Modi announces the discontinuation of Rs 500 and 1000 notes.......

by Vakavaka Pakapaka Tue Nov 08, 2016 9:58 am

......A few months ago, Chandra Babu Naidu suggested the discontinuation of 500 and 1000 rupee notes. Looks like Jagan, Maran, Laloo, Mulayam, CONmen and corrupt businessmen will lose a lot of money.....

http://timesofindia.indiatimes.com/india/PM-Modi-address-to-the-nation/liveblog/55315325.cms

by confuzzled dude Tue Nov 08, 2016 3:38 pm

Besides optics and scoring a political point, this move will not do much especially, in terms of alleviating corruption. Pretty soon, all corrupt politicians and bureaucrats will replenish their coffers with freshly minted Rs. 2000 bills. Yeah! this might accomplish one thing i.e. making BJP politicians and their alloys, the richest segment.

by southindian Tue Nov 08, 2016 3:46 pm

confuzzled dude wrote:Besides optics and scoring a political point, this move will not do much especially, in terms of alleviating corruption. Pretty soon, all corrupt politicians and bureaucrats will replenish their coffers with freshly minted Rs. 2000 bills. Yeah! this might accomplish one thing i.e. making BJP politicians and their alloys, the richest segment.

Awww... You appear to be hurt. Did you lose a lot? When do you think you'll be able to replace your crores in new denominations?

But... what are people going to do with all that worthless paper left in their homes? Smile

by confuzzled dude Tue Nov 08, 2016 4:15 pm

southindian wrote:
confuzzled dude wrote:Besides optics and scoring a political point, this move will not do much especially, in terms of alleviating corruption. Pretty soon, all corrupt politicians and bureaucrats will replenish their coffers with freshly minted Rs. 2000 bills. Yeah! this might accomplish one thing i.e. making BJP politicians and their alloys, the richest segment.
Awww... You appear to be hurt. Did you lose a lot? When do you think you'll be able to replace your crores in new denominations?

But... what are people going to do with all that worthless paper left in their homes?

Use logic, don't be a Modi bhakt.

by southindian Tue Nov 08, 2016 4:35 pm

Okay

Logic

Black money horder had crores stashed in 500 and 1000 Rs denominations. Now worthless.

Unless 30% paid to govt to keep the rest.

Would you lose all pay 30% of stashed money. Is that UnBhaktly

by Guest Tue Nov 08, 2016 5:15 pm

confuzzled dude wrote:Besides optics and scoring a political point, this move will not do much especially, in terms of alleviating corruption. Pretty soon, all corrupt politicians and bureaucrats will replenish their coffers with freshly minted Rs. 2000 bills. Yeah! this might accomplish one thing i.e. making BJP politicians and their alloys, the richest segment.

*RBI to issue ₹2000 Rupees Notes coming February 2017*

*Not just a piece of paper There is much more in this note Read the full content of this message*

India is all set to add one more denomination to its currencies shortly. The Reserve Bank of India (RBI) will be issuing Rs 2,000 currency notes, the highest to come into circulation, even as some experts feel7 high-value denominations should be discontinued to curb black money.

The Rs 2000 currency is designed keeping in mind to eradicate the black money issues using state of the art indigenous nano technology, every Rs. 2000 currency note is embedded with a *NGC (Nano GPS Chip)*

*How the embeded NGC Technology Works?*
The unique feature of the NGC is it dosent need any power source. It only acts as a signal reflector. When a Satellite sends a signal requesting location the NGC reflects back the signal from the location, giving precise location coordinates, and the serial number of the currency back to the satellite, this way every NGC embedded currency can be easily tracked & located even if it is kept 120 meters below ground level. The NGC cant be tampered with or removed without damaging the currency note

*How will this help eradicate black money menace?*
Since every NGC embeded currency can be tracked. The satellite can identify the exact amount of money stored at a certain location. If a relatively high concentration of currency is found a certain location for a longer period of time at suspicious locations other than banks & other financial institutions. The information will be passed on to the Income Tax Department for further investigation

*Just a beginning of the end of black money in India.

