|A MAGICAL SOLUTION TO DISASTER RELIEF: At the time of the 'supercyclone' that hit India in Orissa in 1999, I pointed out that the more money the Indian government prints and spends on relief, the more the Indian economy will benefit (see my proposal about money in my article ‘How India‘s Economy Can Grow 30% Per Year Or More‘ in my blog titled 'Nuclear Supremacy For India Over U.S.' which can be found by a Google search with the blog title), because the amount so spent will increase the Gross Domestic Product by several times that amount. So long as the money so spent is used for productive purposes-- on both goods and services-- and is not taken from money earmarked for other purposes but is additional money printed by the government, the more money the government prints and spends, the better for India. Instead of a thousand crores, the government should spend a hundred thousand crores and even more, on short term as well as long term measures. I wrote the government should invite any and all individuals and organisations to 'find a need and fill it and be reimbursed at double your cost'. I wrote this is a formula to take care of such situations 'swiftly, painlessly and almost magically'. In non-emergency situations, a profit of 50% may be enough incentive; see my blog.
I said at the time of the tsunami disaster in 2004 India lacks neither money nor manpower-- civil or military-- to deal with this or any other problem and should reject the military "coalition" which the United States had seized the opportunity to draw India into. The death and destruction the United States has inflicted on Iraq is greater than any country has suffered from the tsunami. All countries should refuse any assistance from the United States or cooperation with it in tsunami relief or any other enterprise. In a letter dated January 5, 2004 (see my blog), I pointed out that Indian Railways need not collect any fares from passengers (or freight charges) at all since the government can print all the money it needs to pay for the service, at a negligible cost (the cost of printing the money) and, in the process, greatly benefit the economy. In fact, as I have said (letter published in three parts in The Observer of Business and Politics, New Delhi, on March 11, 12 & 13, 1997), the government need not take in any money at all-- in the form of taxes, charges or borrowings-- when it can print all the money it wants. The more money the government prints and spends for goods and services, the more the economy will benefit (printing paper currency can be replaced with, say, electronic insertion of funds into accounts for certain purposes). This applies to all goods and services and all governments. On the issue of the monetization of government benefits in Russia in 2004, I said that providing benefits in kind has the advantage of ensuring that the money is used for productive purposes, that there is a corresponding increase in the production of goods and services along with the money supply, avoiding inflation; see my blog for a fuller treatment.