Quote from: ajaxmoor on November 28, 2016, 06:29:17 AM

Just read this. This sounds crazy, wouldn't this destabilize their entire economy ? Haven't other countries already implemented this in the past and have failed ? I can't see why an economist in the right mind would take this step.

Yes, even the great Amartya Sen, a Noble Laureate from India in economy has greatly critisized this move by stating, "To achieve something good, sometimes bad things happen before good, but it doesnt necessarily mean that all bad things are for the greater good."

Quote from: croutonhexagon on November 28, 2016, 06:53:23 AM

Although in my view government have done the best way to eliminate black money because all money from inside the room had to be taken out into light and this from now storing money would be tracked.

Could you please explain your view? How can they expect to track the money? Refer to my previous post, already an industry has about started just for exchanging the money, people are hiring thousands to just exchange money, so how will government track the black money if the come in very small amounts at a time from various thousand sources?? Its impossible.

Meanwhile, the banks have somehow become vulnerable to hacking, i should say, as just some days ago, 70,000 INR was stolen off from an artist's bank, at midnight. So its a lose-lose situation for us.