CHAPTER I

 

The secret route of Western countries’ money and assets towards the Indian Stock Exchanges and Indian Central Bank

 

  1. The Clearing Banks and the Stock Exchanges have different dimensions and different financial force and play a bigger and more important role, depending on the dimension of the geographical area where the assets come from

The bigger the area, the more important the Clearing Banks and Stock Exchanges are. 

Stock Exchanges and Clearing divisions attached to these Stock Exchanges: 

 

a – locals – that cover a particular area from a country

b – the ones that can cover a whole country 

c – regional, that trade securities, equities from more countries 

d – continental clearing banks and stock exchanges that have access to all the assets from one continent 

e – intercontinental and global clearing houses trading treasuries, equities and O.T.C. products all across the globe. 

 

As a scheme, stock exchanges and clearing banks that are attached to these stock exchanges can be drawn as follows: 

 

Global and Intercontinental stock exchanges and Clearing House 

 

Continental Stock Exchanges and Clearing House 

 

Zonal Stock Exchange and Clearing Bank 

 

National Stock Exchange and National Clearing Bank 

 

Local Stock Exchange and local custodian bank 

 

These Stock Exchanges and Clearing Houses and founded, financed and coordinated in secret by Iran and its ally, India. 

 

If Iran had purchased all the stock exchanges in the world, this would have been considered a monopoly and would have been unmasked very easily. So, they would not manage to keep it secret, but Tehran manages to control these stock markets without owning them 100%. This way, they succeeded to remain invisible during the centuries, hiding behind the other shareholders and co-owners. The main idea in the management of these Stock Exchange and Clearing Banks is that they are interconnected between each other, two by two. 

So, they create a chain network of Stock Exchanges institutions extended all over the planet, in order to become a global Clearing Bank network. 

The stock exchanges and the clearing houses are founded as companies with share capital (joint stock companies). 

The Interconnection is realized through their shareholders. The shareholders of a Stock Exchange or a Clearing Bank attached to the stock exchange are named members. The title of member comes from the fact that clearing bank’s shareholders are members of the managing board of the asset manager company (this is a different name for a clearing bank) – an asset manager can also be a hedge fund. 

The interconnection between two stock exchanges is done by merger of the two stock exchanges. This means they put together all the assets. After the merge, the number of shares is recalculated according to cumulating shares and redistributed to the shareholders of the two stack exchanges. 

The management of the two stock exchanges does not change. They keep on working almost independently one of each other. An almost similar effect can be obtained when the two stock exchanges create a joint venture. 

According to this merger, the member shareholders of the second stock exchange become member shareholders also in the first stock exchange (number 1 in the scheme). 

If a third stock exchange merges with the second stock exchange (number 2 in the scheme), this will have member shareholders in the second stock exchange.     

But the stock exchange no. 2, as you can see in the scheme, is majority shareholder to the first stock exchange (number 1). Consequently, the member shareholders from stock exchange no. 3 are majority shareholders to the stock exchange no. 2 and to the stock exchange no. 1. 

If a fourth stock exchange (no. 4) merges (controlling the majority of the shares) with stock exchange no. 3, it becomes majority shareholder to the stock exchange no. 3, having the role of member at stock exchange no. 4, at stock exchange no. 3 and, consequently, to stock exchange no. 2 and stock exchange no. 1.

The same result is obtained if the stock market nr 5 mergers with stock market nr 4. The stock market nr 5 will have members in all five stock exchanges.

The role of the big stock market no. 5 is played by several very big investment banks (each of them are organized as financial holdings). 

These financial holdings are: 

  1. Goldman Sachs 
  2. Citigroup
  3. Bank of America 
  4. J.P. Morgan 
  5. Morgan Stanley 
  6. Bear Stearns 
  7. Wells Fargo 
  8. Merrill Lynch 
  9. Deutsche Bank (sometimes UBS and Credit Suisse) 

 

Each of these 9 financial holdings are made from: commercial bank, investment bank, broker dealer, Market Maker Broker Dealer, Money Market Mutual Funds, Asset manager (clearing houses  (OTC) ; Clearing banks), Hedge funds (shadow banks), traders (shadow bank) and automat clearing houses (shadow banks), insurance (re-insurance) companies. The regulated banks (commercial banks) of these holdings have access to the Federal Reserve Funds and they transfer them in secret to unregulated shadow banks from the same financial holdings. All these 9 investment banks are secret shareholders (members) of the 12 Federal Reserve Banks. 

