Tuesday, November 24, 2009
SMF1948
Swiss Cash 1948
Really good response, and I appreciate it very much.
One last issue...they bank with Barclay's, so that implies that
Barclays has checked them out to some degree, and must monitor the
deluge of funds coming in to their account...
Their details are:
Beneficiary Name
SMF International Limited
Beneficiary Account No.
64038388
Beneficiary Bank
Barclays Bank PLC
Beneficiary Bank Address
13 Library Place, St. Helier, JE4 8NE, Jersey
Bank Branch Sort Code
204509
Bank SWIFT
BARCGB22
IBAN
GB59 BARC 2045 0964 0383 88 (For European Wire Transfer ONLY)
Beneficiary Address
Union Square Building, Elizabeth Avenue, Nassau, Bahamas.
Currency: United States Dollar - USD
Can you look into this, and see if there this SMF International is
perhaps legit in some way?
Really good response, and I appreciate it very much.
One last issue...they bank with Barclay's, so that implies that
Barclays has checked them out to some degree, and must monitor the
deluge of funds coming in to their account...
Their details are:
Beneficiary Name
SMF International Limited
Beneficiary Account No.
64038388
Beneficiary Bank
Barclays Bank PLC
Beneficiary Bank Address
13 Library Place, St. Helier, JE4 8NE, Jersey
Bank Branch Sort Code
204509
Bank SWIFT
BARCGB22
IBAN
GB59 BARC 2045 0964 0383 88 (For European Wire Transfer ONLY)
Beneficiary Address
Union Square Building, Elizabeth Avenue, Nassau, Bahamas.
Currency: United States Dollar - USD
Can you look into this, and see if there this SMF International is
perhaps legit in some way?
Tuesday, October 13, 2009
www.pch.com/surprise win $5000 a week for life with publishers clearing house
The Publishers Clearing House ( www.pch.com/surprise ) has made it easier than ever to get the prize van to bring you a giant text. Just go to the site and fill out the quick entry and you will be entered to win the $5000 a Week for Life SuperPrize.
"February 29th SuperPrize Event
Giveaway No. 1170: We will be taking a Special Early Look for a SuperPrize winner from Giveaway No. 1170. All Special Early Look bulletins/promotions during the timeframe of 12/10/07 through 2/19/08 will be assigned valid SuperPrize Numbers fully eligible to win Giveaway No. 1170 on February 29, 2008. SuperPrize Numbers assigned from 12/10/07 through 2/19/08 will also be fully eligible to win a guaranteed $1 Million SuperPrize on February 29th in a Second Chance Drawing if the matching winning number for this Special Early Look SuperPrize is not returned or is ineligible. Your entry will be dated immediately upon receipt. All you need to do to participate in the winner selection process is to enter by the deadline."
Then watch NBC February 29th to see who won, or if you won just look for the van in your drive way.
"February 29th SuperPrize Event
Giveaway No. 1170: We will be taking a Special Early Look for a SuperPrize winner from Giveaway No. 1170. All Special Early Look bulletins/promotions during the timeframe of 12/10/07 through 2/19/08 will be assigned valid SuperPrize Numbers fully eligible to win Giveaway No. 1170 on February 29, 2008. SuperPrize Numbers assigned from 12/10/07 through 2/19/08 will also be fully eligible to win a guaranteed $1 Million SuperPrize on February 29th in a Second Chance Drawing if the matching winning number for this Special Early Look SuperPrize is not returned or is ineligible. Your entry will be dated immediately upon receipt. All you need to do to participate in the winner selection process is to enter by the deadline."
Then watch NBC February 29th to see who won, or if you won just look for the van in your drive way.
Thursday, September 24, 2009
Monday, August 31, 2009
Saturday, August 29, 2009
'Swiss black money can take India to the top'
Indian money stashed in the Swiss Bank has become a focal point of debate, especially after the Leader of Opposition and the Bharatiya Janata Party's [ Images ] prime ministerial candidate L K Advani [ Images ] raised the issue on Sunday. If elected, the BJP has vowed to bring the black money back home. Though the Congress dismissed the idea, the Swiss bank issue is slowly becoming a hot election issue.
In fact the BJP also plans to carry out a mock election across the country on April 6 where people will have to cast their vote indicating whether Indian money in Swiss banks should be brought back to India or not.
