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Psy-Lens…

October 15, 2017

Did you ever no

Psy-lens?

Did you no

that or this about

words like

LISTEN SILENT

Lee

Bruce, My Muse

Empty hand, Empty Mind

Empty, Like him

I practise, Kara Te

Wind Whistles

Betwixt my ears

Years of Yearning

See Suns Turning

Moving, moving

So  I MAY be Still

in June

July and AU Gust

And for me, as for every Kreechur Must

It’s Ashes to Ashes

and

Dust to dust…..

whtfld82

Hisssssssssstory…Venomous lies abound…

September 20, 2017

Greetings,

Hope everyone is holding it together in these most interesting times. Hurry Canes, Floods, Fires, Quaking Earth and then there is all the man made stuff. Roiling times. And no surprise that there is Lots of OIL in rOIL eh?

But I digress. While the earth mother does her thing, whether assisted by angels playing HAARP or not, the socio-political theater is center-stage in most all nations in the world.

Black Vs. White, Muslim Vs. Christian, Hinduism vs. Islam, India Vs. China, Israhell Vs. the World….. all of it….

And of course, most people’s extant mind-set is based upon their particular education, which is merely indoctrination given a more palatable name.

And the history taught in said indoctrination centers is the biggest bag of venomous lies fed, written by the victor to damn the vanquished.

So today, I wanted to share a piece by the Saker, who, in case you do not know him, is one of the most interesting and informed (though not always right, but that is merely perspective and indoctrination biased, so who knows, eh?) voices in the alt.news and analysis space….

Here is a telling excerpt and the link is at the end of the piece…

 

In-joy!

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Most Americans trust the version of history presented to them by their own “mainstream”. Why? How is their situation objectively different from the situation of Germans in a victorious Third Reich? Our modern narrative of WWII was also written by victors, victors who had a vested reason in demonizing all the other sides (Nazis and Soviets) while presenting us with a heroic tale of liberation. And here is the question which ought to really haunt us at night: what if we had been born not Russians and Jews after a Nazi defeat but if we had been born Germans after an Allied defeat in WWII? Would we have been able to show enough skepticism and courage to doubt the myths we were raised with? Or would we also be doubleplusgoodthinkinglittle Nazis, all happy and proud to have defeated the evil Judeo-Bolshevik hordes and the Anglo-Masonic capitalists?

Oh sure, Hitler considered Jews as parasites which had to be exiled and, later, exterminated and he saw Russians as subhumans which needed to be put to work for the Germanic Master Race and whose intelligentsia also needed to be exterminated. No wonder that we, Jews and Russians, don’t particularly care for that kind of genocidal racist views. But surely we can be humans before being Jews and Russians, and we can accept that what is bad for us is not necessarily bad for others. Sure, Hitler was bad news for Jews and Russians, but was he really so bad news for “pure” (Aryan Germanic) Germans? More importantly, if we had been born “pure” Germans, would we have have cared a whole lot about Jews and Russians? I sure hope so, but I have my doubts. I don’t recall any of us shedding many tears about the poly-genocided (a word I coined for a unique phenomenon in history: the genocide of all the ethnicities of an entire continent!) Native Americans! I dare say that we are a lot more prone to whining about the “Holocaust” or “Stalinism”, even though neither of them ever affected us personally, (only our families and ethnicity) than about the poly-genocide of Native Americans. I very much doubt that our whining priorities would have been the same if our ethnicity had been Lakota or Comanche. Again, I hope that I am wrong. But I am not so sure.

Either way, my point is this:

We are hard-coded to be credulous and uncritically accept all the demonization of Nazis and Soviets because we are Jews and White Russians. Careful here, I am NOT saying that the Nazis and Soviets were not evil – they definitely were – but what I am saying is that we, Jews and Russians, are far more willing to accept and endorse any version of history which makes the Nazis and Soviets some kind of exceptionally evil people and that, in contrast, we almost instinctively reject any notion that “our” side (in this case I mean *your* side, the American one since you, unlike me, consider yourselves American) was just as bad (if only because your side never murdered Jews and Russians). So let’s look at this “our/your side” for a few minutes.