The Federal Reserve Banks are private institutions. They are a special type of companies with share capital. The share capital is subscribed by the 9 banks mentioned earlier, that are also called members bank. 

Goldman Sachs completely controls the other 8 banks mentioned earlier. Golman Sachs is secretly controlled from Tehran. 

Citigroup is technically managed from New Delhi (the technical details of O.T.C. products) and from a hierarchic standpoint is lead  from Tehran (India subordinates to Iran). 

The same 9 banks received funds by new money emission from the Federal Reserve Banks (where they are shareholders), by the following means: 

  • open market operation (money market mutual funds)  
  • window discount (overnight loans backed by T-bills) – only commercial banks have access 
  • bill of discount discounting and other commercial papers (only commercial banks have access) 
  • Lombard credit – revolving type of credit (by investment banks) 
  • quantitative easing (investment banks) 
  • repurchase agreement 

 

This way, the local, national, regional, continental and the global stock exchanges are interconnected. 

 

  • The advantages of the members of the Stock Exchange and the Members of the Clearing Banks 

The stock exchange is a private institution that is self-regulated and self-governed. 

The stock exchange has the right to establish its own way of function and management by elaborating its own statute and regulations. 

The statute or the rule act of the Stock Exchange is adopted by the Stock Exchange members (the Stock Exchange shareholders). 

So, the Stock Exchange and the Clearing Bank shareholders (members) execute the management, the internal organisation of the stock market and its principles of functioning. 

 

The stock market and clearing house members decide: 

  • the way the financial titles transactions are done 
  • the trading systems that are used 
  • only the member has password access to the trading systems
  • the types of operations executed in the stock exchange 
  • the way the stock markets receive and execute orders 
  • the contract execution done through the stock exchange 
  • the way the information is distributed inside the stock exchange 
  • the way the transactions are reported 

 

The stock exchange and clearing bank members are allowed to be involved in proprietary trading. They are counterpart in transactions. 

Also the members of the stock exchange and clearing banks (and clearing house for derivative products) have supplied the stock exchanges with electronic equipment and particular software that are specially configurated to be able to secretly allow the access of the market makers broker dealers to the traditional Stock Exchanges outright transactions, as well as to the regulated derivative products stock markets, and the O.T.C. super sophisticated transaction platforms (that are not allowed at regulated markets). So, the unregulated O.T.C. products trading systems are attached to the regulated Stock Exchange trading system. 

The electronic equipment has certain operational and security requirements.     

The trading platforms can be commuted (connected) in secret from the usual regulated markets to the regulated markets for derivative products (futures, options) and on the unregulated markets over the counter (OTC) products. This connection can be done only by the members of those exchanges and clearing banks because they are the only ones with the privilege to have the keyword (password) to access the necessary systems. 

Nasdaq exchange that has a fully electronical O.T.C. trading system can be connected to the regulated derivative market and has the capacity to receive information and trade secretly with many more clearing banks. 

Through their complex system and through Electronic Communication Network (ECN), Nasdaq takes over the futures and options regulated contracts from the regulated markets, gets them structured and transfers them to the O.T.C. (bilateral cleared|) markets by using Intercontinental Exchange or Global Trade Repository (G.T.R.); DTCC deriv/ serv LLC; DTCC Institutional Traded Processing (ITP). Intercontinental Exchange (ICE) and GTR (DTCC) are, in reality, made by some Banking institutions (or complementary), but they have different names. 

 

  • How treasuries-based Exchange Traded Funds (ETFs) are made 

 

  1. The members that are brokers, broker dealers, Market Maker broker dealers (it is a hierarchy) have the role to gather the Western states treasuries from the local Stock Exchange (and Custodian Banks), National Stock Exchange and Clearing Banks, Continental Stock Exchanges (and clearing houses) and Intercontinental (Global) regulated Stock Exchanges and Clearing houses. 
  2. All these members use these treasuries baskets as underlying asset for the futures and options contracts at regulated derivative contracts Stock Exchanges. 
  3. During this third phase, the stock exchanges and clearing banks, for regulated derivative products Members, deliver, in secret, these option contracts (en gros) to the unregulated trading systems (shadow bank markets). These systems execute trades on the over-the-counter markets. These trades are bilateral cleared. Nobody else knows the details of the trades. 

Here, the options contracts are combined in certain ways that lead to the so-called options strategies: Straddle; Strangle; Butterfly; Condor. 