PS: Sorry about the font

by Propagandhi711 Tue Nov 08, 2016 5:25 pm

awesome move. exactly the kind of bold move a lesser man (or dynasty) wouldnt/couldnt make in a million years. let the whiners whine while their nephews go to chanchalguda jail

by confuzzled dude Tue Nov 08, 2016 5:45 pm

Kinnera wrote:
confuzzled dude wrote:Besides optics and scoring a political point, this move will not do much especially, in terms of alleviating corruption. Pretty soon, all corrupt politicians and bureaucrats will replenish their coffers with freshly minted Rs. 2000 bills. Yeah! this might accomplish one thing i.e. making BJP politicians and their alloys, the richest segment.
*RBI to issue ₹2000 Rupees Notes coming February 2017*

*Not just a piece of paper There is much more in this note Read the full content of this message*

India is all set to add one more denomination to its currencies shortly. The Reserve Bank of India (RBI) will be issuing Rs 2,000 currency notes, the highest to come into circulation, even as some experts feel7 high-value denominations should be discontinued to curb black money.

The Rs 2000 currency is designed keeping in mind to eradicate the black money issues using state of the art indigenous nano technology, every Rs. 2000 currency note is embedded with a *NGC (Nano GPS Chip)*

*How the embeded NGC Technology Works?*
The unique feature of the NGC is it dosent need any power source. It only acts as a signal reflector. When a Satellite sends a signal requesting location the NGC reflects back the signal from the location, giving precise location coordinates, and the serial number of the currency back to the satellite, this way every NGC embedded currency can be easily tracked & located even if it is kept 120 meters below ground level. The NGC cant be tampered with or removed without damaging the currency note

*How will this help eradicate black money menace?*
Since every NGC embeded currency can be tracked. The satellite can identify the exact amount of money stored at a certain location. If a relatively high concentration of currency is found a certain location for a longer period of time at suspicious locations other than banks & other financial institutions. The information will be passed on to the Income Tax Department for further investigation

*Just a beginning of the end of black money in India.

PS: Sorry about the font

LOL. When I read this yesterday it reminded me of Lord Vinayaka & plastic surgery theory.

by Idéfix Tue Nov 08, 2016 5:51 pm

This sounds fantastical. That you can have an unpowered chip on a currency note that talks to a satellite to reveal its location, and that satellites can keep track of precise locations of individual currency notes. Breitbart has some things to learn from these guys.

by pravalika nanda Tue Nov 08, 2016 6:12 pm

**didn't know it was real news when isaw it in the morning. here's what npr has to say. seems like a really bold move.

http://www.npr.org/sections/thetwo-way/2016/11/08/501199606/in-surprise-move-india-voids-500-and-1-000-rupee-bills-to-fight-corruption

by pravalika nanda Tue Nov 08, 2016 6:21 pm

http://economictimes.indiatimes.com/news/politics-and-nation/why-pm-modis-move-will-lead-to-disruption-than-economic-benefit/articleshow/55320637.cms

**i'm kind of thinking it's going to be disruptive also. i don't carry cash at all but indian people don't have credit cards and ATMs. if he wants to do this, he should allow at least 2-3 weeks for the people to get rid of their cash.

by Propagandhi711 Tue Nov 08, 2016 7:09 pm

Idéfix wrote:This sounds fantastical. That you can have an unpowered chip on a currency note that talks to a satellite to reveal its location, and that satellites can keep track of precise locations of individual currency notes. Breitbart has some things to learn from these guys.

to who, satellite communication experts on SUCH?

by Idéfix Tue Nov 08, 2016 7:20 pm

Propagandhi711 wrote:
Idéfix wrote:This sounds fantastical. That you can have an unpowered chip on a currency note that talks to a satellite to reveal its location, and that satellites can keep track of precise locations of individual currency notes. Breitbart has some things to learn from these guys.

to who, satellite communication experts on SUCH?

