And what was that tinfoil hat nonsense about Indians turning to gold as a currency which I rebutted upthread:
India Economy Falls into Chaos Dollar Rise in Huge Demand
US dollars are soaring in premiums on the street. There is a serious risk that the government has shaken the confidence of the people to such a degree, that they trust the US dollar more than their own currency.
...
When Japan would routinely devalue the outstanding currency in the same manner each time a new emperor took the throne, the population responded by using rice and Chinese coins. The Indian economy is turning to the dollar. Physical dollars are commanding a premium because they can politically trust the dollar and not their own currency.
Well you have defo lost all credibility with me :
"Gold premiums in India jumped to their highest in 21 months, as demand surged after the government abolished two high-value currency notes"
http://in.reuters.com/article/asia-gold-demand-idINKBN1360OI