Understanding the US - Again

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Cyrano
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Re: Understanding the US - Again

Post by Cyrano »

Thanks Gatuam Babu, good to see you post.
vimal
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Re: Understanding the US - Again

Post by vimal »

That reminds me, was there a new US ambassador appointed or that post is lying vacant still for years.
g.sarkar
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Re: Understanding the US - Again

Post by g.sarkar »

Thank you Cyranoji, I have a very slow connection, so just trying to keep up with the posts in BRF. Vimalji, I think the post of US ambassador to India is still vacant. It has remained vacant from the time Sleepy Joe took over.
Gautam
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Re: Understanding the US - Again

Post by ramana »

GB still traumatized by memory of US troops in WWI and later WWII

https://www.nam.ac.uk/whats-on/first-friendly-invasion
vimal
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Re: Understanding the US - Again

Post by vimal »

g.sarkar wrote:Thank you Cyranoji, I have a very slow connection, so just trying to keep up with the posts in BRF. Vimalji, I think the post of US ambassador to India is still vacant. It has remained vacant from the time Sleepy Joe took over.
Gautam
So much for strategic partnership. :rotfl: :rotfl:
NRao
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Re: Understanding the US - Again

Post by NRao »

vimal wrote:
g.sarkar wrote:Thank you Cyranoji, I have a very slow connection, so just trying to keep up with the posts in BRF. Vimalji, I think the post of US ambassador to India is still vacant. It has remained vacant from the time Sleepy Joe took over.
Gautam
So much for strategic partnership. :rotfl: :rotfl:
Politics has many colors.

Jan 3, 2023 :: Biden renominates Garcetti to be U.S. ambassador to India
President Biden renominated former Los Angeles Mayor Eric Garcetti to be U.S. ambassador to India on Tuesday after Garcetti’s confirmation failed to advance through the U.S. Senate last year.

The White House also resubmitted nominations for roughly 60 people for jobs in key administrative posts or national security positions, as well as 25 judicial nominees who failed to win confirmation in 2022. Candidates must be renominated at the start of each new Congress.

Biden’s support for Garcetti, who was also renominated for the position last year, is notable given how long the nomination has lingered in Washington. The vacant diplomatic post comes as Biden looks to allies to help contain the rise of China and shore up support for Ukraine following Russia’s invasion. Indian Prime Minister Narendra Modi will also host the G-20 leaders in New Delhi in September.

White House Press Secretary Karine Jean-Pierre told reporters Tuesday that Garcetti is “well-qualified” for the “vital role.”

“We’re hopeful that the Senate will confirm him promptly,” Jean-Pierre said.

“I am grateful for the president’s confidence, and strong support on both sides of the aisle in the Senate,” Garcetti said. “I look forward to completing this process, so that I can begin serving in India and advancing this critical partnership as quickly as possible.”

Garcetti was announced as the White House pick for India in July 2021, but a vote on the appointment has never been scheduled following some Democratic senators’ concerns over sexual harassment allegations leveled against former Garcetti aide Rick Jacobs.

At the same time, Sen. Joni Ernst (R-Iowa) has placed a hold on Garcetti’s nomination.

Ernst’s fellow Iowa Republican, Sen. Chuck Grassley, issued a report in May that found that the allegations of sexual harassment against Jacobs, a former deputy mayor, were “pervasive, widespread and notorious.”

The report also concluded that it was “more likely than not that Mayor Garcetti either had personal knowledge of the sexual harassment or should have been aware of it.” Jacobs has denied harassing anyone and Garcetti has said he wasn’t aware of any improper behavior.

In a speech on the Senate floor last month, Grassley urged his colleagues to vote against Garcetti’s nomination and criticized the White House.

“How hypocritical is it for this administration to encourage victims of sexual harassment to speak out, yet when they do so against a powerful ally of Joe Biden, they’re ignored,” Grassley said.

A White House spokesperson last month declined to comment on Grassley’s remarks.

Garcetti has insisted that he has backing from some Republican senators that could help him gain the necessary votes to win confirmation.

The former mayor has waited far longer for confirmation — more than 500 days — than all others whom Biden has designated to be ambassadors, according to the nonprofit Partnership for Public Service.

