Where will all the stashed black money go?

[Biren]

Bill Gates spoke about digitalization and not about demonetization... After passage of more then 10 days, gov is allowing farmer to purchase seeds with banned notes forgetting seed is just one part of agriculture expenses .. lets understand making cash dirty word wonnt help as associating weapon with violence is not true. Gov has withdrawn currency denomination which constituted 86% of the denomination in use with out proper planning..and this will not stop pakis to print fake currency or babus to take bribe or politicians to accept funding with out declaring source.

Cheers
Biren

[ganeshn]

interesting read,
http://indiaarising.com/shocking-secret ... sing-modi/

[goodboy_mentor]

Unfortunately this kind of Hegelian propaganda is readily consumed by people not asking some reasonable counter questions. This kind of Hegelian propaganda has worked repeatedly very successfully in the past to get votes even in this country.

Please note it says the printing presses were "ready to print". Are they still not "ready to print"? How long it will it take to make some changes to the dyes, printing blocks etc. and "ready to print" again? If this is indeed true then is government proposing demonetization every few months?

A former NSA of India was quoted in the media as saying this demonetization will have no effect on State sponsored terrorists or their funding. Whom to believe?

This government claimed it has conducted a surgical strike across the border to the people who do not even know difference between a shotgun and rifle. Everyone was very happy that a solution has been done. But what has actually changed on the ground level? We still get media reports of soldiers regularly dying. Probably more soldiers have died after the claimed surgical strikes than the number that died in the Uri attack.

For those who do not know what is a surgical strike, in military parlance surgical strike is a strike that significantly reduces enemy's offensive capabilities. For example air strike by Israel that destroyed almost all the Egyptian fighter planes in their hangers. Another one is the air strike by Israel that destroyed Iranian nuclear facilities and putting it's nuclear program back by a few decades.

[StampMaster]

@ GBM

I agree.. in today's virtual world people have forgot vocabulary and try to use fancy words which they might have picked up from some lunatic and keep chanting it, so it fits some or the other occasion.

If this demonetization was about curbing fake currency, there are already fake 2000 notes circulating in the market, starting from 10th Nov in Telangana state. And so many others.

interesting read,
http://indiaarising.com/shocking-secret ... sing-modi/

There are hundreds of such news articles circulating. They are called FALSE FLAGS in Hegelian.
Do people switch off common sense when you watch TV? Haven't you guys checked banks and ATM in your vicinity? Most of them are closed.


A person has 5litres of blood circulating in his/her body, what if we demonetize 85% (i.e. 4.25 liters), what do you think how long a person be kept alive with just 750ml of blood and of course a lot of steroids and medical life support system?

[PRITAM PATEL]

Did some one noticed about the expenditure occurred on publicity by central govt. in last 2.5 years

its whooping 1100 Cr.( declared by Govt.on RTI ), ppl have been brainwashed by marketing strategy

let's hope for best

regards

[goodboy_mentor]

Found some interesting conclusions by Jayant Bhandari -

Conclusion, for Those Living in India

Once social engineering of this size has started, people will and should take steps to protect themselves and their families. Decisions should be made today, not tomorrow.

People’s money in banks is frozen and can no longer be used for purposes involving cash. Every indication is that this money will stay frozen, as Modi wants coerce people into invest their money according to his preferences: into low-interest bonds or negative-yielding infrastructure projects.

Any rational person should be to trying to avoid getting stuck in what is a rapidly emerging police state that will control people’s finances and eventually their entire lives. It will probably be best to take as much investment-related money as one can out of the system, or even better out of India.

A few escape routes still exist for the time being. By law it is still possible to move out US$250,000 per year outside India. This window cannot stay open too long. Until it is shut, one still has the option to move money into foreign currency or investments in more productive instruments outside of India. One should also be able to store gold with an offshore entity in a country that respects private property.

