Behold, the power of banksters, and the very rapid shift into the cashless, digital control grid that has been an objective now for many decades.
Suddenly, things are moving faster than anyone could have imagined.
Officially, the government of India believes their demonetization efforts to haul in some 86% of the cash in circulation will bolster the economy and improve the situation for the world’s second most populous country.
But on the ground, and in reality, the pain is still spreading – and it could become even worse.
The cost of goods is increasing sharply and the poor and working classes are being hit hard… and many are still waiting in long bank lines to deposit what little they have.
Cash-related industries, which dominate Indian daily life, including tourism, shops, farming, vendors, day labor, jewelry and the informal industries are facing huge declines as cash bans have severely cut back their business.
via Business Insider:
Modi’s announcement that 500 and 1,000 rupee bills — making up 86% of India’s currency — were no longer legal tender has posed an enormous hardship for millions of people who use cash for everything from salaries to cellphone charges.
Empty ATMs and ever-changing rules are preventing people from withdrawing money, and many small, cash-reliant businesses from cinemas to neighborhood grocery stores are suffering huge losses or going under.
Daily commerce in essentials including food, medicine, and transportation screeched almost to a halt.
Real estate, tourism, transportation, and gold and gems have been hit the hardest, along with informal sectors that rely mostly on cash. Prices are forecast to rise since the cash crunch is pinching supplies of all sorts of goods.
“The first two months have been so bad for us, we don’t even have enough money to buy food,” daily wage laborer Neeraj Mishra, 35, said.
Worst affected were the country’s hundreds of millions of farmers, produce vendors, small-shop owners and daily-wage laborers who usually are paid in cash at the end of a day’s work. Many lost their jobs as small businesses shut down, compounding their poverty.
The direct shortage of cash, with no reliable alternative system in wide use among the nation’s poorer majority, resulted in demand that outstripped supply on every front for physical cash and a means of exchange.
This is how quickly they could bring things to a halt.
The inhumane impact on literally hundreds of millions of poor people there remains largely in the background of policy discussions – which have actually been branded as fighting for the poorest – as banking modernization becomes the most important factor.
So far, despite the widespread inconvenience and costs… The Indian government is urging patience, insisting it’s playing a long game that will eventually modernize Indian society and benefit the poor.
Since domestic commerce drives most economic activity, analysts have expressed alarm over the scale of economic and social disruption and are warning a contraction is likely in coming quarters.
The wide impact of the demonetization won’t be known until the government issues its next quarterly gross-domestic-product figures in February, but the Reserve Bank of India already has shaved half a percentage point from this year’s GDP growth forecast, to 7.1%.
If the United States banned the $100 bill tomorrow, and perhaps the $50 as well, as many bureaucrats and banking insiders have suggested, there would be a massive impact at home as well.
Despite the fact that a majority of transactions in America are now electronic, cash still remains a stubbornly viable exchange mediums for all sectors of society, across wealth and age brackets, and remains especially vital for the working poor who often rely upon cash for daily transactions.
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Absolutely off topic but scary. Fox news just reported a carrier just is pulling into Norfolk w.v. while the carrier Bush is getting ready to go to sea. As of right now we have no carriers at sea in the world. Are we being set up? Moderator get on this don’t wait 2 hrs
Used to have 13 carriers, now down to 10, I believe. Thank Obama for that.
I have a photo of my Dad’s from WWII, showing 4 fleet carries in line astern coming home from the war in 1946. We’ll never see a sight like that again, we had over 60 fleet carriers in 1945.
“Demonetization Has Achieved Nothing” – India’s Rapidly Plunging Toward A Police State
“Demonetization will have achieved nothing positive. But it will have seriously damaged the Indian economy. The human costs are immense and continue to pile up. This could easily – even likely – take India to autocracy and eventually, bloody and chaotic disintegration. The demonetization policy and Modi are merely symptoms of deeper issues though.”
(Poor) people, “who earn a dollar or two a day, are now expected to use electronic media for transactions, in an economy in which electricity and the internet are unpredictable even in big cities.