During his address, Advani said the BJP will form a task force comprising experts to prepare a strategic document for India to recommend ways to get back the national wealth stashed away illegally by corrupt politicians, businessmen and criminal overlords.
One of the names he mentioned in the task force is Professor R Vaidyanathan, Professor of Finance at the Indian Institute of Management, Bengaluru [ Images ].
In this exclusive interview to rediff.com's Vicky Nanjappa, Vaidyanathan explains in detail the importance of bringing back the ill-gotten wealth and how the money got there in the first place.
Firstly how much Indian money do you think is stashed away in the Swiss Banks?
In 2006, the most recent Global Financial Integrity study, developing countries lost an estimated $858.6 billion (about Rs 43 lakh crore) to $1.06 trillion (abot Rs 51 lakh crore) in illicit financial outflows. Even at the lower end of the range of estimates, the volume of illicit financial flows coming out of developing countries increased at a compound rate of 18.2 percent over the five-year period analysed for the study. On average, for the five-year period of this study, Asia accounts for approximately 50 percent of overall illicit financial flows from all developing countries.
This report shows that the average amount stashed away from India annually during 2002-06 is $27.3 billion (about 136,466 crore). It means that during the five-year period the amount stashed away is 27.3x5=136.5 billion (about 692,328 crore). It is not that all these amounts went to Swiss banks. It has gone to different tax and secret shelters. The share of Swiss banks in dirty money being a third of the global aggregate, some $45 billion out of the 136.5 billion stashed away from India would have been hoarded in these years in Swiss banks.
The important point is that this is only for five years. More amounts were stashed away during the Nehruvian regime. So the loot for 55 years will be several times higher. In fact, in those days the rupee commanded a better value per dollar. So fewer rupee could get more dollars. So the estimation that the Indian money stashed away may be of the order of $1.4 trillion (about Rs 71 lakh crore).
On what basis have you come to this conclusion?
There is a lot of literature available as to how to estimate the illicit financial flow from developing countries. We find out what the nature of the flow is. I have also relied upon the study Illicit Financial Flows from Developing Countries: 2002-2006 Global Finanacial Intergrity authored by Dev Kar and Devon-Cartwright Smith, a project of the Ford [ Images ] Foundation. Financial flows in the context of this report includes the proceeds from both illicit activities such as corruption (bribery and embezzlement of national wealth), criminal activity, and the proceeds of ilicit business that become illicit when transported across borders in contravention of applicable laws and regulatory frameworks (most commonly in order to evade taxes).
Which are the various tax havens, where the ill-gotten wealth of Indian businessmen and politicians are stashed?
There are presumably more than 70 tax havens in the world. Indian wealth could be more in Switzerland [ Images ] and various British /US islands. At least 40 countries market themselves aggressively as tax havens [Source: Internal Revenue Service USA on Abusive Off-shore Tax Avoidance schemes –Talking Points Jan 2008]. The well-known tax havens are Switzerland/ Liechtenstein/Luxemburg/ Channel Islands etc.
Could you elaborate and tell us how the money got there in the first place?
There are several methods/reasons. Under invoicing/over invoicing of exports and imports and getting the balance stored abroad. Kickbacks from major defense/civilian contracts. Not bringing the earnings abroad. In the old days smuggling of gold and illegal money. Transactions done abroad and not reported here. Hawala funds. Funds earned by artists/ entertainment industry /sports people and stashed abroad. When you want to indulge in adharma, hundreds of ways are open!
We would like to know the terror connection. Do you think even terrorists are stashing away cash and using the tax haven route to send across money all over the world, to finance their activities?
M K Narayanan, our National Security Advisor, has spoken about it in Berlin recently.
Advani says that it is important to bring this money back. How can the government go about it and what are the various ways in which India can get its money back?
Put it on the Global Agenda. Put it in G-20. Put it in the International Monetary Fund. Put it in Egmont Group. Also take a lead among all developing countries. Support US /German/French efforts.
If India decides to take the initiative, will the Swiss authorities cooperate?
It is not due to our pressure but that of US which will make them co-operate. When a family is in deep financial crisis then it tries to look at the small amount saved under the sugar jar by grandma. Same way developed economies are desperate for every dollar. Even if we do not act due to their efforts the list of crooks may be out, then we will be in a dangerous social situation since the who's who of India will be there. Instead we should get it and get the funds and decide on the steps to sterilise it. Otherwise, the world will laugh at us.
