Why is it that everytime a major scam is unearthed, apart from the politicians, bureaucrats, lobbyists, corporates the links all end up in UAE? Is it not true that still massive infrastructure projects are awarded to Dubai based companies at more than 400% market rates? Is it also not true that these companies than subcontract these same projects to Indian companies at dirt cheap rates? Isn’t that what exactly happened in the CWG scam? Is it not true that even the FDI monies are routed into India through Dubai from the tax havens? Is it also not true that the major beneficiary of these scams is a company called Emmar owned by the House of Rothschild – one of the family bloodlines that controlled the East India Company? Why do we find this name everywhere be it the CWG Scam, 2G Scam, Kingfisher deal, Tata-Jaguar deal, Intel tax-evasion controversy and the more recent KIMS Hospital deal, ABG Shipyard deal, Mahindra-Bill Forge deal, and on and on? What is the reason that from Government of India to India Inc. companies all seek advice from our colonial oppressors for each and every deal? Don’t our Indian politicians know or even understand this? What about our intelligence agencies?
The below excerpt from our exclusive Foreign Countries Dictating India Series answers all of the above questions.
Dawn of the Crisis, 2009
The collapse of the western economies due to the economic crisis of 2008 resulted in the near extinction of the Dubai economy. Most Arab nations too were struggling to make their ends meet. International financial institutions like the IMF and the World Bank were also helpless and no country could afford to bail UAE out. The real estate industry came to a standstill in UAE and foreclosures, layoffs and shrinkage of wages were on the anvil. Indian economists were forecasting that the Dubai Flu would rub off on India and would affect the Indian economy as millions of Indians would probably lose their jobs. The remittances sent back home by these workers, constitutes a large portion of the economy of some states in South India. Some experts suggested that the government take measures to reduce the impact of the Dubai Flu in India. Some suggested that it was the Government’s responsibility to provide financial assistance to those affected by the ripple effect of the Dubai Flu.
Evolution of the Solution
Unimaginable loss of $2 trillion, an Unprecedented Experiment and an Incredible Solution
At this crucial juncture, the rulers of Dubai chose to walk down a unique path. With good connections in the financial world, they decided to hire the famed N.M Rothschild and Brothers (NMR) as knowledge partners and consultants to save UAE. NMR agreed to help for a whopping fee of $10 billion. Desperate for help, the rulers agreed on the condition that they would give the NMR Group leeway to operate and they would have to make the money (fee) by themselves whichever way they deemed fit. The solution proposed by the NMR Group was to suck money out of India to bail the UAE economy out, without Indians knowing it.
STEP 1: NMR Group set up Emmar Properties in UAE
It is believed that Emmar is the abbreviation of Emma Rothschild, Nobel laureate Amartya Sen’s third wife.
This company was promoted as one of the best construction companies in the world having done a lot of work in the US, Latin America etc. (The native owners piggy-backing on international partners). Their methodology was simple, tried and tested. They bid for real estate contracts in India and bought them at dirt cheap prices from the Government and sold them to Indians (all classes) at whopping prices, thus making huge profits which were then transferred to Dubai. The investment for these real estate ventures came from Indian businessmen who had connections in Dubai and the money for the initial investment was laundered from Mauritius or Cayman Islands.
STEP 2: Free Trade – Indian Black Money is Dubai-Singapore White Money is Indian FDI
Money, which is earned in corruption by sucking the blood of poor Indians by the politicians and private corporations is laundered to the safe heavens like Mauritius and Cayman Islands. Interestingly this same portion of money suddenly comes back as boomerang and is shown as FDI portion of Dollar Investment until they obtain lines of credit from local Indian banks. If the fraud is caught the real owners of Emmar or their consultants are never brought to justice and only Indian counter parts will face jail (sounds similar and familiar? – when Jalianwalabagh massacre happened, the English officers escaped from punishment and only the local Indian police were suspended).
STEP 3: Roll-in to India and Modus Operandi
Many front companies were promoted as subsidiaries of Dubai based companies in Singapore, South Korea, Malaysia, etc. to lend some international flair and authenticity to the parent Dubai business houses. The modus of operation was simple: Over invoice every item several times citing international standards and get the bills passed. Then subcontract the work to local Indian contractors for the actual price.
