Travel In Style - Corrupt Class Round Trip to Mauritius & Switzerland

In Middle school a class mate who otherwise had a reputation of being a pompous ass, asked me once “ Do you know where the capital of India happens to be ?”
“New Delhi” , I answered promptly only to be told “ No its somewhere in Switzerland ha ha ha” I was neither amused nor impressed at the time but over the years there seems to be more to it than just a haha.

Like “American Agents” , “Cultural Colonialists” and other pet obsessions of the ossified leftist intellectual elite “Swiss Bank accounts” were much spoken of but little understood

But the hate object has become a multi headed hydra and capital re-routing has trumped the unimaginative capital flight. What is more, money flies first class or chartered and it is mostly a round trip. This opacity is something which is now reaching proportions that threaten the existence and development of a free, fair and competitive private sector.

The other day, a taxi driver questioned me eagerly with reference to the massive amounts being quoted in the 2G scam. His query was simple that if a crore of Rupees is enough to stuff two large suitcases. Where is the luggage room in Lutyen’s Delhi ?

We have no understanding of how such massive amounts are salted away or re-deployed without trace .That foreign destinations with poor governance practices have become a favoured point of arrival for dirty money is not surprising but the complicity (or at least silence) of the financial policy makers in allowing its re routing has given healthier returns to the corrupt .

My argument is that all this talk of Swiss account details etc is a distraction which is being conveniently played up. This is like a bad Bollywood script hangover from the 70’s . Can you imagine a dialogue in today’s blockbuster that says “Main Bees lakh ka sona Versova beach pe laa raha hun”. Something similar here. With a booming economy like only one other place in the world, India’s corrupt want their returns at Mutual Fund rates and equally tax exempt why would they keep it in Europe where the only banking department busy is the one dealing with bounced cheques ? The money has to come back here.

The real enablers are secure tax havens and the inflow participates nakedly via current and capital account. The modus operandi is never investigated. Think Why .
Now comes the really scary part. There is a very strong possibility that re-routed ill begotten wealth is provided with a policy cushioning since there is preferential treatment in select sectors for FDI. The so called Foreign investment is legitimately alien simply because it originates abroad.

What are the mechanisms of bank transferences and how does the under / over invoicing happen ? Is there a scrutiny of remittances ? Are all CAG observations followed through into personal finances of persons involved in executive authority ?
What is our reach into not just Switzerland but also the Isle of Man, Jersey, Liechtenstein, Singapore, Russia ,Mauritius, Cyprus Dubai etc. Why is a banking system allowed insulation even though it is the major conduit of investments ? Is it not in national interest to be able to know, if needed ?

In Wall Street – Money Never Sleeps , Godon Gekko says “Money is the bitch that never sleeps. She keeps one eye open at night, watching you, and if you don’t pay close attention one day you'll wake up, and she'll be gone”

Where to ? That is the question I am asking.