Many rich Indians already do the above, all legally. They own swaths of properties in HK, Singapore, and Thailand, and increasingly also in Canada and New Jersey (USA). Many directors of Indian public companies are officially resident in Singapore, to avoid becoming a puppet of the extra-ordinarily corrupt and rapacious Indian government, which has been made much worse by Modi.

With India’s institutions now rapidly degrading and the salaried middle class having been zombified, risks are extremely high. Explore your options before the encroaching police state closes the remaining avenues of escape.

Of course, being totally incompetent, India’s government cannot enforce a full-blown police state, but that will not stop massive damage to the economy and what will bring about chronic and frequently acute anxiety among Indians.

India will fundamentally change going forward, in a very negative way. It may eventually disintegrate, a possibility for which one should be prepared.

The last line is quite worrisome since U.S.S.R. also had similar fate. While disintegrating, given it's culture and history, it can also become serious law and order problem. We have already seen what happened in 1947 when it disintegrated in very volatile manner into two nation states. People may need to arm and organize themselves to protect from criminals and organized mafia bent on murder, loot and rapes. The complete article can be read at http://www.acting-man.com/?p=48031

[Steve007]

I must say that this entire thread has been of definite interest. There is a place for political issues,and this is one that i can follow. This is covered to some limited degree in the American press(if you look for it), but obviously there is more depth here. Interesting subject and good posts..

[StampMaster]

First week of month- Salary time and bill payment time too . No cash in ATM's and in Banks. Banks are hardly dispensing cash. Weekly Rs24000 limit for individuals and Rs50000 (I am not sure with exact figure) is pretty much a hoax, banks are providing much less than the number given by RBI.

Situation is we surely need to carry Smith & Wesson at Banks and ATM's today. We Indian do not have the privilege to hold the real Smith and Wesson neither afford to buy food for Smith & Wesson (from the photo) with the capital controls.

[StampMaster]

A Banana Republic in making

Expect a continuation of new social engineering notifications, each sabotaging wealth-creation, confiscating people’s wealth, and tyrannizing those who refuse to be a part of the herd, in the process destroying the very backbone of the economy and civilization.

There are clear signs that in a very convoluted way, possession of gold for investment purposes will be made illegal. Expect capital controls to follow. Chaos from people’s inability to access the money in their bank accounts is now spreading to the people who have so far been unaffected: the middle class.

This is a completely unnecessary man-made disaster, with the single aim of glorifying Narendra Modi.

Several postponements later, the first hearing at the Supreme Court will likely take place on 5th December 2016, almost a month after the announcement of the ban. That does not mean that the court did not deliberate over “more important issues” affecting this wretched poor country.

It inter alia heard a petition and passed a judgment that makes playing the national anthem compulsory at cinema halls before the start of every movie, to promote nationalism. It also decreed that people have to stand up while the anthem is played. Henceforth one can be charged with sedition for not actively showing proper respect to the flag and the anthem.

Only someone very numb can avoid being horrified by this.



Salaried middle class Indians — lacking moral instincts and incapable of imagining the concept of individual liberty in this extremely irrational society — are happy with the court’s decision. Insecure in their own skin, they prefer the comfort of the collective. They are the true source of this collectivist poison.

Indian courts are often referred to as “honorable court” and they very actively taking steps against anyone who shows the slightest of disrespect or challenges their judgments. So any direct challenge to their “authority” would be unwise.

Indian institutions have continued to deteriorate and mutate since the British left India. They are now merely hollowed out structures, devoid of any meaning or essence. We are in the final phase in which these institutions are crumbling, but in the meantime pomp and show are amped up to fool the gullible.

Indian culture in its immense irrationality does not provide the glue to even maintain these institutions, let alone improve on them. That glue could only have come from reason and moral instincts.

Anyone with a sense of history also realizes that India produced its finest leaders while it was still under the control of the British. It was during British rule that a cultural renaissance was happening in India, which ended with the emergence of the politicized, so-called independence movement.

