Re: [MTC Global] Currency Futures in BSE

One could rephrase the often used quote, in this instance, to read ... "The banks (World Bank included) have developed a new weapon that destroys people but leaves buildings standing ... it's called the currency future"!

... wrecker of productive capital, wrecker of financial capital, Dissipating capital under false pretenses, etc. etc.

Such "Capital Destruction"!! ... most time well orchestrated manoeuvres by mere mortals like all of us!  More often than not by the banks - also know as ... "banksters"!

Antal E. Fekete's "Address at the Annual Dinner of the Committee for Monetary Research and Education, CMRE on October 16, 2008; New York City" is illuminating!

http://www.safehaven.com/article/11601/the-mechanism-of-capital-destruction

http://en.wikipedia.org/wiki/Antal_E._Fekete

"Antal E. Fekete is a professor of mathematics and statistics at Memorial University (Newfoundland, Canada). He is a proponent of the gold standard and critic of the current monetary system.

"Speculation is absent in Keynesian, Marxian, Walrasian, and Austrian economic theory

More at the link!

http://www.safehaven.com/article/11601/the-mechanism-of-capital-destruction

On Mon, Dec 2, 2013 at 7:05 AM, Virendra Goel <goel.virendra@gmail.com> wrote:

This is a question to Dr. Das – how will it trigger the speculations and its adverse effects. In course of my business, I have seen colleagues entering into speculative buying and selling currencies and ultimately landing into huge losses that could not be recovered by the banks. Commodity exchanges were started for hedging but our  experience has shown that they have become centers of speculation or what we call in our language 'SATTA'.

Regards

Virendra Goel

 

 

 

From: join_mtc@googlegroups.com [mailto:join_mtc@googlegroups.com] On Behalf Of Tarun Das
Sent: Monday, December 02, 2013 11:52 AM
To: MTC Global
Subject: RE: [MTC Global] Currency Futures in BSE

 

I have not read the article. But, I welcome such derivatives of foreign exchange markets for India. In developed countries, currency futures is an important and common derivatives of foreign exchange  markets for active debt management. In a way it provides specified foreign exchange at an agreed exchange rate in future and could be beneficial for a debtor if the actual rate of depreciation happens to be lower than the agreed rate for currency futures. So there is no harm if such derivatives are developed for Indian borrowers of external loans denominated in foreign currency and for exporters and importers who resort to short term trade loans in foreign currency.

Dr. Tarun Das
World Bank Technical Adviser (Public Debt Management and Policy)
Deepening MTBF and Strengthening Financial Accountability Project
Ministry of Finance, Government of Bangladesh,
20th Floor, 6th Building, Bangladesh Secretariat, Dhaka.
Website: www.spemp.com/ www.mof.gov.bd/dmtbf

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Date: Mon, 2 Dec 2013 11:19:41 +0530
Subject: [MTC Global] Currency Futures in BSE
From: ekambarkodali@gmail.com
To: join_mtc@googlegroups.com

Hi All,

Hope you have seen the news article about introduction of Currency Futures trading in BSE the other day in Economic times.

What is your opinion on the same?

 

--
Ekambar Kodali
Pg. Mgr/Sr. Con/Arch
Worlds No. 1 IT Company
9966208523

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