To me. You just need to know how GPS works to spot the problems here.

by truthbetold Tue Nov 08, 2016 9:06 pm

It is sad to see SUCH experts are nit picking instead of looking at the bigger issue. Modi is atleast trying to do something about black money. He moved against money in International Banks, black money in India and now against large notes. He may succeed or he may fail. Which other leader in Indian history did something like this?

Whatever may be Modi's past, this blind opposition to his policies is no different than blind supporters belief in Trump.

If this makes corruption kings like Jagan tremble, it is good for the country.

by confuzzled dude Tue Nov 08, 2016 9:20 pm

truthbetold wrote:It is sad to see SUCH experts are nit picking instead of looking at the bigger issue. Modi is atleast trying to do something about black money. He moved against money in International Banks, black money in India and now against large notes. He may succeed or he may fail. Which other leader in Indian history did something like this?

Whatever may be Modi's past, this blind opposition to his policies is no different than blind supporters belief in Trump.

If this makes corruption kings like Jagan tremble, it is good for the country.

It is more of a political ploy to get an edge in UP elections than anything else. Emotional Indians jump up and down as if this is a great victory

by truthbetold Tue Nov 08, 2016 10:21 pm

The only jumping I can sense is from you and admin. Yes. UP elections probably propelled this action. Whatever black money is in corrupt hands was turned into useless paper. Jagan will lose it forever. That is good for AP and good for the nation. Jagan Bhakts will mock it to cover up their own misery.

India will change significantly because of Modi govt efforts against black money. The corrupt people like Jagan will not give up easily. We do not know if Modi can clean up India but unlike congress he is trying.

by confuzzled dude Wed Nov 09, 2016 12:00 am

truthbetold wrote:The only jumping I can sense is from you and admin. Yes. UP elections probably propelled this action. Whatever black money is in corrupt hands was turned into useless paper. Jagan will lose it forever. That is good for AP and good for the nation. Jagan Bhakts will mock it to cover up their own misery.

India will change significantly because of Modi govt efforts against black money. The corrupt people like Jagan will not give up easily. We do not know if Modi can clean up India but unlike congress he is trying.

Oh Yeah! I've always maintained that India itself is a corrupt country, take from a police constable to a civil servant in secretariat to a doctor working in a govt hospital to an IAS officer. They all are corrupt and (collectively) have huge sums of black money. Politicians did not fall from sky to single them out; They came out of the same corrupt society. So, targeting a few politicians might settle a few personal scores but wouldn't really make India as a whole any better nor will help contain corruption. My guess is corruption will be rampant for next few years as all these middle class indians would like to recoup losses they have suffered.

by truthbetold Wed Nov 09, 2016 12:31 am

How is eliminating 500 and 1000 rupee notes directed against few politicians? It is resulting from a good policy that will taken ill gotten benefits from lot of corrupt people. The primary group that is affected is likely to be wealthy people involved in Tax evasion, real estate, movie industry, smuggling and extortion gangs, etc.

Trying to hide behind "every body is corrupt' is such a loser argument. It is proven time and again good govts and good policies made a difference to Indian people. Growth created wealth to allow Indian citizens to get more social services.

But the vultures use the ignorance of Indian people and subsidy corruption to win elections. Then they make govt a pure commercial operation for self aggrandizement.

by confuzzled dude Wed Nov 09, 2016 12:34 am

truthbetold wrote:Trying to hide behind "every body is corrupt' is such a loser argument.

Living in denial is worse than a loser argument.

by Guest Wed Nov 09, 2016 12:36 am

I can't believe the blind bias against Modi. Everything he does is bad or wrong by default. It doesn't matter even if it does good for the country. These are the leftists, right?

by confuzzled dude Wed Nov 09, 2016 12:39 am

Kinnera wrote:I can't believe the blind bias against Modi. Everything he does is bad or wrong by default. It doesn't matter even if it does good for the country. These are the leftists, right?

