BRITISH WHITE CHRISTIAN THIEVES LOOTED MORE THAN 9 TRILLION POUNDS FROM INDIA OVER 173 YEARS

[FBInCIAnNSATerroristSlayer]

BRITAIN LOOTED MORE THAN 9 TRILLION POUNDS FROM INDIA OVER 173 YEARS

https://www.globalresearch.ca/britain-would-collapse-if-it-tried-to-pay-back-the-money-it-drained-from-india/5630289

‘Britain Would Collapse If It Tried to Pay Back the Money It Drained
From India’

Britain drained more than 9 trillion pounds from India over 173 years,
says economist Utsa Patnaik.

Britain would collapse if it tried to pay back the money it drained from
India, eminent economist Utsa Patnaik said at a conference at Jawaharlal
Nehru University, New Delhi on Wednesday.

Delivering the inaugural lecture at the three-day Sam Moyo Memorial
Conference on “Land and Labour Questions in the Global South”, Utsa
Patnaik said that the estimated drain from India to Britain over the
period from 1765 to 1938 was a whopping 9.184 trillion pounds, several
times the size of the UK’s GDP today.

Patnaik, who is Professor Emerita at the Centre for Economic Studies and
Planning (CESP), JNU, said that the policies followed by Britain during
its colonial rule in India were so disastrous that per capita food
grains availability in India declined drastically from 197.3 kg per year
in 1909-14 to 136.8 kg per year in 1946.

This was because the system was strongly income-deflating (reducing the
purchasing power of the people), which enabled the squeezing out of
export goods from a poor population. The result was a fall in per capita
food availability and declining nutritional intake.

In India, just as also happened in many countries in the Caribbean,
local producers were set to work to produce commodities – particularly
primary commodities which the colonial powers could never produce
themselves in their home countries. The colonial powers then proceeded
to appropriate these commodities.

In the Indian case, this appropriation took the form of getting Indian
peasants and labourers to produce an enormous global export surplus
which earned gold and foreign exchange.


“But the whole of this global export surplus earnings disappeared into
the account of the Secretary of State for India in London. Not a penny
of it, of sterling or financial gold, was allowed to flow back to the
colonised country. Then how did the producers get paid? Very clever.
They got paid out of their own taxes!” said Patnaik.

Surplus budgets were being operated systematically in British-ruled
India for the best part of 200 years.


“When you tax a population and you do not spend all the taxation within
the country, but you set aside a third or more for purchasing export
goods, the operation of such surplus budgets deflates mass incomes. It
puts a tremendous squeeze on the peasantry.”

“No country in the world today in the Global South has a per capita food
availability as low as the level India had reached by the year 1946.”

The amount of wealth drained out of India by Britain can be calculated
by estimating the present value of the commodity export surplus – the
estimate of 9.184 trillion pounds has been arrived at by calculating the
present value at a relatively low 5 percent interest rate.

Branko Milanovic talks about the ethics of global north to the global south.






READ MORE:Dollar Billionaires in Poor Countries: India’s
“Philantrocapitalism”


“He says Britain should return the money it drained from India. But the
fact is that this is impossible. Britain would collapse; it does not
have the capacity to pay even a fraction of what it drained over 200 years.”

Income deflating policies have resulted in food availability in India
declining

The main form that the neo-imperialist policies of income deflation
which are current today are taking is contractionary fiscal policy
supported by a whole range of other measures to attack small and middle
scale agricultural production.

For example, the share of rural expenditure in capital expenditure by
the centre and states combined has declined sharply since mid-1990s, as
Praveen Jha has shown.

The growth rates of public development expenditure by the centre and the
states saw a very sharp contraction in the first half of the 1990s. That
was when the structural adjustment and income-deflating programmes were
coming in, in a very strong way under Dr. Manmohan Singh. It
subsequently went up, but even as late as 2000-05, the growth rate was
lower than it was during the 1980s. Then it shoots up from 2005-06 to
2010-11, because of the impact of the global economic crisis and the
enormous rise in food prices. Again, in 2010-11 to 2014-15, when
Chidambaram was the Finance Minister, he pulled back very sharply, and
the growth rate of central expenditure again declined sharply. When you
have this kind of income deflating policy, the people will be forced to
cut back on their food expenditure and their nutritional standards will
come down.

In the pre-reform period, the food grain availability was rising, with
fluctuations – it increased from about 452 grams per capita per day in
1972 to 494 grams per capita per day in 1990. But with the onset of
neoliberal reforms, more land was diverted to grow export-oriented
crops, and trade was liberalised, while fiscal compression reduced
employment and incomes of the mass of the population. There was a
withdrawal of government support for procurement at minimum prices. As a
result of all these, there has been a steep decline in food availability
in the recent decades – it stood at 447 grams per head per day in 2013.

This has occurred in spite of production increasing.

When income deflation is very severe, even when output is going up,
demand will not go up in proportion because there is income deflation
and purchasing power is being compressed. So stocks will build up, and
there will be huge exports, with correspondingly lower food availability
for the domestic population.


“The per capita supply of cereals in India as of 2011 was 176.5 kg per
year, which is the level we had before World War II. And this is the
lowest in the world, taking large regions,” Patnaik said.

The three-day conference is being held in memory of Sam Moyo, leading
African scholar who passed away in a car accident in Delhi on 21
November 2015. He was the founder and executive director of the African
Institute for Agrarian Studies. An authority on agrarian issues, Moyo
was a progressive activist and a powerful voice in support of the land
reform process in Zimbabwe.

Papers on a wide range of topics touching the land and labour questions
are being presented at the conference, hosted by the Centre for Informal
Sector and Labour Studies, JNU.

