam irundhaa podhum , indhiya thirunaattula enna venumnaalum pannalaam(with some exceptions) :evil: :twisted:

[dev]

app_engine, even common man can do hawala on small scale...:) I have seen it being done by some NRIs...

[app_engine]

app_engine, black-money'yo white-money'yo, panam irundhaa podhum , indhiya thirunaattula enna venumnaalum pannalaam(with some exceptions) :evil: :twisted:

பணம் இருந்தா என்ன பண்ணலாம் என்பதல்ல கேள்வி, பணத்தை என்ன பண்ணுவாங்க என்பது தான்:-)

I understand the concept of "hawala" (crudely explained by Shankar in the movie Shivaji - the hero transferring the looted black money to international banks to make it white). While it looks so 'simble' on movie screen, transferring large amounts to swiss bank in regular life may not be that easy, IMO.

[app_engine]

Though the accuracy of the numbers is anybody's guess, a very interesting article...

http://news.in.msn.com/national/indiaelections2009/article.aspx?cp-documentid=2843719

[Roshan]

Nice topic 8-)

Thanks a_e :)

[app_engine]

http://articles.moneycentral.msn.com/Investing/SuperModels/mad-world-chinas-bind-is-ours-too.aspx

Fantastic article!

One which totally reflects what I have been wondering all these years, with so much of Chinese goods sold in U.S. and hardly anything "practically worthwhile" to export to China from U.S. What they have comparitively surplus may be food / entertainment & software / technology. The first one may have transit costs and hence may not fetch a lot of money to balance out imports. As for the second & 3rd, less said the better (piracy).

It's going to be really interesting (affecting most of us) when these continue to accelerate their MAD mode ...

[app_engine]

http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches.aspx?post=1223435&_blg=1,1224887

The U.S. fiscal position is ugly!

வரவு எட்டணா, செலவு more than பத்தணா :-(

Already there are serious problems w.r.t gov programs for seniors (social security / medicare) and now the "healthcare for all" debates are heating up.

I've also read a report yesterday on continued deficit in trade (less exports - more imports, gap increased with China etc).

Combine these with the on-going problems of increase in unemployment, abysmal prices of real estate etc. The coming generations in U.S. will definitely suffer a significant loss of quality of life, IMO, despite the newer inventions / gadgets etc.

[app_engine]

From the readers in msn.com as a response to their article on "low consumer confidence"

http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches.aspx?post=1225953&_blg=1,1225953




And you forgot to mention the national debt, somewhere between 11 and 16 trillion dollars (it might even be higher, who knows... 1 billion multiplied by 11 or 16 thousand or more). Incredibly, the public still supports organizations like the NFL and NBA who shower their players with $97.5 million dollar contracts, while the rest of us are finding it hard to sleep at night, worrying about how we are going to make it through the rest of the month and pay our bills. This nation no longer has any priorities, or scruples in my opinion. It is so ironic how our elected leaders get on their soapbox and lecture other countries about their domestic problems, while turning a blind eye to all of this. Sadly, the USA today reminds me of the Roman Empire in its final death throes. I like President Obama as a person, but how can he possibly say that "America's best days are ahead"?? Does he honestly believe that? When greed reaches the toxic proportions it has here (i.e. a CEO making 1000 times more in salary than his workers) "recovery" is just a myth. The 2 or 3 percent of the mega-wealthy in this country destroyed it with the complacency of a corrupt and self-serving congress. I fear that institutions like the judiciary that legislate from the bench are morally bankrupt, and I don't have much hope for this country. Believe me, I hope that I am mistaken.


Very insightful!

[app_engine]

http://dailythanthi.com/article.asp?NewsID=509418&disdate=8/24/2009

Swiss banks won't disclose account info to gov of India.