Also, here the guaranteed deposits are made by Market Maker Broker Dealer and Asset Manager (legal requirements). These guaranteed deposits are calculated using the sensitivity coefficient method: Delta, Gamma, Vega, Theta, Rho. 

  1. In this last phase, Exchange Trade Funds (ETFs) which use treasury options strategies as underling assets are built. 

These ETFs have the market price very hard to be evaluated at the expiry of the options contracts. 

The building stages of the ETFs based on the Occidental countries’ treasury baskets are presented in the next figure: 

 

Exchange Trade Funds is a type of Security that tracks options strategies based on Western states’ treasury basket: Straddle; Strangle; Butterfly; Condor

 

Options strategies are made by combination of Call and Put options transactions: Straddle; Strangle; Butterfly; Condor etc.

 

Options contracts based on Western countries’ treasuries 

 

Basket of Western countries treasuries 

 

All the options strategies contracts on which ETFs are constructed are traded and cleared (by the actual transfer of the treasuries, or equivalent value in money) by secret CROSS transactions. The illegal CROSS transactions are executed out of the stock exchange (bilaterally) and remains invisible because these transactions are not reported (illegal) to the Stock Exchanges. 

 

  • How the exchange traded funds built on underlying Occidental Stock Indexes and Occidental Treasury Indexes are made 

 

  1. For instance, Standard & Poor’s company has founded a mutual fund that has a similar portfolio with the S&P 500 Index portfolio. 

The mutual fund unit, that has the same structure with the index portfolio, is traded on the market. 

S&P index is used as support for the options contracts. The index options are contracts that have a stock index as support base. These are synthetic products. 

 

All the options contracts on stock market index are cleared and settled by clearing houses and the cash settlements have the same results that would be obtained by delivering of all the stocks contained by the index (but following the percentage of every company the Index is made of). 

At the expiry date, the stock market index contract is offset only by paying a certain amount of money without possibility to receive the equities the index is made of. 

All the stock market indexes options contracts are based on warrant deposits. These deposits can be affected by the sensitivity coefficients: Delta, Gamma, Vega, Theta, Rho. 

 

Example 1: 

The warranty deposit of the stock market member that sells 20.000 call contracts on TOPIX at 1860 with a premium of 40 is calculated as follows: 

(P + 0,2 TOPIX exerc) x M x N = (40 + 0,2 x 1860) x 10.000 x 20.000 = 82,4 billion Yen (approx. 750 mil USD)    

P = the exercise premium (in index points number = 40) 

Topix exerc = the exercise value of a Topix index option = 1860 

M = 10.000 Yen (Japan market multiplicator) 

N = the number of contracts = approx. 20.000 contracts – are done in CROSS transactions not operated through the Stock Exchange (during the next 35 seconds after trading program is closed). This remains unreported to the Stock Exchange. 

This Stock Exchange software is specially conceived, so it does not allow the report of the trade after the closing of trading hours. 

 

Example 2: the purchase of a call option on Topix index: if a trader bets on Topix index rising, he can win an amount calculated as follows: 

S = (Topix – Topix exerc – p) x N x M 

Topix = the current value of topix index = 2000 

Topix exerc = the exercise value of the index option = 1860 

N = the number of contracts = 20.000 (unreported CROSS transactions) 

M = Japan market multiplicator = 10.000 

P = the option premium expressed in Index points = 40 

S = (2000 – 1840 – 40) x 20.000 x 10.000 = 24 billion Yen (approx. 218 mil USD) 

At the exercise of the option, the buyer of the call receives the cash amount as per formula: 

S = (Topix – Topix exerc) x N x M 

S = (2000 – 1840) x 20.000 x 10.000 = 32 billion Yen (approx. 290 million USD) 

This is because the trader has already paid the premium at the time of the purchase of the call options. 

The multiplicator for the American Stock Market is 500 USD for one index point. 

For London Market, it is 25 GBP for one index point. 

For the Swiss Market, the multiplicator is 5 CHF for one index point. 

For Japan Market, the multiplicator is 10.000 Yen for one index point. 

On the market, there are exchange trade funds (ETF) like S&P 500 ETF, which tracks the S&P 500 Index. 

