MRCM (Mine Royalties for Citizens and Military) Party
Aham Rashtrim Vasunam Sangamani                                              Jai Jawan Jai Kisan
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Brief    descriptions    of    first    seven changes

Contents
  1. Importance of the banking question
  2. Result of rottenness in RBI, Finance Ministry
  3. Solutions
  4. Replacement procedure for RBI Governor
  5. Draft of the Govt Order to create replacement procedure for RBIG
  6. More on the existing Rupee supply
  7. Government Debt
  8. Citizens’ Rupee System Law and Deficit Financing
  9. Main differences between existing system and Citizens’ Rupee System
  10. Controlling inflation
  11. Other party’s and intellectuals stand on changing RBI
  12. Execises
  13. Exercises





1.    Importance of the banking question


         He who solves the money [banking] question will do more for the world than all professional soldiers of the history ---- Shri Henrybhai Ford



2.    Result of rottenness in RBI, Finance Ministry


         The most rotten people in Indian Executive are in RBI and Finance Ministry. And their rottenness has caused immense damage to us commons. RBI and Finance Ministry authorized various banks to manufacture new Rupees of Rs 750,000 crores in past one year (Jul-2007 to Jun-2008). This newly manufactured Rupees were given out in form of new loans. Please note – new loans, not issuance of loans from the money repaid from previous loans. The rotten RBI officers have refused to give data on which persons got how much of new Rupees, but most of these Rupees go to top 1% of Indian population, and some half the Rupees go to the top 500000 wealthy individuals of India.
         IOW, top 1% got a big chunk of Rs 750,000 crores merely by “promise to pay”. Some 80% Indians make Rs 20 per day. i.e. some 88 crores of Indians work for whole year and make only Rs 7200 a year i.e. Rs 630,000 crores. So rotten officers of RBI ensure that the top 1% Indians get more Rupees for no work and mere promise to pay than what bottom 88 crore Indians make by their hard work !! An individual in top 1%, directly or indirectly, gets about Rs 700,000 lakhs of new loans for no work and mere promise to pay, while a person in an Indian in bottom 80% toils whole year to get Rs 7000 !! All this is due to rottenness of RBI officers and Finance Ministry officials.
         And it is not just past one year. In 1951, Rupee supply was Rs 1000 cr. Now it is 4000 times higher – Rs 40,00,000 crores. I repeat and request reader to note carefully --- 4000 times higher not 4000% higher. In past 4 years, Jul-2004 to Jun-2008, RBI has increased money supply from Rs 17,00,000 crores to Rs 40,00,000 crores !! IOW, RBI manufactured more money in past 4 years than in 53 years from 1951 to 2004. This Rs 23,00,000 of newly manufactured money reduced the value of the then existing money, which was nothing robbery. The only reason why prices of everything is rising is increase in Rupee supply. One may say that crude prices increase in Jul-2008 due to increase in crude prices of dollars. First, crude prices increased from $30 in 1990 to $ 130 in 2008 because US$ supply had gone over 5 times in 18 years, if one also takes Govt Bonds into account. And if Rupee supply had not increased since 1991, then Indian rupees would have increased from Rs 50 per dollar to Rs 10 per dollar and so the price of crude in Rupees would have remained unchanged, Hence, only reason for increase in petrol prices in India was increase in rupee supply, as there is no other reason. For more on these issues, please click here
         But most intellectuals are clear about following things
  1. The common citizens need not or rather must not be informed about this money issuing business.
  2. The manufacturing of new M3 does not reduce purchasing powers of M3 citizens had.
  3. And so the citizens must not have any control over the process of manufacturing new money and deciding who shall have the newly created money first.
         This is the most important reason why few commons know about the fact that Rs 750,000 crores, more than what 80 crore Indians earned in whole year was something that those close to banks got for mere “promise to repay”. How can commons ever prosper if there whole year’s labor income is less than what people at top can get by making mere “promise to repay”?



