By buying the dollar, RBI is essentially forcing all of India to get less for more.

• The Reserve Bank of India (RBI), under Raghu Ram Rajan, has accelerated the lending of poor peoples money in India, at near zero percent interest rate, to the U.S. government (see the graphic above).

• The Federal Reserve is printing more and more and more.In 1926, Montagu Norman, head of the Bank of England and Benjamin Strong, Governor of the Federal Reserve Bank of New York, used all the resources at their disposal to defeat Basil Blaketts plan to establish a full gold standard in India.

• Under the Soviet influence, the RBI did not collect the notes printed in the U.S. After the collapse of the Soviet Union in 1991, the RBI started collecting dollars as reserves.

• The U.S. printed the dollars, and the RBI collected them from exporters, transferring the wealth of savers and producers (weavers and fishermen) in India to consumers in the U.S. (people of Atlanta) and a few exporters (masseurs) in India.

Here are some other news items:^{credits to u-sr33}

• More important than rate cut is banks passing on rate cuts: Tirthankar Patnaik, Mizuho Bank

• HMT GM leaps to death from 45-ft high water tank in factory

• Won't give free spectrum to telecom operators: Ravi Shankar Prasad

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