Libby Liu, chief executive of legal organization Whistleblower Aid, said Tuesday that renominating Garcetti “does a grave disservice to victims and survivors of workplace sexual harassment” and that Biden should put forward a new nominee. Whistleblower Aid represents Garcetti’s former communications director, who alleges that she was kissed by Jacobs, which he denies.

Biden on Tuesday also resubmitted nominations for Phil Washington to head the Federal Aviation Administration, Danny Werfel to lead the Internal Revenue Service and Gigi Sohn to serve as commissioner of the Federal Communications Commission.

The White House is expected to receive approximately 175 nominees from Congress that failed to clear the upper chamber last year, according to a White House official. Biden intends to continue processing more of those nominees in the coming weeks, the official said.
chetak
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Re: Understanding the US - Again

Post by chetak »

vimal wrote:That reminds me, was there a new US ambassador appointed or that post is lying vacant still for years.

garcetti was reappointed by sleepy joe, but the confirmation process is being slow walked by sleepy joe's detractors

@naomiseligman
“Los Angeles Mayor Eric Garcetti, whom Mr. Biden nominated to be ambassador to India in July 2021, has a more problematic path to confirmation as questions remain about how much he knew about sexual harassment allegations against one of his top aides.”6 Dec 2022

https://www.washingtonpost.com/opinions ... age-risky/
Cyrano
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Re: Understanding the US - Again

Post by Cyrano »

Not having a US ambassador means Indian establishment has to talk directly with US counterparts cutting down on some protocol and latency. Also gives no opportunity for a woke Garcetti to butt his butt into Indian affairs and happenings or lobby on behalf of MIC or give dubious NGOs a platform. I dont see any specific downside to his monition languishing. Or am I missing something ?
vijayk
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Re: Understanding the US - Again

Post by vijayk »

Looks like DEMOCRATS want to get rid of Biden

https://www.cnn.com/2023/01/23/politics ... index.html
FBI search deepens political implications of Biden document discoveries
The FBI search of President Joe Biden’s home and discovery of more classified material deepened the seriousness of his secret documents controversy and worsened the political fallout.

Biden’s lawyers argued that Friday’s search underscored his cooperation with a special counsel’s investigation – implicitly distinguishing him from the behavior of ex-President Donald Trump in his own classified documents scandal.

Yet the reality of FBI officers searching the private residence of a sitting president remains an extraordinary one, however the White House seeks to downplay it. It provoked new questions over why Biden still had classified information from his time as a vice president; how material, typically treated with extreme care by federal employees, ended up at his private residence; and whether it was secure from prying eyes in the years it was there.


No. 2 Senate Democrat agrees Biden has lost 'high ground' in criticism over classified documents
The new discoveries led to some pointed criticism of the president even among Democrats. The White House’s management of the controversy, which has fed the classic drip, drip cycle of a slowly emerging Washington scandal, has distracted from a period of political success for the president and offered openings for the new Republican House majority.

“When that information is found, it diminishes the stature of any person who is in possession of it, because it’s not supposed to happen,” Senate Majority Whip Dick Durbin said on CNN’s “State of the Union” on Sunday. “Whether it was the fault of a staffer or an attorney, it makes no difference. The elected official bears ultimate responsibility,” the Illinois Democrat added.
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Re: Understanding the US - Again

Post by Tanaji »

Have people watched the video of Tyre Nichols getting murdered by Memphis police officers? It was a proper lynching done by police who institutionally think are above the law. There was no humanity present there.

Note that it wasn’t just the police: the EMTs who arrived offered no aid for 15 mins. One even said “guess you aren’t going anywhere soon” or to that effect. Its well Known that American police are out of control but it seems to be affecting other services as well.

Another point is that race is not a factor here.

Remember this the next time we get lectured on human rights.
SRajesh
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Re: Understanding the US - Again

Post by SRajesh »

Nuland visits just as the dimwit finishes the trek
What’s the motive:
Pakraine ammo??
Paki trade??
Ruski juice???
The concern is if she’s all and sundry during the visit and does manages to catch up with the dimwit what will he a. Complain about b. What will he promise if helped to dislodge present dispensation
fanne
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Re: Understanding the US - Again

Post by fanne »

Give us some kind of ultimatum? That may not work but not because it was never goven
A Deshmukh
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Re: Understanding the US - Again

Post by A Deshmukh »

fanne wrote:Give us some kind of ultimatum? That may not work but not because it was never goven
And BBC, Adani reports were the warning shots? on what may come if we don't fall in.
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Re: Understanding the US - Again

Post by sajo »

Tanaji wrote:Have people watched the video of Tyre Nichols getting murdered by Memphis police officers? It was a proper lynching done by police who institutionally think are above the law. There was no humanity present there.

