21–30 of 86 posts
* part 1: http://www.npr.org/sections/money/2017/05/10/527803742/episo... * part 2: http://www.npr.org/sections/money/2017/05/12/528181998/episo...
For people who can't access the link: https://archive.fo/ynouY I am confused with the article though. What would have been a successful result? That the all canceled currencies wouldn't have been exchanged or deposited? I am reading this link: http://www.financialexpress.com/economy/all-rs-500-rs-1000-b... The wording is confusing at best: " nearly 99% of the high-denomination currency notes of Rs 1,000 and Rs 500 th…
"I am confused with the article though. What would have been a successful result? That the all canceled currencies wouldn't have been exchanged or deposited?" Yes - exactly - the assumption earlier was that a significant amount of money stored with the denominations that were de-monetised was "black"/unaccounted money. And this would not be deposited into banks due to fear of being scrutinized. If this had happened o…
It is going to be interesting times ahead with the data they might have collected.
EU is about to make their 500 EUR illegal http://www.bbc.co.uk/news/business-36208146 in a sense. If you're a drug dealer or a politician (no need to add the corrupt label in certain countries) I can help you with a few of them ;) Yeah, making your cash illegal--it is unless you're willing to explain in year 2032 how you ended up with a 50 gallon drum full of 500 euro notes--will help. But in many countries where the…
EU is about to make their 500 EUR illegal http://www.bbc.co.uk/news/business-36208146 in a sense. If you're a drug dealer or a politician (no need to add the corrupt label in certain countries) I can help you with a few of them ;) Yeah, making your cash illegal--it is unless you're willing to explain in year 2032 how you ended up with a 50 gallon drum full of 500 euro notes--will help. But in many countries where the…
From the article you linked: "The ECB says the €500 banknote remains legal tender and will always retain its value."
And they will not be accepted as "legal tender" to settle drug /illegal deals, so they are out, in a way.
>Arun Jaitley, finance minister, on Thursday defended the demonetisation at a conference in New Delhi. He admitted that black money had come back into the banking system, but said that tax officials were combing through people’s accounts to identify and tax it. >He said: “The fact that money has got into the banking system does not mean that it is all now legitimate . . . The money got identified with the owner whom…
Was it worth killing people? http://www.huffingtonpost.in/2016/11/17/day-9-demonetisation...
No scheme can eliminate the evils 100%. However, overall it had pretty strong positive impact on economy. Many of the roadside merchants who used to be exclusively cash only, have started accepting dizital payments. All those on-record transactions are now part of formal banking system, instead of earlier don't-bother-about-tax approach. Combine this with the recent roll out of GST, we are on a very progressive path…
I'm not sure. Historically, Indian governments have been most undeserving of our taxes simply because they've misspent it and/or misdirected it to achieve their own means (corruption, buying votes etc). Saying "yes but this government is different" also doesn't hold water when you look at the massive farm loan waivers that were just granted, and more waivers are on their way. How do you think the waivers were funded?…
Consider the cost to build and maintain a road network vs. the benefits it brings.
PS: Further, it's not a question of collecting more money from everyone it's a question of collecting the same money from everyone which is a benefit even if you end up burning the extra money.
As someone who actually lives in india, I am vouch that Demonetisation was a disaster of all sorts. Ruling party kept justifying this failure by shifting the goal posts again and again.
Here is a piece which describes in detail, this monumental failure of indian government failure
http://www.dailyo.in/business/note-ban-demonetisation-rbi-na...
See how shamelessly the ruling party shifted the goal posts trying to justify their pathetic failure
http://indianexpress.com/article/india/demonetisation-rbi-an...
>Arun Jaitley, finance minister, on Thursday defended the demonetisation at a conference in New Delhi. He admitted that black money had come back into the banking system, but said that tax officials were combing through people’s accounts to identify and tax it. >He said: “The fact that money has got into the banking system does not mean that it is all now legitimate . . . The money got identified with the owner whom…
EU is about to make their 500 EUR illegal http://www.bbc.co.uk/news/business-36208146 in a sense. If you're a drug dealer or a politician (no need to add the corrupt label in certain countries) I can help you with a few of them ;) Yeah, making your cash illegal--it is unless you're willing to explain in year 2032 how you ended up with a 50 gallon drum full of 500 euro notes--will help. But in many countries where the…
I'm not a tax evader or a criminal and I've used $100 USD notes and 500 EUR notes during my travels simply out of convenience. It's ridiculous to implicate the users of these bank notes as criminals purely on the size of the denomination.
EU is about to make their 500 EUR illegal http://www.bbc.co.uk/news/business-36208146 in a sense. If you're a drug dealer or a politician (no need to add the corrupt label in certain countries) I can help you with a few of them ;) Yeah, making your cash illegal--it is unless you're willing to explain in year 2032 how you ended up with a 50 gallon drum full of 500 euro notes--will help. But in many countries where the…
https://mobile.nytimes.com/2017/08/22/world/europe/angola-po...