Britain had set up institutions that allowed the ablest and the best to rise up. Not only is this no longer happening, but Indian institutions today actively suppress the ablest and the finest, as the recent judgment of the Supreme Court on the anthem exemplifies. This happens because most Indians euphorically support suppression of the individual both in theory and practice.

Institutions of liberty have mutated into institutions of slavery. It is this inversion that is hastening the rapid decay of Indian society. India must eventually end up with institutions that reflect its underlying culture: a hugely fractured, tribal set-up, and very likely a disintegrated India.

A Banana Republic in the Making

Our interest here is in exploring deeper undercurrents and what they mean for the future of India. Every single indication is that India is on an inevitable path to becoming a full-scale police state. But the Indian police state will not be a Nazi-kind of system.

Being inherently disorganized, undisciplined and lacking the capacity to plan and having no commitment to values, India will go the way of autocracies in Africa, the Middle East, Pakistan and Bangladesh. With GDP per capita of USD 1,604, India is already drenched in poverty, and wallowing in suffering and disease.

In India, suffering and violence — not reason or moral instincts — bring stability. The concept of reason is conspicuous by its absence in Indian society. Such societies — as in the Middle East, Africa, and elsewhere in the backward part of the world — tend to go through a phase of violence before stability arises. If they could reason, they would be able to bypass the phase of violence.

The last thing anyone should do is to transplant such people into a different setting or to change the structure of their societies, as Modi has tried with the demonetization edict. People with tribal mindsets do not flourish, assimilate or evolve when transplanted or destabilized.

This has been the consistent experience from trying to enforce institutional changes in these countries through top-down mechanisms. In what way have Iraq or Libya become any better after their ruthless rulers were forcibly removed?

Societies lacking in reason also lack moral instincts. They are mostly oblivious to the pain of other people. In India, those from the lower castes — even though the formal caste system is crumbling — do not register as human beings in the minds of members of the richer classes.

Scores of people have died because of lack of treatment, having to queue for too long in their old age, etc., but in the imagination of the salaried middle class they are mere numbers, all somehow contributing to the greater good.



But now, with the month of November having ended, salaried people are starting to get hit as well. The money that they thought was safe in the banks is no longer available. It is now their turn to join the queues and return home empty-handed, as the banks have mostly run out of cash.





Conclusion

India will become a police state, likely with the full support of most Indians. Nationalism will be the thread that weaves them together. But it is a fake thread, devoid of any value. Eventually, there will be far too many stresses in the system, whose institutions are already in an advance stage of decay.

India as it exists today is a British creation. With the British now gone for 69 years, it is an entity has less and less reason to exist in its current form. The glue of reason that the British have applied is flaking, and it is doing so rapidly under the catalyst by name of Narendra Modi.


Article from Acting-Man.

Now I still do not understand about individual liberties in India. If a person respects Bhagat Singh and does not respect (not disrespect or abuse) Nehru is a personal choice. And someone respects Vande Mataram and believes it should have been given the credit as National Anthem and not just National Song is his personal choice too.

[PRITAM PATEL]

If Supreem court can mendate compulsary for playing National Antham in Cinemas, why they are not playing in every Govt. offices in the morning

Everyday we are getting news of " Some High Profile bureaucrat or Politically connected is arrested with huge amount of currency in newly printed bills.

I believe this is just a tip of an iceberg, Elites has already washed( changed) their so called black-money, aam janta is waiting for their turn at ATM

News served on T.V./NewsPapers are heavily corrected not to show Actual Ground Reality

whole exercise proved as a huge failure, none of its intended purpose got rectified.( besides Banks got cash rich)


farmers are selling kharif-products at dirt cheap rates, Rabi season has already destroyed, Thousands of people are loosing jobs everyday, salaried middle class is thinking they are spared, but sooner or later they will be hit hard as economic cycle has broken seriously.