By the time the USA entered WWII it had already committed the worse crime in human history, the poly-genocide of an entire continent, followed by the completely illegal and brutal annexation of the lands stolen from the Native Americans. Truly, Hitler would have been proud. But that is hardly all, the Anglo invaders then proceeded to wage another illegal and brutal war of annexation against Mexico from which they stole a huge chunk of land which includes modern Texas, California, Nevada, Utah, Arizona and New Mexico! Yes, all this land was illegally occupied and stolen by your side not once, but TWICE! And do I even need to mention the horrors of slavery to add to the “moral tally” of your side by the time the US entered the war? Right there I think that there is more than enough evidence that your side was morally worse than either the Nazis or the Soviets. The entire history of the USA is one of endless violence, plunder, hypocrisy, exploitation, imperialism, oppression and wars. Endless wars of aggression. None of them defensive by any stretch of the imagination. That is quite unique in human history. Can you think of a nastier, more bloodthirsty regime? I can’t.

Should I even mention the British “atrocities tally”, ranging from opium wars, to the invention of concentration camps, to the creation of Apartheid, the horrors of the occupation of Ireland, etc. etc. etc.?

I can just hear you say that yes, this was horrible, but that does not change the fact that in WWII the USA “saved Europe”. But is that really so?

To substantiate my position, I have put together a separate PDF file which lists 5 sources, 3 in English, 2 in Russian. You can download it here:

https://drive.google.com/open?id=0ByibNV3SiUooWExTNGhMTGF5azQ

I have translated the key excerpts of the Russian sources and I am presenting them along with the key excerpts of the English sources. Please take a look at this PDF and, if you can, please read the full original articles I quote. I have stressed in bold red the key conclusions of these sources. You will notice that there are some variations in the figures, but the conclusions are, I think, undeniable. The historical record show that:

  1. The Soviet Union can be credited with the destruction of roughly 80% of the Nazi military machine. The US-UK correspondingly can be credited with no more than 20% of the Allied war effort.
  2. The scale and scope of the battles on the Eastern Front completely dwarf the biggest battles on the Western Front. Battles in the West involved Divisions and Brigades, in the East they involved Armies and Groups of Armies. That is at least one order of magnitude of difference.
  3. The USA only entered the war a year after Stalingrad and the Kursk battle when it was absolutely clear that the Nazis would lose the war.

The truth is that the Americans only entered the war when it was clear that the Nazis would be defeated and that their real motive was not the “liberation of oppressed Europe” but to prevent the Soviets from occupying all of Europe. The Americans never gave a damn about the mass murder of Jews or Russians, all they cared about was a massive land-grab (yet again).

[Sidebar: By the way, and lest you think that I claim that only Americans act this way, here is another set of interesting dates:

Nuclear bombing of Hiroshima and Nagasaki: August 6 and 9, 1945

Soviet Manchurian Strategic Offensive Operation: August 9–20, 1945

We can clearly see the same pattern here: the Soviets waited until it was absolutely certain that the USA had defeated the Japanese empire before striking it themselves. It is also worth noting that it took the Soviets only 10 days to defeat the entire Kwantung Army, the most prestigious Army of the Japanese Empire with over one million well-trained and well-equipped soldiers! That should tell you a little something about the kind of military machine the Soviet Union had developed in the course of the war against Nazi Germany (see herefor a superb US study of this military operation)]

Did the Americans bring peace and prosperity to western Europe?

