[Weeble]

Because if you control money, you can control everything. Much more at the link.

[Lurkinanloomin]

Yes it is.
They want complete control and the ability to track every purchase.

[ClearCase_guy]

Modern economics is a boondoggle. People create Debt and think they are creating Money and/or Wealth.

I would prefer currency backed by precious metals.

[spokeshave]

They just started something similar in Greece...not yet withdrawing currency...but making payments to a debit card and only receiving government payments by debit card....like tax...driving license...water, property tax, fees and electricity bills etc.

Ping me for articles from Greece....Mrs Spokeshave has them.

[E. Pluribus Unum]

All money rightfully belongs to the globalists.

[Buckeye McFrog]

If true, that is just gonna make us REAL popular in India.

The public blowback from this was YUGE!

[bkopto]

Because if you control money, you can control everything.

Yet another reason to support Bitcoin. These @$$hole$ cannot control Bitcoin and cannot use it to fund their wars and their vote-buying and pedophilia.

[WKUHilltopper]

Another leap toward the mark of the beast.

[bk1000]

And Hindus voted largely for Trump.

[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.

[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.