Quote from: ajaxmoor on November 28, 2016, 07:21:14 AM

Quote from: Techie5879 on November 28, 2016, 07:00:23 AM

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."

I was looking this up, and seems a lot of people are facing issues. Is this step actually working ? I would imagine all the money to be in the form of investments since their currency is much smaller than dollars, i.e 10 100$ bills are equivalent to a bundle of their biggest currency.

what I don't understand about this is that India didn't ban or change anything about their currency and it is just a "currency note" which was explained somewhere in the first couple of pages. and what I don't get is that why so many people are talking about Indian economy and their fiat getting banned.