This same Emmar Properties were consultants in executing the Common Wealth Games which was close to the tune of Rs 1.25 lakh crores ($ 24 billion) fraud (this is what was revealed) in which again the ever forgetful Kalmadi was sent to Tihar but the money reached Dubai and CBI went on a merry chase behind Australian and Swiss firms to find out the truth in over invoicing of gym equipment supplied in CWG. The quality of the work done in Delhi was so great that the foot-over bridge built by Emmar collapsed just a week before inauguration of CWG and it was re-built in record time by Indian Army. The bill for this CWG was twice the combined total of all CWGs ever conducted in the entire history of CWG. The probe is still on.
In a matter of months, Emmar attached itself to almost every State Government and was working on several key infrastructure projects. For example, in Andhra Pradesh, Industrial Infrastructure Development Corporation (APIIC) entered into joint venture with Emmar Properties in developing golf courses, villas, high rise complexes, stadiums, recreation and entertainment centers etc. These deals signed between 2004-11 are now under the CAG, Vigilance and CBI scanner. The modus operandi was simple – first APIIC and Emmar agreed to become equal (50%) partners. Then within months, APIIC’s ownership share dropped to 26% and eventually to 6%. This was done by transfer of shares to Indian front companies setup by the Emmar Group. The Indians named in the Emmar fraud case in Andhra Pradesh were pleading the courts to grant them special concessions to enable them to go on pilgrimage.
Emmar Group had such similar deals with almost every state government in India. For example, if the Andhra Pradesh fraud in land grab is close to $50 billion dollars (Rs 2.5 lakh crores) then with similar proportion with leading state governments, the total fraud alone will be ($50 billion x 20 state governments) $1 trillion dollars. This $1 trillion was sucked out into Dubai and is even now being sucked out of the Indian economy right infront of your eyes. This is the 50% of the Dubai Bailout Plan. In case of Andhra Pradesh because of the political power struggle one political party requested High Court to look into another party connection with Emmar and thus the high court ordered a CBI probe. Even here Emmar used top-notch lawyers in India to fight and to get the case dismissed. Who will probe these in other states of India where there is no such political power struggle?
How Rothschilds were able to bailout Dubai by sucking money from India without Indians knowing it?
A famous member of the House of Rothschild once remarked, “Give me control of a nation’s money and I care not who makes it’s laws”. In 1999, NMR might have correctly calculated the collapse of several western economies. The NMR group works in conjunction with the UK Government and its Intelligence agencies since more than a century. They have close working relations with ‘Monitor Group’ a management consulting firm in London, which sold the idea of liberalization to India. Between 2004 and 2008 these western lobbies carefully nurtured segment by segment the Indian economy by developing friends or using their resident consultants like Nira Raadia and her Vaishnavi Consultants.
Interestingly when all the murky operations of EMAAR and 2G Spectrum Scam which swindled lakhs of crores from India into foreign banks were taking place, at the same time Rahul Gandhi had working connections with Monitor Group, where the head of the British Secret Intelligence Service was sitting in as one of the board members of the company. What exactly was the role and responsibilities of Rahul Gandhi in that company? What is the connection between British Intelligence and the scams that took place around that time and even afterwards?
Even the present government although opposed FDI when in opposition implemented the same policies with much more vigour when coming to power. Is it why the role of British Intelligence and the House of Rothschild is never exposed in any of the scams and are never prosecuted? Why their role is not exposed even in the media? What does that tell us about the state of the Indian mainstream media?
It is time for the general populous of India to become aware and our investigative agencies to adapt themselves to combat the threats of this new era of financial warfare.
Subscribe Now and read this extensively researched Foreign Countries Dictating India Series – a bizarre saga of bankrupt western economies and their multinational business houses’ incredulous and laughable economic plan to Develop India with non-existing FDI from their phony FIIs (Foreign Institutional Investors). Published in GreatGameIndia – India’s only quarterly magazine on Geopolitics & International Affairs.