They probably know that those who deposit are never going to withdraw anyways, so all the money is owned by banks now and they can do whatever they want :-)

Next we can expect another announcement (i.e. in my imagination):
"We won't disclose details to any of the Indian account holders as well" :-) (அது கருப்புப்பணமும்மா...திருடனுக்குத்தேள் கொட்டின மாதிரி - பொத்திக்கிட்டு இருக்கணும் - வேண்ணா, எனக்குப்பாதி, உனக்குப்பாதி)

[app_engine]

A nice comment on the yahoo article about stock market's drop today :

http://news.yahoo.com/s/ap/20100416/ap_on_bi_st_ma_re/us_wall_street



When did the stock market become Las Vegas? It's a game of chance now and nothing more. 15-20 years ago people bought STOCK in a company because of what it stood for, and the interest and dividends it paid. People took the time to evaulate the COMPANY. Now stocks are bought and sold on a whim. Day traders buying, selling, short selling all to make a quick buck. That's not why the market was created. It was a vehicle for companies to raise capital to reinvest. Now company stock value swings on absurd reports like "they didn't lose as much as we expected" so the stock rises. And then a stocks value falls because the company's profit wasn't waht was deemed by Wall Street as acceptable. It's a joke for the average investor to look at the stock market. It's a big boy's game and they manipulate as they see fit. COME ON SIX! SNAKE EYES! Busted.

[Sudhaama]

.

I cannot preach Sermons to Others--


--If I am a Devil -- by VIOLATING it.!



Day by day-- Nationally and Internationally.--


--Why and How the Rich are growing Richer and Richer--

--while the Poor are deteriorating Poorer and Poorer ?



Why most of present Nations are STARVING or Struggling for Money.?





What exactly is this 'hawala'?

Briefly speaking---

Hawala is Totally an "OFF THE RECORD" Money-transaction.. based on EXCLUSIVELY MUTUAL TRUST.

And such a Trust-worthiness is Cent per cent maintained so far UNFAILINGLY by the Team of Network internationally.

Why named HAWALA.?

It is a Hindi name. Hawa means Air / Wind.

Hawala means transactions INVISIBLE -- conducted through the invisible Air by Phone-communications.!

-- similar to Postal Money Order transactions conducted by the Governments--

--without moving the Money from place to place.

Although I have never indulged in such dishonest practices of shady transactions--- ever in my Life--

--(even while I was a Technical Director of a Professional Business Company dealing in Crores of Rupees in India)--

--- I came to know of it, through my intimate friends.

How HAWALA is performed.?

Suppose I want to send from America-- One Million Dollars to my Friend "app" in India--

--by Not only Off the Record--

-- but also urgently--

--then Hawala system of transaction can be quite handy for me.

I must personally and SECRETLY contact one of the recognised Hawala Agents (spread over the whole world-- especially Marwaris reputed for Trustworthiness) ---

-- Give him the Money and Destination Address of the PERSON (Not an Organisation) plus the stipulated Commission--

--More the Commission percentage for the Sum lesser and lesser (rather if I send Crores, the % is lesser. If in Lakhs it will be more)

-- plus also one more factor for Higher and higher rate of Commission commensurate with several sorts of Risks involved for those Passing Agents -- even upto 100 % or more too.! -- a matter of BARGAIN.!

--( So to mean -- if I want to send One Million Dollars, I may have to spend the equal amount of One Million Dollars or more too -- as the Transactors' Commission.!)

--all by cash --

No Receipt given, nor recorded nor documented openly...

-- but a small blank paper slip with some scribbling of numbers and Hindi letters. That is all to quote for their reference in case of any complaint from the sender in future

But the organisers maintain a Secret Record in some strange Code Language amongst their own.-- which nobody else can decipher.

That is all. You can be rest assured on the rest of the task.

Yes. Next day My friend "app" will call me and inform that my money has reached him safely securely-- and Off the Record, in Black form

Suppose any middleman, unexpextedly turns disloyal and insincere, eventually my One Million Dollars is swallowed by any third party.???