Note that it wasn’t just the police: the EMTs who arrived offered no aid for 15 mins. One even said “guess you aren’t going anywhere soon” or to that effect. Its well Known that American police are out of control but it seems to be affecting other services as well.

Another point is that race is not a factor here.

Remember this the next time we get lectured on human rights.
We should really milk that incident to the hilt with Op-Eds and NGO statements etc., with detailed history peppered with words like as is Rampant in America. Can throw in more masala about crumbling/non-existent law and order in Memphis as a city for a good measure. I am not an expert and just a regular Indian guy, at all, but had some experiences there.
One of my first memory of the place was going to the MLGW office to get my utilities connection sorted out was an armed guards threatening a "vocal" customer to leave.
I used to try and find parking slots as close to my destination as possible so as to not get mugged there. Even grocery stores more often than not had multiple armed guards loitering about. A desi colleague was relieved off his car right outside the access controlled area of our employer. Heck, even the employer's parking had a contractor's section where we were adviced to "avoid parking" by friendly long termers.
I had armed cops/ US marshals knocking at my apartment door at odd hours to serve warrants, each time with different names of what I believe were previous tenants.. so it seemed to have a "color"ful history of tenants. I guess it was my ultra stereotypical SDRE avatar which caused them immediately tone down their aggressive stance. No , and it was not a rough part of town that we lived in :D . Their arrogance such that they did not even check with the apartment office to crosscheck current tenants.


PS : Quite bafflingly , a hinterland Maharashtra politician's kin from INC owned some fancy property downtown. :eek:.
ramana
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Re: Understanding the US - Again

Post by ramana »

Hindenburg Report is American Galwan.

The gloves are off.
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Re: Understanding the US - Again

Post by vijayk »

ramana wrote:Hindenburg Report is American Galwan.

The gloves are off.
Now Credit Suisse (bankrupt bank) strikes
vimal
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Re: Understanding the US - Again

Post by vimal »

ramana wrote:Hindenburg Report is American Galwan.

The gloves are off.
It’s in the Indian economy thread also.
I was surprised to see a lot of negative
coverage reg Adani on Bloomberg over the last few days, given they rarely ever cover India. Bloomberg is a long time China simp and utter establishment sucker.
Cyrano
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Re: Understanding the US - Again

Post by Cyrano »

Adani group cancelled the FPO and will return the money to investors who paid higher than current market price!
Now that's a bombshell move !!
Could have been done on NaMo's advice - can't think of anyone else who thinks like this.
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Re: Understanding the US - Again

Post by srikandan »

Looks like Hindenburg's shenanigans have severely reduced holdings of US/EU investors who have been replaced by investors like UAE and Israel and Indian corps, who will not try this kind of stunt since they have skin in India's future. Seems to reduce risks of investors pulling their investments at crucial times like they used to (like being involved in events that are against the intersts of the US/EU). Good turn of events.
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Re: Understanding the US - Again

Post by NRao »

srikandan wrote:Looks like Hindenburg's shenanigans have severely reduced holdings of US/EU investors who have been replaced by investors like UAE and Israel and Indian corps, who will not try this kind of stunt since they have skin in India's future. Seems to reduce risks of investors pulling their investments at crucial times like they used to (like being involved in events that are against the intersts of the US/EU). Good turn of events.
What does one expect colonialists to do?

But, this is good. It at least came out when India could sort of react.

Blessing.
RoyG
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Re: Understanding the US - Again

Post by RoyG »

ramana wrote:Hindenburg Report is American Galwan.

The gloves are off.
How is this American Galwan?
gakakkad
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Re: Understanding the US - Again

Post by gakakkad »

^ it is . Except that in Galwan we regained territories and the Chinese took 2.5 x casualties .

Given how deeply entrenched it is in critical infrastructure projects , at the very least can slow down some infra projects . Worst case scenario it can swing voters away from modi .

