Imagine, if you can, the US Government demonetizing $100, $50, and $20 dollar bills, and giving you 10 days to turn in your soon to be outdated currency.
It is happening today in India in an attempt to compel credit/debt card usage, digital currency to eliminate tax evasion, counterfeit currency, and to facilitate and create an electronic paper trail.
As Preppers, we are encouraged to have 1-3 months of expenses of "Emergency Funds" for medical, financial, or social crises.
Cash allows freedom of choice, no paper trail, no restrictions, accepted by all vendors, nationally recognized form of legal tender.
What say you to going almost totally digital, or carting around all your funds in $1, $5, or $10 denominations ?
H/T : Tolerance Sucks Rocks
So, what’s the penalty in India going to be for carrying “illegal” tender?
I don’t carry cash around now. I may have to get some 20s changed to 5, 10, or 1 dollar bills.
India is actually replacing the old notes with a new type of 500-rupee note and a 2000-rupee note, so I’m not sure if India is trying to go all-electronic. I’m pretty sure that a lot of people in India don’t even have a bank account.