Out of bad, they say, sometimes, the best emerges. The current Iran idiocy can be an example thereof. Why do i say so? Let me see if I can explain.
It is an open secret, frankly shared unofficially and informally in those twin cities that Hyderabad is one of the hawala centers, and hence has huge monetary dealings, most of which, such unofficial sources say, are most questionable in nature.
Hawala is a monetary transaction that respects the word of mouth. In the initial phase, may be, hawala could have been most honourable, high-minded and honest dealings.
The nerve center of the hawala trade apparently is the Middle East countries, it is maintained in Hyderabad. Equally vociferously, it is argued that hawala money is all "haram" money.
Remember, for instance, the Telgi scam? Even when an official document, the stamp paper, was involved, there was an 'efficient' network, apparently invisible, which distributed counterfeit stamp papers, and siphoned off crores. Imagine, given such realities, the possible money laundering, the tax evasion, the black money, and the criminals involved in the hawala connections!
Now with the entire Middle East being off the bounds in a major way, the hawala haul has to be halted. The crooks involved must suffer, if they have not found out some alternative solution, which, given their criminal proclivities, they might have.
Yet they must face financial loss as well as losing clout and power. Every which way, this is great news for India, right? Hence the initial assertion; namely, bad may at times lead to the best!
Pratima@Such crooks siphoning off huge sums shamelessly lead a luxurious life which, too, must get curtailed to some extent, even if they would have stashed away illegal money for generations apparently. The bad and the ugly need not forever be in good conditions!
Quote of the day: "You never know what worse luck your bad luck has saved you from," concedes Cormac McCarthy.
Word of the day: hawala. Hawala is an informal method of transferring money, relying on a trust-based network of brokers. It operates outside traditional banking, and is commonly used for rapid, low-cost remittances in South Asia and the Middle East, though it is often illegal due to lack of regulations.