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I think it's brilliant. Re-register your money NOW (or within 50 days) or it's worthless. It's probably one of the most ballsy brilliant plans in any modern e
by SchizoDuckie 10y ago
I think it's brilliant.
Re-register your money NOW (or within 50 days) or it's worthless.
It's probably one of the most ballsy brilliant plans in any modern economy pulled off.
The short turnover term makes sure that you can't really transform that money into gold or bitcoin or whatever, because who the hell is going to take the fall
- legolas2412 10y agoThe scary but the best thing is that the two denominations make up around 80% of the cash in flow.
- skybrian 10y agoThere will be an exchange rate. People who can safely deposit old money into their bank account have a new way to make a profit. So the question is, what will the exchange rate be?
- celticninja 10y agodepends how close you get to the cut off, I imagine it would be something like bitcoinbuilder where people traded their mtgoxBTC for real BTC at an ever reducing rate until it was obvious that there was no BTC left in MtGox.
- andrewla 10y agoI think the Indian government might be overestimating its ability to determine what "money" is. The Iraqi Swiss dinar is a great example of how a currency in circulation can maintain (even increase) its value despite being no longer officially endorsed. [1] https://en.wikipedia.org/wiki/Iraqi_Swiss_dinar https://en.wikipedia.org/wiki/Iraqi_Swiss_dinar