acting-man.com / Jayant Bhandari / November 30, 2016
A Market Gripped by Fear
The Indian Prime Minister announced on 8th Nov 2016 that Rs 500 and Rs 1,000 banknotes would no longer be authorised tender. Linked are Part-I, Part-II and Part-III updates on a fast encroaching military state.
The mercantile and amicable disaster that Modi has combined is unprecedented. It will go down in story as an summary of naivety and audacity due to Modi’s egotistic enterprise to boost tax-collection during any cost.
Fear has gripped a bullion market, for one is deemed to be guilty until proven otherwise. People with ideally authorised money are fearful of cameras recording their purchases and carrying to compensate vast bribes. After an composition duration people will buy some-more — not reduction — gold. For now, a bullion marketplace has left mostly subterraneous with a bullion cost hovering around US$1,700 per ounce. Did Modi wish to boost a spontaneous economy?