The future of the development project

Jayati Ghosh, Professor at CESP, JNU, delivered a Special Lecture at the
conference on Wednesday evening, on “Global instability and the
development project: Is the 21st century different?”

Global capitalism has been characterised by instability and stagnant
growth in the recent years, she said. Much of the global growth during
2009-17 has been largely due to China and the US, while Europe’s net
impact has been negative.

Developed countries are not providing a net demand stimulus to the
global economy, as they are running current account surpluses or smaller
deficits than earlier, with Europe increasingly responsible for global
current account surpluses.

So far only the East Asian Newly Industrialising Economies such as South
Korea and Taiwan have been able to close the absolute income gap with
advanced countries, not China, South-East Asian countries or Latin
American countries.

The recent recovery in developing countries is built on huge amounts of
debt, while the developed countries have brought down their debt levels.

What about China?

China’s share of world trade has gone up enormously in the recent
decades. Its real GDP increased by 33 times between 1978 and 2015. The
Chinese growth miracle has been based on very high investment rates,
directed credit and state control. But the recent Chinese growth is
heavily based on debt. China is rebalancing now with reduced investment
rates and reduced economic growth rates. But as a result, Chinese
imports have come down more than exports. This rebalancing could be bad
news for the rest of the developing world if it reduces the demand for
their exports.

To revive the development project today, it is essential to recognise
that the obsession with exports is no longer useful. Export-led growth
is reaching its limits; the focus should be on wage and employment-led
growth. Asset and income inequality have to be addressed, more revenues
have to be raised from direct taxation. Capital and labour markets have
to be regulated, and finance has to be controlled to prevent crises,
reduce vulnerability and to direct credit to priority activities, Jayati
Ghosh said.

[RH156RH]

Translation: the territories of the Raj had the great good fortune to come under the firm guiding colonial hand of the country which developed the first industrialised state. This gave the subcontinent not only an inside track to the Industrial Revolution but also the great benison of the greatest b railway network in the world, the idea of Representative government, a modern civil service and army, schools, huge amounts of general infrastructure building from New Delhi to roads, the recovery of much of the subcontinent's archaeological past, and the stamping out of barbaric practices such as suttee... RTH

[FBInCIAnNSATerroristSlayer]

You, your ancestors and most of your fellow brits today have a GREAT
LIFE because YOUR ANCESTOR THIEVES LOOTED INDIA for 150 years.

You and your country WILL GO BANKRUPT and will be begging for food if
you pay the 9 TRILLION POUNDS of reparations back to India.

[RH156RH]

[Arindam Banerjee]

Forgot cricket

[RH156RH]

On Saturday, November 3, 2018 at 11:08:19 PM UTC, Arindam Banerjee wrote:
> Forgot cricket

....hockey, the English language, the vast treasure of English literature, the Common Law.... RH

[Arindam Banerjee]

Indeed. The success of some groups to extort undeserved wealth and power by whining considerably leads to grotesquely grabby behaviour from their wannabes. Emotional blackmail has its limits.

[FBInCIAnNSATerroristSlayer]

On 11/4/2018 7:34 AM, guypers wrote:

> On Saturday, 3 November 2018 19:08:19 UTC-4, Arindam Banerjee wrote:
>> Forgot cricket
>

> House nigguh boy?
>


Yes he is. Arindam Banerjee has reached a point of no return long time back.

[FBInCIAnNSATerroristSlayer]

On 11/3/2018 4:08 PM, Arindam Banerjee wrote:
> Forgot cricket
>

You were requested to see a shrink long time ago to get help for your
"slavish mind".

[Arindam Banerjee]

Your greedy grabby tactics are not working well. Low thinking can take one only so far. Okay whining did get your sort somewhere with foreign loans and grants, so they make more and more statues and profit from the siphoning. My money won't be wasted but the embarrassment will remain. Silly abuse can only irritate. Why not learn to work hard instead...

[FBInCIAnNSATerroristSlayer]

On 11/4/2018 10:25 PM, Arindam Banerjee wrote:
> Your greedy grabby tactics are not working well. Low thinking can take one only so far. Okay whining did get your sort somewhere with foreign loans and grants, so they make more and more statues and profit from the siphoning. My money won't be wasted but the embarrassment will remain. Silly abuse can only irritate. Why not learn to work hard instead...
>

You won't even remotely understand "how difficult it is for me to
tolerate your mere existence".

[FBInCIAnNSATerroristSlayer]

On 11/4/2018 2:51 PM, Arindam Banerjee wrote:
> Indeed. The success of some groups to extort undeserved wealth and power by whining considerably leads to grotesquely grabby behaviour from their wannabes. Emotional blackmail has its limits.
>

You should get plastic surgery like Michael Jackson did to get white skin.

The White Christian British racist thieves did NOT pay a single dollar
reparation yet.

[RH156RH]

If you are a few rupees short I am sure your imam would oblige you with a loan... RH

[Arindam Banerjee]

Quite, so go and try to do some good, do some solid work, that should make you feel better. Being what you are, an useless pot of impotent poison, must suck. Just try. From being a lazy, whiny and envious creep, you will then begin to see the errors of your ways.

[Arindam Banerjee]

On Thursday, 8 November 2018 11:38:50 UTC+11, guypers wrote:

> Who is worse, the racist Anglo or the self-hating ganga din?

Ganga din (actually deen, or Ganga the poor) was acknowledged to be the better man by the racist Anglo in Kipling's poem. Ganga was not self-hating, as parasites must be (if they have anything like a conscience). He was a lowly Govt. functionary doing his duty.