To western Europe, to some degree yes, and that is because was easy for them: they ended the war almost “fresh”, their (stolen) homeland did not suffer the horrors of war and so, yes, they could bring in peanut butter, cigarettes and other material goods. They also made sure that Western Europe would become an immense market for US goods and services and that European resources would be made available to the US Empire, especially against the Soviet Union. And how did they finance this “generosity”? By robbing the so-called Third World blind, that’s all. Is that something to be proud of? Did Lenin not warn as early as 1917 that “imperialism is the highest stage of capitalism”? The wealth of Western Europe was built by the abject poverty of the millions of Africans, Asians and Latin Americas.

But what about the future of Europe and the European people?

There a number of things upon which the Anglos and Stalin did agree to at the end of WWII: The four Ds: denazification, disarmament, demilitarisation, and democratisation of a united Germany and reparations to rebuild the USSR. Yes, Stalin wanted a united, neutral Germany. As soon as the war ended, however, the Anglos reneged on all of these promises: they created a heavily militarized West Germany, they immediately recruited thousands of top Nazi officials for their intelligence services, their rocket program and to subvert the Soviet Union. Worse, they immediately developed plans to attack the Soviet Union. Right at the end of the WWII, Anglo powers had at least THREE plans to wage war on the USSR: Operation DropshotPlan Totality and Operation Unthinkable. Here are some basic reminders from Wikipedia about what these operations were about:

Operation Dropshot: included mission profiles that would have used 300 nuclear bombs and 29,000 high-explosive bombs on 200 targets in 100 cities and towns to wipe out 85% of the Soviet Union’s industrial potential at a single stroke. Between 75 and 100 of the 300 nuclear weapons were targeted to destroy Soviet combat aircraft on the ground.

Plan Totality: earmarked 20 Soviet cities for obliteration in a first strike: Moscow, Gorki, Kuybyshev, Sverdlovsk, Novosibirsk, Omsk, Saratov, Kazan, Leningrad, Baku, Tashkent, Chelyabinsk, Nizhny Tagil, Magnitogorsk, Molotov, Tbilisi, Stalinsk, Grozny, Irkutsk, and Yaroslavl.

Operation Unthinkable: assumed a surprise attack by up to 47 British and American divisions in the area of Dresden, in the middle of Soviet lines. This represented almost a half of roughly 100 divisions (ca. 2.5 million men) available to the British, American and Canadian headquarters at that time. (…) The majority of any offensive operation would have been undertaken by American and British forces, as well as Polish forces and up to 100,000 German Wehrmacht soldiers.

[Were you aware of these? If not, do you now wonder why?]

I am not making these things up, you can look it up for yourself on Wikipedia and elsewhere. This is the Anglo idea of how you deal with Russian “allies”: you stab them in the back with a surprise nuclear attack, you obliterate most of their cities and you launch the Nazi Wehrmacht against them.

I won’t even go into the creation of NATO (before the WTO – known in the West as the “Warsaw Pact” – was created in response) or such petty crimes as false flag terrorist attack (Operation Gladio).

[Have you ever heard of Operation Gladio or the August 1980 “Bologna massacre”, the bombing of the Bologna train station by NATO secret terrorist forces, a false-flag terrorist attack (85 dead, over 200 wounded) designed to discredit the Communist Party of Italy? If not – do you now wonder why you never heard of this?]

The sad reality is that the US intervention in Europe was a simple land-grab, that the Cold War was an Anglo creation, as was the partition of Europe, and that since WWII the USA always treated Europe as a colony form which to fight the “Communist” threat (i.e. Russia).

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And there you have it….

here is the rest…

http://thesaker.is/letter-to-my-american-friends/

Peace? Piece?

😉

 

War? America? North Korea? Yup, it’s what’s for dinner…

July 30, 2017

Read this in a comment section in Zerohedge.

Read it, and believe that there are/were people who will justify this and via propaganda, make it okay for the masses to swallow….

My heart is aching….

“Washington has never made any effort to conceal its contempt for North Korea. In the 64 years since the war ended, the US has done everything in its power to punish, humiliate and inflict pain on the Communist country. Washington has subjected the DPRK to starvation,  prevented its government from accessing foreign capital and markets, strangled its economy with crippling economic sanctions, and installed lethal missile systems and military bases on their doorstep.