It is a wake up call for many reasons -

1)anticipate future attacks.they will happen. get early control of narrative and have offensive ready.
2) not too many eggs in one basket. Adani does have too many critical projects in his basket.
3) be prepared to counter attack .
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Re: Understanding the US - Again

Post by chanakyaa »

vijayk wrote:...
Now Credit Suisse (bankrupt bank) strikes
Interesting question is why is this hit job coming from a second tier Swiss bank, CS, and not top 5 US-based investment banks? Considering that Adani has raised over $10bn in the US market for its portfolio businesses between 2016-2021. Credit Suisse is in deep trouble with its core business (just Google "Credit Suisse 2022 problems"). Massive debt on the balance sheet and dramatic reduction in revenues. Unkil recently helped them raise debt to help them with their debt situation. They are not necessarily out of the woods as a company, but such actions on the part of CS raises serious doubts about its intentions.

https://www.bloomberg.com/news/articles ... ify%20wall
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Re: Understanding the US - Again

Post by chetak »

gakakkad wrote:^ it is . Except that in Galwan we regained territories and the Chinese took 2.5 x casualties .

Given how deeply entrenched it is in critical infrastructure projects , at the very least can slow down some infra projects . Worst case scenario it can swing voters away from modi .

It is a wake up call for many reasons -

1)anticipate future attacks.they will happen. get early control of narrative and have offensive ready.
2) not too many eggs in one basket. Adani does have too many critical projects in his basket.
3) be prepared to counter attack .
other short sellers who earlier did not pay any attention to the Indian market will now check out Indian players in India

This may not be the last of the attacks on the India growth story

The markets seem to have taken a serious mauling with unrelated collateral stocks also going down in a sort of sympathetic explosion syndrome
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Re: Understanding the US - Again

Post by V_Raman »

If short selling is not allowed in india - how is this affecting Adani stock?
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Re: Understanding the US - Again

Post by Pratyush »

Because the stock is being sold at whatever price is available in the market.

It would seem that the manipulation was being done by the short sellers and they accused Adani of it.
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Re: Understanding the US - Again

Post by vera_k »

Best I can think of at this time is that the virtuous cycle where higher stock prices were used to borrow money that went back to buy more stock is now a vicious cycle running in reverse. As the stock price falls, more loans are called, which in turn results in more stock to be sold. If India truly doesn't allow for short selling, then this can take a while to play out, since no one will need to buy the stock to cover or take profit.
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Re: Understanding the US - Again

Post by Aditya_V »

Pratyush wrote:Because the stock is being sold at whatever price is available in the market.

It would seem that the manipulation was being done by the short sellers and they accused Adani of it.
Short sellers will buy the stock which they have sold from 1 to14 days, they pay upfront margin money and sell stocks they don't have. Best thing fo Adani to do is just sit this out .
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Re: Understanding the US - Again

Post by vijayk »

Surya Kanegaonkar @suryakane
Those following the Adani share price today will see that a) liquidity is weak so price gaps are big, b) big tickets are going through around INR 2000, c) the FPO cancellation has had a limited immediate fallout, and d) as liquidity dries up, shorts will find it harder to exit.
Image


Surya Kanegaonkar @suryakane

Make no mistake, the shorts are deeply in the money. But yesterday’s circuit breaking move and today’s block trades show that exiting the full size will come at a premium to traded market levels. It’s clear there are only a few large counterparties and fresh capital is entering.
If and when institutions stop selling, shorts will have to keep adding to their positions to keep the price down for long enough to attract more sellers who they can use to exit. This becomes more risky. The price will whipsaw around until the shorts are cleared out.
Those following the Adani share price today will see that a) liquidity is weak so price gaps are big, b) big tickets are going through around INR 2000, c) the FPO cancellation has had a limited immediate fallout, and d) as liquidity dries up, shorts will find it harder to exit.
We have to remember the upside will be capped in the minds of investors around the FPO price in the short term? so about 50% higher from here. Downside risk still remains. But if - and that’s a big if - the stock stabilizes for a few days, the upside skew increases.
Make no mistake, the shorts are deeply in the money. But yesterday’s circuit breaking move and today’s block trades show that exiting the full size will come at a premium to traded market levels. It’s clear there are only a few large counterparties and fresh capital is entering.
If and when institutions stop selling, shorts will have to keep adding to their positions to keep the price down for long enough to attract more sellers who they can use to exit. This becomes more risky. The price will whipsaw around until the shorts are cleared out.
Talking about whipsawing, here’s what it looks like. The bid/offer spread is so wide that within minutes, investors are take taking billions of dollars in intraday PnL swings. The spread has to narrow first, then some more nervous longs will exit. And then it stabilizes.
Image
vijayk
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Re: Understanding the US - Again

