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India – On a Downward Spiral
India – On a Downward Spiral India’s Currency Ban – Part IX India’s Prime Minister Narendra Modi announced on 8th November 2016 that Rs 500 (~$7.50) and Rs 1,000 (~$15) banknotes would no longer be legal tender. Sadly, the despondency visible in the old man’s facial expression has become a widespread phenomenon since the currency […]
Visualizing The Global War On Cash
Visualizing The Global War On Cash There is a global push by lawmakers to eliminate the use of physical cash around the world. This movement is often referred to as “The War on Cash”, and there are three major players involved. 1. The Initiators Who? Governments, central banks. Why? The elimination of cash will make it […]
Greece Unleashes ‘Soft’ Cash Ban
Greece Unleashes ‘Soft’ Cash Ban The spread of global cash bans continues with Greece unveiling their so-called ‘soft’ approach by which taxpayers will only be granted tax-allowances or deductions when payments are made via credit or debit cards. As KeepTalkingGreeece reports, the new guidelines refer to employees, pensioners, farmers, and also the unemployed. Accepted expenditure will be: purchases for […]
Modi’s Great Leap Forward
Modi’s Great Leap Forward India’s Currency Ban – Part VIII India’s Prime Minister, Narendra Modi, announced on 8th November 2016 that Rs 500 (~$7.50) and Rs 1,000 (~$15) banknotes would no longer be legal tender. Linked are Part-I, Part-II, Part-III, Part-IV, Part-V, Part-VI and Part-VII, which provide updates on the demonetization saga and how Modi is acting as a catalyst to hasten the […]
India’s Prime Minister Has Singlehandedly Crushed the Economy with His Reckless Cash Ban
India’s Prime Minister Has Singlehandedly Crushed the Economy with His Reckless Cash Ban Today’s piece should be seen as a bit of a followup to yesterday’s post, India’s Demonetization Debacle Highlights the Dangers of Monetary Monopoly. While yesterday’s piece was more philosophical/strategic in nature, today’s zeroes in on some of the devastating real world impacts of Narendra […]
“Gold Is Now Effectively Illegal” In India – The Consequences Of Creating A Cashless Society
“Gold Is Now Effectively Illegal” In India – The Consequences Of Creating A Cashless Society Jayant Bhandari warns “there are clear signs that in a very convoluted way, possession of gold for investment purposes will be made illegal” as he discusses India’s attempts to create a cashless society (and consequences of it) and why precious metals and geographical […]
Cash Is No Longer King: The Phasing Out of Physical Money Has Begun
Cash Is No Longer King: The Phasing Out of Physical Money Has Begun As physical currency around the world is increasingly phased out, the era where “cash is king” seems to be coming to an end. Countries like India and South Korea have chosen to limit access to physical money by law, and others are beginning to test digital blockchains for […]
India Confiscates Gold, Even Jewelry, in Raids on Hidden Money
India Confiscates Gold, Even Jewelry, in Raids on Hidden Money Global financial repression picks up steam, led by India. After declaring large denomination notes illegal, India now targets gold. It’s not just gold bars or bullion. The government has raided houses, no questions asked, confiscating jewelry. For background to this article, please see my November 27 article […]
An interesting perspective on the War on Cash
An interesting perspective on the War on Cash It’s happening faster than we could have ever imagined. Every time we turn around, it seems, there’s another major assault in the War on Cash. India is the most notable recent example– the embarrassing debacle a few weeks ago in which the government, overnight, “demonetized” its two […]
Gold Price Skyrockets in India after Currency Ban – Part IV
Gold Price Skyrockets in India after Currency Ban – Part IV A Market Gripped by Fear The Indian Prime Minister announced on 8th November 2016 that Rs 500 and Rs 1,000 banknotes would no longer be legal tender. Linked are Part-I, Part-II and Part-III updates on the rapidly encroaching police state. The economic and social mess that Modi has created […]
Angry Mobs Lock Up Indian Bankers As Cash Chaos Soars: “We Are Fearing The Worst”
Angry Mobs Lock Up Indian Bankers As Cash Chaos Soars: “We Are Fearing The Worst” India’s demonetization campaign is not going as expected. Overnight, banks played down expectations of a dramatic improvement in currency availability, raising the prospect of queues lengthening as salaries get paid and people look to withdraw money from their accounts the Economic […]
“There’s Chaos Everywhere” – Indians Angry As ATMs Run Dry After Cash Ban
“There’s Chaos Everywhere” – Indians Angry As ATMs Run Dry After Cash Ban The blowback from the world’s latest strike in the war on cash is unraveling fast in India. This week’s decision by PM Modi to ban some high-denomination banknotes (on the premise of fighting corruption) has left “chaos everywhere” according to one official who accused the prmeier of wreaking […]
Corruption and economic instability in the news
Corruption and economic instability in the news [ I can’t keep up with the flood of news about on fraud and economic instability, so below are a few of the stories I don’t have time to write up. But there are hundreds of stories every month, too many to list or keep up with. See […]