Negotiations aren’t possible because Washington refuses to sit down with a country which it sees as its inferior.  Instead, the US has strong-armed China to do its bidding by using their diplomats as interlocutors who are expected to convey Washington’s ultimatums as threateningly as possible.  The hope, of course, is that Pyongyang will cave in to Uncle Sam’s bullying and do what they are told.

But the North has never succumbed to US intimidation and there’s no sign that it will. Instead, they have developed a small arsenal of nuclear weapons to defend themselves in the event that the US tries to assert its dominance by launching another war.
There’s no country in the world that needs nuclear weapons more than North Korea. Brainwashed Americans, who get their news from FOX or CNN, may differ on this point, but if a hostile nation deployed carrier strike-groups off the coast of California while conducting massive war games on the Mexican border (with the express intention of scaring the shit of people) then they might see things differently. They might see the value of having a few nuclear weapons to deter that hostile nation from doing something really stupid.

And let’s be honest, the only reason Kim Jong Un hasn’t joined Saddam and Gadhafi in the great hereafter, is because (a)– The North does not sit on an ocean of oil, and (b)– The North has the capacity to reduce Seoul, Okinawa and Tokyo into smoldering debris-fields.  Absent Kim’s WMDs,  Pyongyang would have faced a preemptive attack long ago and Kim would have faced a fate similar to Gadhafi’s.  Nuclear weapons are the only known antidote to US adventurism.

The American people –whose grasp of history does not extend beyond the events of 9-11 — have no idea of the way the US fights its wars or the horrific carnage and destruction it unleashed on the North.  Here’s a short  refresher that helps clarify why the North is still wary of the US more than 60 years after the armistice was signed.  The excerpt is from an article titled “Americans have forgotten what we did to North Korea”, at Vox World:

“In the early 1950s, during the Korean War, the US dropped more bombs on North Korea than it had dropped in the entire Pacific theater during World War II. This carpet bombing, which included 32,000 tons of napalm, often deliberately targeted civilian as well as military targets, devastating the country far beyond what was necessary to fight the war. Whole cities were destroyed, with many thousands of innocent civilians killed and many more left homeless and hungry….

According to US journalist Blaine Harden:  “Over a period of three years or so, we killed off — what — 20 percent of the population,” Air Force Gen. Curtis LeMay, head of the Strategic Air Command during the Korean War, told the Office of Air Force History in 1984. Dean Rusk, a supporter of the war and later secretary of state, said the United States bombed “everything that moved in North Korea, every brick standing on top of another.” After running low on urban targets, U.S. bombers destroyed hydroelectric and irrigation dams in the later stages of the war, flooding farmland and destroying crops……

“On January 3 at 10:30 AM an armada of 82 flying fortresses loosed their death-dealing load on the city of Pyongyang …Hundreds of tons of bombs and incendiary compound were simultaneously dropped throughout the city, causing annihilating fires, the transatlantic barbarians bombed the city with delayed-action high-explosive bombs which exploded at intervals for a whole day making it impossible for the people to come out onto the streets. The entire city has now been burning, enveloped in flames, for two days. By the second day, 7,812 civilians houses had been burnt down. The Americans were well aware that there were no military targets left in Pyongyang…

The number of inhabitants of Pyongyang killed by bomb splinters, burnt alive and suffocated by smoke is incalculable…Some 50,000 inhabitants remain in the city which before the war had a population of 500,000.” (“Americans have forgotten what we did to North Korea“,  Vox World)

The United States killed over 2 million people in a country that posed no threat to US national security. Like Vietnam, the Korean War was just another  muscle-flexing exercise the US periodically engages in whenever it gets bored or needs some far-flung location to try out its new weapons systems. The US had nothing to gain in its aggression on the Korean peninsula, it was mix of imperial overreach and pure unalloyed viciousness the likes of which we’ve seen many times in the past. According to the Asia-Pacific Journal:

