India: Millions Rise Up Against New World Order Ban On Cash

[randomradio]

things work very differently in advanced western economies, what we have here is a very strong bitter pill, unintended poison for too many innocents.

Things work the same. They are just better educated and have more technology.

I know intimately how it works, it's not hogwash, its just how business is done between regular non criminal citizens who reach a mutual agreement on price, not sure throwing a spanner in that was a good idea.

I'd rather not argue on this point by point because I'm not opposed to the idea behind it but suffice it to say that I am not sanguine and don't share your optimism.

So you are 'for' tax evasion?

It doesn't matter even if he is a tea seller in a roadside cabin, if he is buying/selling property, he should pay taxes. Taxes go into servicing the people. Who will build the power plant to give electricity to his house if he doesn't pay taxes? Who will give him water and drain connection? Who will build roads? Should other people pay for all that?

Those non-criminal citizens should also pay full amount of taxes. If they don't pay taxes, then they become 'criminal'.

 

[xuxu1457]

Before this , I thought Modi is a farsighted leader, now I know he is a blindman

Money is the credit of the state，it derives its value by being declared by a government to belegal tender; that is, it must be accepted as a form of payment within the boundaries of the country. It's the cornerstone of one country, after this, people will not likely put most money into bank but change to foreign currency exchange and gold.

What a stupid method I never seen before~~~~

 

[Mr.Nair]

Before this , I thought Modi is a farsighted leader, now I know he is a blindman

Money is the credit of the state，it derives its value by being declared by a government to belegal tender; that is, it must be accepted as a form of payment within the boundaries of the country. It's the cornerstone of one country, after this, people will not likely put most money into bank but change to foreign currency exchange and gold.

What a stupid method I never seen before~~~~

Note ban sees 30 lakh new bank accounts, SBI alone opened 11.8 lakh accounts

If you buy more gold and change to foreign currency, the records will be gone to concerned authorities.So every thing will have records and accountable and is exposed to authorities.

 

[T-72]

if its not bad why is it called "black money" ? might as well call it "money".

what's next ? "Not all Rape is bad" ? lol.

not all rape is bad when commie feminists misuse that to implicate innocent men.

BTW if two "Non criminal citizens" reach a mutually agreement on price, any particular reason that "non criminal" person cannot pay by Cheque ?

why pay high tax on an apartment sale if you're a regular guy who did nothing wrong and that's all you hold or if that apartment is one of a handful of investments you own ?

A lot of people like you seem to be living in an alternate ideological universe where this govt can do no wrong, a dangerous commie mindset, think about that for a bit.

I'm not a hive mind commie/jihadi zombie, not a "poperty" dealer lala either, just been involved in a few of these over the last couple of years so I know how it works.

 

[Sheikh Rauf]

conspiracydailyupdate.com

yup, legit


a Pakistani sitting in Qatar bitching about "terrorists"

Hitting on the spot.

 

[JazbaatiHindustaani]

The potential India will realize when it goes largely cashless, oh boy. Let these fear mongers keep creating fantasies of India going down etc but these are just growing pains.

While the rest keep doing nothing and just mock us, we'll race past them and make them irrelevant to us.

 

[Mr.Nair]

The logic is like this:-

A printing currency consider 100%
B (people) holding 75% currency
C(Corrupted ones) holding rest of 25% with out paying taxes nor putting in bank and holding majority 500 or 1000 notes
So A banning currency immediately and told to change in bank
So C could not able to go bank as there is limitation in changing the currency or pay heavy taxes+penalty, but B can.
So A know how much curency in circulation and can print so to be 100%
Now the looser C will have currency equivalent to a paper.

 

[PlugnPlay]

not all rape is bad when commie feminists misuse that to implicate innocent men.

I see, "NOT ALL RAPE IS BAD".

The "feminists misuse" rape by getting their members raped by wearing provocative clothing and then "trapping" innocent men into raping them.

why pay high tax on an apartment sale if you're a regular guy who did nothing wrong and that's all you hold or if that apartment is one of a handful of investments you own ?

A lot of people like you seem to be living in an alternate ideological universe where this govt can do no wrong, a dangerous commie mindset, think about that for a bit.

I'm not a hive mind commie/jihadi zombie, not a "poperty" dealer lala either, just been involved in a few of these over the last couple of years so I know how it works.

So you are actually ADVOCATING Black money and justifying Black money by demanding that its your "Right" not to pay taxes

You want all your "Rights" but not any of your "Duties". Those are for "Other" Indians like me and "bhakts", right ?