Only simpletons like you think it is a good move. This does zilch to India other than adding burden on exchequer

by Guest Wed Nov 09, 2016 12:42 am

confuzzled dude wrote:
Kinnera wrote:I can't believe the blind bias against Modi. Everything he does is bad or wrong by default. It doesn't matter even if it does good for the country. These are the leftists, right?
Only simpletons like you think it is a good move. This does zilch to India other than adding burden on exchequer

Live in your own deluded world Smile

.

by confuzzled dude Wed Nov 09, 2016 12:42 am

Kinnera wrote:
confuzzled dude wrote:
Kinnera wrote:I can't believe the blind bias against Modi. Everything he does is bad or wrong by default. It doesn't matter even if it does good for the country. These are the leftists, right?
Only simpletons like you think it is a good move. This does zilch to India other than adding burden on exchequer
Live in your own deluded world .

Only time will tell as to who is deluded.

by ashdoc Wed Nov 09, 2016 2:39 pm

as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .

by Seva Lamberdar Wed Nov 09, 2016 3:05 pm

ashdoc wrote:as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .

India needs to overhaul its monetary system and that's long overdue. It has little to do as primary electoral gimmick by the Govt. or ruling party -- https://such.forumotion.com/t39715-does-india-need-a-new-currency-set-up

by ashdoc Wed Nov 09, 2016 3:19 pm

Seva Lamberdar wrote:
ashdoc wrote:as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .
India needs to overhaul its monetary system and that's long overdue. It has little to do as primary electoral gimmick by the Govt. or ruling party -- https://such.forumotion.com/t39715-does-india-need-a-new-currency-set-up

last time people moved away from congress and voted for VP Singh , he gave us mandal and literally churned the political fabric of the country .

now people again turned away from congress and voted for BJP and modi gave us this .

some people may turn towards the slogan---''aandhi kay baad boonda baandi , agli baar rahul gandhi'' Modi announces the discontinuation of Rs 500 and 1000 notes....... Biggrin

Modi announces the discontinuation of Rs 500 and 1000 notes....... Biggrin

by confuzzled dude Wed Nov 09, 2016 9:57 pm

ashdoc wrote:as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .

Oh! Come on Doc, you too think this is a politically motivated move? Hope you have realized that you have committed a ghor apachar by suspecting Lord Narendra's selfless and courageous act.

by ashdoc Wed Nov 09, 2016 10:23 pm

confuzzled dude wrote:
ashdoc wrote:as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .
Oh! Come on Doc, you too think this is a politically motivated move? Hope you have realized that you have committed a ghor apachar by suspecting Lord Narendra's selfless and courageous act.

definitely this move is politically motivated . you see , any new person who has come to power by defeating congress tries to create a political niche for himself and tries to do something radical to turn the entrenched congress vote bank toward himself .

v p singh wanted to create a political base for himself and brought in something as radical as mandal which stunned the upper castes who had voted for him thinking that he is noncorrupt unlike rajiv gandhi was thought to have been indulging in corruption in bofors .

similarly modi wants to create a political base for himself and has brought in this move . again something radical . he hopes to get votes of the poor by this .

by Idéfix Wed Nov 09, 2016 10:53 pm

truthbetold wrote:It is sad to see SUCH experts are nit picking instead of looking at the bigger issue. Modi is atleast trying to do something about black money. He moved against money in International Banks, black money in India and now against large notes. He may succeed or he may fail. Which other leader in Indian history did something like this?

Whatever may be Modi's past, this blind opposition to his policies is no different than blind supporters belief in Trump.

If this makes corruption kings like Jagan tremble, it is good for the country.

