Of course not all black money is in cash. However, because of this move all assets which are known carriers of black money including real estate, gold etc. also

Of course not all black money is in cash. However, because of this move all assets which are known carriers of black money including real estate, gold etc. also took a hard hit. Additionally, the thinking is that people would be more careful dealing in cash going forward. And I would abstain from using absolute stance like you are using. I think this move definitely falls into the grey territory.