If you are living in an universe where "Rape is not bad" and "Taxes are bad". then clearly we are living into two alternate universe. You live in a universe that worship Arvind Kejriwal and mamata banerjee. I certainly don't.

And you are right, I do represent a dangerous mindset for people like you. But make up your mind if I am a "commie/jihadi" or a "bhakt". I clearly can't be both


You do not have a hive mind, you have no mind to speak off. All you have are foolish preconceived notions and an inability to think or process facts and information and form independent opinion.

I would be wasting my time in even attempting to educate you. Its just not worth it my Dalit friend.

 

[navtrek]

This BBC report says: thousands of them today will turn into hundreds of thousand in the next few weeks.

Those are workers belonging to opposition parties just look at those flags. Dont worry the people support the move and we are happy that finally we have a government that has balls.

 

[ayesha.a]

Before this , I thought Modi is a farsighted leader, now I know he is a blindman

Money is the credit of the state，it derives its value by being declared by a government to belegal tender; that is, it must be accepted as a form of payment within the boundaries of the country. It's the cornerstone of one country, after this, people will not likely put most money into bank but change to foreign currency exchange and gold.

What a stupid method I never seen before~~~~

You fail to distinguish between money and the paper it is printed on.

Yes, Fiat money derives its value from being declared to be of value by a state. The Indian rupee note has a statement from the govt (RBI governor), that reads : "I promise to pay the bearer a sum of XYZ rupees." (XYZ being 20, 50, 100 etc.)

That promise HAS NOT been rescinded. The bearer is still owed a sum of 1000 rupees by the govt, he just needs to exchange the old promissory note with a new one; the promise remains the same.

Trust in fiat currency is lost when there is no faith that the backing govt can make good on its promise. For example, the currency of a country will loose all value if the govt starts printing currency wildly to finance its activities, usually war, without any actual increase in wealth. (This happened during the Yuan dynasty in China.) Or, if the govt in question loses the ability or willingness to continue guaranteeing its value. That leads to hyperinflation and complete loss of value. This happened to the Mark in the Weimar Republic, and more recently the Zimbabwean Dollar.

This is NOT the case in India. The State's ability or willingness to back its promise is NOT in question. There is the one time inconvenience of exchanging old notes for new notes of THE EXACT SAME value, but the value remains unchanged. If you had a 500 rupee note earlier, you will get a new 500 rupee note, or five 100 rupee notes.

 

[Dungeness]

Over 93 percent support demonetisation in survey on PM Narendra Modi's app

http://timesofindia.indiatimes.com/...M-Narendra-Modis-app/articleshow/55584567.cms

If you believe this pool, you don't know there is another India where people don't have their voice on the internet.

 

[PlugnPlay]

You fail to distinguish between currency and the paper it is printed on.

Yes, Fiat currency derives its value from being declared to be of value by a state. The Indian rupee note has a statement from the govt (RBI governor), that reads : "I promise to pay the bearer a sum of XYZ rupees." (XYZ being 20, 50, 100 etc.)

That promise HAS NOT been rescinded. The bearer is still owed a sum of 1000 rupees by the govt, he just needs to exchange the old promissory note with a new one; the promise remains the same.

Trust in fiat currency is lost when there is no faith that the backing govt can make good on its promise. For example, the currency of a country will loose all value if the govt starts printing currency wildly to finance its activities, usually war, without any actual increase in wealth. (This happened during the Yuan dynasty in China.) Or, if the govt in question loses the ability or willingness to continue guaranteeing its value. That leads to hyperinflation and complete loss of value. This happened to the Mark in the Weimar Republic, and more recently the Zimbabwean Dollar.

This is NOT the case in India. The State's ability or willingness to back its promise is NOT in question. There is the one time inconvenience of exchanging old notes for new notes of THE EXACT SAME value, but the value remains unchanged. If you had a 500 rupee note earlier, you will get a new 500 rupee note, or five 100 rupee notes.

But he is partially right in his assessment that any future black money will be stored in Foreign currency and Gold due to this move that reduces the confidence of Black Money hoarders in Indian currency.

It will impact our Currency valuation in both short and long term.

 

[Srinivas]

Before integrating the economy with the rest of the world , GOI should think of alternate ways to avoid any possible crisis. We should not be playing into the hands of big foreign corporations and their designs.

 

[PlugnPlay]

If you believe this pool, you don't know there is another India where people don't have their voice on the internet.

Are you claiming to know the real rural India than a career Politician like Modi ?

Maybe you can apply for the post of his political adviser.

 

[T-72]

not worth it my Dalit friend.

you should get out of your village and venture into the real world sometime, Manavan.

we are happy