Black money: $104 bn stashed abroad, says white paper - firstpost.com Black money: $104 bn stashed abroad, says white paper - firstpost.com

Monday, May 21, 2012

Black money: $104 bn stashed abroad, says white paper - firstpost.com

Black money: $104 bn stashed abroad, says white paper - firstpost.com

A white paper on black money tabled in Parliament on Monday has named public procurement and non-profit organisations as particularly vulnerable to the menace of black money creation, while in financial markets, the initial public offers market was named as a black-money generating segment. Other black-money generating sectors: real estate and the jewellery and bullion markets.

However, no names were mentioned by the white paper.

Reuters

Given that land is part of the top black money generators, the white paper suggested that states could consider taxing farm income to curb black money.

To reduce black money generation in financial markets, the government said it would ask markets regulator Securities and Exchange Board of India to ensure that P-notes (participatory notes) are not used as a channel for black money. P-notes are instruments used by foreigners to invest in Indian securities. P-note subscribers should also be subjected to ‘know your customer’ (KYC) norms, the government said.

Another detail to emerge is that black money in Swiss bank accounts has declined by Rs 14,078 crore between 2006 and 2010, according to the government.

It said that its five-pronged strategy adopted by the government to tackle black money was yielding “good results”. However, it said that a multi-pronged strategy to deal with the menace was needed.

Earlier reports had said the white paper would likely not provide estimates of black money stashed overseas as the expert committees appointed by the government to assess the amount of unaccounted money are yet to submit their reports.

Controversially enough, the white paper also mentioned the Vodafone tax case as providing “an instance of misuse of corporate structure to avoid payment of taxes”.

You can view the full report below:

Whitepaper Back Money 2012



Real-Money Auction House coming this May 29th - UberGizmo (blog)

At the end of last week, we talked about how Blizzard apologized for the numerous snafus and errors that Diablo 3 had right after launch, mostly because there was a deluge of gamers who could wanted to log on the game and have a go at the sleek looking Lord of Terror. Well, the Real Money Auction House was described as having its release date pushed back from the original May 22nd listed date to an unknown quantity, but I guess all of that has been solved now with the latest announcement from Blizzard on their website that reads as follow.

As we mentioned earlier this week, we’ve decided to move out our target launch for the real-money auction house beyond our original estimated date of May 22. Our new estimated date for the launch of this new system is Tuesday, May 29. To learn more about the auction house system, have a look at the comprehensive Auction House Guide or check out the updated Auction House FAQ.

Surely this ought to smoothen out some ruffled feathers of gamers out there, no?

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Facebook's future has more than just money riding on it - The Guardian

It may have taken Nasdaq (possibly borrowing the London mayoral computer systems) a couple of hours to work out how much Facebook shares cost. But it took the market less than 60 minutes to test the will of Facebook's underwriters, pulling the shares down to the opening $38 to see if there was somebody prepared to save Mark Zuckerberg's face. There was, of course – how else does one earn one's 7% fee? – and the stock ticked back up, because, make no mistake, a Facebook first-morning discount would be little short of a calamity. A point not lost on shareholders of the Facebook games company Zynga, whose shares tumbled 13% on Facebook's so-so debut.

There is no shortage of debate on whether Facebook can justify its inflated $106bn valuation (at the time of writing). It has been well noted that its revenues fell in the first quarter of 2012 to $1.06bn, compared with the $1.131bn achieved in the fourth quarter last year. In the United States, where Facebook is clearly more mature, the company's ad revenue an hour is in line with the take for the proven and mature market of television, according to Enders Research. People in the US already spend 14% of their online time on Facebook (can there really be more growth in that?), which may explain why Facebook wins an estimated 14% of US online display spend. Perhaps in the world's largest economy Facebook is already mature.