3.    Solutions


         MRCM party demands and promises the following changes in currency system. And we promise and demand to enact them using Third Proposed Change only.
Citizens’ Rupee System
  1. Enact procedure by which citizens can replace Chairman of RBI, SBI
  2. Confine all Govt banks to fund transfer and storage. Merge all Govt banks with SBI.
  3. Reduce the role of Govt banks in loans. The Govt banks shall give loans ONLY to citizens, and not companies, and less than Rs 200,000 per person at interest of 8% to those who qualify.
  4. The Govt banks shall only support savings accounts where persons will get 6% interest on minimum balance held in the year. For senior citizens, it will be 8% interest on minimum balance held in the year below Rs 15,00,000 and 6% on amount above Rs 15,00,000. In addition, the interest will be 3% of minimum balance in the month as today.
  5. There will no interest to deposits of trusts and private companies. Those who want more interest may go to the private banks.
  6. The Govt shall insure only the deposits in Govt banks and not in private bank
  7. The Govt shall form the Depositor Groups for each private banks to regulate the private banks, and shall supervise the functioning of the Depositor Groups. But Govt shall not regulate private banks.
  8. RBIG will issue M3 to cover interests and support deficits in Military, Police, Courts, class-I-XII education, health, senior citizen support, disabled support and for no other reason.
  9. Enacting a law that the RBIG shall not increase M3 without over 51% citizens’ registering their YES except for needs of Military and war.
  10. No Govt body will be hence forth allowed to take any debt
  11. Universal Banking System : Every citizen will have at least one account with SBI at the branch close to his home. All his transactions with Govt etc will be via that bank. and via that account. The account number will be same as his Tax-ID (cum National-ID when National-ID system comes) and same as his Universal Mobile Number and Universal Email Account on GoI domain. Every transaction in this account will be sent as SMS to his mobile.
  12. Disputes with Govt Banks will be resolved by Jurors
  13. Steps to stop underground banking : Govt of India will force every bank in the world including Swiss banks to disclose the wealth of every person in India in that bank
  14. National ID system to keep track of accounts.
Converting existing system into Citizens’ Rupee System
  1. All FDs owned by individuals will be added to their Savings Account with interests, and those owned by companies etc will be added to their current accounts.
  2. Govt shall create M3 to repay all Govt, PSU bonds
  3. Interest on all outstanding loans from Govt banks will become 4% and all loans will have to be repaid by 180 monthly installments for housing loans, 48 installments of vehicle loans and 120 monthly installments of all other loans.
  4. The late payment penalties will be 8%. The property will be auctioned within 30 to 120 days when unpaid installments exceeds one-forth the principal amount. The auction will be used to pay off the loan and if there is any surplus, the money will be returned to borrower. If there is any deficit, it will be written-off.
  5. No new loans will be issued against the money repaid in above loans



4.    Replacement procedure for RBI Governor


         Following is the description of the most importance Govt Order we MRCM propose-demand and promise to fix the Rupee System of Indian
  1. Any citizen of India can pay a deposit same as MP election to the PM’s secretary and register himself as a candidate for RBIG (Reserve Bank of India’s Governor).
  2. Any citizen of India can walk to Talati’s office, pay Rs 3 fee , approve at most five persons for RBIG position. The Talati will give him a receipt with his voter-id# and the persons he approved.
  3. A citizen can cancel his approvals any day as well.
  4. The Talati will put the preferences of the citizen on district’s website with citizen’s voter-ID number and his preferences.
  5. If a candidate gets approval of over 50% of ALL registered voters (ALL, not just those who have filed their approval) then PM will expel the existing RBIG and appoint the person with highest approval as RBIG.



5.    Draft of the Govt Order to create replacement procedure for RBIG


         The citizens should create this change AFTER the third change has come into effect, and should create this change using the third change. Following is the draft of the law needed to create a procedure using which we commons can replace RBIG