If this refers to me, please note that I didn't take a position about eliminating high denominations. My post was about the claimed technology in the new 2,000 rupee note. The proposal to remove high denominations seems interesting, perhaps with trying. If it seriously decreases black money, that will be a huge win.

by Seva Lamberdar Thu Nov 10, 2016 9:31 am

ashdoc wrote:
confuzzled dude wrote:
ashdoc wrote:as old 500 rupee and 1000 rupee notes get cancelled , new 2000 rupee and 500 rupee notes will be only in limited supply in future . so will be forced to rely on cheque and electronic media to transfer money . illiterate people will have a problem doing transactions by cheque and electronic media as they cannot even sign themselves . many poor people dont even have bank accounts to deposit 500 rupee and 1000 rupee notes which they possess in the stipulated period upto 30 december . jaitley today talked of moving towards a cashless economy , but many people in their seventies and eighties are not comfortable using plastic money like credit and debit cards .

modi may have backstabbed the gujarati marwadi sindhi businessmen who had supported him with funds earlier . they are going to be affected by this decision .

modi hopes to get poor peoples' vote as this decision will be liked by them , but from the poor communities muslims and dalits at least are not going to turn their voting pattern around and vote for BJP. it remains to be seen as to how much electoral benefit will accrue to the BJP by this decision .
Oh! Come on Doc, you too think this is a politically motivated move? Hope you have realized that you have committed a ghor apachar by suspecting Lord Narendra's selfless and courageous act.
definitely this move is politically motivated . you see , any new person who has come to power by defeating congress tries to create a political niche for himself and tries to do something radical to turn the entrenched congress vote bank toward himself .

v p singh wanted to create a political base for himself and brought in something as radical as mandal which stunned the upper castes who had voted for him thinking that he is noncorrupt unlike rajiv gandhi was thought to have been indulging in corruption in bofors .

similarly modi wants to create a political base for himself and has brought in this move . again something radical . he hopes to get votes of the poor by this .

You can't compare the implementation of no-brainer casteist-quota vote-getting gimmick as Mandal Commission (http://creative.sulekha.com/india-and-the-parliamentary-democracy_441992_blog -- Paragraph 4) with the above urgently required remonetization of Indian currency / rupee (https://such.forumotion.com/t39715-does-india-need-a-new-currency-set-up#229261)

by confuzzled dude Thu Nov 10, 2016 9:32 pm

http://www.deccanchronicle.com/nation/current-affairs/111116/woman-with-rs-25-lakh-ends-life-in-mahbubabad.html

Thanks to Modiji. Another life is lost. Looks like, these days, eating meat (mutton) and selling properties are punishable crimes in India.

by confuzzled dude Thu Nov 10, 2016 10:22 pm

by truthbetold Thu Nov 10, 2016 10:48 pm

CD,

You are a loser as long as your best arguments are "Politically motivated", "your delusional", "It won't to do any good" etc.

An ASSERTION IS NOT PROOF. Trying back up one assertion with another assertion or abuse is not a sensible person's approach.

Tell us why any of Modi's actions are wrong? Provide arguments and bring in some research. If you are capable of original thought, show us.

by confuzzled dude Fri Nov 11, 2016 8:34 am

truthbetold wrote:CD,

You are a loser as long as your best arguments are "Politically motivated", "your delusional", "It won't to do any good" etc.

An ASSERTION IS NOT PROOF. Trying back up one assertion with another assertion or abuse is not a sensible person's approach.

Tell us why any of Modi's actions are wrong? Provide arguments and bring in some research. If you are capable of original thought, show us.

Hope you are talking about yourself TBT. I was called loser, delusional not the other way around.

by southindian Fri Nov 11, 2016 9:11 am

confuzzled dude wrote:

Great!

Let's say it was meant to get votes, but....

If the common man in UP likes Modi's actions... then what's so wrong?

by ashdoc Fri Nov 11, 2016 2:47 pm

gujaratis top in google search for conversion of black money into white , followed by mumbaikars and haryanvis---

http://www.ibtimes.co.in/gujarat-tops-list-searches-how-convert-black-money-into-white-money-google-703464

one wonders what gujaratis think of modi now , and what will be the impact of demonetisation on mumbai muncipal polls 2017 .

by truthbetold Fri Nov 11, 2016 3:04 pm

Ashdoc,
The pool of voters of black money holders is insignificant even in Gujarat. But they are powerful people who have resources. They will cause trouble that will cause problems for Modi. Some examples include they could sponsor agitations like Patel reservations, religious riots or some other turmoil to make govt look bad.

by ashdoc Fri Nov 11, 2016 8:46 pm

movie theatres ( my favourite destination as you all know ) offering discount because no one is seeing movies at this point . single screens worst hit because they have no system of online payment .