With no money to buy seeds or any opportunities to earn even $2 a day given the cash crunch suffered by potential employers, these hungry and desperate people are queuing up outside banks.”
“Many small businesses are facing closure and bankruptcy.”
“60% of shops shut down post demonetization.”
“With businesses failing, poor people are quickly losing their jobs. Migrant laborers from across the country can no longer find employment and often don’t get paid what they are already owed.”
Glad we all have a year or more of food stocked up eh? And PM’s to buy more. Good info o tis site for survival. Read and learn Happy NY Mac, and best wishes ya’ll for a better year with Trump in Office, draining the Swamp.
This is scary shit, DO NOT trust the banks or the feds when it comes to your money.
Just measured, I have more than an 8.53′ ft tall stack of phiz 1 Oz silver rounds. lol Each Oz, is just less a hair of 1/8th inch thick and 1-1/2″ wide. lol Yeah, bring the dollar ban crash. I’m ready.
Also, you can put about 2200 Rounds of 9MM in each 50 MM Ammo can. And its F-n heavy.
That’s why I went to .30 Cal cans. Go to 20MM cans nobody evcept Arnie S. can steal them.
8.53’x 12″ = 102.36″….assuming 9 rounds to an inch of height give or take a shade, and you have around (9×102.36) 921oz of 1oz rounds…. decent start, but not a huge amount to last a long time.
Given your previously stated derision of junk dimes, do you have a plan for change ? Or will everything you buy be exactly one round each ? Loaf of bread….one round. Gallon of milk….one round. Etc. In that case, you’ll burn thru 921 rounds in a month or two….what’s the plan then ?
Tn Andy, Yep pretty close. They also make 1/10th rounds in the Walking Liberties. That’s what I will work on this year collecting. I figure if I buy something for an OZ, I can set up a positive credit balance at the few places I will spend them, here in this small town area. And as silver is now moving up, the value stretches my ability to use them. I could easily live a few years on what I have stacked, at todays price. Off the grid here, everything is paid for, no real debt, no bills, just gas, phone, auto ins, monthly and cheap annual Prop taxes, and I have other streams of income as well. Its a good insurance plan. Caught a few fish from my lake the other day, and plenty of game and wild life in the area for food, Deer n Turkey, so…. I can manage pretty good.
Even at todays Silver price of $16, I could get a big steak and a beer at a local pub for 1 Oz, and do that every day for the next 3 years from my stack.
RE: “Given your previously stated derision of junk dimes..” Well RE: Junk, most people have no clue on how to price your junk dimes. Junk Jewelry is worse and a lot of counterfeiting and fake stamp markings. So many will just tell you they will only give you face value on your junk coins. But a real .999 OZ, is the standard for pricing Silver. Just whip out the phone App at the store and show them the spot price then and there, and get a credit for that amount, to shop on.
Pay attention GOLD is much easier to counterfeit than Silver. Just look for the 2 important markings on Silver “.999 Fine Silver” and “1 Troy Ounce”
Silver rounds with the design of the dime is nice, but don’t call it a coin, it is a round. Coins will have a date stamped on it, as well as the City of the Mint, like “SF” – for San Francisco.
So for you junk coin collectors, do you know the value off hand without looking it up.
.10 cent pre 1964? =
.50 cent 1966? =
.25 Cent 1958? =
Then take in to count how worn out the coin is and if the edges have been shaved. Every merchant would need to have a scale to weigh them, and calculate the value. Opposed to a real 1 Oz Round .999 which is spot price.
There is plenty of discussion and opinions on this. Having options is a good thing vs. the paper dollar.
Granted, prices in India for many things is far less than here, but this is the US equivalent of declaring $10 and $20 bills and above, to no longer be legal tender.
Then top that off with a lack of electronic payment and banking services for all but a tiny fraction of the people, and you’ve got a real crisis.
Expect a big change in India come election time.
I expect a change to come sooner, in india…long time to wait for dinner…
It’s like if they set off to incite a civil war, they couldn’t have come up with a much better way to do so.
So either the folks in charge are complete idiots, or they have something like a population thinning in mind.
India is always near the edge of war with either Pakistan or China or both. Maybe they don’t want invading Chinese to have access to so many large denomination bills. Who knows?
Many countries fear the Indian military. They are armed with the devastating intercontinental ballistic donut, called the “Long John”!
One of the biggest threats is an Indian/Pakistan nuke war. Imagine if Canada had nukes. These guys are still at war, and don’t have the distance we do from Russia or China.
http://nuclearfiles.org/menu/key-issues/nuclear-weapons/issues/accidents/20-mishaps-maybe-caused-nuclear-war.htm is particularly sobering.
Here is the man who stopped WWIII during the Cuban missile crisis for further reading: https://www.theguardian.com/commentisfree/2012/oct/27/vasili-arkhipov-stopped-nuclear-war
Then there is Stanislav Petrov in 1983 – another extremely close shave. I generally consider HuffPo to be one group of fascist liars, but this story is part of the 0.0001% that is actually useful: http://www.huffingtonpost.com/2013/09/26/stanislav-petrov_n_3997962.html But just google Stanislav Petrov if you can’t stand HuffPo (believe me, I had to grit my teeth to even write the word HuffPo!!!
The “on-going” war with China will have to be conducted over the Himalayas. Ain’t gonna happen. Last I checked, the have some artillery at around maybe 15,000 feet or more. They exchange gunfire once a month just as a way to say “hello” and confirm they are still at war. But soldiers can’t stay at that altitude, so it’s more a “formality.” India/Pakistan is much more a concern
Perfect example of a national government playing God without concern for who gets hurt. They sit in New Delhi and make decrees without realizing who gets hurt. For a lot of people, cash is the only alternative.
Those running India are some real idiots. You just can’t go cold turkey to move to another currency system. You need to put another monetary system in place first and work the kinks out, before you cancel the other cash system. Just like rolling out another computer program or system. So there is seamless transition period, with no Hiccups. These dopes in India gave only a 4 hour notice for the cash ban and created massive panic. Thus we are witnessing this human destruction.
Even when JFK’s EO-11110 Rolled out the Silver Certificates, he ran that along side, to compete with the Feds Fiat currency. It was to seamlessly control America’s debt issues with a competing currency. Well the Fed sure didn’t like that one bit and why I feel they had him murdered in my opinion. They had the most to loose. And JFK was right, and why we are in perpetual war, bankrupting us with needless debt to enrich the central banksters, who need to be destroyed ASAP.
I see Trump rolling out a form of Digital Bit-coin to compete with the Feds IOU Murderous toilet paper currency.
We saw the problems when Obama rolled out his Obama scare, the website crashed, and so many people lost their health care coverage. Obama is an idiot also. Dumb POS with no Technical skills. And its been a disaster since.
I don’t believe it could be Constitutionally supported in the US. For the simple fact it forces you to hold a bank account and to pay fees. But what they could do is make it painful to perform transactions in cash. Easiest way is to criminalize or add excessive fees to businesses that use cash. (i believe Chase has already discourages cash deposits) Although both Walmart and Target would fight this, since i’m guessing a large percentage of their customer based probably use cash.
Good morning Mrs. Moderator
How are you this lovely morning?
How’s the family?
Are comments going through ok or is it our special time of the month?
I keep meaning to formulate a red river flow chart based on the time we spend together; but I’m usually too busy heading out the door to secure more federal funding for strangers that hate my guts.
If this is a bad time ;I can always come back later.
I’ve got that movie “Cold Mountain” in the DVD player…I could always watch that again …. it’s just horrible the burdens that young hillbilly girl is forced to bear.
I’m sure you can identify.
Well anyway have a nice day and give the fam my regards. Try to stay warm and I hope you’re feeling better soon.
OBTW… I hear that ginger root tea helps with the cramping.
12/30/16______11:00 AM -CST
Of course, mostly it is the poor being impacted. As always, the elite and fascist left really don’t care about the poor.
