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"India is conducting a big test of the idea that getting rid of cash can help address crime and corruption" Demonetization is far from an 'experiment'. It's a
by findjashua 10y ago
"India is conducting a big test of the idea that getting rid of cash can help address crime and corruption"
Demonetization is far from an 'experiment'. It's a fairly common practice: India did it in the 20s & the 40s, Nixon did it in the late 60s, the European Central Bank also did it recently.
- gnipgnip 10y ago> Demonetization is far from an 'experiment'. It's a fairly common practice: India did it in the 20s & the 40s, Nixon did it in the late 60s, the European Central Bank also did it recently. Context: - India 20's 40's : Rs. 5000, 10000 notes (current prices: ~$ 15k , 30k resp.) - Nixon : Gold & Silver exchange stopped. - ECB : 500 Euro notes out.