Seigniorage Explained

Seigniorage is the mechanism of raising funds by printing of currency for Government spending.

For e.g. if the Reserve Bank of India mints 1 Crore - 5 Rs currency notes (i.e. 5 Crore Rs. worth) and assume the cost of manufacturing each note is 1Rs. So the Reserve Bank raises 4 Crore Rs in this Seigniorage process. This money can be used for all Government Fiscal spending. The catch here, what is the effect of unregulated Seigniorage? Can the government just keep on minting notes to counter the fiscal deficit and to fund government related spending?

You may recall from Indian History one of the blunders commited by Mohammad Bin Tughlaq! He was extremely interested in Coinage and minted numerous Brass and Copper coins. Being commonly available metals, every house in India started minting their own coins (i.e forged coins). The supply of currency increased so much that it threatened economic collapse through increased inflation. The Sultan had to buy back all the currency from the public (including the forged ones) by paying in bullion/gold.

Therefore the main consequence of expansion of money supply is Inflation. Inflation as we know means that all our money deposits and funds that we possess become lesser in value.

Thus we can see the need for controlling monetary expansion and ensuring the value of currency. This regulation is done by Central banks and regulatory bodies such as Reserve Bank of India and MAS (Monetary Authority of Singapore) etc.

Wow economics is damn interesting aint it!

Faith and Science

http://www.wellingtongrey.net/miscellanea/archive/2007-01-15%20--%20science%20vs%20faith.png

Bad Day

You wake up in the morning and something seems wrong and you know it is your bad day.

You have run out of toothpaste.
The water inlet pipe breaks leaking water all over.
The coffee boils over making a mess of your stove.
There is a button missing in the shirt you had pressed with care.
You rush to the bus stop to realise that you missed the bus and next one is 30 min later.
You hurry to office in a cab hoping that no one noticed that you are late.
You realise your whole team is awaiting your arrival to solve some critical problem.
Your inbox is full of mails with critical status that have to be replied to.
You are served burnt and yucky tasting food at lunch.
With severe headache you have to attend a really long and boring afternoon meeting.
You sweat it out to get the applications running on the server and realise that someone has pulled the plug off!
Just when you are about to leave someone requests you to solve a problem for him.
Finally after braving all these you go home And you thank god that the day is over!!!

And thatz the best time to hear the following song by Daniel Powter titled "Bad Day".
It is like rubbing salt on your wounds, yet it is damn good!

---------------------------------------

Where is the moment we needed the most
You kick up the leaves and the magic is lost
They tell me your blue skies fade to gray
They tell me your passion's gone away
And I don't need no carryin' on

You stand in the line just to hit a new low
You're faking a smile with the coffee you go
You tell me your life's been way off line
You're falling to pieces every time
And I don't need no carryin' on

Because you had a bad day
You're taking one down
You sing a sad song just to turn it around
You say you don't know
You tell me don't lie
You work at a smile and you go for a ride
You had a bad day
The camera don't lie
You're coming back down and you really don't mind
You had a bad day
You had a bad day

Will you need a blue sky holiday?
The point is they laugh at what you say
And I don't need no carryin' on
You had a bad day
You're taking one down
You sing a sad song just to turn it around
You say you don't know
You tell me don't lie
You work at a smile and you go for a ride
You had a bad day
The camera don't lie
You're coming back down and you really don't mind
You had a bad day(Oooh.. a holiday..)

Sometimes the system goes on the blink
And the whole thing turns out wrong
You might not make it back and you know
That you could be well oh that strong
And I'm not wrong(yeah...)

