nair
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But how would they be able to buy gold with old notes? No one will accept them!
A better idea would have been to print new plastic notes that are in vogue in some countries which are almost impossible to fake and give a date for all the present Rs 500 and Rs 1000 notes to be deposited into banks in exchange for the new plastic notes. This way, the tons of cash lying abroad as black money amounting to lakhs of crores will quickly come back.
Who will do that??????? Our politicians???? and Why would they do that??????? They will be the most effected one......But otherwise this a good idea.....