Modi announces the discontinuation of Rs 500 and 1000 notes....... Movie-content

Modi announces the discontinuation of Rs 500 and 1000 notes....... Movie-content

by confuzzled dude Sat Nov 12, 2016 9:31 am

What a disaster this has been. In best case scenario, less than 5% of black money will be disclosed while 70% of Indians had to suffer for this sudden dumb move.

by Seva Lamberdar Sat Nov 12, 2016 10:05 am

confuzzled dude wrote:What a disaster this has been. In best case scenario, less than 5% of black money will be disclosed while 70% of Indians had to suffer for this sudden dumb move.

It will put 100% fake 500 rupee and 1000 rupee notes out of circulation and that's no small feat.

by confuzzled dude Sat Nov 12, 2016 11:02 am

by southindian Sat Nov 12, 2016 11:15 am

confuzzled dude wrote:What a disaster this has been. In best case scenario, less than 5% of black money will be disclosed while 70% of Indians had to suffer for this sudden dumb move.

You picked a number from the hat - 5%
I pick a number - 90%

How did you get to your number? I'll explain my number.

This is a smart move. In 2 to 3 weeks all hard-earned money from homes will get into bank. All black money will be used as toilet paper.

by truthbetold Sat Nov 12, 2016 11:29 am

southindian wrote:
confuzzled dude wrote:What a disaster this has been. In best case scenario, less than 5% of black money will be disclosed while 70% of Indians had to suffer for this sudden dumb move.
You picked a number from the hat - 5%
I pick a number - 90%

How did you get to your number? I'll explain my number.

This is a smart move. In 2 to 3 weeks all hard-earned money from homes will get into bank. All black money will be used as toilet paper.

SI,

This is a personal loss to people who are close to figures like Jagan, Maran and Laloo. They are in mourning and will lash out.

On a serious note, the implementation of this kind of policy is difficult and opposition is well justified in mudslinging to gain as much out of this situation as possible. It is Modi govt.s responsibility to minimize the common man's difficulties. They should have an ongoing response team that plugs holes as the process moves forward. Otherwise the sheer weight of common man's difficulty will sink the boat.

by confuzzled dude Sat Nov 12, 2016 11:32 am

southindian wrote:
confuzzled dude wrote:What a disaster this has been. In best case scenario, less than 5% of black money will be disclosed while 70% of Indians had to suffer for this sudden dumb move.
You picked a number from the hat - 5%
I pick a number - 90%

How did you get to your number? I'll explain my number.

This is a smart move. In 2 to 3 weeks all hard-earned money from homes will get into bank. All black money will be used as toilet paper.

That is per Hindustan Times report, their data is based on the illegal assets seized by the govt since 2012.

by Seva Lamberdar Sat Nov 12, 2016 1:01 pm

confuzzled dude wrote:
southindian wrote:
confuzzled dude wrote:What a disaster this has been. In best case scenario, less than 5% of black money will be disclosed while 70% of Indians had to suffer for this sudden dumb move.
You picked a number from the hat - 5%
I pick a number - 90%

How did you get to your number? I'll explain my number.

This is a smart move. In 2 to 3 weeks all hard-earned money from homes will get into bank. All black money will be used as toilet paper.
That is per Hindustan Times report, their data is based on the illegal assets seized by the govt since 2012.

There is a very good blog on Sulekha on this subject. Everyone wondering about the latest demonetization in India should read it -- http://creative.sulekha.com/demonetisation-of-high-value-currency-notes-how-it-will-work_630462_blog

by confuzzled dude Sat Nov 12, 2016 2:34 pm

Seva Lamberdar wrote:
confuzzled dude wrote:
southindian wrote:
confuzzled dude wrote:What a disaster this has been. In best case scenario, less than 5% of black money will be disclosed while 70% of Indians had to suffer for this sudden dumb move.
You picked a number from the hat - 5%
I pick a number - 90%

How did you get to your number? I'll explain my number.

