Washington is behind India's cash ban. Is this the first step to a global ban on cash?

http://norberthaering.de/en/home/27-german/news/745-washington-s-role-in-india ^ | 1/1/2017 | Norbert Haring

[WKUHilltopper]

Another leap toward the mark of the beast.

[BipolarBob]

I don’t know how to ping.

I know from watching "The Hunt for Red October" that in a submarine they have a red button labeled ping and they push it. I hope this helps.

[bk1000]

And Hindus voted largely for Trump.

[palmer]

I think lottery is a way to gather up the remaining cash. People at the convenience store come in and pay for a couple things with a credit card, then pay cash for lottery tickets.

[magooey]

How nice that the current Indian government erased 80 percent of the national cash. Whatever happened to the concept of money being a store of value? If national governments can't be trusted with the conservative management of currency, then maybe local authorities will take up the slack. Perhaps Bihar, Utter Pradesh and Hyderabad can create provincial currencies so that trade can flourish and Indians don't starve.

[hawg-farmer - FR..October 1998]

to push back the use of cash in favor of digital payments B.S. it was about BLACK MONEY funding drugs and terrorists, 1000 Rupes is about $15.00 by the way.In India, black money is the white money but if tax not paid it becomes black money.funds earned on the black market, on which income and other taxes have not been paid or which is the proceeds of criminal activity such as bribery, kick backs and corruption. The total amount of black money deposited in foreign banks by Indians is unknown.

[firebrand]

So are smartphones.

[XEHRpa]

Talked to my Indian friend, and he says this story is all wrong. Modi, the PM, is a conservative, and the currency was outlawed because Pakistan and Bangladesh (ISI) have 5 major counterfeiting operations going on just over the border. Those denominations’ bills had not been updated in 20 years and apparently were easy to counterfeit.

The move was an attempt to cut off the foreign influence at destroying their currency. The effect on the border regions was immediate, and desirable. There are efforts to improve the security of the currency.

At least this is what my friend told me.

[Weeble]

Thanks for the update.