Recent comments in /f/worldnews

soAsian t1_je0rco7 wrote

this news is why i don't believe Ukraine doesn't have big loss in Bakhmut as well. the meat grinder kill all.

Russia have far more people to draw and if this war keep going like the West want to bleed Russia dry. Ukraine will get bleed out as well.

Numbers is a quality. lets let Ukrainian dies off for our "freedom". since no one want a peace deal until Ukraine get all its lands back

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autotldr t1_je0p0ab wrote

This is the best tl;dr I could make, original reduced by 79%. (I'm a bot)


> Paris - French authorities raided five banks on Tuesday as part of an investigation into suspected cases of massive tax fraud and money laundering, prosecutors said.

> The raids follow five preliminary investigations that were opened in December 2021 in connection with suspected money laundering and aggravated suspected tax fraud related to dividend payments, the statement said.

> A German court in December sentenced lawyer Hanno Berger to eight years in prison over the "Cum-ex" tax scam, convicting him of three counts of aggravated tax evasion.


Extended Summary | FAQ | Feedback | Top keywords: tax^#1 fraud^#2 bank^#3 raids^#4 suspected^#5

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EyeLikeTheStonk t1_je0ozd7 wrote

Not a good idea... India's currency has consistently lost value to other currencies since India's independence in 1947.

In the past ten years, in 2013, 53 Rupees were required to buy 1 USD, in 2023, 82 Rupees are required to buy 1 USD.

In 1947, only 3.3 Rupees were required to purchase 1 USD... So in the last 76 years, the Rupee lost 96% of its value compared to the USD.

In the same period, since 1947, the Canadian Dollar (CAD) only lost 27% of its value and nobody is suggesting making the CAD into a reserve currency.

Any Indian investor whop spent his Rupees buying American dollars 10 years ago has gained a 54.7% profit. That's a solid 5.5% yearly gain. That is more than the average yearly 4.4% stock market return over the last 10 years. The Rupee cannot even beat the stock market...

What if India and China get involved in an armed conflict?

to know what would happen to the Rupee, just look at what happened to the UAH (Ukraine), in 2014 and in 2022 because of the 2 Russian invasions, over 10 years it lost 83% of its value... (source).

So if China and India get into an armed conflict, which they are likely to do, expect the value of the Rupee to be cut by half within days of the start of the conflict.

Making the Rupee into a reserve currency is dumb since it has always consistently lost value compared to other currencies because the goal of a reserve currency is to hold the one currency that does not lose value while all other currencies collapse.

Switching to the Rupee is a recipe for complete and utter economic disasters for those who move away from the USD.

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