“By the fall of 1952, there were no effective targets left for US planes to hit. Every significant town, city and industrial area in North Korea had already been bombed. In the spring of 1953, the Air Force targeted irrigation dams on the Yalu River, both to destroy the North Korean rice crop and to pressure the Chinese, who would have to supply more food aid to the North. Five reservoirs were hit, flooding thousands of acres of farmland, inundating whole towns and laying waste to the essential food source for millions of North Koreans.10 Only emergency assistance from China, the USSR, and other socialist countries prevented widespread famine.” (“The Destruction and Reconstruction of North Korea, 1950 – 1960”, The Asia-Pacific Journal, Japan Focus)

Repeat: “Reservoirs, irrigation dams, rice crops,  hydroelectric dams, population centers” all napalmed, all carpet bombed,  all razed to the ground. Nothing was spared. If it moved it was shot, if it didn’t move, it was bombed. The US couldn’t win, so they turned the country into an uninhabitable wastelands.   “Let them starve. Let them freeze.. Let them eat weeds and roots and rodents to survive. Let them sleep in the ditches and find shelter in the rubble. What do we care? We’re the greatest country on earth. God bless America.”

This is how Washington does business, and it hasn’t changed since the Seventh Cavalry wiped out 150 men, women and children at Wounded Knee more than century ago. The Lakota Sioux at Pine Ridge got the same basic treatment as the North Koreans, or the Vietnamese, or the Nicaraguans, or the Iraqis and on and on and on and on. Anyone else who gets in Uncle Sam’s way, winds up in a world of hurt. End of story.

The savagery of America’s war against the North left an indelible mark on the psyche of the people.  Whatever the cost, the North cannot allow a similar scenario to take place in the future. Whatever the cost, they must be prepared to defend themselves. If that means nukes, then so be it. Self preservation is the top priority.

Is there a way to end this pointless standoff between Pyongyang and Washington, a way to mend fences and build trust?

Of course there is. The US just needs to start treating the DPRK with respect and follow through on their promises.

Most people think the problem lies with North Korea, but it doesn’t. The problem lies with the United States; it’s unwillingness to negotiate an end to the war, its unwillingness to provide basic security guarantees to the North, its unwillingness to even sit down with the people who –through Washington’s own stubborn ignorance– are now developing long-range ballistic missiles that will be capable of hitting American cities.

How dumb is that?

The Trump team is sticking with a policy that has failed for 63 years and which clearly undermines US national security by putting American citizens directly at risk. AND FOR WHAT?

To preserve the image of “tough guy”,  to convince people that the US doesn’t negotiate with weaker countries,  to prove to the world that “whatever the US says, goes”?   Is that it?  Is image more important than a potential nuclear disaster?

Relations with the North can be normalized,  economic ties can be strengthened, trust can be restored, and the nuclear threat can be defused. The situation with the North does not have to be a crisis, it can be fixed. It just takes a change in policy, a bit of give-and-take, and leaders that genuinely want peace more than war.”

http://www.informationclearinghouse.info/46884.htm

 

To the World’s Concerned Citizens and Snowflake SJW’s:

June 24, 2017

Greetings,

While I watched and learned with puzzlement during my 12 years in the United States as to what it takes to tear a society down, to turn it inside out, it is when I learned of the Frankfurt School of nihilistic social programming a few years ago that the plan, because there is one, became crystal clear.

I understood why western culture, a misnomer if there ever was one, needed to be exported everywhere. I understood why India is falling apart at the seams. I understood why the east, with it’s own unique cultural milieu, was so easily shaken and taken by the advent of TV and modern movies.

I look around me and understand now, very well, why a whole generation, India’s generation Z or whatever, are some of the most thin skinned, mis-guided, confused and vicious Social Justice Warriors.