So where is the passion when you need it the most
Oh you and I
You kick up the leaves and the magic is lost
Cause you had a bad day
You're taking one down
You sing a sad song just to turn it around
You say you don't knowYou tell me don't lie
You work at a smile and you go for a ride
You had a bad day
You've seen what you like
And how does it feel for one more time
You had a bad day
You had a bad day

Life 70 mm

Akayla (1991)

Dil To Paagal Hai (1997)

Unnal Mudiyum Thambi [you can do it brother!] (1988)

Talaash (2002)

Koi Mil Gaya (2003)

Tum Se Milke (2003)

Kyun? Ho Gaya Naa (2004)

Jillendru Oru Kaadhal [A cool Love] (2006)

MujhSe Shaadi Karoge (2004)

Shaadi Se Pehle (2006)

Vivaah (2006)

Shaadi Karke Phas Gaya Yaar (2004)

Snapshot

Books of the Month:
Five Little Pigs - Agatha Christie
Four Clocks - Agatha Christie
Warren Buffet Illustrated Cartoon

Songs of the Month:
I'm glad : Jenifer Lopez
Would You: (Touch and go)
Chup Gaya - Hum Aap Ke Dil Mein Rehte Hain
Dole Dole - Pokiri (Telugu)
New York Nagaram - SOK

Faces of the Month
Anoushka - from movie Rendu in Tamil
Anonymous face that I saw in Jurong East MRT

Stock Picks of the Month
CNN - IBN
Mindtree

Discussions of the Month
Real Estate Investments
Mutual Funds Investments
Ethical issues regarding ppl who have been thru break ups and past commitments

Targets of the Month
Enjoy as much as possible :)
Target 2 more kilos loss
Trek up Mt. Guilin
Jog around Bukit Batok Nature Reserve

TV Programs of the Month:
Seinfeld
Fashion House (just saw one episode, itz hot)
Jodi No 1
Kalakka Povathu yaaru

Movies of the Month:
None Till now

Biting Philosophy - Thathuvam Solren Kettuko

I had recently gone to these comedy dramas in Chennai. One of them was titled "Thandramukhi" by Y.Gee Mahendran's troupe. It was one laughing riot. The following are excerpts from the drama:

Thathuvan Solren Kettuko:

1. Ticket Vaangi Ulla Ponaa adhu Cinema Theatre
Ulla Poi Ticket Vanginaaa adhu Operation Theatre!

2. Daily Calendar'la thedhi (date) kizhikkarom, adhu namakku theriyum
Anaaa andha thedhi-laa naama ennaa kizhikarom-nu andha calendar-ku theriyumaaa!

3. Kaasu irundha Call-Taxi. Kaasu illena Kaale Taxi!

This is a latest addition damn good:

bus un mela aerunaalum nee bus-la aerunaalum ticket edukka poradhu nee thaan. :D

The Kolkata Experience

I had really fond childhood memories of Kolkata. I again visited Kolkata this December 2006 after a gap of around 14 years. Though I dint see any major changes / developments compared to high growth cities like Bangalore, Hyderabad and Chennai I was still glad that Kolkata has maintained its unique cultural flavor.

KOLKATALOGY

Radha Pallavi
(Radha = Poori like Kachoris with Pallavi = Aloo Dum like Subzi)

Singhada
(~ equivalent of a Samosa but not quite the same)

Misthi Doi (Dahi)
(Sweet Curd)

Puchka / Fuchka
(~ Paani Poori)

Rosho-gulla
Rasagullas

Mouchak
(A Sweet and Savories Shop in Gol Park)

Park Street
( A famous street in Kolkata with lots of restaurants and brightly lit)
~ MG Road in Bangalore, Orchard Road in Singapore)

Peter Cat
(a famous Restaurant on Park Street)

Bhalo Aa-chi ?
Doing good?

Teek Aache
Am good!

Ami Thumi-ko Bhalo Baashi
I like you very much (~ I Love U)

Air Post

It has quite become a tradition for me to blog from the airport before boarding the flight. Going home after a year! Have been really looking forward to this trip.

This probably would be one of the last posts in this year. I am quite satisified with myself (for once) with the way it has turned out. Achieved some personal targets, travelled around a bit, made some decisions, postponed some decisions and overall had decent fun.

So Merry Christmas All!!


