Has somebody better idea than this to curb black money and counterfeit? If not, shut up and watch next.
India's demonetisation of Rs. 500 and Rs. 1000 notes
331–336 of 336 posts
Re: India's demonetisation of Rs. 500 and Rs. 1000 notes
#332India gave no warning on Rs. 500 and Rs. 1000 notes. How are we suppose to cash in the ones we have?
Go to a nearby bank with your ID
Re: India's demonetisation of Rs. 500 and Rs. 1000 notes
#333Though it sounds like a bold move, it will not be a Richs to Rags story, most of undeclared wealth is already invested in Gold and Property (in proxy names).
A lot of people having undeclared wealth are going to lose 1% to 5% their wealth (which had held as cash for liquidity), no big deal.
Re: India's demonetisation of Rs. 500 and Rs. 1000 notes
#334I am not at all comfortable with the elimination of paper currency no matter what the rationale proffered by politicians and government hacks. Control of people from the top down is an ever present risk and cash money has a strong offsetting influence to the nefarious plans of would-be dictators. Put another way: Government is not benevolent and never can be. We should all be very careful.
> I am not at all comfortable with the elimination of paper currency Then it's a good thing that paper currency is not being eliminated. Cash continues to be legal. Some banknotes are eliminated, and new ones are introduced.
I came back to rub it in your face--they are in fact eliminating the higher denomination bank notes. It is a global ploy to support an agenda that has not yet been revealed.
Re: India's demonetisation of Rs. 500 and Rs. 1000 notes
#335How many days other countries given their people for exchanging currency??
Re: India's demonetisation of Rs. 500 and Rs. 1000 notes
#336This has nothing to do with paying taxes. I paid all my taxes and I bought Indian Rupee to take a trip to India and now my trip is a waste. I cannot go because my Rupee is no good and I cannot exchange it at Chase Bank where I bought the currency.