In the same time, Exchange Traded Funds is a type of security that tracks option contracts on diverse other international indexes, such as: 

  • Solomon brothers – Frank Russel global equity index  
  • Standard & Poor’s global 1200 index 
  • Financial Times – actuaries world index 
  • Morgan Stanley capital international indexes and others 

The way a stock market index-based ETF is built is reproduced in the next figure: 

Building of ETFs which track option strategies based on Western states stock indexes 

 

Option strategies that are combinations of Call and Put trades based on Standard & Poor’s index: Straddle; Strangle; Butterfly; Condor 

 

Options contracts on Standard & Poor’s index synthetic financial instruments 

 

Company shares selected to be listed at the exchange. S&P 500 index is being built 

 

Standard and Poor’s has founded a mutual fund managed also by the company Standard and Poor’s that has a structural identical portfolio with the S&P 500 index portfolio. 

 

The shares of the S&P 500 mutual fund that are owned by the shareholders contain a specific number of shares from all the 500 companies from S&P500 index. Each of these shares has a subsequent percentage as S&P 500 index. 

Let’s suppose that a market maker broker dealer who trades in his own name (proprietary trading) or an asset manager – clearing house (that is counterpart in all the OTC trades) buys a big quantity of shares of the mutual fund S&P 500 from a dealer with whom has a secret agreement. This is equivalent to the purchase of all the 500 shares from the index, corresponding to their weight in the index. 

This thing has as result the rising price of all the 500 shares, simultaneously, with the same percentage. 

So, the index value will rise with the same proportion. 

This way, the index market price can be manipulated pushing the index to the desired artificial value. 

In the same context, the ETFs index will have a bigger or a lower value, depending on the value of the underling index. 

It is to be reminded that the amount of money paid in bilateral trades with options strategies (ETFs based) depend on: the current value of the index, the options’ contract price, the market multiplicator and the number of options contacts. This is the procedure conceived by Tehran that the values of the intentional loses from the regulated markets trader to the shadow bank dealer to be very precise. 

The same thing is valid in the case of S&P Global 1200 index. 

 

  1. In the same way, ETFs which tracks options strategies based on Western countries treasuries and municipal bonds (one year) indexes are built. 

 

The underlying assets of these EFTs are options strategies based on Municipal Bonds (one year) or T bills (one year) indexes (synthetic financial instruments) 

 

Combinations of options contracts (Put and Call) – result options strategies: Straddle; Strangle; Butterfly; Condor etc. 

 

Options Contracts on Western countries T bills (one year) and Municipal Bonds (one year) index. These are synthetic financial instruments

 

T bills (one year) and Municipal Bonds (one year) index

 

This contract can be liquidated at the expiry, only by payment of the amount of money. 

 

  • All these financial instruments have been invented by Iranian and Indian financial engineers, in order to intentionally donate big amounts of money to the trading partner (shadow bank), giving the false impression to the Occidental people that the purpose is to make profit through financial speculations

 

This intentional loss of money from a trader in the favour of his trading partner is camouflaged in the shape of an investment bet on the over-the-counter (OTC) market. 

The options contracts strategies (on which ETFs are based) on equity and treasury indexes are executed and cash settled by secret CROSS transactions.  

 The CROSS transactions are invisible and unreported to the stock exchange. So, CROSS transactions are invisible to the other participants in the market (especially for the white people from the Western countries). 

The members of the regulated stock exchanges and clearing banks are part of the same financial holdings with the offshore (tax heaven) shadow banks from Canaris Islands. 

In this way, the shadow banks that have the role of dealers or traders with the location in Canaris Islands (that create the parallel bank system) have the possibility to access all the stock exchanges and clearing banks, in order to do the transactions. In this way the ETFs financial products are created. These EFTs have Western countries treasuries and equities as underlying assets. 

The access is allowed because members of stock exchange and clearing houses have delivered to the shadow banks from Canaris Islands, secretly and illegally, the secret access codes in all the stock exchanges and clearing banks. 

This way, CROSS trading (operated outside of the market and not reported to the stock exchange) between regulated stock exchanges and unregulated (and uncontrolled by financial authorities) shadow banks can be done. 

Under the pretext of eliminating the risk in trading clearance, within the biggest stock exchanges of the world, the custodian banks have the right to do clearing operations (they become clearing banks). This is something that is forbidden in the usual stock exchanges. 

Besides the codes, the dealers (shadow banks) from the tax heavens have been provided with terminals (computers) that are connected to the trading platform and communication systems of all the regulated stock exchanges and clearing houses. 

This way, “off balance sheet” companies that are so-called shadow banks or parallel banks can do secret CROSS trades with the stock exchanges from Europe, USA, Canada, UK, Japan, by secretly buying treasuries and creating portfolio of treasuries from these Occidental states. 