They have been had by one of the most powerful and insidious movements to have ever been dreamt up by a group of people whose singular aim it was to destroy all that was good about the world and replace it with a wasteland of rootless, rudderless humans who could then be re-rooted and guided at will by a system they had grown to trust.

Let me tell you this, because I KNOW it…. the war has been lost as far as the masses of all nations are concerned.

The majority populations of most nations have been bludgeoned into submission by a corrupt and beholden media and polity, so that the draconian things that are being done to them will be taken without a whimper.

This is why the world, as we knew it and once loved it, is falling apart, at least with-in lives that are lived in the matrix of modern society.

The fork on the road is well and truly upon us.

Get in-formed so that authentic change might begin. It is to each of us, on our own now.

Distill the message of the video I’m sharing below, understand it’s impact, widen your world-view in both geography and history, because everything has a root and/or a root cause. And share it with everyone you know. This is life and death serious, if you can see it….

Ladies and gentlemen, the poison in the world system, a singular disease vector, which will only die if IGNORED.

The Frankfurt School….

In Joy….

 

India’s Cancer… proselytizing Christianity….

May 21, 2017

Greetings,

While the great, divided Indian population is yanked, by the nose, via sold-out media, to believe that Islam is India’s problem, facts reveal quite otherwise.

Ever since the greedy white man set his sights on India centuries ago, the idea has been to convert this pagan, Indic, largely hindu nation to Christ, to save our rotten souls it seems.

And so it has been a long and cruel history, by sword, rape, cutting of tongues, destruction of religious and spiritual places, the compromising of ancient texts, the creation of backdated, fake heroes, narratives, books….. the imposition of the caste system (yes, in it’s current metastasized form, cast-ism is a gift of the BrUtish, when they placed the land-ownership system called Zamin-daari in place, giving this privilege to the most corrupt, cruel and psycopathic of their followers…who in turn rained forcible tax extraction, rape, stealing etc. on the poorest of the poor, a most decidedly feudal system, a weak copy of britain’s own heartless feudal control structres….. and it was these feudal masters who shoved the brUtish form of caste-ism on India and wrote it into ancient texts as if it was the law)….. one could go on…. and on and on and on….

But I digressed there for a bit…. you get the picture, the vasco da gamas and the jesuit priests who came as early as the 15th century were all vassals of th echurch, determined to convert (harvest), these heathen souls for Christ.

Perhaps this quote from an article I will quote should stagger you beyond belief, as it did me….

“For example, as Suhag Shukla has shown, using the data collected by India’s Foreign Contribution Regulation Act, “in 2007, the top two non-governmental donors to India were U.S.-based missionary organizations, World Vision International at ~$155 million and Gospel for Asia ~$99.5 million — together that’s $255 million into India in just one year. Overall, an astonishing 18,996 organizations in India, a disproportionate number linked to Christian missionaries, received donations totaling $2.4 billion in 2007 alone. And the inflow has been growing rapidly. 2007 showed contributions more than double of 2002’’ [31]. Thus, under mercantile influence, and under direct pressure from Christian Lobbies in the West, who wield substantial influence on the Indian and international media discourse, all Indian governments connive with the Church in their conversion attempts. The amount of funding brought by evangelist organisations into India and the means employed to obtain conversions have been documented extensively on [32]. ”

How about that eh? 2.7 Billion Dollars….

India needs to wake up, Indian’s need to wake up, or we will be distracted by the current usurper in chief into battling our own bretheren for the sake of a foreign, meaningless (to us anyways) god, who is going to save no one….

The article in question and I encourage any one to read it, fully, to understand one of the deepest under-currents of what is driving the world into the madness it is descending into today.

There are other, deep, vile players in this game, n=but how about this article for now, eh?

http://indiafacts.org/tribal-regions-central-india-rapidly-christianized/

Fierce…. no more?

tribeslide11

Memeologist 3 … Perpetual war for Perpetual Peace…

May 20, 2017

Greetings,

How can this end well for a country that has killed millions upon millions, tortured countless others, raped, stolen…. you live by the bumb, you die by the bumb, such is how it is.

