Imagine if $50s and $100s were banned overnight.

[5.56NATO]

That's kinda what India just did.




India’s Government Makes Banknotes Worthless by Decree Overnight
As I write this in the morning of 9th November 2016, there are huge lines forming outside gold shops in India — and gold traded heavily until late into the night yesterday. Depending on who you ask, the retail price of gold has gone up between 15% and 20% within the last 10 hours.
http://www.zerohedge.com/news/2016-11-10/gold-price-skyrockets-india-after-currency-ban


Apparently these are the notes most used by the middle and poorer classes, as usual the rich are protected and the poor are being fleeced by black market money changers. There's a war on cash worldwide and politicians and central banksters drool over the control that will give them, and there are a number of news pieces where banksters and politicians both call for the elimination of cash, no more financial anonymity unless by barter. The simple will see this as a good thing.

[rci2950]

I read about this today. weird situation. RS 50 and RS 100 notes. Exchange is pretty low. Some are showing up on Ebay. Was thinking about picking one up. They aren't near worth $50 or $100 more like $10 and $20 but still.. probably worth a lot to them.

[5.56NATO]

I read about this today. weird situation. RS 50 and RS 100 notes. Exchange is pretty low. Some are showing up on Ebay. Was thinking about picking one up. They aren't near worth $50 or $100 more like $10 and $20 but still.. probably worth a lot to them.

Ah but the 50 and 100 notes are the "drug dealer's" currency. Expect the US to try to remove at least the 100 notes, war on drugs and all that. Anyway back to India;

NEW DELHI/MUMBAI (Reuters) - Indian banks called in thousands of police on Thursday to manage huge queues outside branches, as people tried to exchange bank notes abruptly pulled out of circulation by Prime Minister Narendra Modi in a crackdown on "black money".

Modi announced the shock move on Tuesday night to ditch 500 and 1,000 rupee notes - worth a combined $256 billion - that he said were fuelling corruption, being forged and even paying for attacks by Islamist militants against India.
https://www.yahoo.com/news/indian-banks-call-police-people-rush-ditch-old-105704060--sector.html

[5.56NATO]

"There's Chaos Everywhere" - Indians Angry As ATMs Run Dry After Cash Ban
http://www.zerohedge.com/news/2016-11-12/theres-chaos-everywhere-indians-angry-atms-run-dry-after-cash-ban

[5.56NATO]

"We are living in a world where paper fiat money is becoming a novelty.

In Australia, Citibank has just become the first to declare that it no longer will accept notes or coins. Only digital transactions. This follows on the heels of India banning large cash denominations.

The cash-oriented changes of these two countries are especially troubling in light of the eventual plans to phase out large denomination euro notes and the US 100 dollar bill by 2018. Just as the Economist predicted nearly 30 years ago, the world is going cashless."
https://dollarvigilante.com/blog/2016/11/15/war-cash-goes-nuclear-india-australia-across-world.html

[5.56NATO]

Finally the truth comes out;


India's Modi calls for move towards cashless society
http://www.reuters.com/article/us-india-modi-digital-payments-idUSKBN13M07Z?il=0

What he's not telling Indians is that every digital transaction will come at a cost, middlemen will be taking a cut on every swipe of a card, every card number entered on a online purchase. Also let's not forget the absolute power that a government/bank has in a cashless society.

[NAPOTS]

IMHO the government loves this because they love control getting rid of cash takes an element of control away from the people and adds to the power of government. It also provides the ability to tax every single transaction between individuals.

[Hobe Sound AK]

I would not be surprised if and when they try to Remove the 50. and 100. Dollar Bill. On 31 July, 1945, all of the top 4 Bills were discontinued. I am referring to the 500. 1,000. 5,000. and 10,000. Dollar Bills. I recall seeing them at a Coin Show. Paul

[5.56NATO]

I think we know the reason why India pushed for this theft of the Indian people's money now, their effort to steal their gold hasn't been well received by the victims;


"“Capital gains and income taxes”? Indians are having their gold stolen from them. They receive paper interest equal to a fraction of the value of that gold in return. And the media/government liars have the audacity to call this interest a “gain” or “income”? How magnanimous of India’s government to announce that it wouldn’t tax those “profits.” "
https://www.sprottmoney.com/News/the-bankers-india-gold-grab-an-update-jeff-nielson.html