Parallel to the official chain of regulated stock exchanges and clearing banks, there is a chain of unknown and unregulated dealers and traders (hedge funds) that are not visible  and have the location in tax heaven. 

These dealers and traders are cooperating closely to the stock exchange and clearing banks owners (members) that are officially regulated financial institutions. Because they are part of the same financial holding. 

These offshore banks are also called shadow banks, which work in parallel with the traditional stock exchanges and benefit of all the information, the technology and the connection network that belong to the whole regulated stock exchanges and clearing banks network. 

This system was conceived by Iran, in order to transfer through CROSS trades, in secret, the Occidental assets from the traditional banking system to the parallel banking system (shadow banks). 

During the second phase, the parallel banking system will transfer the Occidental assets to the Indian Central Bank at half price and finally to China Central Bank. 

 

  • THE CROSS TRANSACTIONS 

The CROSS transactions are the ones where the market maker receives two limit orders. One limit order at maximum purchase price and one limit order at minimum sales price, that can be executed one through the other. 

The regulation states that these CROSS transactions can be executed by the broker outside of the stock exchange, but they have to be reported to the stock exchange. 

The regulation (issued by the stock exchange members) also reads that after a standard (or a smaller) lot trade is reported of a financial asset, the market maker has one minute (60 seconds) in order to list another quotation. 

If, for instance, the stock exchange program states: 

Closing auction 16.30 – 16.35, then the broker can close a trade with a very small lot at 16.34 and 30 seconds and from that moment on, according to the regulation, has one minute (60 seconds) available, in order to display another quotation for another trade. In that moment, the market maker does the CROSS trade between him and the shadow bank dealer from the tax heaven. The transactions are not executed through Stock Exchange. 

Because the minute that he has available out takes the hours 16.35 and 35 seconds, respectively, the software will not allow the trade to be reported to the exchange because the auction is closed at 16.35.00. This way, the trade remains unreported to the exchange!!! 

For this CROSS trade, the market maker broker dealer from the same terminal disconnects from the regulated exchange trading platform and connects to the Electronic Communication Network (ECN) and executes a huge amount of option contracts (tens of thousands) through Electronic Funds Transfer, during 35 seconds, to the shadow banks from the OTC unregulated market. 

This transfer of option contracts with Occidental treasuries and equities as underlying assets, are not known by anybody else. Only the members have the password to connect to these systems. 

 

This method used by Iran where treasuries options strategies ETFs and occidental indexes ETFs reach the shadow bank systems from Canaris Islands. Here, they are again packed and structured. Following these proceedings, they are transferred to Indian Stock Exchanges, Indian Clearing Houses, Indian Central Bank and finally to China Central Bank. 

For instance, London Stock Exchange schedule: 

  1. Trade Reporting, 7.15 – 7.50 
  2. Opening Auction, 7.50 – 8.00 
  3. Continuous Trading, 8.00 – 16.30 
  4. Closing Auction, 16.30 – 16.35 
  5. Order Maintenance, 16.35 – 17.00 
  6. Trade reported, 17.00 – 17.15 

 

Normal trading sessions on the main order book (SETS) are from 8.00 – 16.30. 

Stock Exchange Trading Sessions – (SETS) 

Auction periods (SETSqx) 

SETSqx (Stock Exchange Electronic Trading Service – quotes and crosses) is a trading service for securities less liquid than those traded on SETS. 

Less liquid securities is just a pretext. 

In reality, the broker and clearing house asset manager (Members) has a secret password for access in the Stock Exchange Electronic Trading Service – quotes and crosses. This way, they CROSS trade and cash settle a very big amount of OTC contracts (20.000 – 30.000) between 16.35 – 16.35 and 35 seconds, outside the working program (closing auction). 

The last transaction before the CROSS trades must end at 16.34 and 35 seconds. 

From this moment on, according to the regulation, the trader has one minute (60 seconds) available to display a new quotation. This minute lasts from 16.34 and 35 seconds to 16.35 and 35 seconds. 

These CROSS trades (20.000 – 30.000 option contracts in 35 seconds) invisible to the stock exchange became secret for the following reasons: 

 

  1. The CROSS trades are not displayed  in the stock exchange monitor, according to the trading regulation; 
  2. The CROSS trades are illegally done outside the trading “closing auction”. In the first 35 seconds after “closing auction” schedule is closed. 
  3. The CROSS trades remain illegal and on purpose unreported to the stock exchange; 
  4. The CROSS trades done through the Stock Exchange Electronic Trading Service – quotes and crosses – are executed (based on secret password) only by the members (shareholders) of the stock exchange and asset manager of the clearing house. 

