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Old January 12th, 2013, 11:12 PM   #1
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GBP 600 trillion to be returned to India by Britain


Drain of Wealth from India to Britain during centuries of oppressive loot and plunder. With simple interests even at very low rates, the amount works out to around GBP 600 Trillion. This amount rightfully belongs to India. it has been stolen by the British. It needs to be returned.

Many scholars have analysed the drain of wealth including Dada Bhai Naoroji. These are simply intelligent guesstimates but based on sound reason. I shall reproduce siome of them. Many others are available. All you need is Google and a willingness.

Dadabhai Naoroji, the founder of Congress also called, "The Grand Old Man Of India", and mentor of both Gokhale and Gandhi estimated in the 1870s, in his book titled, " Poverty And Un-British Rule In India", that the draining of wealth from India by the British was to the tune of 4 million pounds a year. This he calculated from the year 1857 onwards which went unabated till 1947.

Assuming that the drainage was an estimated 2 million pounds a year from 1767 (Battle Of Plassey) to 1856 and 4 million pounds from the year 1857 to 1947 then the total amount swindled would be an astonishing eye-opener in
today's terms. Let us see how. If we assume the money could have been invested at 7.5% compound interest then the present day value calculated using time value of money is roughly 600,000,000,000,000 pounds or 600 trillion pounds.

It is clear that it is very important for Indians to rally around with each other and
ask Britain to return the money to its rightful owners, the Republic Of India This money could be robbed of simple minded but divided Indians because the British had lied to the Mughals and Indian public in general, at Emperor Jehangir's time, when they first established the British East India Company in India. They said they come to trade but actually were building their armies in disguise, saying it was needed to safeguard the so-called interests of British East India Company.


Prof Hyndman had given a much lower estimate based on exports.
2. Ordinary readers rarely follow calculations in the text. I prefer therefore to put the figures of the Indian trade in a note. It must be borne in mind that no analogy whatever exists between such a country as the United States and India. The excess of Exports from the United States may be and as a matter of fact are represented by the unseen import of bonded and other indebtedness redeemed from abroad, or by investments in foreign countries, which, also, would not in this case appear in the trade returns. It is certain that India’s debts are not being repaid but being added to, and it is equally certain that she has made and is making no investments abroad. Consequently, the actual net surplus of exports from India over exports into India, the exports and imports of treasure being duly taken account of, represent the total amount of the actual drain of produce from India without commercial return. Now the total excess of exports for the last three years as given in the corrected official returns are for 1902-3 18,570,811; for 1903-4 24,961,773 and for 1904-5 20,144,132 or an average of 21,500,000. But this is far from being the amount of the drain. In order to arrive at the true figures and in order to balance correctly, we have (as the estimate of values is made at the Indian ports) to add at least fifteen per cent to the total of the exports in order to make up for a similar amount for profit, insurance and freight charged on the imports at the points of debarcation. If this is done in regard to the three years named, it will be found that upwards of 14,000,000 on the average should be added to the 21,000,000 of excess exports Thus the real yearly drain of wealth from India represents at least 35,000,000. In fact it is much more; as there can be no doubt whatsoever that much of the treasure retained in India on balance of treasure imported, as well as more than their proportion of trade imports, goes to the Native and Border States which are not under direct British control though their imports as well as their exports are calculated in with the figures of purely British territory.

But as he himself acknowledges he has not considered many aspects.

Another article calculates it as 521 trillion

The lowest estimate is that Britain was bleeding India at the rate of three to four million pounds per year. Or was it thirty to forty million? I need to check on that. Anyway let's stick with the lesser amounts for now. Average those to 3.5 million pounds per year. Assume that that sum was constant from 1857 to 1947. Assume further that the British looted a paltry 1 million pounds per annum from 1767 to 1856. Assume a 7.875% rate of annual interest compounded yearly. That must be a good rate because that is what I'm paying through the initial years on the adjustable-rate mortgage on my house. Then we calculate

Sum_{n = 1997 - 1767}^{n = 1997 - 1856} (1.07875)^n +
3.5 * Sum_{n = 1997 - 1857}^{n = 1997 - 1947} (1.07875)^n = (0.07875)^(-1) [(1.07875^231 - 1.07875^141)
- 3.5 * (1.07875^141 - 1.07875^50)] million pounds.

