Printed money, Gloom to Doom

First we go throw money at the financial crisis and then when we run out of it, we print some more. Great idea but who’re we trying to fool? We don’t need Nostradamus to tell us that, do we?

Orrin Woodward (celebrated Author of Launching a Leadership Revolution) wrote this on his blog yesterday …

Today, with a heavy heart, I will share breaking news on the immoral monetary activity of the Federal Reserve. Money supply must be tied to economic output of a country or the printed money is merely paper only good for starting fires. …

I am an American patriot and very proud to be called an American.  Today is the saddest day for me as an American.  The following graph clearly displays that America has chosen to inflate its money supply without real wealth to back the paper money and money credits.  This is immoral in the highest degree.  This is no different than if I owed someone a million dollars and I only had one hundred dollars so I handed him Monopoly money and told him that it was legal tender.  Money should be like a promissory note and that is the true origin of paper money – a promised note to redeem the above legal tender with gold at the owner’s discretion.  This is no longer the case and has proven to be to great a temptation in the hands of our quick fix political leadership. Continue reading

Raju, How could you?

Satyamev Jayate  (Sanskrit: “Truth Alone Triumphs”) is purportedly the foundation stone of India’s value systems. The Indian newspapers have been indulging in wordplay about how Satyam means not ‘truth’ but lies. Like every other scam, this too shall die out of public memory and that’s no surprise. What is surprising is that while we keep touting the need for innovation, we’ll do exactly the opposite in Satyam’s case and in every such future occurence.

First let’s look at some ‘facts’.

1. We are expected to believe (media plays Government spokesperson here) that one man is responsible for the Satyam scam and that he kept at it for 7 years without being found out. Yeah! We believe you!

2. The Indian business environment (read regulatory frameworks) encourages entrepreneurship and officials are above board. Corruption is the fault of the citizen and not the government. Yeah! We’re wet behind our ears. 

3. The 53,000 employees of one of India’s IT powerhouses does not have even 3 employees that can be elevated to the Board and we need the Government to appoint some ‘untainted’ officers. Yeah! See what happened to Colin Powell?

4. If the Indian Government does not follow the leader (read US Government) by bailing out the company, employees will be on the streets. Yeah! Sure, the company was paying its salaries on receipt of monthly payments from their customers.

5. Statutory auditors are supposed to sign on Company results based on the Chairman’s statement and are not meant to independently verify the accounts. Yeah! Capitalistic businesses will protect the interests of the guys who pays most and therefore they would defintely find private players more attractive to side with.

The truth could be that there are several ‘powerful’ vested interests locked into the company. How many hand-in-glovers are involved in the scam is something I think will unfurl in the weeks/months ahead.

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Innovation 101: “Look Ma, no ethics!

There’s this fancy company that has a fancy business model called multi level marketeering (MLM). I will not name it, not because I’m afraid to but because putting their name here would be another way to virally market them. Sorry guys, you’re not going to be able to leverage my blog to achieve your unethical goals.

Multi Level MARKETEERING!!!

What’s my problem? After all in business, the end (profit for you) always justifies the means doesn’t it? And isn’t there a well known legal tenet that says ‘customer beware’? But I haven’t come across any philosophy that says ’employee beware’.

Now these guys say that theirs is an innovative business model. They don’t need infrastructure, payroll, management – just a set of products that use the credibility of unsuspecting human beings down a never ending chain. The model ‘invisibly’ erodes the value of the unsuspecting victims’ existing social networks for a miniscule fraction of the return that the glib entrepreneur makes every time a sale is effected.

Can you even imagine what they’re selling? Packaged cosmic energy!! I’m not kidding you. That’s why I called it marketeering and not marketing. In my dictionary marketeering has all the ingredients of criminality but sadly,  no legal system in the world has classified it as such. That would make all businesses criminal right?

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