What these men out of job will do as a last resort to survive ? Loot/Riot and in the end Police State

Public has lost moral values ( 2 days back one person died at ATM queue & no one cared for )

Overdose of "Rashtravad" will eventually drag country towards unnecessary "Full Scale War" ( compare with Germany of 1930s)

this all is being imposed just to Honor/justify one person's pride,

regards

P.S. I myself is a farmer and business person, and above are my personal experiences at farm and at business front

[jatindra Singh Deo]

[kanwar76]

StampMaster, Did you write that article, If not please provide the source.

-Inder

[StampMaster]

@ Kanwar67

Dear Kanwar, no I've not written the article. And I've given source too. (i will edit it to Hyperlink).

farmers are selling kharif-products at dirt cheap rates, Rabi season has already destroyed, Thousands of people are loosing jobs everyday, salaried middle class is thinking they are spared, but sooner or later they will be hit hard as economic cycle has broken seriously.

I agree Mr. Patel. Fruits and vegetables are going at dirt cheap rates in wholesale markets. And farmers have incurred heavy losses. Tomatoes sold for less than 50paise a kg, Potato for Rs 3/kg and so on.



Middle class are spared till date, due to the ATM/Debit card facility and banking knowledge. But this will not last long as banks are also in very bad shape. Most of the banks were only receiving Rs2000 notes in tonnes and no smaller denominations. Till date I've not seen the new Rs500 note. Neither did any person I know in Hyderabad. Still banks do not have Rs500 notes freely available.

This pic is of 6th Dec at around 9pm.

ATM closed from more than a week


Long queue at ATM where cash was being dispensed. And it was a chaotic situation near the ATM door.

[goodboy_mentor]

Overdose of "Rashtravad" will eventually drag country towards unnecessary "Full Scale War" ( compare with Germany of 1930s)

this all is being imposed just to Honor/justify one person's pride,

Yes in order to divert attention from failed banking system, as a desperate attempt war can be a diversionary tactics especially for an ideology that wants to correct the perceived "historic wrongs".

This person appears is just a puppet that has been groomed over a long period of time to represent an ideology. A hubris driven ideology that is a prisoner of history, an ideology that wants to do now and rewrite history about what it failed to do for last one thousand years. Following is the video of those among the ruling elite, the "think tanks" subscribing to this ideology. Just listen to the insane and irresponsible ideas of nuking the Punjab on side of Pakistan and imagine the implication these type of actions will have on all the border states of India. Entire north Indian borders states of Punjab, Haryana, Rajasthan and Gujarat are likely to perish even if there is absolutely zero retaliation from the other side. Due to nuclear radiation either the people will have to flee and become homeless or perish due to ill affects of radiation.


Another interesting article -

(Exited) RBI Governor Raghuram Rajan anticipated bad loans a long time ago and decided to clean up the mess in the balance sheets. Not surprisingly, 2 lakh crore of Gross Non Performing Assets (GNPA) was declared in just one quarter (January-March 2016), thus taking the GNPA of banks to 5,94,929 crore at the end of March 2016. This means 6 lakh crores of bad loans!

Rajan gave March, 2017 as the target to banks to clean up their balance sheets and disclose the entire stock of bad loans.

Basically there were 2 issues concerning:

The propensity of the banks to make technical adjustments to push NPAs to restructure loan baskets.
The corporate-political nexus arm-twisting on PSB's to provide loans to the cronies who have funded their election campaigns.

Rajan made it mandatory for banks to make provisions on restructured loans at par with bad loans and force them to set aside 15% loan amount as provisions if they chose to go for fresh restructuring. This irked the cronies and hence Rajan was shown the doors, eventually ending up exiting himself after facing several humiliations articulated in a unreasonable manner.

After Rajan's exit, banking crises began as the NPAs started to tumble out in truckloads and banks feared bankruptcy. Due to their fractured balance sheets, they are unlikely to draw investor interest even if they hit the market with bonds. The government need the money as capital but from where? (The government owns 70% of the banks). This problem was created by the government itself (past and present). In its desperation to address to the capital issues of the ailing banks, the government committed a blunder which the media reported as a “masterstroke” or “demonetization.”

