Home News Reports Sunday Guardian claims a diabolical plan hatched by a former UPA minister to overthrow Modi

Sunday Guardian claims a diabolical plan hatched by a former UPA minister to overthrow Modi

Madhav Das Nalapat, editorial director of The Sunday Guardian claimed that the ‘cabal’ loyal to the ‘first family’ in Congress was working on a ‘market meltdown’ in October. His article said that there was a systematic mechanism being worked out to engineer a crash in the market in October to tarnish the Modi government and influence the electoral results for next Lok Sabha polls.

Was the market behaviour around the budget period manipulated?

Mr Nalapat said that the market meltdown in pre-budget session was engineered by a former UPA minister and that the move had the capacity to make BJP voters in towns and cities switch sides if it were to be repeated. The report claims that the alleged market manipulation will be done by revelation of policy decisions from the former minister’s sources in the RBI and various ministries. This is an accusation of planned insider trading which is illegal. The writer cited one such plausible instance in his article.

- Advertisement - - Article resumes -

Amazingly, the former minister is claiming credit for both the negative opening of the Singapore stock exchange on 2 February, as well as the unusual warning by Fitch rating agency that higher welfare spending in the budget just announced would impact India’s upgrade. Fitch’s comment was unexpected and the former minister has claimed to his associates that his “friends” in New York, London, Singapore and Dubai will ensure that Moody’s, Standard & Poor’s, as well as Goldman Sachs will soon issue similar warnings on India.

Alleged planned market manipulations in October can impact elections

He went on to say that if such a market crash were to happen close to the election dates, it could affect votes in urban areas where BJP is strong.

Dr Nalapat accused the unnamed former UPA minister of having hatched a plan to manipulate markets by 1st October this year in his series of tweets. As per Dr Nalapat , those assisting him in this endeavor include professionals in 31 brokerages/ financial agencies and officials in various ministries who hope that the former minister might get the ‘highest job’ if NDA were to be voted out of power in 2019.

Cabal led by former minister has deep pockets and no fear

In the article, Dr Nalapat also cited sources that accused the former minister of making Rs 39,000 crores by market manipulations, while he was in power. The cabal , according the writer is not afraid of consequences of its dubious activities. He said the ‘cabal’ headed by the former minister had planted fake stories in the past as well. He cited the case where false reports of coup by Gen VK Singh were reported in media.

His report also says that the engineered meltdown may cost about Rs 3000 crore and the former minister is ready to invest Rs 500 crores of his own in the operation. Deep pockets will come into play to achieve this goal as per Dr Madhav Nalapat. He concludes his article by saying :

Should the former minister be given an assurance by his party that he will be pitchforked into high office after the polls, the BJP may be in for an electoral ride made impossibly rough by the newly formed “October Meltdown” cabal using its deep pockets to engineer a steep and steady fall in share prices during the period preceding the Lok Sabha elections.

The scale, reach and ability of Lutyens cabal led by former minister seem to be huge. Will Modi take note of this warning and act? We will have to wait and watch.

Share This Post With Your Friends & Fans:
We need your support to survive in the media industry. Please consider paying us for the content we produce:

To know more about these payments, please click here.


Election 2019 Final Tally

Check the final seat tally and other post election coverage

Smriti Irani’s aide in Amethi shot dead, his son says some Congress workers were not happy with BJP’s ‘Vijay Yatra’

Smriti Irani had defeated Rahul Gandhi on his home turf of Amethi in Uttar Pradesh by a margin of 55,120 votes

Meerut: Communal tension after a video showing Muslim men beating up shopkeepers goes viral

A viral video where Muslim men are beating up a shopkeeper has triggered communal tensions in Meerut

Left has failed, but the ‘Right’ does not understand Modi as well

With the left looking irrelevant, the right needs to get its act together.

Rajdeep Sardesai thinks Narendra Modi should thank Masood Azhar, among others, for BJP’s victory

As a long term Congress loyalist media person, Rajdeep Sardesai is yet to come to terms that Modi won a second term with thumping majority

A tribute to OpIndia’s fallen star

On 13th May 2019, Devandhu Rajput succumbed to cancer.

Rahul Gandhi upset that senior Congress leaders didn’t shout ‘Chowkidar Chor Hai’ enough, lashes out on them for party’s defeat

Amusingly, though Rahul Gandhi had indeed offered to resign, the CWC, that is chaired by himself, had unanimously rejected the resignation and asked him to reconstruct the party
NYT peddles Modi 2.0 as victory of India's most divisive leader

Dear New York Times, India has chosen Modi 2.0, deal with it

When India gives a thumping, unprecedented, overwhelming victory to a man who has made every single Indian feel proud of their nation and heritage, the NYT's heartburn is expected. 

Journalist wants to ‘crowdfund’ a parallel parliament so that Atishi Marlena can become an MP

The 'neutral media' meltdown seems to have reached its peak after AAP's Atishi Marlena came in third in East Delhi Lok Sabha seat
Rana Ayyub uses the 2015 murder of Akhlaq to peddle fear and victimhood for Muslims, ignores Hindus killed for their religion

PM Modi, I am a Charvaka Indian liberal, and this is my wish list

An atheist Indian liberal writes to PM Modi on what he wishes for in the next five years
Subscribe to Day's Top Stories

Latest articles

Connect with us

165,201FansLike
143,744FollowersFollow
65,602SubscribersSubscribe
Share This Post With Your Friends & Fans: