indian prime minister modi's currency mental meltdown

[genie]

What was he thinking when he came up with this idea of cancelling old notes. Is it to remove corruption add black economy market or something else at play?

[jkvlondon]

54 minutes ago, genie said:

What was he thinking when he came up with this idea of cancelling old notes. Is it to remove corruption add black economy market or something else at play?

c'mon he gave the heads up to his mates prior to the surprise announcement . Who in the hell looks at a situation where there is  total banknotes in circulation in India of valued at ₹16.42 lakh crore (US$240 billion) of which nearly 86% (around ₹14.18 lakh crore (US$210 billion)) was ₹500 and ₹1000 banknotes. In terms of volume, the report stated that 24% (around 2203 crore) of the total 9,026.6 crore banknotes were in circulation and says at quarter past eight AT NIGHT all the 500s and 1000s are worthless you need to deposit this in bank and exchange it .

URJIT PATEL came up  with this idea which has failed twice before to curb forgeries(great thinking) apparently they started printing new 500s and 2000s 

Exchanging old notes

people will have until 30 December 2016 to tender their old banknotes at any office of the RBI or any bank branch and credit the value into their respective bank accounts.^[1]The Reserve Bank of India laid down a detailed procedure for the exchange of the demonetised banknotes with new ₹500and ₹2000 banknotes of the Mahatma Gandhi New Series and ₹100 banknotes of the preceding Mahatma Gandhi Series.^[1]On 13 November 2016, the Ministry of Finance reviewed the procedure

key points:

• Cash withdrawals from bank accounts restricted to ₹10,000 per day and ₹20,000 per week per account from 10 to 13 November 2016. This limit was increased to ₹24,000 per week from 14 November. 
• immediate cash the old notes up to ₹4,000 per person could be exchanged for the new ₹500 and ₹2000 banknotes as well as ₹100 banknotes over the counter of bank branches by filling up a requisition form along with a valid ID proof.   This limit was increased to ₹4500 from 14 November 2016 
• Initially, all ATMs were dispensing banknotes of only ₹50 and ₹100 denominations and cash withdrawals from ATMs were restricted to ₹2000 per day.^[15] From 14 November onwards, ATMs recalibrated to dispense new ₹500 and ₹2000 notes will allow a maximum withdrawal of ₹2,500 per day, while other ATMs dispensing banknotes of only ₹50 and ₹100 denominations will allow a maximum withdrawal of ₹2000 per day.^[13][14]

 exceptions were given to petrol, CNG and gas stations,

government hospitals,

 railway and airline booking counters,

state-government recognised dairies and ration stores, and crematoriums to accept the old ₹500 and ₹1000 banknotes until 11 November 2016, which was later extended to 14 November 2016 and once again to 24 November 2016.

International airports were also instructed to facilitate an exchange of notes amounting to a total value of ₹5000 for foreign tourists and out-bound passengers.

 

MEANWHILE : NRIs were told sorry you cannot exchange your notes outside India , you can deposit it into a RBI account for NRI but we don't handle indian notes outside India . So F You   (most NRIs are Panjabis methinks)

 

the way I see it the farmers who didn't get pushed off their fields would have been paid in 500s and 1000s , and this prevents them buying seed and thus reducing income in future as sowing window is small, our business men and traders will suffer and people who save for a rainy day /wedding.

Interesting to note they installed rapid action troops on punjab haryana border controlling highway1 traffic. Not a good feel

[joker]

the poor will always suffer. lack of education, knowledge , no bank accounts and at the mercy of money and loan sharks.Modi will get a windfall of tax from unchanged bank notes

[JSinghnz]

This step will play a big role in curtailing Paki terrorism.

Already stone throwing in Kashmir has come to a sudden stop, as pakis cannot

pay their agents anymore.

[genie]

There is a theory going around that the withdrawal of the big notes is to test the system by the bankster elites. Who want to see what happens when physical cash currency is taken out of the system and its moved into the digital sphere. That way there is less chance of a run on the banks if there's economy trouble and less privacy to do what you want with your physical cash when everything you do with electronic digital transactions can be tracked by the banking/ tycoon /royal family elites in power and the state.

As the saying goes he who controls the flow of money controls the government and the people.

[jkvlondon]

3 hours ago, genie said:

There is a theory going around that the withdrawal of the big notes is to test the system by the bankster elites. Who want to see what happens when physical cash currency is taken out of the system and its moved into the digital sphere. That way there is less chance of a run on the banks if there's economy trouble and less privacy to do what you want with your physical cash when everything you do with electronic digital transactions can be tracked by the banking/ tycoon /royal family elites in power and the state.

As the saying goes he who controls the flow of money controls the government and the people.

there is rioting and looting of food stores going on, which is not being shown on MSM

this is when India was sold to the zionists:

http://www.indiatimes.com/news/india/did-you-know-about-6-6-66-the-day-that-forever-changed-the-economy-of-india-256368.html

 

This is not an exercise to check anything just to undermine the population, the gujaratis and VIPs knew it was going to happen and when, so much for catching black marketeers ...

 

[Jonny101]

Modi and his close associates have already saved themselves by getting rid of their 500s and 1000 notes before the big announcement.  This comes to show, dont depend on Indian currency. For those of you who have relatives in India, encourage them to invest in the dollar or better yet Gold which is more reliable.