-- Haro Hara.!! -- That is all.! I have to lose not only my Sent Money --

--but also the whole Hidden-plan and target intended behind. -- No other go.

If such a clandestine transaction slips somwhere enroute and comes to light of any Government concerned and consequently caught --

-- at any time-- DURING OR AFTER.?

Not only my Sent- Money plus the Concealed Plan and the Target behind-- will be lost--

--but also further several cumulative problems-- coupled with shameful consequences...

---FOR ME -- the Sender-- only only only !

So much of Risk.!

Why Not the Straightforward Gentlemen at least --- be strict -- not to have such underground deal.?

Impossible.!.. Even if any major Businessman concerned wants to be HONEST.--

--He will not be able to apply such an Ideology in practice.! Why.?

Whether I or anybody relishes such clandestine transactions or not--

-- we have to reluctantly accept the Ground reality.!-- although Bitter.!

Yes. I have practically found by observation on several stalwarts in Business, --


Now-a-days No Business can Thrive-- without BUFFER MONEY--

-- in BLACK shape--

-- mainly for the sake of PAY-OFF (Business Language) ---

-- named as BRIBE (Governments and People's Language)

--under the present context all over the World--

---especially in our Great India. !!!


Mainly because-- now a days Business has become A BATTLE--


-- NOT A RACE Nor a COMPETITION -- although intended so by sense-

-- and expected so by the People as well as the Governments in general.

Who is the Culprit.?

Mainly some of the Governments--

-- and most of the SUCCESSFUL Politicians.!

-- especially in the present India!

..

[app_engine]

An interesting article - how rich is rich:

http://finance.yahoo.com/focus-retirement/article/110295/how-rich-is-rich?mod=fidelity-buildingwealth&cat=fidelity_2010_building_wealth

[Sudhaama]

.

Money is ONE OF THE NEEDS for Life.!

-- Not the ONLY NEED--

--Nor the GOAL for REAL HAPPINESS.!

-- Nor the purpose of Life is ONLY EARNING MONEY and then

--KEEP IDLE during Youthful stage.!

--Impracticable.!


An IDLE MAN can NEVER BE HAPPY nor Peaceful.!



Money-mad person can become ...

-- only as a "POOR MAN in Palace".

-- with NO GOOD HEALTH --- NO PEACE OF MIND.!

-- Having several Wives and Concubines,

But the Owner Rich-Man may become IMPOTENT.!



An interesting article - how rich is rich:

http://finance.yahoo.com/focus-retirement/article/110295/how-rich-is-rich?mod=fidelity-buildingwealth&cat=fidelity_2010_building_wealth


In Reply, in the same Magazine, on the Article, this is the MEANINGFUL Comment --

--by REALITY OF LIFE.!







A rich man is not the one who has the most,

--but is the one that needs the least.


I live a very simple life and am quite happy with less than 10k a year.



.

.

[app_engine]

Don't miss this interesting article on the Gates-Buffett induced billionaire-charity thingy (http://finance.yahoo.com/career-work/article/110376/billionaires-who-havent-taken-the-pledge?mod=career-leadership)

[app_engine]

This is only meant for billionaires (which most hubbers are possibly not), an interesting read nevertheless :

http://givingpledge.org/Content/media/GivingPledge_FAQ.pdf

[Sarna]

1 dollar = 1 rupees.... indha maadhiri oru naalum varaadhaa ?

the currency all over the world should be equal in value..... I am expecting this to happen very soon.

[raagadevan]

money money money...

http://www.youtube.com/watch?v=WCkOmcIl79s&feature=related

http://www.youtube.com/watch?v=AYh8R02dG_c

http://www.youtube.com/watch?v=AnuA2Wmlq-Q&feature=related

[app_engine]

Credit card with 79.9% interest rate (http://finance.yahoo.com/news/Credit-card-had-a-799-APR-cnnm-137006553.html?x=0#mwpphu-container)