That works out to about 521,000,000,000,000 pounds, to be divided between India, Pakistan, and Bangladesh. Interest is currently accruing at the very serious rate of 41,000,000,000,000 pounds per annum. I haven't included damages, and interest thereon, for the Bengal famine, the Jallianwallah Bagh, and other like injuries. I haven't even included "gifts" like the Koh-i-noor. How much must we Indians have loved George V to have given him a nice gift like that to stick with glue on his gold crown! And guess where did he steal the gold and glue from?

On the basis of the current populations of India (946 million), Pakistan (140 million), and Bangladesh (119 million), unless we wish to make this a class action, India's share is 409 trillion pounds.


Prof Ram Ramarao suggests that Indian economists should be preparing accurate estimates of how much the British looted. He says that if American economists can do environmental economics and place dollar values on the non-extinction of whales, and clean and unclean air, etc., then it should be a peach to figure out exactly how much the British looted. Of course, those estimates should also cover "gifts" and damages.

It will be good to keep the estimates handy, even if no collection mechanism appears obvious today. There may come a day when there is big gun hanging from India's belt, and that sort of thing has the miraculous property of making the impossible possible. Not for nothing did the Indian princes quietly sign on the dotted line under a statement of the "doctrine of lapse" that decreed that their kingdom would pass to the British if they had no surviving male offspring. Maybe Prince Dody and Princess Diana's high-speed ascent to a higher plane is the sign we have all waited for

Last edited by birder; January 12th, 2013 at 11:28 PM.
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Old January 12th, 2013, 11:14 PM   #2

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As I have said often, Britain can pay this with the small change in its pocket after Italy compensates us for the Roman occupation and the accumulated compound interest from that. Which by now will be about a million times all the money in the world.
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Old January 12th, 2013, 11:17 PM   #3

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Could you please choose a different colour to put your font in. That blue is just not readable against the gunmetal grey background.
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Old January 12th, 2013, 11:22 PM   #4
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As I have said often, Britain can pay this with the small change in its pocket after Italy compensates us for the Roman occupation and the accumulated compound interest from that. Which by now will be about a million times all the money in the world.
What about you Brits sticking opium down the throats of the Chinese? Because of you, China fell into 2 centuries of darkness. Not only that, China got ruled by Communist Mao.

Great Britain is not in a position to pay anyone now. I suggest India and China launching their ICBMs to the UK.
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Old January 12th, 2013, 11:24 PM   #5
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As I have said often, Britain can pay this with the small change in its pocket after Italy compensates us for the Roman occupation and the accumulated compound interest from that. Which by now will be about a million times all the money in the world.
Hahaha... This money reached Britain from India and was not sent by Britain to Italy or elsewhere. And returned to India it shall be.. if not now then within the next few decades....Whether Britain is able to get it from some other country or not..
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Old January 12th, 2013, 11:27 PM   #6

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Originally Posted by birder View Post
Hahaha... This money reached Britain from India and was not sent by Britain to Italy or elsewhere. And returned to India it shall be.. if not now then within the next few decades....Whether Britain is able to get it from some other country or not..
Not until Italy pays us for the Roman occupation, Denmark for the Danish and France for the Norman. And I think the Dutch should pitch in a bit for William of Orange, even though technically we asked him, he could have said no.


India also owes Pakistan a lot of money for the Maurya, Kusan and Pala Empires.
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Old January 12th, 2013, 11:32 PM   #7
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Not until Italy pays us for the Roman occupation, Denmark for the Danish and France for the Norman. And I think the Dutch should pitch in a bit for William of Orange, even though technically we asked him, he could have said no.
The question of willingness of Britain does not arise at all. I would draw your kind attention to the last paragraph of my first post. It is just a matter of time...

Britain has already used up used up its guns and cannons.. No more persuasive value. ..Spent force...

For India and China, the size of the guns is increasing regularly...As soon as the persuasive value acquires a critical mass....BOOM!!!..and payback time...
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Old January 12th, 2013, 11:33 PM   #8
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Could you please choose a different colour to put your font in. That blue is just not readable against the gunmetal grey background.
Yes sir. I hope yellow is OK.

Thanks and regards.
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Old January 12th, 2013, 11:34 PM   #9

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Actually British nukes can hit India, but India has nothing that can reach Britain. So if you want a nuclear war, go ahead.
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Old January 12th, 2013, 11:41 PM   #10

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It is hard to believe that someone is seriously suggesting India would start a global nuclear war over the matter of some fiat currency. Fine nationalist chest-thumping to make the ill-educated peasantry feel good, but nothing to which a serious member of the Indian elite would spare even a moment's thought.
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