Politicians sure must be having a lot of money in Swiss Banks. Do you think this factor will deter the government from acting?
Public pressure will make them do it. Plus, the evolving global situation against tax havens. The money belongs to the poor farmers and unorganised workers of India. Also, Indian businessmen have a lot of their ill-gotten gains in these banks. The world situation is such that Indian businessman will want to bring it back now given the attractive returns in India.
Do you think that the Indian government should demand all the Indian black money in Swiss banks?
Of course. India should and must act. We are not a banana republic.
You wrote in your column that the German foreign intelligence agency BND got names of 1,400 clients of the Liechtenstein-based LTG bank who were supposed to be suspected tax evaders. Of the 1,400, 600 were supposed to be Germans. Do you think of the remaining there will be Indians as well? Has the Indian government approached the German government for the list?
Indian names will be there. Our tax evaders and crooks are like the omnipresent Maha Vishnu [ Images ] -- present in all continents and all tax havens. But our government has been lukewarm in this issue. It should have despatched immediately senior officials to get the names.
Isn't it important to tackle the issue of domestic black money?
It is definitely important. At least the domestic black money is used in our economy and to that extent it is productive. But the money kept in Swiss banks is neither useful to India nor does it benefit Indians.
What role should the media play?
The media has a very important role to play. At the moment it seems like most part of the media is more interested in the diet of an actress. Pressure by the media needs to be built up on this issue and remember that a lot of Indians don't just go to Switzerland to ski.
What about the names of these persons?
India must try and get the names. But more importantly should get the money back. It should be top on the agenda and India ought to take a moral lead in this issue.
Will the Indian economy improve if the money is brought back?
It will do phenomenally. India will be in the top five league if all the ill-gotten money is brought back. It will change the Indian scenario and I have been saying this since 1993.
Do you think that these people will now try and pull out the money since this issue has become a hot topic?
I don't think so. If they do then India should create an instrument and regulate frameworks to bring the money back.
What kind of punishment do you suggest for these persons?
Punishment is not the issue now. There is a need to create fear in them and follow what the international community does on this issue.
Lastly do you think this is becoming just another election issue?
The US and Germany [ Images ] took the lead and there is no election there. We should not treat this as an election issue. We have to take up this matter and if we don't then we will become a laughing stock of the entire world.
In fact the BJP also plans to carry out a mock election across the country on April 6 where people will have to cast their vote indicating whether Indian money in Swiss banks should be brought back to India or not.
During his address, Advani said the BJP will form a task force comprising experts to prepare a strategic document for India to recommend ways to get back the national wealth stashed away illegally by corrupt politicians, businessmen and criminal overlords.
One of the names he mentioned in the task force is Professor R Vaidyanathan, Professor of Finance at the Indian Institute of Management, Bengaluru [ Images ].
In this exclusive interview to rediff.com's Vicky Nanjappa, Vaidyanathan explains in detail the importance of bringing back the ill-gotten wealth and how the money got there in the first place.
Firstly how much Indian money do you think is stashed away in the Swiss Banks?
In 2006, the most recent Global Financial Integrity study, developing countries lost an estimated $858.6 billion (about Rs 43 lakh crore) to $1.06 trillion (abot Rs 51 lakh crore) in illicit financial outflows. Even at the lower end of the range of estimates, the volume of illicit financial flows coming out of developing countries increased at a compound rate of 18.2 percent over the five-year period analysed for the study. On average, for the five-year period of this study, Asia accounts for approximately 50 percent of overall illicit financial flows from all developing countries.
This report shows that the average amount stashed away from India annually during 2002-06 is $27.3 billion (about 136,466 crore). It means that during the five-year period the amount stashed away is 27.3x5=136.5 billion (about 692,328 crore). It is not that all these amounts went to Swiss banks. It has gone to different tax and secret shelters. The share of Swiss banks in dirty money being a third of the global aggregate, some $45 billion out of the 136.5 billion stashed away from India would have been hoarded in these years in Swiss banks.