Weeks have passed since “demonetization,” and the government is striving to find credible results. The brittleness of the trust factor is pushed to the edge with ongoing chaos and economic standstill. The impact on white money is being questioned by the world, hence the violation of civil rights, government irresponsibility, and belligerent refusal to admit the failure. The NDA government and its patrons have yet to realize the fundamentals of social democracy and its cons. The amicable balance between the cronies and the proletarians are asymmetrically violated in favor of the corporate-political nexus necessitating global capitalist elites. The war on black money has found nothing black, yet impacted the white money and its righteous proprietors. The improbability of fighting black money in a given capitalist environment is as old as a hill. It is the refractory attitude and the denial of the government by dishonestly pretending to address the threatening forces. The stability of the social system is at stake, due to the government’s fondness towards the corporate nexus. These kind of idiosyncrasies were anticipated by critics and intellectuals. In essence, the Indian government's “masterstroke” on black money is like giving a lecture on gun control while you have a gun hidden in your vest.

Complete article can be read here http://katehon.com/article/demonetizati ... onic-theft

Another one -

Herein lies the true reason why Modi is pushing through “demonetization”, and it’s not just because of his government’s desire to extract more tax revenue from its citizenry. What they really want to do is cripple small businesses and compel Indians to open up bank accounts in anticipation of the large-scale rollout of his “Make In India” initiative. This proposal is straightforward enough – it seeks to have India’s foreign partners build their products in India in exchange for having preferential access to its more than one-billion-customer marketplace. The catch, however, is that the vast majority of foreign companies don’t pay their local laborers in cash and demand that they have bank accounts so that their earnings can be directly deposited and thus more easily accountable, especially in the event of an audit. Moreover, foreign manufacturers might have difficulty tapping into the Indian marketplace if domestic brands are already predominant in certain low-scale sectors.

These two pressing motivations explain why Modi went forward with the disastrous “demonetization” policy. It wasn’t to fight “black money” and laughably deal a “surgical strike” to militant financiers, but was predicated all along with the intent of destroying small businesses and forcing as many Indians as possible to open up bank accounts in anticipation of their future hiring by the foreign companies which will participate in “Make In India”. Without having intended to, however, Modi and his right-wing Hindutva government have reinvigorated the leftist anti-government resistance in the country, making their appeals to the common folk and working class much more attractive than they ever could have been because of the negative wide-scale impact that this policy is having on Indians of all classes/castes, ethnicities, and religions.

Modi’s state corporatist policies are the economic definition of fascism, while his Hindutva supremacist ones are their social counterpart. With the anti-BJP movement in India being leftist-aligned in both the economic and social senses, an irreconcilable divide is being created within the country between two polar opposite and passionately opposed camps of voters – the corporatist and fascist Hindutva of the BJP on the one side, and the socialist all-inclusive secularists of the Congress and others on the second side – which stands to eventually turn the cash crisis into a political-cultural one if the fundamental differences between them aren’t peacefully resolved in the future.

Source http://katehon.com/article/cash-crisis- ... posed-look

[StampMaster]

Sab ke liye Dushman zaroori hota hai (Everyone needs an enemy or having an enemy is a necessary evil).

having an enemy has always been a necessity for politicians, governments etc. When anything happens (good or bad) enemy can be blamed for that- fake currency, illegal arms, terrorist attacks, militants, international deals, purchase of obsolete/legacy defense equipment etc.

@ GBM.

Its very true with Raghuram Rajan's decision to stream line banks NPA and even interest rates. Rajan has reduced about 1.5% base rate in 15 months time and nothing has been passed to banks customers as the banks were in in very bad balance sheets. So finally Rajan has decided on implementing MCLR- Marginal Cost of Lending from 1st of April 2016.

And the side show of bad loans has always been there in our banking system and govt. NPA are moved to banks subsidiary companies so people (stock holders, institution, FII etc) can't track and finally there are written off on the wimps and fancies of the politicians and banks senior management.

Some of the wilful defaulters list Financial Express