Signing off

AR Rahman At Work

Down the Memory Lane

It has been three years since I have been blogging now. I must say the Bangalore experience was very inspirational. Below are some of the blogs that I had written while at Bangalore.


LOVE BY THE PIZZA
Women are the primary source of inspiration and catalysts for Poets and the following is an outcome of such an inspiration:

I Saw a face
I Saw a face
She left a mark
which I cant erase

It was in a brigthly lit corner in Pizza hut
That my eyes fell upon an angel so white
But not to have noticed her for long I really must be a nut
She was really so beautiful and a Wonderful "Sight"!

I tried hard to make eye contact,
But she had enough people around her to distract,
Soon it was time and I had to leave
And now I had enough reasons to grieve.

I left with a heavy heart
With so much unsaid I still had to part.
But I am sure I will meet her again
My time will come and I have everything to gain!

I saw a face
I saw a face
She left a mark
which I cant erase!!

P.S.: A Recent face that I liked (Bhavna from Veyil). Pluses were the the vibhuthi, jimiki and the overall simplicity.



YOU HAVE GOT MAIL

Recently I got so bored writing these usual dull e-mails that I thought I indite something more lively and it was quite a good experience for me. So here is the outcome of my writing effort.
TO: FRIENDS
FROM: ME
MESSAGE:START

Hey guys I am very much sorry for my previous mail,
I owe you all an apology without fail.
It was out of sheer boredom,
that I began my quest for poetic wisdom.

Writing good verse is really hard,
and it is not easy to become a poet or a bard.
I know my verse lacks coherence and continuity
When it comes to writing poems I am nothing but a 1 by infinity!

I know you guys must be really busy with "heaps" of work,
or "Stacks" of Tasks or "Queues" of chores
But take this "Pointer" of a humble fool,
Take it easy, relax and cool!

I do know that the last bit was really pathetic,
So there is no need to get very much emphatic!
I would like to sign off now
but before that I do vow
That if I do find little leisure time
I will hit your inboxes with some more rhyme!

MESSAGE:ENDS

Lines to Remember

"Blistering Barnacles and a Thousand Thundering Thyphoons!"
Captain Haddock - Tintin

"I have the Power"
He Man and The Masters of the Universe

"Duh"
Moose Mason - Archie Comics

"Whoops daisies!"
William Thacker (Hugh Grant) in the movie Notting Hill

Yo Ho Ho and a Bottle of Rum
"Fifteen men on a dead man’s chest
Yo ho ho and a bottle of rum
Drink and the devil be done for the rest
Yo ho ho and a bottle of rum"
Pirates Song - Treasure Island (R.L. Stevenson)

Bollocks Bollocks Bollocks
Susan Walker (Sarah Alexander) - Coupling

Yada Yada Yada
Seinfeld (http://www.seinfeldscripts.com/TheYadaYada.htm)

"I yam what I yam, and that's all I yam,"
Hu-ga-ga-ga-ga....
Popeye the Sailor Man
_______________________________________
This post is dedicated to the following two SUPERHEROES!!




This Guy is amazing cos' he is witty, with an awesome attitude and eats a lot and still manages to stay really fit. (He must be working out secretly ;) )











This guy is a real hero. Awesome fore-arms, an upright person, powerful and humorous. I am yet to discover the equivalent of spinach in my life :D!

Curiosity Fills the Board - Box Office Hit

There is no denying that People are curious. They are curious about their environment, about other's lives etc etc. Curious people need to be fed constantly with intriguing thoughts and things to keep them satisfied and I am more than ready to oblige to do that.

My cubicle in office is situated right next to the pantry. All those curious people who pass my cubicle while on their way to the pantry can't help but stare into my cubicle and at my white board because their curiosity tells them to do so. Poor souls.

So as my duty I have to feed them interesting things to ponder about. So what we(me and my colleague) did to my discussion white board was this:

We wrote some random (bull-shit) equations (and made sure that we covered most symbols like double differentials, Cyclic Integrals, Limits) and made a derivation which resulted in a mathematical percentage value. Here comes the most important line, we wrote "SUCCESS" in the last line implying we achieved something.