As Che Guevara once said about the campesinos (rural poor farmer types) “I know the campesinos support us now; however, when we come to power, they, too, will have to be liquidated.” (They weren’t sufficiently pure communists.) The ignorant campus snowflakes would be the equivalent of the campesinos today.
Any major change is pain full. Just look at what we went though with Obullshit. This digital thing might work??? I believe that they were given warning that this was going to happen. Like most they put their heads in the sand and said “NOPE WON’T HAPPEN”. Just like the Sheeple here in the US.
After seeing this I guess I should get rid of all my $50,00 and $100.00 bills. I think I’ll exchanged mine for Night Vision, and things like that.
“You only have power over people so long as you don’t take everything away from them. But when you’ve robbed a man of everything, he’s no longer in your power – he’s free again.” – Aleksandr Solzhenitsyn
Why the hatred for the poor (yes, the left really DOES hate the poor. Look no further than Detroit, the destruction of the nuclear black family, or abortion)?
As Robert Zubrin observed, to the the left, and their Malthusian (unsupported! Google the Julian Simon/Paul Erhlich wager), “… each new life is unwelcome, each unregulated thought or act is menace, every person is fundamentally the enemy of every other person, and each race or nation is the enemy of every other race or nation.” Perhaps it is put most clearly by the World Wildlife Fund Living Plant Report of 2012, which Lewis Page summarizes in the May 16, 2012 edition of the Register that “economic growth should be abandoned, (and) citizens of the world’s wealthy nations should prepare for poverty.”
The middle class, of course, are especially bad, as the Education for Sustainable Development Toolkit, by Rosalyn McKeown, found at http://www.esdtoolkit.org/ tells us: “Generally, more highly educated people who have higher incomes, consume more resources than poorly educated people, who tend to have lower incomes. In this case, more education increases the threat to sustainability.” Of course, individual rights are verboten, given the Malthusian threat to the earth. As Harvey Ruvin, Vice-chair of International Committee for Local Environment Initiatives (ICLEI), a group that wants to impose the green agenda on everyone has noted, “Individual rights must take a back seat to the collective.” Pol Pot, move over. (Incidentally, the Malthusians might want to get a clue, as between 30 and 50 percent of all food produced globally, equivalent to two billion tons, is thrown away each year according to a recent report written by the UK-based Institution of Mechanical Engineers (IME), titled ‘Global Food; Waste Not, Want Not’, found at http://www.imeche.org/Libraries/Reports/IMechE_Global_Food_Report.sflb.ashx. Of course, per the usually PC Time Magazine, the Malthusians are doubly wrong, as “…it turns out the world’s population isn’t growing nearly as fast as it once did. In fact, experts say the rate of population growth will continue to slow and that the total population will eventually — likely within our lifetimes — fall.” http://newsfeed.time.com/2013/01/11/overcrowding-nah-the-worlds-population-may-actually-be-declining/
Barter, barter, barter…get use to it and start bartering now with friends and neighbors, it will make the coming collapse engineered by the psychopaths that much easier on you and your family
Ron, I have been talking to neighbors about bartering. Getting them on board. So many are just addicted to cash as it is part of the Feds dumbing down policy with stupid dumbed down phrases like:
“The Almighty Dollar.”
“Cash is King.”
“In God We Trust.”
I got one, “Stupid is.”
Whoever opens a Trading Post in your area or neighborhood will be Bank of choice in Bartering, Buy and Sell. Combo Pawn shop, hardware store and food market and creating Trading Post Chits as a form of accounting to value and price items as to their worth. Then use the Trading Post Chit exchange to buy other items or skills and services for the same value less a small commission for handling the transaction for the Trading Post.
Example, a guy or lady brings in a few dozen eggs, the store gives 12 chits to the lady and keeps the eggs in the fridge. Another guy comes in and rents a shovel. 15 chits, buys a few eggs and some firewood. Another lady comes in with a 1 Oz Silver round gets 30 chits, and buys a few items and keep her remaining chits on store credit. Its a whole accounting system and appraising of goods or services. Another guy comes in and checks the services board and finds someone to patch a roof, he gives a few OZ of silver to the Trading Post and gets 60 chits, the store contacts the roofer and credits his account at the store for say 55 chits and keeps the other 5 chits for the store’s transaction commission. This is all workable if you think about it. Get busy people. The Trading Post Owner will be the king in the area.