# Procedure for Procedure / instruction
1 - The word citizen would mean a registered voter
2 Cabinet Secretary If any citizen of India wishes to become RBIG (Reserve Bank of India Governor) , and he appears in person or via a lawyer with affidavit before the Cabinet Secretary, the Secretary would accept his candidacy for RBIG after taking filing fee same as deposit amount for MP election.
3 Talati , (or Talati’s Clerks) If a citizen of that district comes in person to Talati’s office, pays Rs 3 fee , and approves at most five persons for the RBIG position, the Talati would enter his approvals in the computer and would him a receipt with his voter-id#, date/time and the persons he approved.
4 Talati The Talati will put the preferences of the citizen on district’s website with citizen’s voter-ID number and his preferences.
5 Talati If a the citizen comes to cancel his Approvals, the Talati will cancel one of more of his approvals without any fee.
6 Cabinet Secretary On every 5th of month, the CS will publish Approval counts for each candidate as on last date of the previous month.
7 PM If a candidate gets approval of over 51% of ALL registered citizen-voters (ALL, not just those who have filed their approval) in a district, then CM will expel the existing RBIG and appoint the person with highest approval count as RBIG.




6.    More on the existing Rupee supply


         The Rupee supply, which can be seen as sum total of Rupees issued by Govt or assumed to be insured by Govt must be under direct control of citizens.
         To understand how Indian elite is robbing us commons with support of rotten officials in RBI and Finance Ministry, one needs to understand what money supply means and amounts to. I believe that every increase in rupee supply is confiscation of some of the wealth of those who are holding rupees. Of course, every intellectual opposes this view and insists that Indian citizens should not bother elitemen and let them issue as many rupees as they want. We at MRCM party have decided to end this elite-intellectuals raaj in RBI for once and for all.



7.    Government Debt


         Does a father have right to make promises on behalf of his son? Or should a father be allowed to create debt for his son? Or rather, does a father have right to sell his son into slavery? If not, government has no rights to do debts. A person’s debt dies with him. A private company’s debt dies with death of the company or its owners and a public company’s debt is NOT shareholder’s liability and does not go to next generation. But the government debt, which is created by officers appointed by TODAY’S individuals, gets carried on the next generation, with huge interest. The government debt is essentially a mechanism by which RBI-heads and owners/controllers of scheduled banks are converting the Indians into their slaves. The internal debt can still be wiped off by inflating the currencies. But what about external debt? Any Finance Minister with even 1% morality would have hesitated in creating debt is foreign currency. Essentially what Manmohan Singh (and other Finance Ministers) have done is told American Bankers’ following “Give me X billion dollars and ours sons will repay. If not, they will be your slaves.” If one has slightest sense of morality, he would reject the concept of government creating debt. We at MRCM Party has enact a law that would enable citizens to imprison an officer who takes external or even internal debt and thus put an end to Govt Debt.



8.    Citizens’ Rupee System Law and Deficit Financing


         The above Legal Tender Law does not prohibit govt. from deficit financing. It only insists that such an action would need issuing new Legal Tender, and would need a approval of citizens.



9.    Main differences between existing system and Citizens’ Rupee System



Existing Elitemen-Intellectuals’ Rupee System Proposed Citizens’ Rupee System
The PM appoints RBI-Governors/Directors. Since the super-rich have nexuses with PM and also have ability to blackmail PM using newspaper/TV, in reality, the super rich decide who will get these jobs. So citizens have no control over RBI-Directors etc. The PM appoints RBI-Governor/Directors. But citizens, using Approval Filing and Jury Trials, can expel/replace them. So citizens have control over them.
The RBI-Governor consults the PM/FM and super-rich and issues Rupees. The private bankers also create money from thin air. RBI-Governors can issue Rupees ONLY after majority of citizens have Approved.
The disputes are resolved by judges. Due to continuous proximity with same layers and relative lawyers, the judges develop nexuses us with lawyers and so dispute-resolution favors becomes biased in favor of those who can hire these lawyers. Also Citizens of India have lost faith in judges and Indian judges are too busy and can seldom resolve a case in time. The disputes are resolved by 12 Jurors (randomly chosen common citizens) who have extreme Hatred against criminals. Also, the lawyers will not be able to form nexuses with Jurors as Jurors change with every trial. Further, Juries can give continuous un-interrupted hearings for days and thus resolve the cases faster.