To add to this soup we drew some random graphs to resemble some break even analysis combined with some complex efficiency index. :D
Snapshot of our board:

We just left these on the board for around 2 days to judge the response. We had released our
First movie and we did not know how it had fared in the box-office.

Two days later, I am in the pantry and one person comes to me and says, "wow so many equations and formulas on your board, what is up?" (really curious)"

I casually shrug my shoulders and reply "oh that was nothing, some really simple stuff
that we were discussing the other day" !
[He is totally baffled and I left him alone to think about it!!! :D]

Now showing: Mash You Up (The Master MashUp )
Trailer:

Chennai 600028

Hot news! Finally they are taking a movie titled (or based) on my home locality Raja Annamalaipuram ("enga area") called "Chennai 600028".

http://in.movies.yahoo.com/060918/125/67on1.html

The weird thing here is that it is being shot in Bangkok :D

Hopefully they do show some parts of RA Puram. Have to WAIT N SEE!

The Chennai December Music Season

Characters: Sambhu, Uncle (Mama), Aunty(Mami)

Sambhu:
Nethikki OS Thyagarajan kutchery poi irundhele eppidi maama irundhudhu?
Yesterday you had been to OS Thyagarajan's kutchery (concert). How was it uncle?

Uncle:
one aam class daa. suda suda mollaga bajji ennama irundhudhu theriyumo!
First class daa! The Mollaga Bajji (Chilly Pakora) was excellent!

Sambhu:
enna maama solrel, kutchery epdi irundhudhu?
What are you telling uncle, I asked about the concert?

Uncle:
unnaku vishiyam theriyumo un friend Baskar irrukanono, oru ponnoda vandhurundhaanda!
Do you know, your friend Baskar had come with a dame?

Sambhu:
avan girl friend aa irrukum maama, namakku edhukku oor vambu, seri innum kutchery-epdi irundhudhunnu sollave illiye?
It must have been his girl friend uncle. Why poke our nose into other's matters. You have still not told me about the concert!

Uncle:
adhellam enakku theriyadhu daaa maami-ya kaelu daa!
These trifle matters I dont know, you can ask aunty!

Sambhu:
seri maami neengalavadhu sollungo kutchery epdi irundhudhu?
Ok Aunty, at least you tell me how the kutchery was?

Aunty:
cutchery aa adhu kadakkaradhu. indha pakathaathu pankajam irrukaalono!

Uncle:
Thadha-ri-naa-naa-tha-aa-aa-na
Humming a raga in an out of tune baritone voice!

Aunty: (Enraged at the interruption)
Yenna setha summa irrukelaa, mukiyamana vishiyam pesidirrukeno illiyo!
enna abaswaram paa. Suttu pottaalum ungalukku paatu varadhu,. ennatha
pathu varsham paatu kathundelo!

Uncle: (teriffied and embarassed)
Seri di nee sonna seri

Sambhu:
Enna maami ungaathula Madurai Strongaaa ! Seri sollungo , Pankajam maami...


Aunty:
Hmm cutchery kku pankajam enna altoppu theriyumaaa, pattu podavai enna, jarigai enna, necklace enna. Achacho sahikkala!

Sambhu:
Seri maami idhukkum kutcherykkum enna sambandham?

Uncle: (Back to his singing now but in a lower tone)
Sa-Dha-Ma-Ga-Tha-Ma-Dha-Ma (Saadham Aaga Thaamadhama)
Any delay in cooking the rice? (Question asked in a musical notation)

Aunty:
Enna thirumbi munumunuppu! Periya Kamal Haasannnu nenaippu.
Ungallukku innum oru mani neram kazhinju dhan saapadu!

Sambhu:
Seri naan kelambaren

Finally a disappointed Sambu returns home with no information on the actual concert!