And for any fool who argues that this is how it has always been, well, all I can say is that you’ve been sold a bill of bads and a fake history.

Image may contain: 9 people, people smiling, meme and text

The Great Indian Suck-Cess Fire-Sale….

May 17, 2017

Greetings,

People like me, who consider themselves brutal truth speakers (for the most part, we are all coloured by our perceptions), have long been pooh-poohed by all and sundry in India as party-pooping nay-sayers when we said things like this:

@India’s so called Suck-Cess stories, from the largest conglomerates to the booming and now busting IT sector we simply driven by cheap loans given to them by vested interests from outside India, aka the Bankster mafia.

Whether it was the crazy spread of the mobile phone/smart phone, consumer goods, consumer electronics, cheap holidays, home loans for all and sundry…. all of it was driven by banksters looking to get India into a debt trap it could never escape.

I have blog posts from 3/4/5 years ago where I have pointed out and bemoaned this.

Now, the chicken, headless of course, is coming home to roost and not-so-Shy Lock wants his pound of flesh… meaning, India’s servitude and colonization, 70 years ago by the gun, sword and cannon, is now by debt. Crushing debt burdens, as obvious from the now crumbling western suck-cess story in general and the great American debt-splurge induced now static and fast declining economy in particular, is a big tell.

Usury is a disease, and it’s heartless practitioners are a diseased set of humans. Until we do something about this usurious cancer on the world body, nothing will change. Money is the god, the thing that makes it all go round. Or so they, of vested interests and their serf/implementors currently in “power” will have us believe.

Usury is a parasite that always kills it’s host, history is replete with examples….

Well, what articles such as the one linked below tell us, the usurious  bankster squeeze on India has well and truly begun, at the behest of the banker mafia led by it’s chief mafioso’s in Basel via the Bank of International Settlements via it’s Indian Poodle, the Reserve Bank of India……

Is there a way out? Good question and one that each of us needs to ask of ourselves, deeply…..

But you can take this to the bank, India’s new chapter of serfdom tot he west via debt bondage is now coming out into the open…. the gloves are off and so is the velvet…. it’s all brass knuckled recovery from here on out….

The biggest ever fire sale of Indian corporate assets has begun, to tide over bad loans crisis

The Anil Ambani-led Reliance Group alone owes Rs 1,21,000 crore of loans to the banks. File Photo

‘For sale’ tags on airports, roads, ports, steel plants, cement units, refineries, corporate park, among others, are visible.

We are seeing what is effectively India Inc.’s biggest ever fire sale. It’s even bigger than the government’s planned divestment target.

The Reserve Bank of India’s (RBI) has decided to clean up the balance sheets of Indian banks, which are collectively saddled with Rs five lakh crore of bad loans, by the end of this fiscal. So, the banks have started cracking the whip on Indian companies for repayment of loans. For most affected firms and groups, this will mean they will be forced to sell prized assets to repay their ballooning debts.

We are seeing ‘for sale’ tags on airports, roads, ports, steel plants, cement units, refineries, malls, corporate parks, land banks, coal mines, oil blocks, express highways, airwaves, Formula One teams, hotels, private jets, and even status symbol corporate HQs. Substantial stakes in firms, and in some cases entire companies, are on the block.

The Hindu reviewed leading corporate houses with billion-dollar loans riding on them, and the results are startling. The top 10 business house debtors alone owe Rs 5,00,000 crore to the banks. They will be forced to sell assets worth over Rs 2,00,000 crore.

Reliance Group (Anil Ambani)

The Anil Ambani-led Reliance Group alone owes Rs 1,21,000 crore of loans to the banks and had an annual interest liability of Rs 8,299 crore against earnings before income tax of Rs 9,848 crore. Some of the group’s firms, like Reliance Infrastructure and Reliance Defence, don’t earn enough to service the interest outgo.

