>All of the money hoarders would have immediately converted their cash, negating the move. Unless you disagree with the figures RBI has reported, this (precise

>All of the money hoarders would have immediately converted their cash, negating the move. Unless you disagree with the figures RBI has reported, this (precisely this) has happened anyways; the move has been negated. I am baffled at the number of people on HN who still believe that this chicanery really made the rich throw their hoarded cash somewhere. I mean, come on folks! That's the whole point of the article we are talking about here! 99.7% of the demonetized currency is back. The rest of it could be in Bhutan or Nepal, with the NRIs or could be hiding under the pillows of those who were too poor to get it changed; we don't know.