Run a Poker room, charge 10 chits entry fee, and rent a room in the back 100 chits, by the alcohol still and ladies in waiting, and the party is Game on in a collapse. Of course the local cops get a free pass one a month for some fun, and will help protect you from those who wish to harm you. Got to cover your bases, and spread the wealth. You can make out great in barter if you know how to work it. Just depends on how desperate the other person is or hungry to barter.
I would be getting a property or building set up right now for this Trading Post, and be ready for the collapse and open up shop right now. Game on!! Be the Hero in your hood.
Already there, we have a fruit and vegetable stand for our Organic produce and fruit at our farm, and we advertise that we barter now. We will expanding to a Trading Post type Operation in the future.
You say poor farmers (in India) were hit hardest by taking away large cash denominations.
That’s odd. Farmers should be outside the cash loop. Ah, the big boys at the slave trader Loisianna family business, Monsanto, (now Bayer is involved, or did they back out?), ya Monsanto made farmers dependent on buying seeds, rather than the seeds being naturally derived. The Indian farmers were drinking their own pesticides and commiting suicide by the thousands. This here situation is giving cover to Monsanto either by COHEN see dense or by design. Bankers working together to protect their brethren in crime.
I haven’t seen a $50 bill in ages, and I don’t use $100 bills. The ATM only puts out $20 bills, so there’s really no way for me to actually get a $100 bill.
I’m moving to ones and fives anyway, just in case.
Interesting….wife and I both keep a couple of 100’s tucked away in the recesses of our wallet (pocket book in her case). I planed some lumber for a guy in my shop the other day, he handed me a fifty in payment.
Americans need to be food independent. Purchase food from food grown locally when you are given a choice. Items which are only available from another part of the world are a different story. Become as independent from the food system as you can. Grow organic heirloom in your backyard, and some in appropriate places in the front yard. For example, Orange trees are ornamental evergreen and look lovely in the front yard. Grapes can be grown along a metal fence instead of Ivy for example. The neighbors will pick grapes as they walk by. So, what.
Spread the joy. Give your neighbors a present. Buy them a tree or shrub that bears fruit. Get your neighborhood on board, and start sharing. Our neighbors started a summer tradition. The streets are roped off by police who drop in, too. Barbecue and pot luck right in the middle of the street. Garden vegtables are grilled along with meat. Salads on the table and various preserves, jams and jellies.
It is a nice tradition that helps to form a cohesive healthy family neighborhood, with independent families each using their little yards to grow food, so that no one goes hungry. Neighbors need these alliances in place before a crisis occurs.
It is better to wither a storm with friends than enemies. Learn to be a good neighbor. People aren’t any better or worse than you are. We are all flawed. Accept this fact and live in peace.
Ron I’m all for trading with people just wish there was a market place to do this. I have things I’d like to trade even if the deal wasn’t all that good for me. At least I’d get something I want or need and someone else would get the same. Used to trade stuff with friends as a kid small things but it was a good experiance in trading. I’m all for it cause the shit stain parasite gov don’t make tax$ off these deals. Just tax free transactions. Trade commodities like firewood for bailed hay or 4chickens and a rooster for a goat. Maybe 20 lbs of venison for a some vegetables. Trade services like fix a vehicle for some handyman services. If people wouldn’t screw each other over this could easily work however most people are not trustworthy as far as labor goes. Trading tangible items is either a do or don’t trade. You don’t like the deal don’t do it. I sometimes just want some firewood or manure and would like to trade for it.
Have any of you ever belonged to an organized bartering system?
We ain’t talking no chickens for goats. The hardware store owner is a member… The new car dealership is a member… doctors,plumbers, electricians …
If you don’t want to talk about it …. I get it. ..that’s cool but… if you actually think bartering is like picking thru each other’s yard sale stuff
this is really going to screw the millions of leaf blowers in america. a cock fight without cash is tough to run.