The illegal CROSS transactions are done with: 

 

  1. ETFs based on option strategies on Western states treasuries portfolio. 
  2. ETFs which track option strategies on Western state indexes. Following these ETFs trades, the clearing house (asset manager) that is a counterpart in all (very sophisticated) OTC contracts and market maker broker dealer (proprietary trading) intentionally lose very big amounts of Western assets. 

By cash settlement operations and clearing operations that follow these CROSS transactions, big amounts of Western money and treasuries are secretly transferred from the regulated stock exchanges to shadow banks from the Canaris Islands. 

From Canaris Islands, the Western countries money and treasuries are transferred through shadow bank system to Indian Stock Exchanges and Indian Central Bank. Finally, these Western assets will be donated to People’s Bank of China. 

 

  • These Western states treasuries (T bills one year Municipal bonds-zero cupon bonds) are organized in treasury portfolios (basket) that have the following features: 

 

  1. The value of a basket of treasuries to be equivalent to about 100 million USD
  2. Each Western states treasury weight in the basket must be according to each state currency percentage in the SPECIAL DRAWING RIGHTS (SDR). 

For instance, in 2010, the percentage in the treasury basket was: 

  • USA treasuries 44% 
  • European treasuries 34% 
  • Japan treasuries 11% 
  • UK treasuries 11% 

For the European countries, the basket contains treasuries of all European countries, proportionally to each country participation to the Eu GDP (plus Swiss, Sweeden, Norway). 

The same procedure is applied for stock Index ETFs and treasury Index ETFs for which the contract settlement is done only by money transfer. 

The following mix is created: 

  • option strategies based on American indexes – settled in USD 44% 
  • option strategies based on European indexes – settled in EURO 34% 
  • option strategies based on Japan indexes – settled in Yen 11% 
  • option strategies based on UK indexes – settled in GBP  11% 

 

These treasury portfolios from which 50% of the value is given as a gift to China must have a tolerable value for each Western country, proportional to the GDP of each country. 

The principle set by Tehran is that the annual donation to China from the Western states to be proportional to the economic power of each Western state. 

For instance, in the year 2020, the Western states have donated unwillingly and without to know 30 billion USD per day or 7.8 trillion USD per year to China. 

These amounts were made by treasury basket baked ETFs, stock index ETFs, treasury index ETFs, gold ETFs and also cryptocurrencies secret transfers. 

 

  1. All the Western states treasuries (T bills one-year, Municipal Bonds one year) that form a treasury basket must have the same maturity date. Only this way they will be presented as payment for HSBC, Standard Chartered, Bank of China, Central Banks of Hong Kong commercial bills of exchange portfolios. 

Those baskets of bills of exchange will also have the same deadline (tenor) date with the Western countries’ treasuries portfolio. 

This type of payment is, in reality, a BARTER of financial products (as presented in Chapter II). 

 

To be remembered that these treasuries baskets represent the underlying assets of some option strategies that, at their turn, form the bases of some OTC products named Exchange Traded Funds (ETFs). 

The Exchange Traded Funds product and the option strategies they are based on are secretly transferred (through unreported CROSS trades to the regulated stock exchange to shadow bank system and then to Indian Stock Exchanges and finally to People’s Bank of China. 

ETFs have a very complex structure whose value can be determined only by Iranian and Indian financial engineers that have invented them. The American specialists (and Western ones) do not have the necessary knowledge to evaluate the ETFs products. 

Shadow banks will sell (on purpose) to Indian Stock Exchanges ETFs based on Western assets at a 2 times lower value (half price) against Indian rupees than the value that would be obtained from the official USD/ Indian rupee exchange rate. 

This is the method used by Iran and its ally, India, to avoid the American financial specialists to observe that for one USD was not paid, for instance 56 rupees – that is the official rate – but 28 rupees (half). 

This way, Central Bank of India got the possession of very big foreign reserves (Western assets). 

Basically, Indian rupee is anchored by the USD (and other Western currencies). 

For the Iranians, it is very important that the rate of exchange USD to Rupees (1 USD = 28 rupees) not to be written on any of the financial instruments as a trace (proof) of the fraud. 

In this stage, all the Western assets accumulated by the Indian Central Bank will be transferred through the Indian rupee to the Hong Kong Stock Exchange. This way, Hong Kong Dollar is anchored to the US Dollar.  

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