EDITORIAL
BY DHIREN SHAH
Hello Readers,
I like some quotes from WhatsApp. 1. How come we choose two people for president and fifty for Miss America? 2. A lawyer is someone who writes a 40-page document and calls it a brief! 3. A business executive is someone who talks golf in the office and business on the golf course! 4. Too often people who want to offer sound advice give more sound than advice!
These quotes made me want to write about judges’ selections. I don’t like the selection process for the judges in America. There should be a mayor, governor or president who selects two or three nominated judges for each post and all the lawyers of the constituents involved can vote for the selection of a judge.
Will the Indian Rupee take the place of Dollar transactions in the world? Right now, the Dollar is the most accepted currency in the world. The world trusts the Dollar in transactions from one country to other. Now, 60 banks in 18 countries have agreed to transact in Indian Rupees. Those 18 countries are the United Kingdom, Malaysia, Russia, Singapore, New Zealand, Sri Lanka, Myanmar, Botswana, Israel, Fiji, Oman, Germany, Kenya, Guyana, Mauritius, Seychelles, Tanzania. The Reserve Bank of India (RBI) has approved 60 requests to open Special Rupee Vostro Accounts (SRVAs) of correspondent banks from 18 countries.
We are receiving many robocalls from different local numbers. When you dial back the same number, you will find it is disconnected. If the number belongs to Verizon or AT&T or another company, they must be held responsible for those cancelled, unused phone numbers. They must create a program so that no one can use unallocated phone numbers. If someone is smarter than them and uses those numbers, those companies must be held accountable with fines.
In 18 months (Form Jan. 1, 2021 to June 30, 2022) Congressional Candidates have collected $2.4 billion, Political parties received $1.4 billion and Political Action Committees (PAC) raised $5.5 billion. The race for money should be stopped. As more of our representatives are sold out to the lobbyists, others do not have any choice but to accept money from those giant money dealers. The 331 candidates running for the Senate in 2021 and 2022 have reported raising $943 million.
Party committees for the Democrats have raised about $686 million and party committees for the Republicans have raised over $702 million. With the other parties raising about $5.3 million, the total money raised is about $1.4 billion by the big parties. So, the total money raised in 18 months is about $8.3 billion. Do you think that it will not end up back in their pockets? So, the cost for the taxpayers, directly or indirectly, might be five times more than what they have raised.
Federal Reserve Chairman Jerome Powell announced a .25% interest rate hike. It will help to control the inflation, but it will not stop a recession in the year 2023 year. Also, more banks may soon fail.
Have a wonderful week. I’ll talk to you next week.