RUDE AND RUDER

KEY:
[[]] - The text within the brackets are "Captain-Subtext"'s opinions.
(http://en.wikipedia.org/wiki/Jeff_Murdoch#Captain_Subtext)

ENCOUNTER WITH RUDE:

Rude is an old lady. The conversation happens in a flight or in some transit place.

RUDE: Hello, hi I am rude

ME: Hi, I am Me, nice meeting you. So you live in singapore?

RUDE: No, No I live in Chennai. My son lives there. I visit him regularly.

ME: So you like Singapore?

RUDE: It is OK. We are used to bigger places and more space. My son is getting adjusted. You know he was in Ammerikka before.

ME: Oh nice.
[[I am grateful for this wonderful piece of information so that I can improve my GK.]]

RUDE: Everything is so big there.

ME: Oh is it?
[[like what ;)]]

RUDE: So what do you do?

ME: I am studying Masters in Singapore.

RUDE: ok. You dint apply for Universities in Ammerikka? You know my son did his MS from XXX University. My son says American universities are much better than the ones in Singapore.

ME: oh ok
[[?? No comments. Sometimes the truth is bitter, but if you are chewing candy everything tastes sweet :D ]]

==========================================
ENCOUNTER WITH RUDER:

Ruder is a man around 35-40 years old and the conversation happens on the Bus enroute to office.



RUDER: Hi I am ruder. I have seen you in this bus quite often. Do you take this bus regularly?

ME: Hi I am Me. So you live in Singapore?

:D sorry went into cruise-control mode. Here is the altered response.

ME: Hi Am Me. Yeah I do take this bus quite often.

RUDER: So you work in "Low BP" Business park also?

ME: Yes

RUDER: Which company?

ME: You have heard of "Interesting Sea Inc. (ISI)" ?

RUDER: Oh "ISI" is it that old company that used to make those tools. Oh is it still around? I thought it went down in some financial crisis.

ME: no it is very much around
[[dude am I working in some ghost company]]

RUDER: You know I used to use those tools and products long back. It was OK. But you know "MacroHard" company came up with much better tools. I preferred using MarcoHard's tools to ISI tools.

ME: hmmmm
[[GRRRRRRRr..... who asked your preference man. BUZZ OFF]]

RUDER: So does ISI Inc. pay well? May I please know your salary, If you dont mind pleeeeez?

ME: duh! what? hmmm generally the Tech sector salary ranges are like (a+b) whole-squared IS-EQUAL TO a-SQUARED plus TWO-a-b plus B-squared . BLAH BLAH BLAH
[[This is my revenge. Let me confuse him as much as possible :)]]

Ruder's disappointed at not knowing my salary and is confused with too many details which make absolutely no sense. But I was atleast successful in picking his interest.

RUDER: I ONLY simbly asked NO. I dint know there were so many intricate things involved..
You know I work for "Unnecessary-Information Systems". Itz turn-over is Infinity, Market capitalization 1 Trillion, with an excellent p/e ratio and a growth Rate of "C" (SPEED OF LIGHT) and excellent compensation and benefits AND ALSO ....

I get to sit on a nice brand new pink color chair AND ALSO they serve nice "Aunty" Chips AND ALSO they serve Monkey brand biscuits in office. AND ALSO We get to work on cutting edge technology

ME: Thatz good.
[[Cutting edge it seems. So MR AND-ALSO is your "the-place-where-you-sit" bleeding?]]


RUDER: So I was just wondering you know. Basically I am proficient in ([A-Za-z0-9])* (Regular expressions for all possible acronyms) and I am BASICALLY very flexible and also very versatile and basically have very good communications skills also NO.

Since we know each other so well now, I would be extremely happy if you can forward my Resume for job openings in your Company.

ME: Thatz great.Yeah sure no problem.
[Happy Indeed. So Mr. AND-ALSO-BASICALLY-NO what happened to your Macrohard Preferences and Cutting Edge experiences.]

