This is not a "real story". This is just a story.
Indians earn, save, and spend in INR. This sort of misrepresentation, coming from a professor, seems purposefully creating fear, uncertainty, and doubt.
The USD itself has lost ~32% of its purchasing power in the last 15 years. This is because of inflation.
Controlled inflation (under 5-6%) is considered normal and even healthy for a growing economy. A fast growing economy like India tends to have higher inflation naturally.
In fact, central bankers and finance ministers get worried if inflation drops too low. Focusing only on the nominal USD rate without this context is purposefully misleading.
So while INR has lost its purchasing power, it is natural just like the USD has lost its purchasing power. Someone's savings in India, to be used in India, suddenly doesn't become 50% less due to USD/INR rate increase.
One day in the coming time, INR will suddenly start appreciating against the USD quickly. Then what will they say? They will change the attack to "inflation" then. These are the same people talking about de-dollarization and USD "crashing soon" as well.
So assuming they are right, if suddenly we wake up to 1 USD = 50 INR, did every Indian become twice as rich in the night? Because its GDP and GDP per capita is suddenly 2x now in USD terms? No.
The real story is, for those who can understand these things and see the pattern, there's an orchestrated attempt from a large network of anti-establishment types to fear monger and incite Indians to try cause political and economic instability in India.
Teslas now drive themselves from their birthplace at the factory to their designated loading dock lanes without human intervention
One step closer to large-scale unsupervised FSD
“Imagine teaching a child to ride a bike. You could give them a detailed manual (Supervised Fine Tuning), but they'll likely learn better by trying it themselves (Reinforcement Learning), falling, getting up, & gradually improving.”
- @McDonaghMatthew
ELI5 on DeepSeek, link 👇
In context to freebies, Kejriwal said, "Paisa asli women empowerment hai, baki sab chochley hai."
Is distributing monthly money or sustainable income truly real empowerment?
Let's see how spiritual corridors are changing women's lives that many are missing.
1/
Dear Sebi
With all due respect.
If you can have rules for domestic brokers that no broker can hold more than 15% MWOP. Then why can’t we have a simple rule that in an Index of 50 stocks, no stock would be allowed for more than 5% weightage in the index. This will stabilise the index and stop manipulation by large hedge funds.
@MoneyMystery@_anujsinghal@CNBCTV18Live
We are excited to collaborate with @wawaBrc20 again 🤝
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