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Day: May 19, 2009

A Rare Sight ! Sensex and Nifty up 4% at 1.20 pm without the participation of Heavyweight Reliance !

It’s just around  1.20  pm on this post Manic Monday, Tuesday

NSE has seen a record Spot Cash Market Volume of near Rs 24000 crs…so has BSE where the Spot Volume is near a record Rs 7300 crs….With F & O,the Total Volume is already over Rs One Lakh crore with over two hours yet to go

Sensex is up over 4% to 14888,up 604 points…Nifty is up near 4% to 4489,up 165 points

And Wonder of Wonders ! Reliance Industries which has a 15% +Sensex weightage has not moved up…One of those rare days where the surge in the Indices are lead by Scrips other than Reliance….like Larsen & Toubro,ICICI Bank and BHEL

It’s been a glorious run for Banks,Real Estate and Capital Goods Sectors these past two days…while The IT and Pharma Sectors have reversed today as the Rupee strengthens to Rs 47.50 to the US Dollar

So you don’t really have to rely on Reliance all the time !

‘Boodling’…What a Word for Counterfeiting !…and yes it’s an American Term !

Came across an American Term called ‘Boodling’ this morning while scanning one of the Investment newsletters that flood my email daily

‘BOODLING’ was a term used for ‘counterfeiting’ the Dollar

In 1865,there were thousands of Banks in USA…all went bust…. 1600 of them actually printed their own Dollar Currency,which in theory was backed by Gold Reserves…so with this variety of Dollars, the ‘Boodlers’ had a field day as detection was very difficult

Even when the universal currency ‘Greenback’ Dollar Notes were issued,Boodlers found it easy to counterfeit the currency…Interestingly the Dollar was called a ‘Greenback’ because only one side,it’s back, was printed in green ink 

Amusingly,’Boodlers’ were held in awe and regarded as Ingenious Masters of Complicated Technology available near 150 years ago…just like so many view ‘Hackers’ in our contemporary world today !

So can we say that the Birth,Origin and Source  of all woes and troubles associated with Capitalism and Democracy is the USA ! ?

Just to remind you that ‘Counterfeiting’ will debase your country’s currency and gives a friendly ,but evil,impetus to Inflationary pressures in the Economy

Just to remind you that India continues to be the victim of Rupee Counterfeiting with strong evidence of the source being at the highest levels across our borders

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