HAPPY DEEPAVALI

Random Thoughts - Random Shots

Yours Royally

I just happened happened to come across this photographic novel called "Maharajas of India". It has some really rare and wonderful photos of the indian royalty and some interesting facts and stories about them. I have included some of the good ones below :

1. Maharajah of Patiala Hails (rather judges) Hitler

It was the time when Hitler was becoming popular and famous for his totalitarian and fascist dictatorship. The Maharajah of Patiala had this itching to visit Germany and travel around. So he wrote to the Indian Government (the then ruling authorities though it was under the British):

"There is also that rising Dictator, Herr Hitler, and it would afford me so much pleasure to see him and judge him on his merits or otherwise"

[Hilarious!!! A visit just to judge Hitler on his merits :D ]

The Maharajah then finally visited Berlin and had a meeting with Hitler that lasted 30 minutes. After all this pain you know what the Maharajah first spoke to Hitler ?

He began telling Hitler how much he had to pay extraordinarily for the Medical fees in Germany earlier!! Hitler did not even respond to this!

2. Bahadur Shah Zafar - The Shaayar
We all know that Bahadur Shah Zafar was the last of the Mughal rulers. He was imprisoned at the age of 80 and his sons were killed, for being a part of the Great Indian Sepoy mutiny of 1857. He had also another side to him. He was a great poet and below is one of the verses he wrote when he was in the midst of all this misery:

The Tempest of Misfortune has overwhelmed me
It has scattered my glory to the winds
And dispersed my throne in the Air

Bahadur Shah Zafar was exiled in Rangoon which is where he died.
The following was the verse written by him as his epitaph (translated in english):

My heart is not happy in this despoiled land
Who has ever felt fulfilled in this transient world

Tell these emotions to go dwell elsewhere
Where is there space for them in this bismirched (bloodied) heart

I had requested for a long life a life of four days
Two passed by in pining, and two in waiting.

How unlucky is Zafar! For burial
Even two yards of land were not to be had, in the land (of the) beloved


3. Washing Hands Washes Away the Throne

At a royal gathering in the year 1911, the Maharajah Jai Singh of Alwar chanced upon Queen Mary and King George V. As was the formality Jai Singh shook hands with the King and then with the Queen. It was considered a sin in those days for an Indian King to shake hands with a stranger woman and hence to purify his hands he washed himself with Ganges water later.
The English Royalty came to know about this somehow (:D) and this indiscretion cost him quite a lot and he was forced to step down by the British Queen.

Profound - Gems from the Gita

Indriyanam Hi Charatham
Yat manah anuvidhyathe
tad asya harati prajnam
vaayur navam ivambhasi

As a strong wind sweeps away a boat on the water, even one of the roaming senses on which the mind focuses can carry away a man's intelligence.


Yogasthah Kuru Karmani
Sangam thyak-thva Dhananjaya
Siddhi - Asidhyoh Samoh Bhoothva
Samathvam Yoga uchyathe

Perform your duty equipoised, O Arjuna, abandoning all attachment to success or failure. Such equanimity is called yoga.

280 S

He:
Oru azhagana ponnu irundha
Adha-vida oru Azhagaana paiyan irundhan
Avanga oru naal sandhichaanga

She:
innutu

He:
avalukku tamizhe varla di

She:
poda

He:
Avanukku avala pudichudhu
Anaa sollala
Yennu Therla
Andha ponnu pesuva pesuva pesi-kitte irrupa
Anaaa adhan avanukku pudicha raagam

Avan Thannodu ulagathaiye avaloda periya periya kan-la paathan

Avalodu kai-ezhuthu kirukkal
ana andha ezhuthukkal mela payithiyamaa irundhan

Ava mudi asaiyaradha paatha
andha kaathukke poramai varum

She:
Hey niruthu

He:
You know priya he just loved everything about her!

Naraiya kindal panni irrukan
Azha vechurukkan
He was really bad Priya
Anaaa eppavum thaniyaa irundhan

Avalukku avana pudichudhu priya
I dont know why
yaen Priya yaen Priya!

=== End of Post ===
Any takers for guessing the source of this post?