311–320 of 336 posts
Earlier quoted context omitted.
Can you use USD as currency in India? I haven't seen a single place that would accept that.
You can't buy regular items (e.g. a dosa) with USD except maybe at the airport. From what I'm told, USD is sometimes on the table as currency in black money transactions. I don't know the specific mechanics of it - I'm a firang with no black money.
Earlier quoted context omitted.
Isn't this a trick that will only work once? Wont the people who are taking advantage of black money start using a different store of value that isn't controlled by the Indian government like foreign currency or high value commodities?
Note that starting tomorrow, people will become progressively reluctant to accept those notes in retail transactions. It will become difficult for anyone with a hoard to exchange these notes for any other commodity. EDIT: fixed typo "tomorrows"
Earlier quoted context omitted.
Isn't this a trick that will only work once? Wont the people who are taking advantage of black money start using a different store of value that isn't controlled by the Indian government like foreign currency or high value commodities?
Note that starting tomorrow, people will become progressively reluctant to accept those notes in retail transactions. It will become difficult for anyone with a hoard to exchange these notes for any other commodity. EDIT: fixed typo "tomorrows"
America will promote FDI for you;
America will print currency for you;
America will prevent hawala for you;
America will fight terrorism for you;
America will prevent inflation for you;
America will prevent black money for you;
America will prevent fake currency for you;
http://qz.com/260980/meet-the-countries-that-dont-use-their-...