Assets put on sale by the Reliance Group include about 44,000 telecommunications towers (valued at Rs 22,000 crore) and optic fibre and related infrastructure (Rs 8,000 crore) from Reliance Communications (RCom), its flagship firm. Weighed down by about Rs 40,000 crore of debt, RCom has posted a loss of Rs 154 crore in FY14-15, and has continued to post losses in the first three quarters of FY 15-16, accumulating losses of over Rs 2000 crore until December 31, 2015; it is likely to end that fiscal with a net loss too. The company is valued at Rs 13,440 crore, less than a third of its total debts. However, RCom plans to reduce its debts to Rs 10,000 by selling Rs 30,000 crore of telecom assets.

https://docs.google.com/spreadsheets/d/1vQnEHfz46-8sfIWKQUXB7vNi8ai9IPOKdEZ9hQNlAJk/pubchart?oid=2103752767&format=interactive

Reliance Infrastructure (R-Infra) is sitting on a pile of debt of Rs 25,000 crore as of February. In November 2015, it agreed to sell a 49 per cent stake in its electricity generation, transmission and distribution business in Mumbai and adjoining areas to Canadian pension fund Public Sector Pension Investment Board (PSP Investments). The transaction is expected to reduce debt of Rs.7,000 crore attached to the distribution business. It agreed to sell its cement business to Birla Corporation for Rs 4,800 crore in February, and is looking to sell its entire roads portfolio, valued at Rs 9,000 crore, for which three international bidders have been short-listed. R-Infra’s EBIT stands at Rs 1,686 crore, against interest liability of Rs 1,974 crore. Its market capitalisation at Rs 14,476 crore is Rs 10,000 crore lower than its debt. By sale, of cement, road and the Mumbai power distribution businesses, the company expects to be debt free on standalone basis by the end of this fiscal.

Reliance Capital, with debt of Rs 24,000 crore has sold stakes, in phases, in its mutual fund and life insurance businesses to Nippon Life Insurance for Rs 3,461 crore to allow the latter to increase its stake to 49 per cent in each of the businesses. It further plans to raise another Rs 4,000 crore by the end of 2016-17 by selling non-core assets, including proprietary investment book and by inducting a partner in its general insurance business. Reliance Capital’s debt includes its lending portfolio – commercial lending and housing finance- of about Rs 18,000 crore and claims to have a debt-equity ratio of 1.77, the lowest in the industry, as of December 31, 2015.

Mr Ambani is also looking to exit the media and entertainment businesses, under Reliance Broadcast Network Ltd (RBNL), for Rs 1,500 –Rs 2,000 crore.

His foray into defence — the recently-acquired Pipavav Defence & Offshore Engineering, rechristened Reliance Defence — is sitting on debt of Rs 6,800 crore against its current market capitalisation of Rs 4,895 crore. The loss-making company with negative EBIT of Rs 306 crore has an interest liability of Rs 347 crore a year.

Ruia’s Essar group (Shashi and Ravi Ruia)

Shashi and Ravi Ruia’s Essar group has gross debt of Rs 1,01,461 crore. The group is looking to sell about 50 per cent stake of its family silver, i.e., Essar Oil’s 20mtpa (million tonnes per annum) Vadinar refinery, for Rs 25,000 crore. It also plans to bring in a financial partner for its 10mtpa steel business that currently has a debt of Rs 40,000 crore; a 49 per cent stake in the steel facility will be valued at about Rs 25,000 crore. The debt-laden group is also looking to sell stake in its ports business. Essar Steel and Essar Oil each account for one-third of the group debt, and Essar Power, one-fifth.

Read on: Article is slightly dated, but this process is only going to accelerate….

http://www.thehindu.com/business/Industry/the-biggestever-fire-sale-of-indian-corporate-assets-has-begun-to-tide-over-bad-loans-crisis/article8573163.ece