This is a smart move. In 2 to 3 weeks all hard-earned money from homes will get into bank. All black money will be used as toilet paper.
That is per Hindustan Times report, their data is based on the illegal assets seized by the govt since 2012.
There is a very good blog on Sulekha on this subject. Everyone wondering about the latest demonetization in India should read it -- http://creative.sulekha.com/demonetisation-of-high-value-currency-notes-how-it-will-work_630462_blog

Overly optimistic & simplistic view from a Modi Bhakt? There are many flaws in his logic & the scenarios he had narrated. First of all, the vast majority of small businesses which transact primarily in cash will end up big losers, as the author mentioned, they will end up losing 40% - 45% of their cash assets in taxes & penalties, as these tight deadlines will not give them enough time or opportunity to prove that all the cash they posses indeed is legit. OTOH, rich politicians like Chandra Babu who siphoned off 1000s of crores won't feel any pinch. Because he parked his BMWs in Singapore and now is bringing them back to Amaravathi via Singapore contracts. No cash dealings, so no pain. Thirdly, bureaucrats (scenario 2) who might end up burning all the unaccounted cash will only work overtime to replenish their coffers with freshly minted Rs. 2000 bills.

by ashdoc Sat Nov 12, 2016 3:50 pm

singapore is comparing modi with its own strong leader lee kuan yew

Modi announces the discontinuation of Rs 500 and 1000 notes....... 3-33

by confuzzled dude Sat Nov 12, 2016 7:30 pm

ashdoc wrote:singapore is comparing modi with its own strong leader lee kuan yew

Somebody tell them we've our own Tughlaq to compare

by rawemotions Sat Nov 12, 2016 7:34 pm

confuzzled dude wrote:
Seva Lamberdar wrote:
confuzzled dude wrote:
southindian wrote:
confuzzled dude wrote:What a disaster this has been. In best case scenario, less than 5% of black money will be disclosed while 70% of Indians had to suffer for this sudden dumb move.
You picked a number from the hat - 5%
I pick a number - 90%

How did you get to your number? I'll explain my number.

This is a smart move. In 2 to 3 weeks all hard-earned money from homes will get into bank. All black money will be used as toilet paper.
That is per Hindustan Times report, their data is based on the illegal assets seized by the govt since 2012.
There is a very good blog on Sulekha on this subject. Everyone wondering about the latest demonetization in India should read it -- http://creative.sulekha.com/demonetisation-of-high-value-currency-notes-how-it-will-work_630462_blog
Overly optimistic & simplistic view from a Modi Bhakt? There are many flaws in his logic & the scenarios he had narrated. First of all, the vast majority of small businesses which transact primarily in cash will end up big losers, as the author mentioned, they will end up losing 40% - 45% of their cash assets in taxes & penalties, as these tight deadlines will not give them enough time or opportunity to prove that all the cash they posses indeed is legit. OTOH, rich politicians like Chandra Babu who siphoned off 1000s of crores won't feel any pinch. Because he parked his BMWs in Singapore and now is bringing them back to Amaravathi via Singapore contracts. No cash dealings, so no pain. Thirdly, bureaucrats (scenario 2) who might end up burning all the unaccounted cash will only work overtime to replenish their coffers with freshly minted Rs. 2000 bills.

It is not surprising that people who had been supporters of alleged black money hoarders like Jagan Reddy and know the tactics used, would assume that everyone else is doing the same. It is similar to Pakistan Crying wolf that it is also a victim of terrorism.

by truthbetold Sat Nov 12, 2016 7:43 pm

CD,

It is funny those who carry water for the most corrupt Jagan talking about other politicans corruption and those who support the stupidest politician of all Rahul Gandhi talking about comparing modi with Tuglaq. It is not just funny but it is also discredited at source.

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