The important point is that this is only for five years. More amounts were stashed away during the Nehruvian regime. So the loot for 55 years will be several times higher. In fact, in those days the rupee commanded a better value per dollar. So fewer rupee could get more dollars. So the estimation that the Indian money stashed away may be of the order of $1.4 trillion (about Rs 71 lakh crore).
On what basis have you come to this conclusion?
There is a lot of literature available as to how to estimate the illicit financial flow from developing countries. We find out what the nature of the flow is. I have also relied upon the study Illicit Financial Flows from Developing Countries: 2002-2006 Global Finanacial Intergrity authored by Dev Kar and Devon-Cartwright Smith, a project of the Ford [ Images ] Foundation. Financial flows in the context of this report includes the proceeds from both illicit activities such as corruption (bribery and embezzlement of national wealth), criminal activity, and the proceeds of ilicit business that become illicit when transported across borders in contravention of applicable laws and regulatory frameworks (most commonly in order to evade taxes).
Which are the various tax havens, where the ill-gotten wealth of Indian businessmen and politicians are stashed?
There are presumably more than 70 tax havens in the world. Indian wealth could be more in Switzerland [ Images ] and various British /US islands. At least 40 countries market themselves aggressively as tax havens [Source: Internal Revenue Service USA on Abusive Off-shore Tax Avoidance schemes –Talking Points Jan 2008]. The well-known tax havens are Switzerland/ Liechtenstein/Luxemburg/ Channel Islands etc.
Could you elaborate and tell us how the money got there in the first place?
There are several methods/reasons. Under invoicing/over invoicing of exports and imports and getting the balance stored abroad. Kickbacks from major defense/civilian contracts. Not bringing the earnings abroad. In the old days smuggling of gold and illegal money. Transactions done abroad and not reported here. Hawala funds. Funds earned by artists/ entertainment industry /sports people and stashed abroad. When you want to indulge in adharma, hundreds of ways are open!
We would like to know the terror connection. Do you think even terrorists are stashing away cash and using the tax haven route to send across money all over the world, to finance their activities?
M K Narayanan, our National Security Advisor, has spoken about it in Berlin recently.
Advani says that it is important to bring this money back. How can the government go about it and what are the various ways in which India can get its money back?
Put it on the Global Agenda. Put it in G-20. Put it in the International Monetary Fund. Put it in Egmont Group. Also take a lead among all developing countries. Support US /German/French efforts.
If India decides to take the initiative, will the Swiss authorities cooperate?
It is not due to our pressure but that of US which will make them co-operate. When a family is in deep financial crisis then it tries to look at the small amount saved under the sugar jar by grandma. Same way developed economies are desperate for every dollar. Even if we do not act due to their efforts the list of crooks may be out, then we will be in a dangerous social situation since the who's who of India will be there. Instead we should get it and get the funds and decide on the steps to sterilise it. Otherwise, the world will laugh at us.
Politicians sure must be having a lot of money in Swiss Banks. Do you think this factor will deter the government from acting?
Public pressure will make them do it. Plus, the evolving global situation against tax havens. The money belongs to the poor farmers and unorganised workers of India. Also, Indian businessmen have a lot of their ill-gotten gains in these banks. The world situation is such that Indian businessman will want to bring it back now given the attractive returns in India.
Do you think that the Indian government should demand all the Indian black money in Swiss banks?
Of course. India should and must act. We are not a banana republic.
You wrote in your column that the German foreign intelligence agency BND got names of 1,400 clients of the Liechtenstein-based LTG bank who were supposed to be suspected tax evaders. Of the 1,400, 600 were supposed to be Germans. Do you think of the remaining there will be Indians as well? Has the Indian government approached the German government for the list?
Indian names will be there. Our tax evaders and crooks are like the omnipresent Maha Vishnu [ Images ] -- present in all continents and all tax havens. But our government has been lukewarm in this issue. It should have despatched immediately senior officials to get the names.
Isn't it important to tackle the issue of domestic black money?
It is definitely important. At least the domestic black money is used in our economy and to that extent it is productive. But the money kept in Swiss banks is neither useful to India nor does it benefit Indians.
What role should the media play?
The media has a very important role to play. At the moment it seems like most part of the media is more interested in the diet of an actress. Pressure by the media needs to be built up on this issue and remember that a lot of Indians don't just go to Switzerland to ski.
