Visitors Now:
Total Visits:
Total Stories:
Profile image
By Againstcronycapitalism.org
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

More War on Cash: Indian Economy Grinds To A Halt After Cash-Ban: “Faith In System Shaken”

Friday, November 18, 2016 9:38
% of readers think this story is Fact. Add your two cents.

(Before It's News)

india-cc

(From Zerohedge)

Amid scenes of panic across India, following PM Modi’s shock decision to withdraw high-value bills in the middle of the sowing and wedding season, Reuters reports the move, aimed at cracking down on the shadow economy, has brought India’s cash economy to a virtual standstill. With over 90% of all transactions done in cash, money flows in and out of the black-and-white system… until now, as Devangshu Datta exclaims, “The system works because everybody believes that those pieces of paper will be accepted by everybody else… This move has shaken that trust.”

Click here for the article.

http://www.againstcronycapitalism.org/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.