10.    Controlling inflation


         The one and only cause of inflation is increase in currency supply. The proposed law puts restriction that RBI cannot increase M3 without permission of over 50% citizens. The cost of obtaining permission will be about Rs 150 cr to Rs 300 cr. So even if citizens are asked 4 times a year, the cost will still be Rs 1200. Is the cost too much? Well, RBI had raised money supply by Rs 750,000 in 12 months in 2007-2008. So the cost of permission is less than 0.5% and is very much acceptable cost.



11.    Other party’s and intellectuals stand on changing RBI


         The leaders of other parties and all intellectuals are simply hostile to increase citizens’ control over RBI Chief and the Rupee Supply System. improve Police Dept. Every party’s leaders have refused to increase the number of policemen. They are openly hostile to procedure by which we commons can replace District Police Chief and insist that Police Chiefs must be imposed from top. They further insist on keep salaries of policemen low so they have to depend on bribery and thus they can be pressurized. The leaders of other parties have also refused to enact Jury System by which citizens can expel policemen. We request all citizens to ask their favorite party’s leaders on what they intend to do on issue of corruption in policemen and decide if they are worth voting for. And we also request activists to ask intellectuals on this issue, and decide if they are worth following.



12.    Execises


  1. What was RBI’s money supply (M3) in Jan-1 or any near by date of 1951, 1961, 1991, 1992, 1993 ..., 2000, 2001, 2002, ..., 2008? By what fraction has money supply increased in 1951-2008, 1991-2008, 2004-2008?
  2. What was US’s money supply (M3) in Jan-1 or any near by date of 1951, 1961, 1991, 1992, 1993 ..., 2000, 2001, 2002, ..., 2008? By what fraction has money supply increased in 1951-2008, 1991-2008, 2004-2008?
  3. What was currency volume issued by RBI as on Jan-1 or any near by date of 1951, 1961, 1991, 1992, ..., 2000, 2001, ..., 2008? By what fraction has currency volume increased in 1951-2008, 1991-2008, 2004-2008?
  4. Who got the M3 that was manufactured in 2008?
  5. If the money supply doubles, what will be effect on prices of petrol and other things?
  6. With whose permission did banks create new money?
  7. True/False --- Sum of passbook total
  8. Consider a state with 5 cr citizens. Say the state creates 100,000 cases a year. If one judge can resolve 80 cases a year, how many judges would that state need? And how many cases that judge would resolve in his 30 year career? If Jurors are used, how many Jurors would be used in that period of 30 years?
         [Following questions require 12th class knowledge of Probability Theory. Use calculator or Excel as needed]
  1. Consider District-A which has recruited 100 judges to solve 8000 cases a year for next 30 years. Consider the probability of judge becoming corrupt from non-corrupt as 0.001 in each case, but once he becomes corrupt, assume that chances that he will take bribes are now 0.2 . Then what % of cases in first year will show corruption? Calculate the number for each of the next 30 years in District-A
  2. Consider District-B which has decided to use Jury System for 8000 cases a year. Say a Juror is corrupt with probability of 0.2. The verdict will be corrupt only if 4 or more Jurors are corrupt. So what $ of verdict each year will be corrupt in District-B?
  3. Consider District-A which has recruited 100 judges to solve 8000 cases a year for next 30 years. Consider the probability of judge being non-corrupt as 0.001 if all lawyers and aasils are not relative and 25% if lawyers are judges’ relatives. How many cases a year will contain corruption?
  4. Consider a career criminal who commits 20 crimes a year. Say possibility of getting caught and punished is 10%. Then after 5 years, what the chances that he is still not imprisoned?
  5. Consider a gang of 50 criminals. Say they commit 200 crimes a year. Say conviction rate is 3%. Then what are chances that not even member is imprisoned in 2 years?
  6. Consider a gang of 50 criminals. Say each time a member is imprisoned, two members quit. Say they commit N*20 crimes a year, N is the number of members in the gang. Say conviction rate is 5%. What will be the expected size of the gang after 5 years?



13.    Exercises


  1. How many lower courts are there in India? What are the number of pending cases? If one court disposes say 80 cases a year, how many years would it take for the lower courts to dispose the cases?
  2. Whose discretion is used in deciding new SCjs?
  3. Whose discretion is used in deciding new HCjs?



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