What about the names of these persons?
India must try and get the names. But more importantly should get the money back. It should be top on the agenda and India ought to take a moral lead in this issue.
Will the Indian economy improve if the money is brought back?
It will do phenomenally. India will be in the top five league if all the ill-gotten money is brought back. It will change the Indian scenario and I have been saying this since 1993.
Do you think that these people will now try and pull out the money since this issue has become a hot topic?
I don't think so. If they do then India should create an instrument and regulate frameworks to bring the money back.
What kind of punishment do you suggest for these persons?
Punishment is not the issue now. There is a need to create fear in them and follow what the international community does on this issue.
Lastly do you think this is becoming just another election issue?
The US and Germany [ Images ] took the lead and there is no election there. We should not treat this as an election issue. We have to take up this matter and if we don't then we will become a laughing stock of the entire world.
Tuesday, August 18, 2009
Our Money-70,00,000 Crores Rupees In Swiss Bank
Our Money-70,00,000 Crores Rupees In Swiss Bank
Engineer
1) Yes, 70 lakhs crores rupees of India are lying in Switzerland banks. This is the highest amount lying outside any country, from amongst 180 countries of the world, as if India is the champion of Black Money.
2) German Government has officially written to Indian Government that they (German Government) are willing to inform the details of holders of 70 lakh crore rupees in their Banks, if Indian Government officially asks them.
3) On 22-5-08, this news has already been published in The Times of India and other Newspapers based on German Government's official letter to Indian Government.
4) But the Indian Government has not sent any official enquiry to Germany for details of money which has been sent outside India
between 1947 to 2008. The opposition party is also equally not interested in doing so because most of the amount is owned by politicians and it is every Indian's money.
5) This money belongs to our country. From these funds we can repay 13 times of our country's foreign debt. The interest alone can take care of the Centre's yearly budget. People need not pay any taxes and we can pay Rs. 1 lakh to each of 45 crore poor families.
6) Let us imagine, if Swiss Bank is holding Rs. 70 lakh crores, then how much money is lying in other 69 Banks? How much they have deprived the Indian people? *Just think, if the Account holder dies, the bank becomes the owner of the funds in his account.*
7) Are these people totally ignorant about the philosophy of *Karma*? What will this ill-gotten wealth do to them and their families when they own/use such money, generated out of corruption and exploitation?
8) Indian people have read and have known about these facts. But the helpless people have neither time nor inclination to do anything in the matter. This is like "a new freedom struggle" and we will have to fight this.
9) This money is the result of our sweat and blood. The wealth generated and earned after putting in lots of mental and physical efforts by Indian people must be brought back to our country.
Engineer
1) Yes, 70 lakhs crores rupees of India are lying in Switzerland banks. This is the highest amount lying outside any country, from amongst 180 countries of the world, as if India is the champion of Black Money.
2) German Government has officially written to Indian Government that they (German Government) are willing to inform the details of holders of 70 lakh crore rupees in their Banks, if Indian Government officially asks them.
3) On 22-5-08, this news has already been published in The Times of India and other Newspapers based on German Government's official letter to Indian Government.
4) But the Indian Government has not sent any official enquiry to Germany for details of money which has been sent outside India
between 1947 to 2008. The opposition party is also equally not interested in doing so because most of the amount is owned by politicians and it is every Indian's money.
5) This money belongs to our country. From these funds we can repay 13 times of our country's foreign debt. The interest alone can take care of the Centre's yearly budget. People need not pay any taxes and we can pay Rs. 1 lakh to each of 45 crore poor families.
6) Let us imagine, if Swiss Bank is holding Rs. 70 lakh crores, then how much money is lying in other 69 Banks? How much they have deprived the Indian people? *Just think, if the Account holder dies, the bank becomes the owner of the funds in his account.*
7) Are these people totally ignorant about the philosophy of *Karma*? What will this ill-gotten wealth do to them and their families when they own/use such money, generated out of corruption and exploitation?
8) Indian people have read and have known about these facts. But the helpless people have neither time nor inclination to do anything in the matter. This is like "a new freedom struggle" and we will have to fight this.
9) This money is the result of our sweat and blood. The wealth generated and earned after putting in lots of mental and physical efforts by Indian people must be brought back to our country.
Subscribe to:
Posts (Atom)