india note news

[redlock]

In my opinion we should make a BIG DEAL of the freedom to use anonymous cash. It should be enshrined in human rights law for our protection from governments.

I wholeheartedly agree :wavemulticolor:

[Chuckey]

UBS (read RBA) suggests abolishion of the Aussie $100

I commented here last week that there is a concerted world-wide move by the secret authorities to eliminate cash. So its only a few days later that we hear a UBS analyst suggesting that Australia should abolish its $100 notes, because the only people using them are "criminal." The inference is hard to escape that anyone who prefers to use cash is also a criminal. Wake up sheeple! Let me also say even though this is written by a senior banking analyst, he would not go flying such a controversial idea without input from the RBA. This article is nothing more than a trial balloon from the Reserve Bank of Australia, to gauge public sentiment.

http://http://www.theaustralian.com.au/business/financial-services/ubs-analysts-call-for-australia-to-dump-100-notes/news-story/de5a6d38a536c9a29042d6863a23bb30

[nealeffendi]

UBS (read RBA) suggests abolishion of the Aussie $100

I commented here last week that there is a concerted world-wide move by the secret authorities to eliminate cash. So its only a few days later that we hear a UBS analyst suggesting that Australia should abolish its $100 notes, because the only people using them are "criminal." The inference is hard to escape that anyone who prefers to use cash is also a criminal. Wake up sheeple! Let me also say even though this is written by a senior banking analyst, he would not go flying such a controversial idea without input from the RBA. This article is nothing more than a trial balloon from the Reserve Bank of Australia, to gauge public sentiment.

http://http://www.theaustralian.com.au/business/financial-services/ubs-analysts-call-for-australia-to-dump-100-notes/news-story/de5a6d38a536c9a29042d6863a23bb30

They think that the bank deposits will increase by 4% if all the $100 notes are deposited:laughingneqw: No, people will just withdraw an equal amount of lower denominations to stick in their emergency cash stockpiles. They might even take out MORE cash to stick under the mattress because when banks and governments play nasty games then many people rightly fear bank bail ins and governments stealing money "for the children".
It might even stuff the banking system up if people convert their $100s into rolls of small change. The mint could never keep up and both banks and retailers would be unable to make change for their customers.

[Enlilninlil]

Oh there are fake 2000 rupee notes already. And the current 2000 rupees seem to be of poor quality. Hahahaha good one Modi.

[AussieSilver]

They have had to extend cashing in old notes for another week , banks have run out and ATM's can't use the new notes . 43 people have been killed in the rush and you can only change what amounts to $50 AUS in a one off transaction OMG

[Chuckey]

An epic disaster in the making. The cash economy in India is extremely important to the population, especially the poor. However Indians have to be among the most innovative people when it comes to making do.

[Fulvio]

Indians have to be among the most innovative people when it comes to making do.

Couldn't agree more.

I wouldn't be surprised to see these notes continue to circulate even after they stop being legal tender. The government probably expects them all to just be destroyed, but that's never going to happen.

[trout]

Why would a note that had NO legal value still circulate??
A lot of Indians are very poor but I doubt very much that they are stupid.

[nealeffendi]

Why would a note that had NO legal value still circulate??
A lot of Indians are very poor but I doubt very much that they are stupid.

Perhaps they might force the government to back down by doing this? Last thing most elected governments want is to cause financial ruin to a few hundred million poor VOTERS (the US Democrats still have not that message:to_pick_ones_nose_eat:).