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Good things happening to India. They just pushed a reset switch on the parallel economy. But its not something that won't grow up again. This step was necessar

Good things happening to India. They just pushed a reset switch on the parallel economy. But its not something that won't grow up again. This step was necessary. After this, they will have to bring down taxes for effectively preventing a parallel economy. And sometime in the future, something like a max-100Rs note will push users to use digital payments everywhere. I think this is a safe experiment towards removing high-value currency notes. Won't be surprised if 2000 notes are recalled after some time and those might have been introduced just for convenience. Its also a veiled attack on political parties, including his own (and they can't even complain)

hawski 10y ago
> Won't be surprised if 2000 notes are recalled after some time and those might have been introduced just for convenience. Maybe even bait (no note between 500 and 2000) for new black money, that you can cut again some time later.
celticninja 10y ago
This strikes me as really only possible once. The main group of people that this is aimed at, holders of large amounts of cash, are unlikely to start accruing their future funds in 500 and 2000R notes and leave themselves open to this sort of action in the future. It would make sense to diversify it into Euro's, Dollars(USD or AUD), GBP or even gold or bitcoin to prevent a reocurrence. Im not saying that they should evade taxes just that if they are going to they can protect themselves against this happening again.