Post by vijayk »

I think this is also big scam by foreign banks and bankers to steal Billions from India. They definitely have some internal help.

I hope SEBI can figure this out and stop the money going out
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Re: Understanding the US - Again

Post by vijayk »

Image
vimal
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Re: Understanding the US - Again

Post by vimal »

This reminds of Chanakya/Chandragupta story where Chanakya asked Chandragupta to defeat enemy by nibbling at the borders rather than hitting at the center of the power.
American FIIs are a real threat.
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Re: Understanding the US - Again

Post by vijayk »

Remember when Adani took over NDTV all American media raised a stink over the acquisition. NDTV isa deep state arm

https://www.bloomberg.com/news/articles ... rity-stake

https://www.bloomberg.com/news/articles ... ts-control

https://www.theguardian.com/world/2022/ ... group-ndtv

I think this a big test for India. Can we come out of it?
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Re: Understanding the US - Again

Post by vijayk »

Image

Image
V_Raman
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Re: Understanding the US - Again

Post by V_Raman »

It cannot be this easy to knock off the India growth story - one company ?! If it is - then we should be way more mum. If not - we know how to solve this.
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Re: Understanding the US - Again

Post by Pratyush »

The profitability of Adani group is not really an issue.

When 74% of the stock is held by the promoters. With no change in shareholding pattern over the last 5 years. Then short sellers cannot do much damage to the company.

What can be done as a result of this report is to open frivolous lawsuits and investigations of the group for the next 20 years wasting everyone's time.

Unless Adani has been syphoning loans for personal purposes. Such as Mega Yatchs, or a personal Boeing 747, or an island in the Carribbean. He is not under any real threat.

Nor is India under any kind of threat.
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Re: Understanding the US - Again

Post by vimal »

It’s amazing that everyone, Congress and Chins keep harping the line taken by a two bit short seller while ignoring Adanis response. In this case there is a clear case of conflict of interest. They are hurting and it shows. It’s a political drama not financial.
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Re: Understanding the US - Again

Post by vera_k »

^ While it's unfortunate that politicians are looking for an advantage, Adani's response leaves much to be desired. Claiming his brother is not related and has nothing to do with the business is not credible.

Quoting from the response.
22/ (Allegation #42) A Vinod Adani-controlled Cyprus entity called Vakoder Investments has no
signs of employees, no substantive online presence, and no clear operations. It had an investment
of U.S. ~$85 million in an Adani private entity without disclosure that it was a related party. How
does Adani explain this?
23/ (Allegation #43) What was the source of the Vakoder funds?
The above cited transactions with Krunal Trade & Investment, Vakoder, Rehvar Infrastructure,
Milestone Tradelink, ardenia Trade and Investment and the ‘private Adani entities’ are not
‘related party transactions’ under laws of Indian or accounting standards. Consequently, we are
neither aware nor required to be aware of their ‘source of funds’.
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Re: Understanding the US - Again

Post by srikandan »

vera_k: Claiming his brother is not related and has nothing to do with the business is not credible.
Isn't the normal rule-of-thumb the existence of a paper trail or other evidence to point to business links? Also, isn't this a question to be asked to Vakoder investments?

AFAIK, publicly traded businesses need to expose their sources of funding, but not one level more, i.e., to expose sources of funding of their investors. Such questions seem to be fishing expeditions, where answering the question would be portrayed as a sign of trouble, just like not answering the question, and in such cases revealing no information is better. It is not like these questions are being asked to soothe investor anxiety, when it is obvious that it is a hit job by white-collar criminals hiding behind the skirts of their government.

IMO, intent of hindenburg's question is to suggest financial impropriety on the part of AE just because the investor is related.
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