Hold tight, though: there are plenty of arguments to keep the bulls happy too. Facebook's real prospects are to spread globally in the way that a single commercial broadcaster would never be allowed to do, not least in China, and to see if the company can develop a new line of business, hence all the speculation about getting into phones. Even on today's numbers, Facebook's revenues imply that each monthly active user generated just $4.11 last year; each daily active user $7.68. Compare that to ITV, to which about two-thirds of British people tune in every week; they are worth £43 a year to advertisers.

So given the difficulty of making predictions, it is possible to take whatever numbers you need to justify your position. What's interesting, though, is that most people argue that Facebook looks overvalued, yet we would not know what to do if that prediction came true. We have more invested in Facebook succeeding – because it is a more worrying question if it doesn't. The essential narrative of our times rests on the notion that technology is a constant motor of change, which brings with it great wealth.

Facebook, in this sense, is the heir to Amazon, Apple, Microsoft and above all Google, an extraordinary pipeline of companies. But it is also our lodestar for the next direction in media: if Facebook does not succeed, then perhaps all this talk of navigating the web through the medium of our friends was overrated; referrals to news websites, after all, still primarily come from Google.

Yet while Google's remarkable commercial success helps sustain the notion that there is a viable digital future out there for the rest of us, the failure of Netscape or the dotcom crash ought to lead us to consider that not every good idea becomes a global hit. And if Facebook falters on the stock market, there is no fresh company to take its place. MySpace et al have gone, and Twitter is a long way from generating the kind of cash that would allow it to excite.

Arguably, it would be more frustrating still if Facebook did quite well – growing by 50% a year rather than doubling, or whatever is required by the elevated valuation set by Wall Street. The credibility of social media would be dented, with a vocal group of frustrated investors – while those who pushed the valuation up to this level, and particularly those who sold out today, will have generated quite a return.



Making Money from Gold as a Personal Dealer with the “Gold Profit Formula” - YAHOO!

Novices are making money from gold with Absolute Wealth's new gold dealing training course.

Austin, TX (PRWEB) May 21, 2012

Making money from gold doesn’t have to involve a brick and mortar business, or a pawn shop mentality of cheating the customer. Any one, no matter how much or how little experience they have, can become a successful gold dealer and earn more money than they could have imagined, according to a recent AbsoluteWealth.com article. Thanks to outrageously high gold prices, the business is booming and people are jumping at the chance to dump their unwanted precious metals, the article said.

Sellers are earning good money, and buyers are turning their items in to refiners for even better money, said the article. Absolute Wealth has recognized the growing interest in gold dealing, and has accessed one of the most experienced and knowledgeable minds the jewelry and precious metal business has ever seen.

That expert shares his story and his advice in the “Gold Profit Formula,” the new training course that molds people into legitimate gold dealers. It teaches about the types of gold, silver, and other pieces of jewelry that get good money and shouldn’t be treated as scrap. It also teaches how scrap (whether it’s old, broken, or just not high-quality) can be turned into major profits through the refining process. It’s basically an easy gold guide that’s jammed with valuable information, the online article said.

It’s all about learning the value of precious metals and offering accordingly. The tools used to determine weight, size, and financial worth are explained using video trainings and a full-scale manual. “Gold Profit Formula” also guides people in the process of confidently connecting and communicating with potential customers to make them comfortable enough to conduct business. Sometimes the sleaziness of a “Cash for Gold” company creeps people out, said the article. If dealers act in a professional and fair way, they’ll see business pick up fast and have more customers than they could have ever expected.

Absolute Wealth is an expert team of real investors and advisors devoted to identifying winning strategies for exceptional returns. Members subscribe to the Independent Wealth Alliance for professional investment analysis and recommendations on the latest trends and progressions. For more information and subscription instructions, visit AbsoluteWealth.com.

Folks are eager to access the value of their gold, giving dealers the opportunity for real income generation. This is a chance to gain a significant amount of extra cash with the “Gold Profit Formula.” The article said it’s the most complete source of information on making money from gold, and it’s available now from Absolute Wealth.

Paul Norwine
AW Research Publishing, LLC
512-892-3022
Email Information



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